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:772.41
1Ant Financial150HangzhouFintechJun-2018
2Xiaomi Inc68BeijingSmart Hardware2011Apr-2015
3Didi Chuxing57.6BeijingTransportation & Space2014Dec-2017
4Aliyun39HangzhouEnterprise servicesJul-2015
5Meituan-Dianping30BeijingConsumer Upgrade2015Oct-2017
6Tencent Music23ShenzhenMedia & Entertainment
7Cainiao Network20HangzhouLogistics2016Sep-2017
8Contemporary Amperex Technology20NingdeClean Energy & Environment2016Aug-2017
9Toutiao20BeijingMedia & Entertainment2016Apr-2017
10Lufax18.5ShanghaiFintech2014Jan-2016
11Pinduoduo15ShanghaiE-commerce2016Apr-2018
12JD Logistics13.5BeijingLogistics2018Feb-20182018
13Jiedaibao10.7BeijingFintech2016Jan-2016
14DJI10ShenzhenSmart Hardware2015Sep-2015
15WeBank9.5ShenzhenFintech2016Jan-2016
16Ping An Healthcare Technology8.8ShanghaiHealthcare2018Feb-2018
17Koubei8HangzhouMobile Internet2015Jan-2017
18OneConnect8ShanghaiFintech2018Feb-2018
19JD Finance7.7BeijingFintech2016Mar-20182021
20Lianjia6BeijingReal Estate & Construction2016Nov-20172021
21We Doctor (Guahao.com)5.5HangzhouHealthcare2015May-2018
22Ping An Good Doctor5.4ShanghaiHealthcare2016Feb-2018
23NIO5ShanghaiTransportation & Space2017Nov-20172018
24Trendy International Group5GuangzhouConsumer Upgrade2011Feb-20122018
25UBtech Robotics5ShenzhenAI & Robotics2016May-20182018
26United Imaging Healthcare5ShanghaiHealthcare2017Sep-2017
27WM Motor5ShanghaiTransportation & Space2016Nov-2017
28BAIC BJEV4.5BeijingTransportation & Space2017Aug-2017
29SenseTime4.5BeijingAI & Robotics2017May-2018
30Meizu4.4ZhuhaiSmart Hardware2014Oct-20162018
31Jubaohui4ShenzhenFintech2016Nov-2016
32Shouqi Car Rental3.55BeijingTransportation & Space2016Dec-20162022
33Du Xiaoman3.5BeijingFintech2018Apr-2018
34e-Shang Redwood3.25HongKongLogistics2017Jul-2017
35Chehaoduo (Guazi)3.2BeijingE-commerce2016Mar-20182019
36Maoyan-Weiying3.2BeijingMedia & Entertainment2015Nov-20172018
37Henlius3.18ShanghaiHealthcare2017Dec-2017
38Ali Music 3ShanghaiMedia & EntertainmentSep-2016
39Jia.com3ShanghaiReal Estate & Construction2015Feb-2015
40Kuaishou3BeijingMedia & Entertainment2015Mar-20172018
41Meili United Group 3HangzhouE-commerce2014Nov-2015
42Royole3ShenzhenSmart Hardware2016Sep-2017
43LY.com3SuzhouTourism2015Aug-2016
44Xiaohongshu3ShanghaiE-commerce2016Jun-2018
45Yiguo.com3ShanghaiConsumer Upgrade2016Aug-2017
46Yixia Technology3BeijingMedia & Entertainment2015Nov-20162018
47Ziroom3BeijingReal Estate & Construction2018Jan-2018
48UnionPay Merchant Services2.8ShanghaiFintech2015Oct-2016
49Ofo2.6BeijingTransportation & Space2017Mar-2018
50Face++2.5BeijingAI & Robotics2016Nov-2017
51Kingsoft Cloud2.4BeijingEnterprise Services2016Jan-2018
52Babytree2.19BeijingE-commerce2015Jun-2018
53Three Squirrels2.09WuhuE-commerceSep-2015
54Huimin.cn2BeijingE-commerce2016Sep-20162019
55Manbang Group (Huochebang-Yunmanman)2GuiyangLogistics2016Nov-2017
56Meicai.cn2BeijingE-commerce2016Jun-2016
57Renrendai.com2BeijingFintech2016Jan-2014
58Taopiaopiao2HangzhouMedia & EntertainmentJul-2017
59Tubatu.com2ShenzhenReal Estate & Construction2015Mar-2015
60Youxinpai2BeijingE-commerce2016Jan-2017
61Yinlong Group1.95ZhuhaiClean Energy & Environment2017Dec-2016
62Youxia Motors1.94ShanghaiTransportation & Space2018Apr-2018
63Sanpower Group1.93ShanghaiHealthcare
64Apus Group1.85BeijingMobile Internet2015Aug-2017
65Taihe Music Group1.7BeijingMedia & Entertainment
66Ucommune1.7BeijingReal Estate & Construction2017Feb-2018
67AIWAYS1.6ShanghaiTransportation & Space2018Apr-2018
68Caocao Zhuanche1.6HangzhouTransportation & Space2018Jan-2018
69Xiaopeng Motors1.6GuangzhouTransportation & Space2018Jan-2018
7051Xinyongka1.6HangzhouFintech2016Jul-2017
71Spring Rain Software1.5BeijingHealthcare
72Douyu TV1.5WuhanGaming2017Nov-2017
73Lakala 1.5BeijingFintech2015Jun-2015
74Ninebot1.5TianjinAI & Robotics2016Oct-2017
75Souche1.5HangzhouE-commerce2017
76Tujia1.5BeijingReal Estate & Construction2015Oct-2017
77UCloud1.5ShanghaiEnterprise Services2017
78Vipkid1.5BeijingEducation2017Aug-2017
79ZBJ.com1.5ChongqingEnterprise Services2015Jun-20172018
80Hello Bike1.47ShanghaiTransportation & Space2018Jun-2018
81Tuandaiwang1.46DongguanFintech2017May-2017
82Koudai Gouwu1.45BeijingE-commerce2014Oct-2014
83Weidai.com.cn1.38HangzhouFintech2016May-2016
84ETCP1.3BeijingTransportation & Space2017Oct-2016
85Qutoutiao1.3ShanghaiMedia & Entertainment2018Mar-2018
86Alisports1.27ShanghaiSportsApr-20182022
87Loji Logistics1.26BeijingLogistics2016May-2015
88Iwjw1.25ShanghaiReal Estate & Construction2015Nov-2015
89Bitmain1.2BeijingBlockchain2017Jun-2018
90Byton1.2NanjingTransportation & Space2018Aug-2017
91EasyLife Financial Services1.2BeijingFintech2016Dec-2016
92Dada1.2ShanghaiLogistics2015Oct-2016
93NetEase Cloud Music1.16HangzhouMedia & Entertainment2017Apr-2017
94Luoji Siwei1.1BeijingMedia & Entertainment2017Sep-20172018
95NetEase Youdao1.1BeijingEducation2018Apr-2018
96Hujiang1.08ShanghaiEducation2015Oct-2015
97Beibei1HangzhouE-commerce2015Jun-2016
98Cambricon1BeijingSmart Hardware2017Aug-2017
99Chubao Technology1ShanghaiMobile Internet2017May-2017
100Dianrong1ShanghaiFintech2017Jan-2018
101Dt Dream1HangzhouEnterprise Services2017Jun-2017
102DXY1HangzhouHealthcare2018Apr-2018
103Futu Securities1HongKongFintech2017Jun-2017
104FXiaoKe1BeijingEnterprise Services2015Jan-2018
105Fangdd.com1ShenzhenReal Estate & Construction2015Sep-2015
106Fanli1ShanghaiE-commerce2015Apr-2015
107Huikedu Group1BeijingEducation2018May-2018
108iCarbonX1ShenzhenHealthcare2016Apr-2016
109Inke1BeijingMedia & Entertainment2017Sep-2017
110Innovent Biologics1SuzhouHealthcare2017Nov-2016
111iTutorGroup1Silicon ValleyEducation2015Nov-2015
112Jiangsu Zimi Technology1WuxiSmart Hardware2016Feb-2015
113Jollychic1HangzhouE-commerce2018May-2018
114Lalamove1HongKongLogistics2017Oct-2017
115Lamabang1ShenzhenE-commerce2015Feb-20172019
116Liepin1BeijingEnterprise Services2016Jun-2016
117luckin coffee1BeijingConsumer Upgrade2018Jun-2018
118Mia.com1BeijingE-commerce2015Oct-2016
119MissFresh1BeijingE-commerce2017Dec-2017
120Mobvoi1BeijingAI & Robotics2017Apr-2017
121Mofang Apartment1ShanghaiReal Estate & Construction2016Apr-2016
122Novogene1BeijingHealthcare2017Nov-2016
123QingCloud1BeijingEnterprise Services2017Jun-2017
124Smartmi1BeijingSmart Hardware2017May-2015
125Tongdun Technology1HangzhouEnterprise Services2017Oct-2017
126Unisound1BeijingAI & Robotics2014Aug-2017
127Wifi Master Key 1ShanghaiMobile Internet2015Dec-2016
128Womai1BeijingE-commerce2015Oct-20152018
129Xiaozhu.com1BeijingReal Estate & Construction2017Nov-2017
130YH Global1ShenzhenLogistics2017Sep-2017
131Yuanfudao1BeijingEducation2017May-2017
132Yitu Technology1ShanghaiAI & Robotics2016Nov-2017
133Yidian Zixun1BeijingMedia & Entertainment2017Oct-2017
134Yunmanman1NanjingLogistics2016Nov-2017
135Zhaogang.com1ShanghaiE-commerce2017Jul-20172018
136Zhihu1BeijingMedia & Entertainment2017Jan-2017
137Zhuanzhuan1BeijingE-commerce2017Apr-2017
138Zuoyebang1BeijingEducation2017Aug-2017
13917Zuoye1ShanghaiEducation2017Mar-2018
14036Kr Media1BeijingMedia & Entertainment2017Dec-2017
14158 Daojia1TianjinMobile Internet2015Oct-2015
1429fbank.com1BeijingFintech2014Nov-2017

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 Insurance118ShanghaiFinancial Services2015Jun-2015
Sep-2017Mango TV1.42ChangshaMedia & EntertainmentJun-2016
Sep-2017Best Logistics4.33HangzhouAuto & TransportationSep-2016
Oct-2017Qudian7.91.21BeijingFinancial Services2015Oct-2016
Nov-2017China Literature6.42ShanghaiMedia & EntertainmentSep-2017
Nov-2017Sougou5BeijingInternet & IT2014Sep-2017
Nov-2017PPdai.com2ShanghaiFinancial ServicesMar-2017
Nov-2017Rong360US$808MBeijingFinancial Services2015Oct-2015
Dec-2017Fenqile2.9ShenzhenFinancial Services2015Jun-2016
Mar-2018iQiyi4.5BeijingMedia & Entertainment2016Feb-2017

Last Updated: June 04, 2018