Hong Kong Listed Companies Report Strong 2025 Results, AI Emerges As Key Growth Driver

As the annual reporting season progresses, a wave of positive results has emerged among Hong Kong‑listed companies. Preliminary review by Shanghai Securities indicates that between March 1 and March 16 nearly one hundred issuers, including MINIMAX‑WP, Yunji, Bilibili‑W, Blueko, and Junshi Biosciences, published their financial statements for the year ended December 31, 2025. The disclosures consistently identify AI adoption and robust new‑consumption dynamics as the principal drivers of revenue expansion.

AI Has Become A Principal Growth Engine. Across sectors from agent ecosystems and content platforms to industrial supply chains and healthcare, companies report accelerating benefits from AI integration. Bilibili‑W disclosed RMB 30.35 billion in revenue for 2025, a 13% year‑on‑year increase, while daily active users, monthly active users and average daily usage all reached record levels. The company attributed improved content discovery and advertising precision to the deployment of advanced large language models, and noted that AIGC tools and AI translation capabilities have lowered barriers for creators and advertisers while extending the reach of premium content to global audiences. Bilibili‑W indicated it will further leverage AI in 2026 to amplify core advantages and support sustainable growth.

Several JD‑affiliated Hong Kong listings also highlighted AI as a catalyst for performance. JD Industrial reported RMB 23.95 billion in revenue for 2025, up 17.4%, driven in part by the launch of JoyIndustrial, an industrial large model centered on supply‑chain digitization. JD Health achieved RMB 73.4 billion in revenue, a 26.3% increase, with four consecutive quarters of year‑on‑year growth above 20%; the company described its AI‑enabled, full‑scenario health services as a key enabler of high‑quality expansion. JD Logistics focused on strengthening core capabilities, accelerating overseas network deployment and deepening automation and AI applications, delivering RMB 217.1 billion in revenue, up 18.8%.

Mobvista Continued To Scale Its Advertising And Marketing Technology Business. The group reported USD 2.047 billion in revenue for 2025, a 35.7% increase, with its Mintegral platform cited as a major contributor to both revenue and profit. Since May 2023, Mintegral has rolled out four AI‑ and machine‑learning‑based smart bidding products designed to optimize campaign outcomes against advertisers’ key objectives and improve overall return on ad spend.

Large‑Model Providers Reaped Substantial Gains. MINIMAX‑WP, identified as one of Hong Kong’s leading large‑model companies, reported full‑year revenue of USD 79 million for 2025, representing a 158.9% increase after building competitive multimodal capabilities across language, video, speech and music. The company stated its strategic intent to evolve from a large‑model developer into a platform company for the AI era, continuing to advance technical and product innovation.

New‑Consumption Names Also Delivered Strong Results. Guoquan, a one‑stop home‑dining brand, recorded RMB 7.81 billion in revenue for 2025, up 20.7%, and net profit of RMB 454 million, an 88.2% increase. The company expanded its township footprint by adding 1,004 new stores during the year, bringing its township network to 3,010 outlets as of December 31, 2025. Blueko reported RMB 2.913 billion in revenue, a 30% rise, supported by higher sales of construction‑role toys and the introduction of 913 new SKUs; the company noted that its value product line, priced at RMB 9.9, generated RMB 541 million in revenue and sold 122 million units. Natural Beauty, operating in the beauty sector, achieved HKD 539 million in revenue for 2025, up 52.4%, driven primarily by an HKD 181 million increase in product sales that accounted for 98.6% of total turnover.

Lao Pu Gold Issued A Positive Profit Forecast. On March 11 the company projected 2025 revenue of RMB 27.0–28.0 billion, an increase of approximately 217%–229%, and net profit of about RMB 4.8–4.9 billion, up roughly 226%–233%. Lao Pu Gold attributed the strong performance to expanding brand influence, which supported substantial online and offline sales growth, and to continuous product optimization and iteration that sustained high revenue growth across channels.

Collectively, the 2025 reporting season underscores AI’s role as a transformative growth driver across a broad range of industries, while new‑consumption companies continue to exhibit resilient momentum. These trends reinforce Hong Kong’s position as a market where innovation and consumer‑led expansion are prominent contributors to corporate performance.