On July 2, the 2026 China Top 100 Listed Companies Ranking (hereinafter referred to as the "Ranking") released by Wharton Economics Research Institute showed that in 2025, the total profit of 500 listed companies exceeded 6.8 trillion yuan, setting a new historical high with a year-on-year growth of 3.85%, accounting for 96.85% of the total profit of all listed companies in Shanghai, Shenzhen and North China. Among them, the profits of the two major new industries of electronics and non-ferrous metals have experienced explosive growth.

The ranking of the top 100 Chinese listed companies is based on the total profit of all listed companies in Shanghai, Shenzhen, and North China. The top 500 list has a profit of 1.567 billion yuan for the year 2025, with a year-on-year increase of 7%. By 2025, a total of 106 enterprises will achieve profits exceeding 10 billion yuan, an increase of 9 compared to the same period last year; 24 companies have profits exceeding 50 billion yuan, and 12 companies have profits exceeding 100 billion yuan.

According to Li Qianyu, a researcher at the Wharton Economics Research Institute, the profit data of the top 500 listed companies intuitively confirms that the top listed companies are the absolute main force in creating profits for the national economy. With their advantages in capital, technology, and industrial chain integration, they have significantly stronger resistance to cycles and risks, and are the "ballast stone" for China's economy to resist external shocks and maintain growth resilience.

In addition, Li Qianyu mentioned that the list presents a strong Matthew effect, with the top 100 companies accounting for 78% of the total profits of the top 500 companies, over 65% of revenue, and up to 90% of total assets. The profits of the top ten leading companies alone account for 37% of all listed companies.

Specifically, the top ten on the ranking list are Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, China Petroleum, Ping An Insurance, China Life Insurance, China Merchants Bank, China Mobile, and CNOOC. Among them, Industrial and Commercial Bank of China's annual total profit reached 424.435 billion yuan, setting a new historical high and ranking first on the list for 17 consecutive years; The four major state-owned banks of China, Construction, Agriculture, and Central Bank have remained in the top four positions for ten consecutive years without any change in their rankings; China Life Insurance ranked in the top ten for the first time, while Kweichow Moutai withdrew from the top ten.

Looking at different industries, the ranking shows that the two major new quality industries of electronics and non-ferrous metals will experience explosive growth in 2025. Among them, the electronics industry added 9 new companies to the list, bringing the total to 32. The annual profit was 177.583 billion yuan, a year-on-year increase of 42.5%; Eight new non-ferrous metal companies were added to the list, bringing the total number to 32. The total profit was 291.203 billion yuan, a year-on-year increase of 56.3%. Only a few companies in the two major industries have experienced a decline in rankings, while Shengyi Technology, Northern Rare Earth, and Shennan Circuit have seen significant increases in their rankings. Hongqiao Holdings, as a new entrant, ranks 51st.

Li Qianyu explained that the high growth of the two major industries, electronics and non-ferrous metals, has macro and deep significance. Electronics correspond to the core carriers of the digital economy, such as chips, computing power, and communication hardware. Nonferrous metals support the supply of new energy, energy storage, and high-end manufacturing raw materials. They are the core track for cultivating new quality productivity, developing intelligent and green industries. Capital and profits are concentrated in two major fields, representing the clear implementation of the main line of industrial upgrading.

In contrast, the ranking shows that the real estate and consumer industries continue to adjust and build a bottom. Among them, real estate and construction decoration each saw a decrease of 2 companies on the list, with total profits decreasing by 34.03% and 16.46% respectively year-on-year, but the decline narrowed compared to previous years; There are a total of 17 food and beverage companies on the list, with a total profit of 222.03 billion yuan, a year-on-year decrease of 17.88%.

The list publishing institution, Wharton Economics Research Institute, was restructured from the Shanghai Institute of Economic Development in 2003. It is a consulting firm that conducts comprehensive research on macroeconomics, regional economy, and enterprise development. Every year, we regularly release rankings such as the Top 100 Listed Companies in China and the Top 100 Cities in China.