Recognizes Asia leaders across multiple segments
Taipei, Taiwan, Aug. 22, 2024 (GLOBE NEWSWIRE) -- For the second year in a row, Alchip Technologies is one of only 200 Asian companies named to Forbes Asia's prestigious "Best Under a Billion."
The Forbes list features companies with a record of long-term sustainable performance across a variety of metrics. Those listed were selected from a universe of more than 20,000 publicly traded companies in the Asia-Pacific region.
"It is an unbelievable honor to be named to the 2024 list and it is breath taking to be included two years in a row," said Johnny Shen, Alchip CEO.
Alchip is one of 19 Taiwan companies named to the list and is the largest from the island nation with 2023 revenues listed $978 million.
Like all companies on the unranked Forbes list, Alchip was selected based on a composite score using measures such as debt, sales, and earnings-per-share growth over both the most recent fiscal one- and three-year periods, and the strongest one- and five-year average return on equity.
"Geopolitical and inflationary headwinds sapped momentum from some Asia-Pacific economies, but strong domestic demand, supported by an uptick in infrastructure spending and global trade, powered the region's overall growth in 2023. Our annual Best Under a Billion list of 200 small and midsized publicly traded companies, with sales under $1 billion, bears testimony to that economic resilience," Forbes Asia editors said when announcing the list.
Aside from quantitative criteria, qualitative screens were applied as well, such as excluding companies with serious governance issues, questionable accounting practices, environmental concerns, management problems or legal troubles in recent years. State-controlled entities and subsidiaries of larger companies were also excluded. The criteria sought to ensure a geographical diversity of companies from across the region and used annual results based on the latest publicly available figures as of July 7, 2024.
