EY Entrepreneur Of The Year 2016 China winners announced today in Shanghai

Prestigious awards recognize entrepreneurs who demonstrate excellence in “seizing opportunities to drive reform and innovation”

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EY Entrepreneur Of The Year 2016 China winners

25 November 2016, Shanghai - After a judging process of over five months, 12 entrepreneurs from Mainland China and Hong Kong were selected as winners of EY Entrepreneur Of The Year 2016 China (“EOY 2016 China”) for their innovative business mindset and outstanding business achievements. The winners will celebrate their achievement and discuss future cooperation at an award gala to be held in Shanghai tonight. At the gala, two of them will be honored as the country winners of EOY 2016 China. They will represent the Mainland China and Hong Kong/Macau regions to compete for the coveted World Entrepreneur Of The Year (WEOY) Award in June 2017.

Albert Ng, EY China Chairman and Greater China Managing Partner, extended his congratulations to the winners, reflecting that they embody the central theme of EOY 2016 China – “Seizing opportunities to drive reform and innovation”. “They made bold breakthroughs, promoted transformation and upgrading, and improved the quality of their products and services. They are driven by customer value and are determined to engage in self-evolution and internal value enhancement,” Ng says. “With their innovative approaches, these market leaders have capitalized on emerging technologies as well as the rapid development of the Internet to increase their market share. It is their determination and resourcefulness that have allowed them to rise in changing times and expand through innovation. Their efforts in reform and innovation have contributed to China’s economic development, and brought positive impacts to their respective industries and to society as a whole.”

EY Entrepreneur Of The Year 2016 China Co-Chairmen Michael Bi and Cheekong Lai with judges and winners

Zeth Hung, Managing Director and Co-Head of Greater China Investment Banking and Capital Markets, Credit Suisse says, “China’s entrepreneurs have made significant inroads in transforming themselves from adaptors to innovators, producing many of today’s global business leaders. The size of the entrepreneurial community has grown exponentially, playing an increasingly important role in China’s economy and in Research & Development (R&D). Credit Suisse forecasts China’s R&D investment will surpass the US by 2020 as China shifts to a new economic paradigm driven by innovation. Many of today’s entrepreneurs are not only dedicated to the success of their business, but also to making significant contributions to society at large, supporting many philanthropic projects across the country. As the Trusted Entrepreneurs’ Bank of Asia Pacific, Credit Suisse is delighted to support China’s entrepreneurs by serving as the Platinum sponsor of this prestigious business awards program. On behalf of the bank, I would like to extend our sincere congratulations to all the winners today and wish them every success.”

This year’s 12 winners come from different industries, including industrial products, technology, pharmaceutical and life sciences, services, clean-tech as well as media and entertainment. Among them, three of this year’s winners are from industrial products – an industry which was not represented by last year’s winners. According to Michael Bi, EY EOY 2016 China Co-Chairman and China Central Managing Partner, this trend reflects the growing number of excellent manufacturing businesses emerging under the national strategy of “Made in China 2025”. Such businesses focus on R&D investment and emphasize on the efficiency and frequency of innovation. They actively use and promote new technologies to swiftly upgrade themselves into “intelligent manufacturing” businesses. Additionally, they leverage digital technologies to meet changing market demands and embark on new journeys for their businesses. During this process, those entrepreneurs who demonstrate excellence in “seizing opportunities to drive reform and innovation” will become the beacons of progress for their companies. Their courage in making breakthroughs and taking risks, as well as their entrepreneurial judgment and wisdom to embrace change, make them the forerunners of China’s next-generation manufacturing industry.

In addition to manufacturing, other sectors in China are also seeing such challenges and opportunities. As China’s economic growth shifts gears from high speed to medium-high speed and the country continues to optimize its economic structure, companies are facing a very different business environment. In order to explore new opportunities for innovation and create a platform for communication and collaboration, EY also held a roundtable conference, titled “Business Model Innovation and Technology Innovation”, for the EOY China Academy today. Participating entrepreneurs shared their experiences and insights on areas such as business model innovation, R&D investment, as well as integration of business and technology innovation.

CK Lai, EY EOY 2016 China Co-Chairman and EY Assurance Partner in China, believes that these discussions will inspire entrepreneurs to look deeper into the future path of growth to meet the market demands under the “new normal” of China’s economy. “The consensus now is that the future of China’s economic development will be transformed from production-driven and investment-driven to innovation-driven,” Lai says. “As the reforms gradually deepen and enter an implementation phase, China’s ‘reform dividends’ will be further realized. New industrialization, informatization, digitalization, urbanization and even agricultural modernization will stimulate market vitality and boost creativity. The era of mass entrepreneurship and innovation will be further developed and innovation will be the key pillar driving China’s new engine of growth. Successful entrepreneurs are those who can actively respond to external changes, continuously make breakthroughs in addressing challenges, ride trends, and seize momentous opportunities to achieve strategic growth.”

EY has always placed great value in the entrepreneurial spirit. We celebrate the wisdom and tireless efforts of Chinese entrepreneurs, and we support their sustainable growth. “This year marks the beginning of the second decade of the EOY program in China. The program has reflected China’s economic development for the past ten years, dedicated to discovering and honoring the most innovative Chinese entrepreneurs,” Bi says. “EY is very glad to be able to work with these entrepreneurs and help them scale new heights. We hereby extend our sincere gratitude to all of the previous EOY participants, and congratulate the winners on their extraordinary achievements. We wish them success in the future as we all work together to make real the Chinese dream.”

EY believes that entrepreneurship is an unwavering theme, and an increasing number of Chinese entrepreneurs will become global business leaders. EY will go forward hand in hand with these outstanding Chinese entrepreneurs to help them achieve greater success and build a better working world together.

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Appendix A

The EY Entrepreneur Of The Year China 2016 Award Winners

Industrial Products
Chen Yin, Founder, Changzhou Greenwork Co., Limited
Li Xuechun, Chairman, Fufeng Group Limited
Zhou Xiaoguang, Founder and Chairwoman, Neoglory Holding Group Co., Limited

Technology
Lap Man, Founder and CEO, DYXnet Group
Wang Yanan, Chairman and CEO, Tongda Group Holdings Limited

Pharmaceutical and Life Sciences
Li Zhijiang, Chairman and Founder, AK Medical Holdings Limited
Zhao Yan, Chairman and Executive Director, Bloomage BioTechnology Corporation Limited

Services
Wang Zhenghua, Chairman, Spring Airlines
Girish Jhunjhnuwala, Founder & Chief Executive Officer, Ovolo Group

Clean-tech
Wei Wei, Chairman, General Manager and Founder, Bay Environmental Technology (Beijing) Corp.
Tsui Cham To, Chairman, CT Environmental Group Limited

Media and Entertainment
Li Ruigang, Chairman, CMC Group

Appendix B

Members of the Independent Judging Panel

  • Mr. Francis Leung, Chairman of CVC Capital Partners, Greater China (EY EOY 2016 China – Judging Chairman)
  • Mr. Anthony Fan, President of the Hong Kong Independent Non-Executive Director Association
  • Mr. Sean Fan, Managing Director of Merchant Banking, Goldman Sachs Mr. Kai Johan Jiang, Chairman of State Holdings Limited. Chairman of National Electric Vehicle Sweden AB (EY Entrepreneur Of The Year 2008 China – Emerging Entrepreneur Of The Year)
  • Ms. Liu Xiaodan, CEO of Huatai United Securities Co., Ltd.
  • Dr. Neil Wang, Global Partner and Greater China President, Frost & Sullivan
  • Mr. Yang Guoping, Chairman of Dazhong Transportation (Group) Co., Ltd. (EY Entrepreneur Of The Year 2013 China – Country winner Mainland China region)

Appendix C

Judging criteria
The following six judging criteria set the global standard adhered to by each and every country participating in the Ernst & Young Entrepreneur Of The Year awards:

  • Entrepreneurial spirit
  • Financial performance
  • Strategic direction
  • National or global impact
  • Innovation
  • Personal integrity/influence

About EY Entrepreneur Of The Year™

EY Entrepreneur Of The Year™ is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, EY Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries. www.ey.com/eoy.

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

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This press release is issued by the EY China practice, a part of the Ernst & Young global network.