CompaniesRanked

2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Largest companies in China by operating income

Operating income is profit from the core business before interest and tax. It strips out financing decisions, so it compares operations rather than balance sheets. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–50 of 50 · Fiscal year 2025 · Data as of September 25, 2026

NetEase (NTES) tops the list with $5.1B in operating income for fiscal 2025, ahead of Futu Holdings ($1.8B) and ZTO Express (Cayman) ($1.5B). The top 10 together report $13.9B in operating income; the gap between #1 and #10 is ×11.02. 50 companies in China report operating income, 2.3% of the 2135-filer universe. The last place on the list, Douyu International, comes in at $680,142.

Operating income
#CompanyOperating incomeYoY15-year trend
1NetEaseNTESCNTechnology$5.1B+26.4%
2Futu HoldingsFUTUCNFinancials$1.8B+112.2%
3ZTO Express (Cayman)ZTOCNIndustrials$1.5B−7.2%
4Vipshop HoldingsVIPSCNConsumer discretionary$1.2B−7.4%
5H WorldHTHTCNConsumer discretionary$975M+36.7%
6Qfin HoldingsQFINCNFinancials$955M−7.4%
7Luckin CoffeeLKNCYCNConsumer discretionary$724M+49.4%
8New Oriental Education & TechnologyEDUCNConsumer discretionary$643M+50.2%
9Full Truck AllianceYMMCNTechnology$593M+74.9%
10WeiboWBCNTechnology$465M−6.0%
11Finvolution GroupFINVCNFinancials$444M+13.8%
12JD.comJDCNConsumer discretionary$397M−92.5%
13KanzhunBZCNTechnology$352M+119.3%
14Atour LifestyleATATCNConsumer discretionary$330M+48.4%
15Ke HoldingsBEKECNReal estate$302M−41.5%
16Lexinfintech HoldingsLXCNFinancials$297M+60.0%
17Tal EducationTALCNConsumer discretionary$276M+$279M
18Jiayin GroupJFINCNFinancials$257M+50.3%
19X FinancialXYFCNFinancials$233M−9.2%
20Up FintechTIGRCNFinancials$207M+153.7%
21Hello GroupMOMOCNTechnology$194M−7.8%
22Chagee HoldingsCHACNConsumer discretionary$193M—
23BilibiliBILICNTechnology$161M+$345M
24Noah HoldingsNOAHCNFinancials$111M+27.9%
25AutohomeATHMCNTechnology$110M−20.0%
26Here GroupHERECNConsumer discretionary$55.4M+6.7%
27Sunlands TechnologySTGCNConsumer discretionary$53.8M+31.9%
28China Automotive SystemsCAASCNConsumer discretionary$53.6M+33.2%
29WaterdropWDHCNFinancials$53.0M+117.3%
30RLX TechnologyRLXCNConsumer staples$47.0M+$61.7M
31Himax TechnologiesHIMXCNTechnology$44.1M−35.3%
32IqiyiIQCNCommunication services$32.8M−86.8%
33YoudaoDAOCNConsumer discretionary$31.6M+55.2%
34Cheer HoldingCHRCNTechnology$26.3M+2.7%
35Hesai GroupHSAICNIndustrials$24.1M+$52.2M
36Dingdong (Cayman)DDLCNConsumer discretionary$18.8M−35.9%
37Viomi TechnologyVIOTCNConsumer discretionary$18.4M−14.2%
38Shengfeng DevelopmentSFWLCNIndustrials$16.9M+15.1%
39TuyaTUYACNTechnology$11.5M+$59.1M
40Wing Yip Food HoldingsWYHGCNConsumer staples$9.1M−24.8%
41Greentree HospitalityGHGCNConsumer discretionary$8.1M−63.5%
42BaozunBZUNCNConsumer discretionary$8.1M+$23.8M
43XunleiXNETCNTechnology$6.6M+$22.3M
44BingexFLXCNIndustrials$6.6M+$10.2M
45Jianpu TechnologyAIJTYCNTechnology$3.1M−55.6%
46Lucas GCLGCLCNTechnology$2.8M−26.7%
47Iczoom GroupIZMCNConsumer discretionary$984,421+$2.3M
48Youlife GroupYOULCNConsumer discretionary$967,000—
49Huize HoldingHUIZCNFinancials$952,000+$3.8M
50Douyu InternationalDOYUCNTechnology$680,142+$79.3M

All figures from SEC filings · FY2025 · 50

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{{cite web |title=Largest companies in China by operating income |url=https://companiesranked.com/en/largest-companies-in-china-by-operating-income |website=CompaniesRanked |date=2026-09-25 |language=en}}

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CompaniesRanked. (September 25, 2026). Largest companies in China by operating income. CompaniesRanked. https://companiesranked.com/en/largest-companies-in-china-by-operating-income

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@misc{companiesranked-en-largest-companies-in-china-by-operating-income-2026,
  author       = {{CompaniesRanked}},
  title        = {{Largest companies in China by operating income}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/largest-companies-in-china-by-operating-income}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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