July 29, 2025 – The recently released 2025 Fortune China 500 list features 71 companies led by Cheung Kong Graduate School of Business (CKGSB) alumni, accounting for 14.2% of the total list—a rise from 63 in 2023. Among them, four CKGSB alumni-led companies ranked in the top 50, and ten were listed in the top 100.
Now in its 16th edition, the Fortune China 500 adopts the same methodology as the Fortune Global 500, examining companies—both listed and unlisted—based on their 2024 fiscal revenue. This year, CKGSB alumni-led companies on the list not only saw remarkable revenue growth, but also excelled in technological innovation, market expansion, and corporate social responsibility. Many have made breakthrough advances in AI, global expansion, e-commerce, renewable energy, and biopharmaceuticals, in addition to traditional industries such as manufacturing, energy, and real estate.
Several CKGSB alumni-led internet giants are performing well. Alibaba ranked 18th, up three spots from last year, while Tencent rose six places to 32nd. Many CKGSB alumni-led companies are among the top 40 most profitable companies. Notably, Tencent reported a 65% year-on-year growth in net profit, reaching $26.9 billion USD, ranking 6th. Alibaba and Midea Group secured the 9th and 31st positions, respectively.
Driven by favorable visa-free policies and a tourism surge, Trip.com and Mindray Medical, both led by CKGSB alumni, ranked among the top 10 companies by net profit margin, each exceeding 31%, and were the only representatives from the internet and healthcare sectors in that group.
In terms of return on equity (ROE), Haidilao stood out with an ROE exceeding 45%, securing 3rd place. Other CKGSB alumni-led firms such as Mindray Medical, Anta, TCL Industries, Wens Foodstuff, China Hongqiao, and Tencent also made strong showings.
The 500 companies on this year’s list generated a combined USD 14.2 trillion in revenue, roughly three-quarters of China’s 2024 GDP, highlighting the economic weight of the listed enterprises and the resilience of China’s economy amid complex domestic and global economic challenges.
The inclusion of 71 CKGSB alumni-led companies on this prestigious list highlights the impactful role CKGSB alumni play in steering China’s high-quality economic development. Committed to developing globally minded, innovative business leaders, CKGSB empowers enterprise transformation and drive scalable, sustainable economic growth across industries.
