China Money Network’s China Unicorn Ranking is the most comprehensive and updated list of all private tech companies valued at US$1 billion or more in China. China, with its incredible rise of private capital and the nation’s determination to lead in technology innovation, boasts the largest unicorn herd in the world — even bigger and higher valued than the group in the U.S.

You can click here to read our original story on China’s unicorn ranking, published in May 2017. Come back frequently to check new additions or "Fallen Unicorns" at the bottom of the page, where we list those companies that saw their valuation drop below the US$1 billion mark. Contact us if you wish to let us know of any hidden unicorns or errors.

China Unicorn Ranking


RankingCompanyValuation (US$B)HeadquartersIndustryYear JoinedLast Financing RoundIPO Timetable
TOTAL VALUATION:712.84
1Ant Financial150HangzhouFintechJun-2018
2Aliyun67HangzhouEnterprise servicesJul-2015
3Didi Chuxing57.6BeijingTransportation & Space2014Jul-2017
4Meituan-Dianping30BeijingConsumer Upgrade2015Oct-2017
5Tencent Music23ShenzhenMedia & EntertainmentJan-2018
6Cainiao Network20HangzhouLogistics2016Sep-2017
7JD Finance20BeijingFintech2016Jul-20182021
8Toutiao20BeijingMedia & Entertainment2016Sep-2017
9Lufax18.5ShanghaiFintech2014Jan-2016
10DJI15ShenzhenSmart Hardware2015May-2015
11JD Logistics13.5BeijingLogistics2018Feb-20182018
12Jiedaibao10.7BeijingFintech2016Jan-2016
13WeBank9.5ShenzhenFintech2016Jan-2016
14Ping An Healthcare Technology8.8ShanghaiHealthcare2018Feb-2018
15Koubei8HangzhouMobile Internet2015Jan-2017
16OneConnect8ShanghaiFintech2018Jan-2018
17Lianjia6BeijingReal Estate2016Nov-20172021
18We Doctor (Guahao.com)5.5HangzhouHealthcare2015May-2018
19NIO5ShanghaiTransportation & Space2017Nov-20172018
20Trendy International Group5GuangzhouConsumer Upgrade2011Jan-20122018
21UBtech Robotics5ShenzhenAI & Robotics2016May-20182018
22United Imaging Healthcare5ShanghaiHealthcare2017Sep-2017
23WM Motor5ShanghaiTransportation & Space2016Dec-2017
24BAIC BJEV4.5BeijingTransportation & Space2017Mar-2018
25SenseTime4.5BeijingAI & Robotics2017May-2018
26Meizu4.4ZhuhaiSmart Hardware2014Oct-20162018
27Jubaohui4ShenzhenFintech2016Nov-2016
28Xiaopeng Motors3.7GuangzhouTransportation & Space2018Aug-2018
29Shouqi Car Rental3.55BeijingTransportation & Space2016Dec-20162022
30Du Xiaoman3.5BeijingFintech2018Apr-2018
31e-Shang Redwood3.25HongKongLogistics2017May-2018
32Chehaoduo (Guazi)3.2BeijingE-commerce2016Mar-20182019
33Maoyan-Weiying3.2BeijingMedia & Entertainment2015Nov-20172018
34Henlius3.18ShanghaiHealthcare2017Jul-2018
35Vipkid3.1BeijingEducation2017Jun-2018
36Ali Music 3ShanghaiMedia & EntertainmentSep-2016
37Kuaishou3BeijingMedia & Entertainment2015Apr-20182018
38Meili United Group 3HangzhouE-commerce2014Nov-2015
39Royole3ShenzhenSmart Hardware2016Aug-2018
40LY.com3SuzhouTourism2015Jun-2018
41Xiaohongshu3ShanghaiE-commerce2016Jun-2018
42Yiguo.com3ShanghaiConsumer Upgrade2016Aug-2017
43Yixia Technology3BeijingMedia & Entertainment2015Nov-20162018
44Ziroom3BeijingReal Estate2018Jan-2018
45UnionPay Merchant Services2.8ShanghaiFintech2015Oct-2016
46Ofo2.6BeijingTransportation & Space2017Mar-2018
47Cambricon2.5BeijingSmart Hardware2017Jun-2018
48Face++2.5BeijingAI & Robotics2016Jul-2018
49Zhihu2.5BeijingMedia & Entertainment2017Aug-2018
50Kingsoft Cloud2.4BeijingEnterprise Services2016Jan-2018
51Babytree2.19BeijingE-commerce2015Jun-2018
52Three Squirrels2.09WuhuE-commerceSep-2015
53Huimin.cn2BeijingE-commerce2016Sep-20162019
54Manbang Group (Huochebang-Yunmanman)2GuiyangLogistics2016Apr-2018
55Meicai.cn2BeijingE-commerce2016Jan-2018
56Renrendai.com2BeijingFintech2016Jan-2014
57Taopiaopiao2HangzhouMedia & EntertainmentJul-2017
58Tubatu.com2ShenzhenReal Estate2015Mar-2015
59Yinlong Group1.95ZhuhaiClean Energy & Environment2017Dec-2016
60Youxia Motors1.94ShanghaiTransportation & Space2018Mar-2018
61Sanpower Group1.93ShanghaiHealthcare
62Apus Group1.85BeijingMobile Internet2015Aug-2017
63Ucommune1.8BeijingReal Estate2017Aug-2018
64Taihe Music Group1.7BeijingMedia & EntertainmentJun-2018
65AIWAYS1.6ShanghaiTransportation & Space2018Apr-2018
66Caocao Zhuanche1.6HangzhouTransportation & Space2018Jan-2018
67Aihuishou1.5ShanghaiE-commerce2018Jul-2018
68Spring Rain Software1.5BeijingHealthcareJun-2016
69Douyu TV1.5WuhanGaming2017Mar-2018
70Lakala 1.5BeijingFintech2015Jun-2015
71Ninebot1.5TianjinAI & Robotics2016Oct-2017
72Souche1.5HangzhouE-commerce2017Nov-2017
73Tujia1.5BeijingReal Estate2015Oct-2017
74UCloud1.5ShanghaiEnterprise Services2017Jun-2018
75ZBJ.com1.5ChongqingEnterprise Services2015Jun-20152018
76Hello Bike1.47ShanghaiTransportation & Space2018Jun-2018
77Suning Sports1.47NanjingSports2018Jul-2018
78Tuandaiwang1.46DongguanFintech2017May-2017
79Koudai Gouwu1.45BeijingE-commerce2014Oct-2014
80Weidai.com.cn1.38HangzhouFintech2016May-2016
81ETCP1.3BeijingTransportation & Space2017Oct-2016
82Kr Space1.3BeijingReal Estate2018Jun-2018
83Qutoutiao1.3ShanghaiMedia & Entertainment2018Mar-2018
84Alisports1.27ShanghaiSportsApr-20182022
85Loji Logistics1.26BeijingLogistics2016May-2015
86Iwjw1.25ShanghaiReal Estate2015Nov-2015
87Bitmain1.2BeijingBlockchain2017Aug-2018
88Byton1.2NanjingTransportation & Space2018Jun-2018
89EasyLife Financial Services1.2BeijingFintech2016Dec-2016
90Dada1.2ShanghaiLogistics2015Aug-2018
91NetEase Cloud Music1.16HangzhouMedia & Entertainment2017Apr-2017
92Luoji Siwei1.1BeijingMedia & Entertainment2017Sep-20172018
93NetEase Youdao1.1BeijingEducation2018Apr-2018
94Hujiang1.08ShanghaiEducation2015Oct-2015
95Tiger Brokers1.06BeijingFintech2018Jul-2018
96Beibei1HangzhouE-commerce2015Jun-2016
97Chubao Technology1ShanghaiMobile Internet2017May-2017
98Dianrong1ShanghaiFintech2017Aug-2018
99Dt Dream1HangzhouEnterprise Services2017Jun-2017
100DXY1HangzhouHealthcare2018Apr-2018
101Futu Securities1HongKongFintech2017Jun-2017
102FXiaoKe1BeijingEnterprise Services2015Jan-2018
103Fangdd.com1ShenzhenReal Estate2015Sep-2015
104Fanli1ShanghaiE-commerce2015Apr-2015
105Huikedu Group1BeijingEducation2018May-2018
106iCarbonX1ShenzhenHealthcare2016Jul-2016
107Innovent Biologics1SuzhouHealthcare2017Apr-2018
108iTutorGroup1Silicon ValleyEducation2015Aug-2016
109Jiangsu Zimi Technology1WuxiSmart Hardware2016Feb-2015
110Jollychic1HangzhouE-commerce2018May-2018
111Lalamove1HongKongLogistics2017Oct-2017
112Lamabang1ShenzhenE-commerce2015Feb-20172019
113luckin coffee1BeijingConsumer Upgrade2018Jul-2018
114Mia.com1BeijingE-commerce2015Oct-2016
115MissFresh1BeijingE-commerce2017Dec-2017
116Mobvoi1BeijingAI & Robotics2017Oct-2015
117Mofang Apartment1ShanghaiReal Estate2016Apr-2016
118Novogene1BeijingHealthcare2017Nov-2016
119QingCloud1BeijingEnterprise Services2017Jun-2017
120Smartmi1BeijingSmart Hardware2017May-2015
121Tongdun Technology1HangzhouEnterprise Services2017Oct-2017
122Unisound1BeijingAI & Robotics2014Jul-2018
123Wacai.com1HangzhouFintech2017Jul-2018
124Wifi Master Key 1ShanghaiMobile Internet2015Dec-2017
125Womai1BeijingE-commerce2015Oct-20152018
126Xiaozhu.com1BeijingReal Estate2017Nov-2017
127YH Global1ShenzhenLogistics2017Sep-2017
128Yuanfudao1BeijingEducation2017May-2017
129Yitu Technology1ShanghaiAI & Robotics2016Jul-2018
130Yidian Zixun1BeijingMedia & Entertainment2017Oct-2017
131Zhaogang.com1ShanghaiE-commerce2017Jul-20172018
132Zhuanzhuan1BeijingE-commerce2017Apr-2017
133Zuoyebang1BeijingEducation2017Jul-2018
13417Zuoye1ShanghaiEducation2017Mar-2018
13536Kr Media1BeijingMedia & Entertainment2017Dec-2017
13658 Daojia1TianjinMobile Internet2015Oct-2015
1379fbank.com1BeijingFintech2014Mar-2018

And what about the Fallen Unicorns? These are companies who once soared high as unicorns, but either through mergers or diminished investment rounds, these companies have dropped off the Unicorn list and now land on the Fallen Unicorns list below:

 

Fallen Unicorns


Time of FallCompanyValuation (US$M)Previous Valuation (US$B)HeadquartersIndustryYear Minted as UnicornLast Financing Round
Aug-2017Baidu Waimai6002.5BeijingAgriculture & FoodMar-2016
Aug-2017Le Sports1.5BeijingMedia & EntertainmentMay-2017
Aug-2017ZhangYue1BeijingMedia & Entertainment2016Jan-2016
Feb-2018Huami Technology6901HefeiIndustrial & Manufacturing2016Dec-2014

For Unicorns that have completed initial public offerings, we note their details below:

 

Unicorns Gone Public


Time of IPOCompanyIPO Valuation (US$B)Previous Valuation (US$B)HeadquartersIndustryYear Unicorn MintedLast Financing Round
Sep-2017ZhongAn Insurance118ShanghaiFintech2015Jun-2015
Sep-2017Mango TV1.42ChangshaMedia & EntertainmentJun-2016
Sep-2017Best Logistics4.33HangzhouAuto & TransportationSep-2016
Oct-2017Qudian7.91.21BeijingFintech2015Oct-2016
Nov-2017China Literature6.42ShanghaiMedia & EntertainmentSep-2017
Nov-2017Sougou5BeijingInternet & IT2014Sep-2017
Nov-2017PPdai.com2ShanghaiFintechMar-2017
Nov-2017Rong360US$808MBeijingFintech2015Oct-2015
Dec-2017Fenqile2.9ShenzhenFintech2015Jun-2016
Mar-2018iQiyi4.5BeijingMedia & Entertainment2016Feb-2017
Jun-2018Xiaomi68BeijingSmart Hardware2011Apr-2015
Jun-2018Liepin1BeijingEnterprise Services2016Jun-2016
Jul-2018Jia.com3ShanghaiReal Estate2015Feb-2015
Jul-2018Inke.com1.11BeijingMedia & Entertainment2017Sep-2017
Jul-201851Xinyongka1.31.6HangzhouFintech2016Jul-2017

Last Updated: June 29, 2018