SHENZHEN-BASED gaming and social media giant Tencent Holdings Ltd. topped the list of 500 most valuable private Chinese companies in 2021, according to a new ranking released by a Shanghai-based research institute. Shenzhen-listed battery maker Contemporary Amperex Technology Co., widely known as CATL, made it into the top 10 for the first time on the list compiled by the Hurun Research Institute. CATL is the world’s largest manufacturer of power batteries and materials. The research institute ranked the companies on the basis of their market capitalization or valuation. The total value of the companies on the list came in at 66 trillion yuan (US$10.4 trillion). The top 10 companies on the list had a combined valuation of 19 trillion yuan, accounting for 29 percent of the entire list, basically unchanged from a year ago. Among the 500 companies on the list, 56 percent are B2B businesses and 77 percent of them provide physical products. Health care firms grabbed the most spots on the list, while energy businesses came in the second. (SD-Xinhua) | 