excluding state-owned companies; refer to the 500 most valuable companies based on sales revenue
Supplementary notes
One yuan equals approximately 0.15 U.S. dollars and 0.13 euros (as of July 2026).
The market values of listed companies were based on the closing prices on November 15, 2025. For the valuation of private companies, market values of other companies from the same industry or the latest M&A data were included in the estimations.
Citation formats
Newcomers in the most valuable Chinese companies 2025
Among the newly listed in the 500 most valuable Chinese non-state owned companies, MetaX had the highest market value at around *** billion yuan. Moore Threads and GF Securities followed with market values of approximately *** billion yuan and *** billion yuan, respectively.
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Hurun Research Institute. (February 5, 2026). Market value of leading newcomers ranked as the 500 most valuable Chinese companies in 2025 (in billion yuan) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved August 01, 2026, from /statistics/1289878/china-newcomers-in-most-valuable-chinese-private-companies/
Hurun Research Institute. "Market value of leading newcomers ranked as the 500 most valuable Chinese companies in 2025 (in billion yuan)." Chart. February 5, 2026. ÌÇÐÄÆƽâ°æ. Accessed August 01, 2026. /statistics/1289878/china-newcomers-in-most-valuable-chinese-private-companies/
Hurun Research Institute. (2026). Market value of leading newcomers ranked as the 500 most valuable Chinese companies in 2025 (in billion yuan). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: August 01, 2026. /statistics/1289878/china-newcomers-in-most-valuable-chinese-private-companies/
Hurun Research Institute. "Market Value of Leading Newcomers Ranked as The 500 Most Valuable Chinese Companies in 2025 (in Billion Yuan)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 5 Feb 2026, /statistics/1289878/china-newcomers-in-most-valuable-chinese-private-companies/
Hurun Research Institute, Market value of leading newcomers ranked as the 500 most valuable Chinese companies in 2025 (in billion yuan) ÌÇÐÄÆƽâ°æ, /statistics/1289878/china-newcomers-in-most-valuable-chinese-private-companies/ (last visited August 01, 2026)
Market value of leading newcomers ranked as the 500 most valuable Chinese companies in 2025 (in billion yuan) [Graph], Hurun Research Institute, February 5, 2026. [Online]. Available: /statistics/1289878/china-newcomers-in-most-valuable-chinese-private-companies/
