Alibaba was crowned China's most valuable internet company in 2018, as its value surpassed Tencent to reach 3.16 trillion yuan ($470.15 billion) last year, according to a list released by iiMedia Research.
The internet consultancy unveiled the top 100 Chinese internet companies based on market or assessed values, of which 80 percent have traded publicly.
The past year has seen many internet companies floated, including Xiaomi and Meituan Dianping. In iiMedia's analysis of this listing rush by internet companies, the consultancy found many do not yet have a mature business model. This may alleviate these companies' financial stress and help them grab a larger market share, but huge unknown risks also lurk farther down the road.
In addition, the number of companies involved in industries like e-commerce, internet service, training and education, and artificial intelligence was on a rise.
Now let's look at which internet companies entered the top 10 last year.
No 10 Meituan Dianping
Value: 250 billion yuan
Brochures on the Meituan Dianping IPO are seen at the Hong Kong Exchange on Sept 20, 2018. [Photo/VCG]
No 9 360 Security Technology Inc
Value: 255.4 billion yuan
People visit the 360 Security Technology Inc display at an expo in Beijing on June 29, 2018. [Photo/IC]
No 8 Xiaomi
Value: 306.9 billion yuan
Customers check out Xiaomi's products at one of its outlet stores in Shanghai. [Photo by Zhang Chenzhuo/For China Daily]
No 7 Didi Chuxing
Value: 320 billion yuan
The logo for mobile taxi-hailing and car service app Didi Chuxing is seen in Hangzhou city, East China's Zhejiang province, Sept 4, 2018. [Photo/IC]
No 6 JD
Value: 333.8 billion yuan
A man walks past the JD logo [Photo/IC]
No 5 Bytedance
Value: 400 billion yuan
Its new logo is seen at the headquarters of Beijing Bytedance Technology Co, owner of Chinese personalized news aggregator Jinri Toutiao and short video platform TikTok, in Beijing on Aug 6, 2018. [Photo/IC]
No 4 Baidu
Value: 524.2 billion yuan
People visit the Baidu exhibition display at the Light of the Internet Expo in Wuzhen, East China's Zhejiang province. [Photo provided to China Daily]
No 3 Ant Financial
Value: 800 billion yuan
A logo for Ant Financial, the financial arm of e-commerce giant Alibaba, is seen in Hangzhou, East China's Zhejiang province. [Photo/VCG]
No 2 Tencent Holdings Ltd
Value: 3.14 trillion yuan
Letters in China's internet giant Tencent's name ripple on the water surrounding this fountain. [Photo/IC]
