The “2025 Deloitte China Top 50 Hi-Tech Growth and Tomorrow Stars Report” and the list were released today. The report shows that the average three-year cumulative revenue growth rate of China's top 50 companies this year is 490%, a slight decrease compared to 2024, but the revenue growth rate of the top 10 companies is basically the same as 2024. In terms of revenue scale, among China's top 50 enterprises in 2025, the share of companies with revenue of 50 million to 100 million yuan increased significantly to 38%, and companies with revenue of 100 million or more accounted for 44%, the same as last year. In terms of geographical distribution, the Greater Bay Area accounts for 52%, with Shenzhen, Shanghai, Beijing, and Guangzhou steadily leading the way. Zhao Jindong, National Managing Partner of Deloitte's China Hi-Tech High Growth Program, said, “23% of China's top 50 companies and 66% of Tomorrow's Star companies invest more than 50% of their revenue in AI R&D. However, whether it is China's top 50 companies or tomorrow's star companies, they all face challenges such as a shortage of high-tech talents, insufficient application of AI technology in business scenarios, and rising R&D costs. Furthermore, more and more technology companies are evolving AI agents from tooling to digital employees.”

The “2025 Deloitte China Top 50 Hi-Tech Growth and Tomorrow Stars Report” and the list were released today. The report shows that the average three-year cumulative revenue growth rate of China's top 50 companies this year is 490%, a slight decrease compared to 2024, but the revenue growth rate of the top 10 companies is basically the same as 2024. In terms of revenue scale, among China's top 50 enterprises in 2025, the share of companies with revenue of 50 million to 100 million yuan increased significantly to 38%, and companies with revenue of 100 million or more accounted for 44%, the same as last year. In terms of geographical distribution, the Greater Bay Area accounts for 52%, with Shenzhen, Shanghai, Beijing, and Guangzhou steadily leading the way. Zhao Jindong, National Managing Partner of Deloitte's China Hi-Tech High Growth Program, said, “23% of China's top 50 companies and 66% of Tomorrow's Star companies invest more than 50% of their revenue in AI R&D. However, whether it is China's top 50 companies or tomorrow's star companies, they all face challenges such as a shortage of high-tech talents, insufficient application of AI technology in business scenarios, and rising R&D costs. Furthermore, more and more technology companies are evolving AI agents from tooling to digital employees.”