TAIPEI, Taiwan, Aug. 22, 2024 (GLOBE NEWSWIRE) — Alchip Technologies is one of only 200 Asian companies to be named to Forbes Asia's prestigious “Best Under a Billion” for the second consecutive year.
The Forbes list showcases companies that have demonstrated long-term, sustainable performance across a range of criteria. Companies on the list were selected from among over 20,000 publicly listed companies in the Asia-Pacific region.
“Being selected for the 2024 list is an incredible honor, and to be selected a second year in a row is breathtaking,” said Alchip CEO Johnny Shen.
Alchip is one of 19 Taiwanese companies on the list, making it Taiwan's largest with 2023 revenue of $978 million.
Like other companies on Forbes' unranked list, Alchip was selected based on a composite score using metrics such as trailing one- and three-year debt, sales and earnings per share growth, as well as the highest one- and five-year average return on equity.
“While geopolitical and inflationary headwinds have dampened economic momentum in some Asia-Pacific countries, strong domestic demand, supported by rising infrastructure spending and global trade, drove overall growth in the region in 2023. The Forbes Asia Best list, an annual selection of 200 small and mid-sized public companies with revenues of less than $1 billion, is a testament to the resilience of their economies,” Forbes Asia editors said when announcing the list.
Besides the quantitative criteria, qualitative screening was also applied, such as excluding companies with serious governance issues, questionable accounting practices, environmental issues, management problems and legal troubles in recent years. State-owned enterprises and subsidiaries of large corporations were also excluded. The criteria aim to ensure geographic diversity of companies across the region, and used annual results based on the latest publicly available figures as of July 7, 2024.
