Fortune's 2026 China 500 list features 36 automotive firms with $940.2B combined revenue. New forces surged in rankings while Li Auto was the only startup to see a decline.
Industry Overview: Automotive Remains a Pillar
On July 21, Fortune magazine released the 2026 China 500 rankings. The 500 listed companies generated combined revenues of $14.26 trillion, up 0.3% year-over-year; total profits reached $7,949 billion, up approximately 5%; and the entry threshold dropped from $36.2 billion to $35.4 billion.
In the vehicle and components sector, 36 companies made the list (up from 34), with combined revenues of $940.21 billion, growing 2.95%; total profits hit $29.15 billion, surging 39.88% year-over-year; and loss-making companies decreased from 7 to 5. The automotive industry remains a cornerstone of the national economy.
| Metric | 2025 | 2026 | Change |
|---|---|---|---|
| Listed Firms | 34 | 36 | +2 |
| Total Revenue | $913.2B | $940.2B | +2.95% |
| Total Profit | $20.84B | $29.15B | +39.88% |
| Loss Makers | 7 | 5 | -2 |
Traditional Giants Hold Ground
BYD leads the vehicle and components sector with $111.85 billion in revenue, ranking 26th overall (up 1 position from last year). It is also the only company in the sector with revenue exceeding $100 billion. Its net profit of $4.538 billion ranks second in the industry (behind only CATL).
SAIC Motor ranks 36th, with net profit surging 507.1% to $1.406 billion, making it the automaker with the largest profit increase. Geely Holding ranks 39th, but its net profit dropped 207.4% to a loss of $897 million, the steepest decline among listed automakers.
Chery made its debut on the list as an independent listed entity, landing at 87th with $41.778 billion in revenue. Its ROE of 36.5% ranks first in the automotive sector.
New Forces Reshuffle Rankings
The startup segment showed clear divergence:
- Leapmotor leaped from 423rd to 272nd, up 151 positions — the largest jump
- XPENG climbed from 351st to 238th, up 113 positions
- NIO rose from 269th to 216th, up 53 positions
- Seres advanced from 169th to 156th, up 13 positions
- Li Auto dropped from 171st to 191st, down 20 positions — the only declining startup
Among battery makers, CATL ranks 66th (up 11), with net profits of $10.045 billion, making it the most profitable company in the entire automotive chain. CALB soared from 471st to 346th, up 125 positions — the biggest jump in the battery segment.
Xiaomi rose from 76th to 58th, propelled by its rapidly scaling automotive business.
Three key trends revealed by the rankings:
- NEV industry firms surged collectively, electrification shifting from expectation to reality
- Startups diverged sharply: Leapmotor, XPENG, and NIO climbed while Li Auto declined alone
- Battery makers demonstrated exceptional profitability, with CATL leading the entire auto chain in net profit
For buyers in Central Asia and Russia, these ranking shifts clearly reflect the accelerating evolution of China's new energy vehicle competitive landscape. EX1000.COM will continue tracking these developments.
