Gaming Giant miHoYo Enters Top 50 Most Valuable Chinese Companies

Developer miHoYo has secured its position among China’s 50 most valuable companies, according to the latest Hurun China 500 Most Valuable Private Companies report released on February 25. The Shanghai-based game studio now ranks 48th overall with a valuation of $24.2 billion, representing an 8% increase year-over-year. This marks a significant milestone in miHoYo’s growth trajectory, having first entered the Hurun 500 list in 2022 at position #253 with a valuation of $7.1 billion.

Despite remaining privately held and not publicly traded, miHoYo continues to demonstrate steady growth, though at a slower pace compared to previous years. The company’s valuation increased from $22.4 billion in 2023 to its current $24.2 billion. The Hurun Research Institute also ranked miHoYo as the 12th largest privately held company globally, positioned between Citadel Securities ($22 billion) and Telegram ($30 billion).

The gaming industry maintained a strong presence on the Hurun list, with tech giant Tencent claiming the second position overall at $473 billion (up 20%), while NetEase ranked 19th at $54.8 billion (down 26.3%). Other notable gaming-related companies included ByteDance at #3 ($225.4 billion, +16%) and Bilibili at #203 ($7.9 billion, +27%).

The Hurun China 500 report, which includes both privately held firms and publicly traded companies not controlled by the state, showed a 13% overall increase in total valuation, reaching $7.8 trillion. Companies needed a market capitalization of at least $3.7 billion to make the list, with semiconductor manufacturer TSMC maintaining its position as the most valuable Chinese company for the fourth consecutive year at $965 billion.

According to Hurun chairman Rupert Hoogewerf, industries showing the strongest growth this year included Industrial Products, Semiconductors, and Software Services, reflecting advancements in smart manufacturing and the digital economy.