With the conclusion of the A-share market's 2025 annual report season, the performance of local listed companies has been disclosed. Annual report data shows that in 2025, 147 Hunan-listed companies collectively achieved operating revenue of 948.355 billion yuan, a year-on-year increase of 6.40%. Their combined net profit was approximately 48.405 billion yuan, marking a 15.21% year-on-year growth. The revenue of these Hunan-listed firms accounted for 17.15% of the province's GDP.
In terms of revenue, the top 10 companies generated a total of 465.797 billion yuan, representing 49.12% of the total revenue for Hunan-listed companies. The top four in revenue ranking were Valin Steel, LENS, Zoomlion, and Hunan Gold. Valin Steel led with 121.138 billion yuan, maintaining its position above the 100-billion-yuan threshold for the eighth consecutive year.
Valin Steel stated that the company continued to develop high-end and sophisticated products. Throughout the year, it launched 163 new products, achieved the first release of 19 high-precision products, and replaced imports for 8 steel grades. Its automotive sheet subsidiary added 24 new steel grade technical licenses, and its multi-component integrated solutions continued to lead the trend in automotive lightweighting. With the gradual commissioning of key projects such as the silicon steel production line and the extra-large diameter seamless steel pipe continuous rolling mill, the company's product structure is expected to further shift towards the special steel sector, enhancing profitability.
LENS primarily benefited from the steady development of its consumer electronics business and breakthroughs in multiple emerging sectors. The company stated that its smartphone and computer businesses, as the core sources of revenue and profit, leveraged its leading position in global consumer electronics glass covers to deepen partnerships with top-tier mobile phone and PC brand clients, continuously increasing its share in high-end models in 2025. Simultaneously, the company intensified its focus on high-growth sectors such as robotics, AI servers, and commercial aerospace. By 2025, LENS had established a complete system for the R&D and mass production of products including bipedal humanoid robots and quadruped robotic dogs. The robotics business revenue of its subsidiary, LENS Intelligent Robotics, exceeded 1 billion yuan.
Zoomlion's revenue growth stemmed from its emerging market strategy entering a harvest phase, with overseas income continuing to grow rapidly. The company reported that overseas revenue accounted for 58.56% of its total in 2025, with a gross margin of 30.78%. It has established over 30 primary business aviation hubs and more than 430 service outlets, with products covering over 170 countries and regions. Centered on the Zoomlion Smart Industrial City, the company has cumulatively built 18 smart factories and over 420 smart production lines globally, mastering more than 250 key technologies for quality improvement, cost reduction, and efficiency enhancement, maintaining leading process technology levels in its main product lines.
Hunan Gold recorded the highest revenue growth among Hunan-listed companies in 2025, with annual revenue reaching 50.181 billion yuan, an 80.26% year-on-year increase. The company attributed this to gold prices remaining high throughout the year, with gold sales revenue surging 86.74% year-on-year, propelling the company from the "20-billion-yuan tier" into the "50-billion-yuan club."
Regarding net profit, the 147 Hunan-listed companies collectively earned 48.405 billion yuan in 2025, a 15.21% year-on-year increase. The profit growth rate outpaced revenue growth, indicating a substantial recovery in the profitability of the A-share "Hunan Army."
Bank of Changsha maintained its position as the "profit king" with a net profit of 8.108 billion yuan, up 3.59% year-on-year. In 2025, the bank focused on the main themes of "stabilizing growth, supporting the real economy, preventing risks, and promoting transformation." It achieved steady growth in the scale of its assets and liabilities, simultaneous expansion in core deposit and loan businesses, and continued strengthening of its development foundation. Concurrently, the bank's net interest margin and non-performing loan ratio both outperformed industry averages, with progress in county-level, inclusive, green, and digital finance, and continuous improvement in ESG governance. Facing industry-wide challenges such as narrowing net interest margins and revenue pressure in 2025, Bank of Changsha achieved counter-trend profit growth through "cost control, structural optimization, and efficiency enhancement," demonstrating resilience in profitability.