SGCC Maintains Place as World’s Most Valuable Energy Company
The world’s largest utilities company has cemented its place as one of the most valuable and strongest brands globally.
Every year, world-leading consultancy Brand Finance pits 5,000 of the globe’s largest companies against each other and countless metrics, ranking them across all sectors and countries to produce its Global 500.
In Brand Finance’s eyes, brand value is determined by the net economic benefit that an owner would achieve by licensing their brand in the open market. Brand strength, calculated through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity and business performance is also considered.
This year’s list shows Apple overtake Microsoft, Google and Amazon — the latter of which took last year’s number one spot — to top this year's rankings. Tech giant Samsung, supermarket corporation Walmart, social media brands TikTok and Facebook, Deutsche Telekom and Industrial and Commercial Bank of China (ICBC) make up the rest of the top 10.
Laying just outside this list of the world’s most valuable and strongest brands at number 12, below US telco Verizon, is State Grid Corporation of China (SGCC). Widely regarded as the largest utility company in the world.
About State Grid Corporation of China
Brand Finance has reported State Grid Corporation of China’s value as US$71.145 billion as of the start of 2024, up from US$58.846bn the year before. Reaching the 15th place spot in 2023, the utilities mammoth’s rise to 12th for 2024 can be attributed to a number of factors.
This year is the seventh time State Grid Corporation of China has had its brand value calculated by Brand Finance, first being put to the test in 2018 and every year since. Its brand valuation has featured in 19 brand rankings, including the strongest and most valuable brands in China, the biggest Global brands and the best Utilities brands.
Founded in 2002, State Grid Corporation of China’s primary form of business is constructing and operating power grids across the nation. Reports of the amount of employees on its workforce vary, with In 2022 it was reported as having 871,145 employees, 1.1 billion customers and revenue equivalent to US$460 billion. In the west it has been reported the corporation employs more than 870,000, but according to their LinkedIn it supposedly has 1.72 million employees on its books.
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