China's large internet companies posted total profits of 123.7 billion yuan for the first 10 months of 2025, down 10.9% year-on-year, according to the data from China's Ministry of Industry and Information Technology. 

During the same period, China’s internet and related service companies generated 1.6189 trillion yuan in internet business revenue, an increase of 1.1% year-on-year, with the growth rate 1.7 percentage points lower than in the first nine months.

From January to October, internet companies in China invested 86.17 billion yuan in research and development, a year-on-year increase of 7.1%, with the growth rate 0.5 percentage points higher than in the first three quarters.