Home News miHoYo Joins China’s Top 50 Most Valuable Companies with $24.2 Billion Valuation

miHoYo Joins China’s Top 50 Most Valuable Companies with $24.2 Billion Valuation

Shanghai-based game developer miHoYo has ascended to the 48th position in China’s top 50 most valuable companies, achieving a valuation of $24.2 billion, according to the latest Hurun China 500 Most Valuable Private Companies report.

miHoYo’s Remarkable Growth Trajectory

In 2022, miHoYo debuted on the Hurun 500 list at position 253 with a valuation of $7.1 billion. By 2023, the company’s value had surged to $22.4 billion, securing the 51st spot. The latest report indicates a continued upward trend, with miHoYo now ranking 48th at $24.2 billion, marking an 8% year-over-year increase.

Global Standing Among Privately Held Companies

miHoYo’s impressive valuation also places it as the 12th largest privately held company globally. It sits between Citadel Securities, valued at $22 billion, and Telegram at $30 billion.

Gaming Industry Leaders in the Hurun List

The gaming sector has a strong representation in the Hurun rankings:

Tencent: Secured the 2nd position with a valuation of $473 billion, reflecting a 20% increase.
ByteDance: Ranked 3rd at $225.4 billion, marking a 16% rise.
NetEase: Held the 19th spot with $54.8 billion, though it experienced a 26.3% decrease.
Bilibili: Positioned at 203rd with a valuation of $7.9 billion, showing a 27% growth.

Insights from the Hurun China 500 Report

The Hurun China 500 report encompasses both privately held firms and publicly traded companies not controlled by the state. The total valuation of these companies saw a 13% increase, reaching $7.8 trillion. To make the list, a company required a market capitalization of at least $3.7 billion. Semiconductor manufacturer TSMC maintained its position as the most valuable Chinese company for the fourth consecutive year, boasting a valuation of $965 billion.

Rupert Hoogewerf, chairman of Hurun, highlighted that industries such as Industrial Products, Semiconductors, and Software Services exhibited the strongest growth. This trend reflects advancements in smart manufacturing and the digital economy.

Tags:

Cognosphere Genshin Impact Honkai Impact 3rd Honkai: Star Rail Hoyoverse MiHoYo Zenless Zone Zero

Sai T.

Sai is a social media manager and senior web content creator who spends his days juggling game research, deadlines, and the usual existential crisis. When he isn’t crafting content that hopefully goes viral, he’s a dedicated single parent doing his best to navigate work life balance. And in the rare moments when free time actually appears, he’s usually found with his two dogs, who are fully convinced they’re the ones in charge.