ZTT Group, a Rudong-based enterprise, ranks 443rd in the China's Top 500 Brands list with a brand value of 1.97 billion yuan. [Photo/WeChat account: dream8086]

In a bid to make an inventory of the annual performance of Chinese local brands (including Hong Kong, Macao and Taiwan) and to systematically review their value the renowned consulting agency Brand Union issued the 2020 China's Top 500 Brands list in Wuhan, capital of Central China's Hubei province on Aug 8, the fourth time it has produced such a list.

The results show that Huawei, Tencent and Alibaba occupy the first three positions. ZTT Group, a Rudong-based enterprise, ranks 443rd in the list with a brand value of 1.97 billion yuan ($283.6 million).

Founded in 1992, ZTT started with the business of optical fiber communications. Now, it has formed a diversified industrial pattern of information communications, intelligent power grids, new energy, marine systems, precise equipment and new materials.

As a leading company in the domestic photoelectric cable field, ZTT has undertaken national torch projects since 1995. It was named a national key high-tech enterprise by the Ministry of Science and Technology and the Chinese Academy of Sciences in 1997.

The list selected more than 4,000 famous local brand samples and reasonably transformed the brands' future earnings into their actual value, evaluating them from the perspectives of finance, consumer demand and market share.