On February 5, Hurun Research Institute released Hurun China Top 500 2025, which lists the top 500 non-state-owned enterprises in China and ranks them according to their value. The market value of listed companies is calculated according to the closing price on November 14, 2025, and the valuation of non-listed companies is estimated with reference to the listed companies in the same industry or according to the latest round of financing. This is the seventh time in a row that the Hurun Research Institute has released the "Hurun China Top 500".
Among them, Red Lion Holdings and Taiwan Cement were included in the top 500 list.
In addition, Dongfang Hope, which includes cement in its business, ranked 119 with a value of 118 billion yuan.
Statistics show that the listing threshold of Hurun China Top 500 2025 has increased by 7.5 billion yuan over the previous year, reaching 34 billion yuan (up 28%). The average value of the top 500 enterprises increased by 41.5 billion yuan to 153 billion yuan.
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