SUMEC ranked 60th among TOP 100 Chinese Brands2015-01-15
On December 12, 2014, China’s General Administration of Quality Supervision, Inspection and Quarantine, China Association for the Promotion of Brand Building, and CCTV jointly released the evaluation results of Chinese brands for the year of 2014. SUMEC stood out and ranked 60th among the top 100 Chinese brands with an evaluated brand value of 3.3 billion Yuan and brand strength of 756.25.
Chai Yongmin, Strategy Director of the internationally renowned Brand Union, thinks that brand evaluation not only indicates a brand's future competitiveness, the expectation and discounting of its future economic value added, but also reflects objectively the brand’s current market influence and its degree of activity. The evaluation results truthfully reflected SUMEC brand’s current status and its future prospects. It also represented significant improvement and leap forward for "SUMEC", a brand focusing on B2B business.
SUMEC Group Corporation (SUMEC), established in 1978, is a key member of China National Machinery Industry Corporation (SINOMACH), a Fortune Global 500 enterprise. Growing up in the process of China’s reform and opening-up and global economic integration and through over 30 years of development, SUMEC has become an international and diversified modern manufacturing service group focusing on three major fields: trade and service, project contracting, and investment and development.
With the continuous expansion of its global business, SUMEC has established a worldwide platform for international operations and has made fairly good achievements in related fields: its annual operating of steel, minerals and coal exceeding ten million tons; top 10 steel distribution enterprise for the year of 2014; import volume ranked first in Nanjing Customs for eight consecutive years; China’s No.1 importer of textile machinery, light industrial machinery, and machining equipment; China's most influential tendering agency with the biggest cumulative winning bid amount; China’s No.1 exporter of power generation equipment for six consecutive years; China’s top 3 exporters of power tools; China's top 20 scale enterprises in textile and garment export, and the biggest to the EU market for years; cumulative amount of water treatment exceeding 10 million tons/day; totally, more than 200 vessels having been built for ship-owners of different countries; and being recognized as "Tier 1" PV module manufacturer by Bloomberg New Energy Finance (BNEF). SUMEC’s influence in relevant industries has continued to improve.
Since 2014, SUMEC Group’s sound performance in various fields has drawn attention and coverage from the People's Daily, Xinhua News Agency, CCTV, CNR and other powerful media. At the same time, the Group’s official website and its official public WeChat ID have also attracted widespread attention from both inside and outside the enterprise. The communication intensity and awareness for SUMEC brand have kept improving.
"2014 China Brand Evaluation" was co-sponsored by the China Association for the Promotion of Brand Building and China’s General Administration of Quality Supervision, Inspection and Quarantine, aiming to implement the strategies of "enhancing brand building, improving brand value and effect" and "speeding up the establishment of brand evaluation mechanism with Chinese characteristics by brand-led consumption and manufacturing", which are laid down in State Council’s "Quality Development Outline (2011-2020)" and "Guidelines on Accelerating the Development of Producer Services and Promoting Industrial Restructuring and Upgrading", and to guide corporate brand building through the establishment of brand evaluation mechanism with Chinese characteristics and in line with the status quo of China’s brand development.
Based on "Requirements for Brand Evaluation and Brand Value Evaluation" (GB/T 29187-2012), " Estimates of Multi-period Excess Earnings for Brand Evaluation" (GB/T 29188-2012), and 20 national brand evaluation standards for 13 industries, the evaluation was conducted from five major aspects of quality, service, technology innovation, tangible assets, and intangible assets. Candidates are those brands enjoying high market awareness and strong industry influence, and that have remained profitable for three consecutive years, with their net profit average for the past three years reaching 30 million Yuan (for agriculture), 50 million Yuan (for services industry), 100 million Yuan (for manufacturing industry) and above. In the end, a total of 104 enterprises including SUMEC Group were qualified for the evaluation.
According to He Jiaxun, China’s famous branding expert and professor of East China Normal University, SUMEC’s successful participation in this year’s evaluation of brand value is both a good summary and a new starting point. Understanding the brand evaluation system in the context of the enterprise’s actual situations will help to guide SUMEC in its brand building, so that it can achieve new breakthroughs in brand cultivation, brand marketing, brand strategy, and stride towards the advanced stage of brand management.