Digital advertising media in Central Asia

Chinese brands · Technology

297 platforms, software houses and chip makers.

China's technology economy in one place — social, gaming, e-commerce, local services, logistics, fintech, cloud, enterprise software, AI, robotics and semiconductors. This is the depth of the market that is now looking outward.

Companies
297
Sectors
20
Market caps
USD, with tenge equivalents at 455 KZT/USD
Scale, and then discipline

Not every company on this wall will buy media in Tashkent. The point is who is behind them.

How to read this

This wall is evidence of scale, not a list of confirmed advertisers. Databases, chip makers and operating-system vendors do not buy billboards. The game studios, the e-commerce platforms, the phone makers, the short-drama apps and the cross-border tools do — and they buy outside China first.

Read it the way an investor reads a market: 297 companies, most of them listed, covering every layer of a technology economy. The ones with foreign users are the ones whose marketing money leaves China. Those are the clients we are bringing to your inventory.

Market capitalization is given in US dollars with tenge equivalents at the rate the National Bank of Kazakhstan published on 6 October 2026 (455 KZT/USD).

  • 60 of these companies already sell to consumers outside China — games, e-commerce, short drama, phones, utilities
  • Where a subsidiary's parent is listed, the parent's market cap is stated and marked
  • Sectors are ordered by how close they already are to media spending abroad
Sector 01

Social & content communities

SOCIAL & CONTENT COMMUNITIES

27 brands

Kuaishou · 快手

China's No.2 short-video platform: 400m+ daily users and a live-commerce base in lower-tier cities. Market cap approx. USD 16.6 bn.

Xiaohongshu (RED) · 小红书

China's largest lifestyle community — around 300m monthly users and the default research step before a purchase. Market cap est. USD 4.0-5.7 bn.

Bilibili · 哔哩哔哩

China's largest youth video community: anime, gaming and long-form knowledge content. Market cap approx. USD 6.2 bn.

Weibo · 微博

China's public square — where trending news breaks and where brands buy reach. Market cap approx. USD 1.6 bn.

Zhihu · 知乎

China's largest question-and-answer knowledge community, at the top of the funnel for considered purchases. Market cap approx. USD 0.29 bn.

Hello Group · 挚文集团

Owner of Momo and Tantan, in China's first tier of stranger-social apps. Market cap approx. USD 0.67 bn.

Newborn Town · 赤子城科技

A China-born social group (MICO, Yumy) that monetises in the Middle East and South Asia — global from day one. Market cap approx. USD 1.7 bn.

JOYY · 欢聚集团

Veteran live-streaming group behind BIGO and Likee, with strong Middle East and Southeast Asia bases. Market cap approx. USD 3.9 bn.

Soul · Soul

China's largest anonymous social app, built on matching rather than looks. Market cap est. USD 0.70-1.5 bn.

Tencent Games · 腾讯游戏

The world's largest games company by revenue — Honor of Kings and PUBG Mobile.

NetEase Games · 网易游戏

China's No.2 games company, known for long-running self-developed franchises. Market cap approx. USD 76.4 bn.

ByteDance · 字节跳动

One of the world's most valuable private technology groups: Douyin and TikTok under one roof. Not listed; no public market cap.

TikTok · TikTok

The export flagship of Chinese technology, with more than 1.5bn monthly users. Not listed; no public market cap.

Douyin · 抖音

China's No.1 short-video platform: 700m+ daily users and the country's biggest live-commerce engine. Not listed; no public market cap.

Toutiao · 今日头条

The company that invented algorithmic news feeds in China. Not listed; no public market cap.

Tencent Holdings · 腾讯控股

China's most valuable internet company — social, gaming, payments and cloud.

WeChat · 微信

China's super-app with 1.3bn+ monthly users; national infrastructure as much as a product. Not listed; no public market cap.

QQ · QQ

China's original mass-market messenger, still at 500m-scale monthly users. Not listed; no public market cap.

Baidu · 百度集团

China's search leader and the most heavily invested old-guard player in AI models. Market cap approx. USD 29.4 bn.

NetEase · 网易

China's No.2 games company, with music, education and mail attached. Market cap approx. USD 76.9 bn.

Sohu · 搜狐

One of China's first web portals; profits now come mainly from its Changyou games unit. Market cap approx. USD 0.33 bn.

Sina · 新浪

A veteran portal and Weibo's parent, taken private. Not listed; no public market cap.

Douban · 豆瓣

The most influential book, film and music rating community in the Chinese language. Not listed; no public market cap.

Hupu · 虎扑

China's largest vertical sports community, with a distinct male-fan culture. Not listed; no public market cap.

Maimai · 脉脉

China's largest professional networking platform. Not listed; no public market cap.

Xueqiu · 雪球

China's largest investing community and the home of its value investors. Not listed; no public market cap.

Smzdm · 值得买

The only listed shopping-guidance community in China — a standard step in purchase decisions. Market cap approx. USD 1.1 bn.

Sector 02

Gaming

GAMING

22 brands

miHoYo · 米哈游

China's No.3 games company by revenue; Genshin Impact opened the global anime open-world genre. Market cap est. USD 30.0-50.0 bn.

Century Games · 点点互动

Overseas publisher of casual and strategy titles, tied to the FunPlus and Century Huatong network. Not listed; no public market cap.

Lemon Microfun · 柠檬微趣

Casual match-3 developer that earns its revenue in Europe and North America. Not listed; no public market cap.

Lilith Games · 莉莉丝游戏

Top-tier Chinese strategy developer and publisher (Rise of Kingdoms, AFK Arena). Market cap est. USD 1.0-2.0 bn.

Jiangyu Interactive · 江娱互动

A small and mid-size self-publishing games studio. Not listed; no public market cap.

Camel Games · 壳木游戏

Chinese overseas publisher known for realistic medieval-war strategy titles. Not listed; no public market cap.

37 Interactive · 三七互娱

One of the A-share games leaders, with the industry's strongest paid-acquisition machine. Market cap approx. USD 5.7 bn.

Moonton · 沐瞳科技

ByteDance-owned studio behind Mobile Legends, Southeast Asia's national-level MOBA. Market cap on parent group: USD 50.0 bn.

Papergames · 叠纸游戏

China's No.1 studio for female-oriented games — the Mr Love series and Infinity Nikki. Market cap est. USD 1.0-2.0 bn.

Kuro Games · 库洛游戏

Developer of Wuthering Waves and one of China's strongest new anime-action studios. Market cap est. USD 0.40-1.0 bn.

Hypergryph · 鹰角网络

Developer of Arknights — an art- and reputation-driven Chinese studio. Market cap est. USD 0.40-1.0 bn.

FunPlus · FunPlus

Veteran Chinese strategy publisher; State of Survival has stayed on Western top-grossing charts. Market cap est. USD 1.0-2.0 bn.

IGG · IGG

Hong Kong-listed overseas strategy specialist behind Lords Mobile. Market cap approx. USD 0.44 bn.

Perfect World · 完美世界

Old-guard A-share games-and-film group from China's PC-gaming era. Market cap approx. USD 2.8 bn.

Giant Network · 巨人网络

A-share games company running the long-lived Zheng Tu franchise. Market cap approx. USD 6.4 bn.

Kingnet · 恺英网络

A-share games firm strong in the Legend genre and web-to-mobile conversions. Market cap approx. USD 5.1 bn.

Tuyoo Games · 途游游戏

A Chinese leader in card and casual games, mainly for China and Southeast Asia. Not listed; no public market cap.

Century Huatong · 世纪华通

Owner of Shengqu Games and a principal operator of the Legend IP. Market cap approx. USD 15.2 bn.

G-bits · 吉比特

Parent of Leiting Games and one of the highest-margin companies on the A-share market. Market cap approx. USD 3.6 bn.

XD Inc · 心动公司

Operator of TapTap, one of China's largest game communities and distribution channels. Market cap approx. USD 2.4 bn.

4399 · 4399

Pioneer of China's browser-game and mini-game portals. Not listed; no public market cap.

Boke Games · 波克城市

A leader in casual and card games going overseas. Not listed; no public market cap.

Sector 03

E-commerce & retail

E-COMMERCE & RETAIL

16 brands

Alibaba · 阿里巴巴

China's largest e-commerce and cloud group: Taobao and Tmall, Alibaba Cloud and Cainiao.

PDD Holdings · 拼多多

China's largest value e-commerce platform by market value, with Temu as its global second curve.

SHEIN · SHEIN

The world's largest fast-fashion direct-to-consumer site, built on small-batch flexible manufacturing. Market cap est. USD 30.0-60.0 bn.

JD.com · 京东

China's largest first-party retailer, with self-built logistics and a deep 3C and appliance franchise. Market cap approx. USD 35.5 bn.

Vipshop · 唯品会

China's largest branded-discount e-commerce platform. Market cap approx. USD 6.0 bn.

Dewu (Poizon) · 得物

China's largest trend and sneaker platform, trading on authentication first. Market cap est. USD 1.0-2.0 bn.

Xianyu · 闲鱼

China's largest C2C second-hand marketplace, inside Alibaba.

Zhuanzhuan · 转转

A leading Chinese second-hand 3C platform, built on inspection and buy-back. Market cap est. USD 0.20-0.60 bn.

Shoplazza · 店匠

A top Chinese cross-border store-building SaaS, positioned against Shopify. Market cap est. USD 0.10-0.40 bn.

East Buy · 东方甄选

New Oriental's livestream commerce arm and the pioneer of knowledge-led selling. Market cap approx. USD 3.4 bn.

Yaowang Technology · 遥望科技

Livestream commerce and short-video marketing services provider listed in Shenzhen. Market cap approx. USD 0.76 bn.

Tianxiaxiu (WEIQ) · 天下秀

China's first listed influencer-marketing company; WEIQ connects millions of creators. Market cap approx. USD 1.2 bn.

San Zhi Yang · 三只羊

A top Chinese MCN running one of Douyin's largest selling matrices. Not listed; no public market cap.

Wuyou Media · 无忧传媒

A leading MCN with one of China's largest rosters of streamers. Not listed; no public market cap.

Xinxuan · 辛选

Xinba's livestream commerce group, integrating supply chain and talent incubation. Not listed; no public market cap.

MeiOne · 美腕

The agency behind Li Jiaqi, one of China's top livestream commerce MCNs. Not listed; no public market cap.

Sector 04

Local services & mobility

LOCAL SERVICES & MOBILITY

15 brands

Meituan · 美团

China's leading local-services platform — in-store plus delivery, the infrastructure of service retail. Market cap approx. USD 55.7 bn.

DiDi · 滴滴出行

China's No.1 ride-hailing platform (about 70% share) and a major operator in Latin America. Market cap est. USD 2.0-4.0 bn.

Lalamove · 货拉拉

China's No.1 intra-city freight platform, whose overseas brand is Lalamove. Market cap est. USD 1.0-2.5 bn.

Full Truck Alliance · 满帮集团

China's largest digital road-freight platform (Yunmanman plus Huochebang). Market cap approx. USD 8.7 bn.

Hello Inc · 哈啰出行

China's largest two-wheel shared-mobility platform, extending into carpooling and rentals. Market cap est. USD 0.40-1.0 bn.

Amap · 高德地图

China's No.1 mobile map and navigation app, inside Alibaba.

Baidu Maps · 百度地图

China's No.2 mobile map, forming a duopoly with Amap. Market cap on parent group: USD 29.6 bn.

Beike · 贝壳找房

China's largest property transaction and services platform, built on its ACN broker network. Market cap approx. USD 18.4 bn.

58.com · 58同城

China's largest classifieds platform — jobs, property and used cars — taken private. Not listed; no public market cap.

T3 Mobility · T3出行

A ride-hailing platform built by FAW, Dongfeng and Changan, strong in compliant capacity. Not listed; no public market cap.

Dida Chuxing · 嘀嗒出行

China's No.1 carpooling platform, listed in Hong Kong. Market cap approx. USD 0.15 bn.

Shouqi Limousine · 首汽约车

A veteran state-owned ride-hailing platform, known for premium chauffeur service. Not listed; no public market cap.

Anjuke · 安居客

A 58-group property information platform, strong in resale and new-home traffic. Not listed; no public market cap.

Tubatu · 土巴兔

China's leading online home-renovation platform. Not listed; no public market cap.

Juran Smart Home · 居然智家

A leader in home-retail digitalization, running both stores and online channels. Market cap approx. USD 2.1 bn.

Sector 05

Travel

TRAVEL

7 brands

Trip.com Group · 携程集团

China's largest online travel platform and a global top-three OTA; Trip.com is its fastest-growing brand. Market cap approx. USD 24.1 bn.

Tongcheng Travel · 同程旅行

China's No.2 online travel platform (Tencent-linked), strong in lower-tier cities and ticketing. Market cap approx. USD 2.9 bn.

Fliggy · 飞猪

Alibaba's online travel platform, aimed at outbound travel and younger users.

Qunar · 去哪儿

A Ctrip-group travel platform that began as a flight price-comparison search engine. Market cap on parent group: USD 24.1 bn.

Tujia · 途家

One of China's largest home-sharing booking platforms, tied closely to the Ctrip ecosystem. Market cap est. USD 0.10-0.40 bn.

Xiaozhu · 小猪

A leading Chinese short-let platform built around distinctive homes and host communities. Market cap est. USD 0.05-0.20 bn.

Mafengwo · 马蜂窝

China's largest travel community and guide platform. Not listed; no public market cap.

Sector 06

Logistics & supply chain

LOGISTICS & SUPPLY CHAIN

20 brands

Cainiao · 菜鸟网络

Alibaba's logistics network: global warehousing plus China's largest parcel pick-up network.

J&T Express · 极兔速递

A China-and-Southeast-Asia parcel giant that fought its way into China's top five on price. Market cap approx. USD 11.0 bn.

SF Holding · 顺丰控股

China's most profitable and fastest express operator, the leader in premium and air freight. Market cap approx. USD 23.4 bn.

JD Logistics · 京东物流

China's No.1 integrated supply-chain logistics provider by warehousing and fulfilment capability. Market cap approx. USD 8.3 bn.

ZTO Express · 中通快递

China's parcel-volume leader for years running, with the industry's lowest cost per parcel. Market cap approx. USD 14.8 bn.

YTO Express · 圆通速递

A top-three Chinese express operator and one of the listed Tongda-network leaders. Market cap approx. USD 9.1 bn.

STO Express · 申通快递

A founding member of China's Tongda express network, in the top three to five by volume. Market cap approx. USD 3.3 bn.

Yunda Holding · 韵达股份

A core Tongda-network express operator, consistently in China's top four by volume. Market cap approx. USD 3.0 bn.

Zongteng Group · 纵腾集团

A first-tier Chinese cross-border logistics group (GoodCang) with one of China's largest overseas warehouse networks. Market cap est. USD 0.40-1.0 bn.

Yanwen Logistics · 燕文物流

A leading Chinese cross-border parcel service, strong in dedicated lines and postal channels. Market cap est. USD 0.10-0.40 bn.

4PX · 递四方

A veteran Chinese cross-border logistics group working closely with Cainiao. Market cap est. USD 0.40-1.0 bn.

YQN · 运去哪

A first-tier Chinese digital international-logistics platform focused on online ocean booking. Market cap est. USD 0.10-0.40 bn.

Deppon Logistics · 德邦股份

China's leader in bulky and less-than-truckload logistics, now controlled by JD.com. Not listed; no public market cap.

ANE Logistics · 安能物流

A leading franchise-network LTL operator in China, taken private. Not listed; no public market cap.

KuaYue Group · 跨越速运

A leader in time-definite air express between Chinese provinces. Not listed; no public market cap.

FlashEx · 闪送

China's first listed on-demand, one-to-one delivery service. Market cap approx. USD 0.11 bn.

SF Intra-city · 顺丰同城

A first-tier instant-delivery operator inside the SF group. Market cap approx. USD 0.97 bn.

Hive Box · 丰巢

China's largest operator of smart parcel lockers. Not listed; no public market cap.

Dada Group · 达达集团

Operator of on-demand delivery and JD Daojia, taken private. Not listed; no public market cap.

RRS · 日日顺

A leader in bulky-item logistics and supply-chain services, part of the Haier group. Not listed; no public market cap.

Sector 07

Fintech & payments

FINTECH & PAYMENTS

18 brands

Ant Group · 蚂蚁集团

China's largest fintech group — Alipay, digital finance and the OceanBase stack. Not listed; no public market cap.

Tencent FinTech · 腾讯金融科技

Tencent's payments and financial arm; WeChat Pay is one of China's two clearing networks.

WeBank · 微众银行

China's largest private bank (Tencent-linked); Weilidai is its biggest online micro-loan product. Market cap est. USD 3.0-6.0 bn.

LianLian DigiTech · 连连数字

A Chinese cross-border and digital payment provider holding licences in several countries. Market cap approx. USD 0.46 bn.

PingPong · PingPong

A first-tier Chinese cross-border collection and payout platform for e-commerce sellers. Market cap est. USD 0.40-1.0 bn.

XTransfer · XTransfer

A first-tier B2B trade-payment platform for Chinese exporters, with built-in risk control. Market cap est. USD 0.40-1.0 bn.

Airwallex · 空中云汇

A global cross-border payments and financial-infrastructure challenger built on multi-currency business accounts. Market cap est. USD 6.0-10.0 bn.

Futu Holdings · 富途控股

A leading online broker for Hong Kong and overseas markets, with a strong trading community. Market cap approx. USD 15.4 bn.

UP Fintech · 老虎证券

An online broker for Chinese-speaking investors across US and Hong Kong markets. Market cap approx. USD 0.79 bn.

ZhongAn Online · 众安保险

China's first internet insurer, founded by Ant, Tencent and Ping An. Market cap approx. USD 2.0 bn.

WeLab · WeLab

A Hong Kong fintech group whose WeLab Bank is among the city's first virtual banks. Market cap est. USD 0.20-0.60 bn.

LexinFintech · 乐信

A Chinese instalment e-commerce and consumer-credit platform (Fenqile). Market cap approx. USD 0.11 bn.

Jiayin Group · 嘉银金科

A Chinese loan-facilitation company connecting borrowers with financial institutions. Market cap approx. USD 0.07 bn.

Lakala · 拉卡拉

A leading Chinese third-party acquirer and the first payments company listed on the A-share market. Market cap approx. USD 2.3 bn.

Huifu Payment · 汇付天下

A veteran Chinese third-party payment institution, taken private. Not listed; no public market cap.

UnionPay QuickPass · 银联云闪付

The official mobile-payment brand of China UnionPay, at the core of the state payment system. Not listed; no public market cap.

YeePay · 易宝支付

A veteran Chinese third-party payment provider focused on industry solutions. Not listed; no public market cap.

Suixingfu · 随行付

A leading Chinese merchant-acquiring institution. Not listed; no public market cap.

Sector 08

Live streaming & A/V

LIVE STREAMING & A/V

8 brands

BIGO · BIGO

The most successful Chinese live-streaming export (Bigo Live, Likee), strongest in the Middle East and Southeast Asia. Market cap on parent group: USD 3.9 bn.

Huya · 虎牙

China's No.1 game-streaming platform (Tencent-linked), with the deepest streamer ecosystem. Market cap approx. USD 0.52 bn.

Agora · 声网

A first-tier global real-time audio and video cloud service with a strong developer ecosystem. Market cap approx. USD 0.35 bn.

ZEGO · 即构科技

A leading Chinese real-time A/V cloud vendor, strong in entertainment and overseas use cases. Market cap est. USD 0.05-0.20 bn.

NetEase Yunxin · 网易云信

NetEase's communications and A/V PaaS (IM plus RTC) for enterprise-grade stability and compliance. Market cap on parent group: USD 75.7 bn.

Qiniu Cloud · 七牛云

A veteran Chinese cloud storage and media service provider listed in Hong Kong. Market cap approx. USD 0.1 bn.

iQIYI · 爱奇艺

A first-tier Chinese long-form video platform with a large subscription base. Market cap approx. USD 0.96 bn.

Mango Excellent Media · 芒果超媒

Parent of Mango TV, the state-backed long-video platform with China's strongest in-house variety production. Market cap approx. USD 5.9 bn.

Sector 09

Cloud services

CLOUD SERVICES

13 brands

Alibaba Cloud · 阿里云

China's largest public cloud (about a third of the market) and a global top-three provider.

Huawei Cloud · 华为云

China's No.2 public cloud, strong in government and enterprise and differentiated by Ascend compute. Not listed; no public market cap.

Tencent Cloud · 腾讯云

China's No.3 public cloud, known for A/V, gaming and digitalization solutions.

Baidu AI Cloud · 百度智能云

China's No.4 public cloud, built around ERNIE models and intelligent transport. Market cap on parent group: USD 29.6 bn.

Kingsoft Cloud · 金山云

Among the largest independent Chinese cloud providers, listed in Hong Kong and the US and tied to Xiaomi. Market cap approx. USD 2.8 bn.

UCloud · UCloud

China's neutral third-party cloud provider, listed on the A-share market. Market cap approx. USD 1.9 bn.

QingCloud · 青云科技

A Chinese hybrid-cloud and cloud-native provider focused on enterprise private cloud. Market cap approx. USD 0.32 bn.

Baishan Cloud · 白山云科技

A Chinese edge-cloud and CDN provider that has filed for the STAR Market. Market cap est. USD 0.10-0.40 bn.

Wangsu Science · 网宿科技

A veteran Chinese CDN and edge-computing leader serving top internet and government clients. Market cap approx. USD 5.5 bn.

UPYUN · 又拍云

A veteran Chinese cloud storage and CDN provider, strong with developers. Market cap est. USD 0.05-0.20 bn.

China Telecom Cloud · 天翼云

China Telecom's cloud arm — the No.1 state-owned cloud and a domestic top-three by revenue. Market cap approx. USD 52.8 bn.

China Mobile Cloud · 移动云

China Mobile's cloud arm, the fastest-growing state-owned cloud.

China Unicom Cloud · 联通云

China Unicom's cloud arm, the third pole of China's state-owned clouds. Market cap approx. USD 21.7 bn.

Sector 10

Collaboration & enterprise services

COLLABORATION & ENTERPRISE SERVICES

21 brands

Kingsoft Office · 金山办公

China's No.1 office-software maker (WPS) and a successful subscription conversion. Market cap approx. USD 15.1 bn.

DingTalk · 钉钉

China's largest enterprise collaboration platform with 600m+ users, inside Alibaba.

Feishu (Lark) · 飞书

ByteDance's collaboration platform, known for documents, multi-dimensional tables and OKRs in one place. Market cap on parent group: USD 50.0 bn.

WeCom · 企业微信

China's No.2 enterprise platform; direct integration with WeChat is its unique advantage.

Tencent Meeting · 腾讯会议

China's No.1 cloud video-conferencing software, adopted nationwide.

Weimeng · 微盟

A leading Chinese smart-commerce SaaS (Tencent-linked) combining private-domain operations and ad agency work. Market cap approx. USD 0.41 bn.

Beisen · 北森

China's largest talent-management SaaS (HCM) and an integrated HR platform. Market cap approx. USD 0.29 bn.

ShareCRM · 纷享销客

A first-tier Chinese CRM vendor focused on mid-size and large enterprises. Market cap est. USD 0.20-0.60 bn.

Neocrm · 销售易

A top Chinese CRM vendor (Tencent-backed) known for its customer-centric product approach. Market cap est. USD 0.20-0.60 bn.

Mingyuan Cloud · 明源云

China's leading real-estate digitalization software vendor (ERP and SaaS). Market cap approx. USD 0.21 bn.

Kingdee · 金蝶

China's No.2 enterprise management software (ERP) vendor and the most thorough cloud convert. Market cap approx. USD 3.3 bn.

Inspur · 浪潮信息

China's No.1 server shipper and a leading global supplier of AI servers. Market cap approx. USD 14.4 bn.

iSoftStone · 软通动力

A top Chinese IT services firm and one of Huawei's largest ecosystem partners. Market cap approx. USD 5.4 bn.

China National Software · 中国软件

A state champion in domestic IT and a major shareholder in Kylinsoft and Dameng. Market cap approx. USD 4.3 bn.

Digital China · 神州数码

China's No.1 IT distributor, now converting into cloud and domestic-technology services. Market cap approx. USD 3.5 bn.

Sinosoft · 中科软

China's No.1 insurance IT vendor, with leading share in financial-industry software. Market cap approx. USD 1.7 bn.

Chinasoft International · 中国软件国际

Huawei's largest IT outsourcing partner and a top Chinese IT services provider. Market cap approx. USD 1.4 bn.

Weaver Network · 泛微网络

A leading Chinese collaboration (OA) software vendor and the first listed OA company in China. Market cap approx. USD 1.6 bn.

Neusoft · 东软集团

A veteran Chinese software group, leading in social-security and healthcare IT. Market cap approx. USD 1.4 bn.

Seeyon · 致远互联

A collaboration-management software vendor listed on the STAR Market. Market cap approx. USD 0.33 bn.

Landray · 蓝凌软件

A leader in collaboration and knowledge management, part-owned by Alibaba. Not listed; no public market cap.

Sector 11

Industrial & vertical software

INDUSTRIAL & VERTICAL SOFTWARE

16 brands

Supcon · 中控技术

China's No.1 process-industry automation (DCS) vendor. Market cap approx. USD 9.4 bn.

Shiji Group · 石基信息

China's No.1 hotel and F&B IT vendor, with the widest global hotel-systems footprint of any Chinese company. Market cap approx. USD 3.0 bn.

ZWSOFT · 中望软件

China's No.1 CAD/CAM industrial design software vendor and the main domestic substitute. Market cap approx. USD 1.3 bn.

Baosight · 宝信软件

China's No.1 steel-industry IT and industrial-internet vendor, part of the Baosteel group. Market cap approx. USD 7.5 bn.

Hollysys · 和利时

A leading Chinese industrial automation (DCS/PLC) vendor, taken private from Nasdaq. Not listed; no public market cap.

Glodon · 广联达

China's No.1 construction digitalization software vendor, dominant in cost-estimating software. Market cap approx. USD 2.1 bn.

Empyrean · 华大九天

China's No.1 EDA vendor and the only full-flow domestic supplier for analogue circuits. Market cap approx. USD 6.9 bn.

Digiwin · 鼎捷数智

A leading Chinese manufacturing ERP vendor with deep discrete-manufacturing coverage. Market cap approx. USD 1.5 bn.

Sieye Information · 赛意信息

An enterprise digitalization services firm focused on manufacturing and ERP implementation. Market cap approx. USD 1.7 bn.

Hand Enterprise · 汉得信息

A veteran Chinese enterprise digitalization services firm that grew up on SAP and Oracle delivery. Market cap approx. USD 2.4 bn.

Nancal · 能科科技

A Chinese smart-manufacturing and industrial-software services firm focused on high-end equipment. Market cap approx. USD 1.5 bn.

Hualong Xunda · 华龙讯达

A Chinese industrial automation and industrial-internet vendor. Not listed; no public market cap.

WellinTech · 亚控科技

China's No.1 domestic SCADA software vendor; KingView is the reference domestic HMI product. Market cap est. USD 0.10-0.40 bn.

ForceControl · 力控科技

A Chinese domestic SCADA and industrial-monitoring software vendor. Not listed; no public market cap.

Sysware · 索为系统

A Chinese industrial software and systems-engineering vendor focused on knowledge automation. Market cap est. USD 0.10-0.40 bn.

PERA Global · 安世亚太

One of China's largest CAE simulation software and services providers. Market cap est. USD 0.20-0.60 bn.

Sector 12

Infrastructure software, databases & OS

INFRASTRUCTURE SOFTWARE, DATABASES & OS

21 brands

PingCAP · PingCAP

The global face of Chinese distributed databases (TiDB), built on open source plus cloud. Market cap est. USD 1.0-3.0 bn.

OceanBase · OceanBase

Ant's in-house distributed database, No.1 in Chinese financial-grade databases, now a standalone company.

TDSQL · TDSQL

Tencent's distributed database, running core systems at many Chinese banks.

openGauss · openGauss

Huawei's open-source relational database community and a pillar of China's domestic database stack. Not listed; no public market cap.

Dameng Database · 达梦数据

China's leading domestic database vendor and a core domestic-substitution asset. Market cap approx. USD 3.1 bn.

Kingbase · 人大金仓

A leading Chinese domestic database vendor (China Electronics), strong in government substitution. Market cap est. USD 1.0-3.0 bn.

GBase · 南大通用

A veteran Chinese domestic database vendor with both analytical and transactional lines. Market cap est. USD 0.30-0.80 bn.

Shenzhou General · 神舟通用

A Chinese domestic database vendor serving government and defence users. Market cap est. USD 0.10-0.40 bn.

TDengine · 涛思数据

A globalising Chinese time-series database, driven by open source and overseas markets. Market cap est. USD 0.20-0.60 bn.

FIT2CLOUD · 飞致云

A Chinese open-source commercialisation leader (JumpServer, MeterSphere, DataEase). Market cap est. USD 0.20-0.60 bn.

NebulaGraph · 悦数科技

China's No.1 graph database vendor. Market cap est. USD 0.10-0.40 bn.

Loongson · 龙芯中科

China's No.1 independent instruction-set CPU company (LoongArch), listed on the STAR Market. Market cap approx. USD 5.9 bn.

UnionTech · 统信软件

A first-tier Chinese operating system vendor (UOS), leading in government desktop share. Market cap est. USD 1.0-3.0 bn.

Kylinsoft · 麒麟软件

China's No.1 domestic operating system (Kylin), under China National Software. Market cap on parent group: USD 4.3 bn.

StarRocks · StarRocks

A new-generation high-speed MPP database, commercialised by Jingzhou Technology. Not listed; no public market cap.

SelectDB · SelectDB

The commercial edition of Apache Doris, operated by Feilun Technology. Not listed; no public market cap.

Kyligence · Kyligence

An intelligent OLAP and metrics platform from the original Apache Kylin team. Not listed; no public market cap.

SequoiaDB · 巨杉数据库

A distributed database vendor with strong adoption in financial services. Not listed; no public market cap.

Oushu · 偶数科技

Vendor of OushuDB, a cloud-native database. Not listed; no public market cap.

Transwarp · 星环科技

China's first listed big-data infrastructure software company. Market cap approx. USD 1.8 bn.

openEuler · openEuler

China's largest open-source server operating system community, led by Huawei. Not listed; no public market cap.

Sector 13

AI & robotics

AI & ROBOTICS

17 brands

Baidu Apollo · 百度Apollo

A first-tier Chinese autonomous-driving programme; Apollo Go runs one of the world's largest robotaxi fleets. Market cap on parent group: USD 29.6 bn.

DeepSeek · DeepSeek

China's foundation-model phenomenon, rewriting the global AI price curve with open weights. Market cap est. USD 30.0-60.0 bn.

Qwen (Alibaba) · 阿里千问

Alibaba's Qwen family — No.1 globally in open-model downloads and derivative models.

Doubao · 字节豆包

China's most-used AI assistant app and ByteDance's consumer AI gateway. Market cap on parent group: USD 50.0 bn.

Zhipu AI · 智谱AI

One of China's first-tier model developers, from Tsinghua, strong in GLM and government deployment. Market cap est. USD 3.0-8.0 bn.

MiniMax · MiniMax

One of China's first-tier model developers, monetising well abroad with Talkie. Market cap est. USD 3.0-8.0 bn.

Moonshot AI · 月之暗面

One of China's first-tier model developers; Kimi built its niche on long-context ability. Market cap est. USD 3.0-5.0 bn.

iFlytek · 科大讯飞

China's No.1 listed speech-AI company, with the widest deployment in education, offices and cars. Market cap approx. USD 13.3 bn.

Hunyuan (Tencent) · 腾讯混元

Tencent's in-house model family, embedded across WeChat and Tencent Cloud.

ERNIE (Baidu) · 百度文心

China's earliest-launched large-model product line and the core of Baidu's AI strategy. Market cap on parent group: USD 29.6 bn.

SenseTime · 商汤科技

A leader of China's AI-vision first tier, converting into compute plus models. Market cap approx. USD 6.6 bn.

CloudWalk · 云从科技

One of China's four AI-vision pioneers, listed in Shenzhen, focused on finance and government. Market cap approx. USD 1.5 bn.

Megvii · 旷视科技

One of China's four AI-vision pioneers, known for face recognition and the Hetu logistics robot. Market cap est. USD 1.0-2.5 bn.

Yitu Technology · 依图科技

One of China's four AI-vision pioneers, strong in medical AI and visual computing. Market cap est. USD 0.50-1.5 bn.

Unitree Robotics · 宇树科技

The global volume leader in quadruped and humanoid robots — China's standout robotics exporter. Market cap est. USD 5.0-15.0 bn.

DJI · 大疆创新

The world's dominant consumer-drone maker (about 70% share) and a global imaging and robotics force. Market cap est. USD 15.0-30.0 bn.

4Paradigm · 第四范式

China's No.1 enterprise decision-AI company, listed in Hong Kong. Market cap approx. USD 1.8 bn.

Sector 14

Cross-border SaaS & adtech

CROSS-BORDER SAAS & ADTECH

10 brands

AfterShip · AfterShip

A global leader in post-purchase and shipment-tracking SaaS for DTC brands. Market cap est. USD 0.50-1.5 bn.

Dianxiaomi · 店小秘

A first-tier Chinese cross-border e-commerce ERP with leading user scale in listing tools. Market cap est. USD 0.30-0.80 bn.

Lingxing · 领星

A top Amazon-seller ERP in China, known for financial and advertising analytics. Market cap est. USD 0.30-0.80 bn.

ECCANG · 易仓科技

A leading Chinese cross-border supply-chain ERP and overseas-warehouse management vendor. Market cap est. USD 0.30-0.80 bn.

Mabang ERP · 马帮ERP

A veteran Chinese cross-border ERP covering listing, orders and warehousing. Market cap est. USD 0.20-0.60 bn.

Captain BI · 船长BI

A leading data and BI tool for Chinese Amazon sellers. Market cap est. USD 0.10-0.40 bn.

Jijia ERP · 积加ERP

A Chinese Amazon-seller ERP vendor. Not listed; no public market cap.

Shenoo · 飞书深诺

A leading Chinese overseas-marketing agency holding top-tier Meta and Google partnerships. Market cap est. USD 0.30-0.80 bn.

Yeahmobi · 易点天下

China's first listed overseas-marketing technology company, specializing in programmatic buying. Market cap approx. USD 3.0 bn.

BlueVision · 蓝瀚互动

An overseas-marketing agency inside the BlueFocus group. Not listed; no public market cap.

Sector 15

Utilities & global apps

UTILITIES & GLOBAL APPS

12 brands

Foxit Software · 福昕软件

A global second-tier PDF software vendor with self-controlled document technology. Market cap approx. USD 0.76 bn.

Wondershare · 万兴科技

China's No.1 listed consumer creative-software exporter — video, diagramming and documents. Market cap approx. USD 1.4 bn.

Intsig · 合合信息

China's No.1 intelligent OCR vendor; CamScanner and CamCard have hundreds of millions of users. Market cap approx. USD 2.4 bn.

Meitu · 美图公司

China's No.1 image-editing app developer, now converting to AI imaging and subscriptions. Market cap approx. USD 2.1 bn.

Ruiqi Software · 睿琪软件

A Chinese developer of consumer utility apps for overseas markets. Not listed; no public market cap.

Kika Tech · Kika Tech

The world's largest third-party keyboard maker (Kika Keyboard) and a Chinese overseas-tools leader. Market cap est. USD 0.20-0.60 bn.

Kunlun Tech · 昆仑万维

A veteran Chinese overseas internet group spanning games, Opera, AI and social. Market cap approx. USD 7.7 bn.

SHAREit · 茄子科技

Parent of SHAREit, with more than 2bn users worldwide in transfer and content distribution. Market cap est. USD 0.50-1.5 bn.

Kingsoft Corp · 金山软件

Parent of WPS and Seasun Games — office software plus gaming. Market cap approx. USD 4.4 bn.

Sogou · 搜狗

No.1 in input methods and No.2 in search, now folded into Tencent. Not listed; no public market cap.

Huorong Security · 火绒安全

China's best-regarded endpoint security software vendor. Not listed; no public market cap.

Maxthon · 傲游

A veteran Chinese browser maker. Not listed; no public market cap.

Sector 16

Content going global

CONTENT GOING GLOBAL

9 brands

Crazy Maple Studio · 枫叶互动

A first-tier Chinese short-drama exporter (ReelShort) and the pioneer of the North American market. Market cap est. USD 1.0-3.0 bn.

China Literature · 阅文集团

China's largest online literature platform and the hub of IP-to-screen adaptation. Market cap approx. USD 2.5 bn.

Fanqie Novel · 番茄小说

China's largest free-to-read web-novel platform (ByteDance), which rewrote the industry with an ad model. Market cap on parent group: USD 50.0 bn.

iReader · 掌阅科技

China's No.2 digital reading platform, running both devices and content. Market cap approx. USD 1.6 bn.

COL Digital · 中文在线

A Chinese digital publishing and web-novel export player, growing fast in overseas short drama. Market cap approx. USD 2.5 bn.

TME · 腾讯音乐

China's No.1 online music group (QQ Music, Kugou, Kuwo) and a global streaming revenue leader. Market cap approx. USD 12.8 bn.

NetEase Cloud Music · 网易云音乐

China's No.2 music platform, differentiated by its community and comment culture. Market cap approx. USD 2.2 bn.

Migu · 咪咕

China Mobile's digital content platform — video, music, reading and sports rights.

Transsion · Transsion

The 'king of African phones': No.1 smartphone share in Africa, extending into appliances and mobile services. Market cap approx. USD 9.2 bn.

Sector 17

Recruitment, education & new services

RECRUITMENT, EDUCATION & NEW SERVICES

21 brands

Kanzhun (BOSS Zhipin) · BOSS直聘

China's No.1 online recruitment platform; its direct-chat model reshaped the industry. Market cap approx. USD 7.1 bn.

Liepin · 猎聘

China's leading platform for senior and specialist recruitment. Market cap approx. USD 0.13 bn.

51job · 前程无忧

One of China's earliest online recruitment platforms, taken private. Not listed; no public market cap.

PalFish · 伴鱼

A Chinese children's English and online education exporter with a high overseas revenue share. Market cap est. USD 0.20-0.60 bn.

Yuanfudao · 猿辅导

A top Chinese K-12 online education company, now pivoting to hardware and overseas markets. Market cap est. USD 1.0-3.0 bn.

Zuoyebang · 作业帮

A top Chinese K-12 company that began with photo-based homework search. Market cap est. USD 1.0-3.0 bn.

Qianxun · 谦寻

A leading Chinese livestream commerce MCN with a supply-chain and talent focus. Not listed; no public market cap.

Be Friends · 交个朋友

A leading Chinese livestream commerce MCN (Luo Yonghao's), listed in Hong Kong. Market cap approx. USD 0.12 bn.

Squirrel AI · 松鼠AI

A Chinese adaptive-learning pioneer, now pivoting to smart hardware and SaaS. Market cap est. USD 0.30-1.0 bn.

Onion Academy · 洋葱学园

A leading Chinese digital literacy-education content brand with huge reach through short video. Market cap est. USD 0.20-0.60 bn.

Xiaoe-tech · 小鹅通

China's No.1 knowledge-commerce and private-domain livestream SaaS. Market cap est. USD 0.30-0.80 bn.

Emotibot · 竹间智能

A Chinese conversational AI and affective-computing vendor for enterprise AI platforms. Market cap est. USD 0.10-0.40 bn.

DeepBlue Technology · 深兰科技

A Chinese AI and autonomous-driving company, a former AI unicorn. Market cap est. USD 0.20-0.80 bn.

CVTE · 视源股份

The world's No.1 maker of LCD controller boards, behind the Seewo and MAXHUB brands. Market cap approx. USD 4.7 bn.

TAL Education · 好未来

A top Chinese K-12 education group and parent of Xueersi. Market cap approx. USD 7.0 bn.

New Oriental · 新东方

China's best-known education brand and parent of East Buy. Market cap approx. USD 8.8 bn.

Youdao · 网易有道

A leader in smart learning hardware and online education, under NetEase. Market cap approx. USD 2.0 bn.

Gaotu Techedu · 高途

A leading Chinese online large-class education company. Market cap approx. USD 0.62 bn.

Fenbi · 粉笔

China's No.1 provider of civil-service exam preparation. Market cap approx. USD 0.09 bn.

VIPKID · VIPKID

A leading Chinese online children's English platform. Not listed; no public market cap.

Zhaopin · 智联招聘

A second-tier Chinese recruitment platform, taken private. Not listed; no public market cap.

Sector 18

Chips & compute

CHIPS & COMPUTE

11 brands

SMIC · 中芯国际

Mainland China's No.1 wafer foundry and the world's third largest.

Cambricon · 寒武纪

China's No.1 listed AI chip company and a leader in cloud training chips. Market cap approx. USD 94.6 bn.

Hygon · 海光信息

A leader in domestic CPUs and DCUs and the main vehicle for x86-standard localization. Market cap approx. USD 78.6 bn.

Montage Technology · 澜起科技

One of the world's three memory-interface chip leaders and a core DDR5 beneficiary. Market cap approx. USD 36.8 bn.

Sugon · 中科曙光

A leader in high-performance computing and servers, core to domestic technology substitution. Market cap approx. USD 17.4 bn.

Jingjia Micro · 景嘉微

China's first listed GPU company, which began in graphics display and control. Market cap approx. USD 4.0 bn.

Horizon Robotics · 地平线机器人

China's No.1 smart-driving chip company, with leading Journey-series deployment. Market cap approx. USD 8.1 bn.

Black Sesame · 黑芝麻智能

An automotive-grade smart-driving chip vendor listed in Hong Kong. Market cap approx. USD 0.86 bn.

Enflame · 燧原科技

An AI training-chip unicorn backed by Tencent. Not listed; no public market cap.

Biren Technology · 壁仞科技

A general-purpose GPU unicorn. Not listed; no public market cap.

Moore Threads · 摩尔线程

A full-function GPU unicorn. Not listed; no public market cap.

Sector 19

Robotics

ROBOTICS

9 brands

UBTech · 优必选

The first listed humanoid-robot company, ahead on commercialising its Walker series. Market cap approx. USD 4.8 bn.

Roborock · 石头科技

A global leader in robot vacuums and a benchmark for Chinese brand-building abroad. Market cap approx. USD 4.6 bn.

Ecovacs · 科沃斯

China's No.1 service-robot company and the country's leading robot-vacuum brand. Market cap approx. USD 4.3 bn.

Estun Automation · 埃斯顿

China's No.1 industrial robot maker and the main domestic substitute. Market cap approx. USD 4.1 bn.

Topstar · 拓斯达

An industrial robot and smart-equipment vendor listed on the A-share market. Market cap approx. USD 2.1 bn.

Fourier Intelligence · 傅利叶智能

A leader in rehabilitation robots and humanoid robots. Not listed; no public market cap.

AgiBot · 智元机器人

A humanoid-robot unicorn. Not listed; no public market cap.

Galbot · 银河通用

An embodied-intelligence unicorn with a leading general-purpose robot platform. Not listed; no public market cap.

Dreame · 追觅科技

A leader in cleaning appliances going global, originally from the Xiaomi ecosystem. Not listed; no public market cap.

Sector 20

Hardware & devices

HARDWARE & DEVICES

4 brands

Xiaomi · 小米集团

The world's No.3 smartphone maker, running a phone-plus-AIoT-plus-EV strategy. Market cap approx. USD 78.7 bn.

Lenovo · 联想集团

The world's No.1 PC maker and one of its largest server vendors. Market cap approx. USD 57.5 bn.

Huawei · 华为

China's technology parent company: No.1 globally in telecom equipment, with in-house silicon. Not listed; no public market cap.

Honor · 荣耀

A leading Chinese smartphone brand, spun out of Huawei's system. Not listed; no public market cap.

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