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Anta now boasts more than 60 patents. Investment in innovation has gone up to 5.8 percent of total revenue this year. Anta started its business by quickly developing stores on shopping streets across China, especially in third－and four-tier cities.

Another batch of 24 million from the mainland will come soon, Cheung said.

Anyone seeking to decode the secrets behind the rise of the two stellar companies could do worse than just look around any Beijing subway carriage. Almost every passenger, young or old, white collar or construction worker, is very likely to have their eyes fixed on a smartphone screen.

Another 86 companies are expected to post a rise in their net profits in 2017, but their annual reports are yet to be released.

Another newcomer, Lil Nas X, took home the song of the year award for Old Town Road, his country rap collaboration with Billy Ray Cyrus that ruled for a record 19 consecutive weeks at the top of the Billboard singles chart.