Contents
Foreword............................................................................................ 3
Executive summary ............................................................................ 4
A growing appetite for brands............................................................ 8
Our Brands Investment Portfolio...................................................... 25
Attributes of China’s top brands....................................................... 33
Reality brands and Danwei............................................................... 63
Valuing China’s brands................................................................... 102
Company profiles
Anta Sports ...........................111
Baidu....................................115
Beijing Wangfujing .................119
China Construction Bank .........121
China Dongxiang ....................125
China Life Insurance ...............129
China Merchants Bank ............131
China Mobile..........................135
China Resources Enterprise .....139
China Vanke ..........................143
Ctrip.....................................147
Fujian Septwolves ..................151
Great Wall Motor ....................153
Gree .....................................157
ICBC...........................................159
Lenovo........................................163
Li Ning ........................................167
New World Department Stores .......171
Parkson Retail ..............................175
Qingdao Haier ..............................179
Shanghai Metersbonwe .................181
Sina............................................183
Tencent .......................................187
Tingyi .........................................191
Tsingtao Brewery..........................195
Wumart Stores.............................199
Yantai Changyu ............................201
Youngor ......................................205
Appendices
1: Valuation methodology ...................................................................207
2: Brand values in China .....................................................................210