The study looked at how intellectual capital (IC) affects the performance of manufacturing companies in China. They found that IC, including human, structural, and relational capitals, can improve a company's earnings, profitability, and productivity. Physical capital is the most important factor for firm performance. State-owned companies benefit more from IC than private ones, high-tech companies perform better than non-high-tech ones, and companies in eastern China outperform those in central and western regions. This research can help managers and policymakers in developing countries manage their IC resources effectively.