The 2026 Fortune China 500 list has been announced today. The total operating revenue of the 500 Chinese companies on this year's list reached $1.426 trillion for the year 2025, representing an approximate 0.3% increase compared to the previous year's listed companies. Net profit amounted to $794.9 billion, growing by about 5% year-over-year. The annual revenue threshold for making the list this year is approximately $3.54 billion. In US dollar terms, China's total GDP for 2025 reached $19.63 trillion, meaning the combined revenue of the 500 companies on this year's list is close to three-quarters of the country's GDP for that year.
State Grid Corporation of China leads the ranking with revenue of $555.37 billion. China National Petroleum Corporation and China Petroleum & Chemical Corporation (Sinopec) occupy the second and third positions, respectively. China State Construction Engineering Corporation ranks fourth. Hon Hai Precision Industry, the largest contract manufacturer for Apple, holds the fifth spot, rising one place from last year and remains the highest-ranked company from the Taiwan region. Industrial and Commercial Bank of China is in sixth place. JD.com, Inc. is the only mainland Chinese private enterprise in this year's top ten, ranking ninth after moving up two positions from the previous year, and it retains its status as the highest-ranked mainland private firm.
Pop Mart International Group Limited (PMRTY) secured the 393rd position with revenue of $5.164 billion. This marks the company's inaugural appearance on the list following a period of explosive growth in its performance. Fortune noted that the global breakthrough of its IP universe, represented by LABUBU, has led its globalization strategy into a harvest phase, with overseas revenue contributing a significantly larger share. Concurrently, the company is actively diversifying its business model by expanding into areas such as theme parks, plush toys, and desserts, accelerating its transformation from a trendy toy brand into a global culture and entertainment group.
Key Performance Metric
It is noteworthy that Pop Mart also achieved second place on the Return on Equity (ROE) ranking with a score of 56%. The top position on the ROE list is held by Fujian Wanchen Food Group Co., Ltd., with Melco International Development Limited in third place. Laopu Gold, Wiwynn Corporation, and Haidilao International Holding Ltd. occupy the fourth to sixth positions, respectively.