China Unicorn Ranking

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:698.05
1Ant Financial150HangzhouFintechJun-2018
2Aliyun67HangzhouEnterprise servicesJul-2015
3Didi Chuxing57.6BeijingTransportation & Space2014Jul-2017
4ByteDance40BeijingMedia & Entertainment2016Sep-2017
5Lufax30ShanghaiFintech2014Jan-2016
6Ele.me Koubei25HangzhouMobile Internet2015Oct-2018
7Cainiao Network20HangzhouLogistics2016Sep-2017
8JD Finance20BeijingFintech2016Jul-20182021
9JD Logistics19BeijingLogistics2018Feb-20182018
10Kuaishou18BeijingMedia & Entertainment2015Apr-20182018
11DJI15ShenzhenAI & Robotics2015May-2015
12WeBank9.5ShenzhenFintech2016Jan-2016
13Jiedaibao8BeijingFintech2016Jan-2016
14Chehaoduo (Guazi)6.6BeijingE-commerce2016Mar-20182019
15Lianjia6BeijingReal Estate2016Nov-20172021
16We Doctor (Guahao.com)5.5HangzhouHealthcare2015May-2018
17Royole5ShenzhenSmart Hardware2016Aug-2018
18UBtech Robotics5ShenzhenAI & Robotics2016May-20182018
19United Imaging Healthcare5ShanghaiHealthcare2017Sep-2017
20WM Motor5ShanghaiTransportation & Space2016Dec-2017
21SenseTime4.5BeijingAI & Robotics2017May-2018
22Meizu4.4ZhuhaiSmart Hardware2014Oct-20162018
23Xiaopeng Motors3.7GuangzhouTransportation & Space2018Aug-2018
24Du Xiaoman3.5BeijingFintech2018Apr-2018
25Souche3.5HangzhouE-commerce2017Sep-2018
26Youxia Motors3.35ShanghaiTransportation & Space2018Aug-2018
27e-Shang Redwood3.25HongKongLogistics2017May-2018
28Maoyan-Weiying3.2BeijingMedia & Entertainment2015Nov-20172018
29Vipkid3.1BeijingEducation2017Jun-2018
30FXiaoKe3BeijingEnterprise Services2015Jan-2018
31LY.com3SuzhouTourism2015Jun-2018
32Ucommune3BeijingReal Estate2017Nov-2018
33Xiaohongshu3ShanghaiE-commerce2016Jun-2018
34Yiguo.com3ShanghaiConsumer Upgrade2016Aug-2017
35Yixia Technology3BeijingMedia & Entertainment2015Nov-20162018
36Ziroom3BeijingReal Estate2018Jan-2018
37Henlius2.9ShanghaiHealthcare2017Jul-2018
38UnionPay Merchant Services2.8ShanghaiFintech2015Oct-2016
39Hujiang2.6ShanghaiEducation2015Oct-2015
40Ofo2.6BeijingTransportation & Space2017Mar-2018
41Cambricon2.5BeijingAI & Robotics2017Jun-2018
42Zhihu2.5BeijingMedia & Entertainment2017Aug-2018
43Kingsoft Cloud2.4BeijingEnterprise Services2016Jan-2018
44Three Squirrels2.09WuhuE-commerceSep-20152019
45Cloudwalk2GuangzhouAI & Robotics2018Oct-2018
46Huimin.cn2BeijingE-commerce2016Sep-20162019
47Innovent Biologics2SuzhouHealthcare2017Apr-20182018
48Mafengwo2BeijingTourism2018Dec-2017
49Manbang Group (Huochebang-Yunmanman)2GuiyangLogistics2016Apr-2018
50Megvii Technology2BeijingAI & Robotics2016Jul-2018
51Meicai.cn2BeijingE-commerce2016Oct-2018
52Renrendai.com2BeijingFintech2016Jan-2014
53Taopiaopiao2HangzhouMedia & EntertainmentJul-2017
54Tubatu.com2ShenzhenReal Estate2015Mar-20152019
55Yitu Technology2ShanghaiAI & Robotics2016Jul-2018
56Yinlong Group1.95ZhuhaiClean Energy & Environment2017Dec-2016
57Sanpower Group1.93ShanghaiHealthcare
58Apus Group1.85BeijingMobile Internet2015Aug-2017
59Taihe Music Group1.7BeijingMedia & EntertainmentJun-2018
60AIWAYS1.6ShanghaiTransportation & Space2018Apr-2018
61Caocao Zhuanche1.6HangzhouTransportation & Space2018Jan-2018
62Aihuishou1.5ShanghaiE-commerce2018Jul-2018
63Douyu TV1.5WuhanGaming2017Mar-20182018
64Horizon Robotics1.5BeijingAI & Robotics2017Oct-2017
65Lakala 1.5BeijingFintech2015Jun-2015
66Ninebot1.5TianjinSmart Hardware2016Oct-2017
67Spring Rain Software1.5BeijingHealthcareJun-2016
68Tujia1.5BeijingReal Estate2015Oct-20172019
69UCloud1.5ShanghaiEnterprise Services2017Jun-2018
70ZBJ.com1.5ChongqingEnterprise Services2015Jun-20152018
71Hello Bike1.47ShanghaiTransportation & Space2018Jun-2018
72Suning Sports1.47NanjingSports2018Jul-2018
73Tuandaiwang1.46DongguanFintech2017May-2017
74Koudai Gouwu1.45BeijingE-commerce2014Oct-2014
75Weidai.com.cn1.38HangzhouFintech2016May-2016
76ETCP1.3BeijingTransportation & Space2017Oct-2016
77Kr Space1.3BeijingReal Estate2018Jun-2018
78Alisports1.27ShanghaiSportsApr-20182022
79Loji Logistics1.26BeijingLogistics2016May-2015
80Iwjw1.25ShanghaiReal Estate2015Nov-2015
81Bitmain1.2BeijingBlockchain2017Aug-20182019
82Byton1.2NanjingTransportation & Space2018Jun-2018
83EasyLife Financial Services1.2BeijingFintech2016Dec-2016
84Dada1.2ShanghaiLogistics2015Aug-2018
85NetEase Cloud Music1.16HangzhouMedia & Entertainment2017Apr-2017
86Luoji Siwei1.1BeijingMedia & Entertainment2017Sep-20172018
87NetEase Youdao1.1BeijingEducation2018Apr-2018
88Tiger Brokers1.06BeijingFintech2018Jul-2018
89Beibei1HangzhouE-commerce2015Jun-2016
90Dianrong1ShanghaiFintech2017Aug-20182018
91Dt Dream1HangzhouEnterprise Services2017Jun-2017
92DXY1HangzhouHealthcare2018Apr-2018
93Futu Securities1HongKongFintech2017Jun-2017
94Fangdd.com1ShenzhenReal Estate2015Sep-2015
95Fanli1ShanghaiE-commerce2015Apr-2015
96Huikedu Group1BeijingEducation2018May-2018
97iCarbonX1ShenzhenAI & Robotics2016Jul-2016
98iTutorGroup1Silicon ValleyEducation2015Nov-20152019
99Jiangsu Zimi Technology1WuxiSmart Hardware2016Feb-2015
100Jollychic1HangzhouE-commerce2018May-2018
101Lalamove1HongKongLogistics2017Oct-2017
102luckin coffee1BeijingConsumer Upgrade2018Jul-2018
103Mia.com1BeijingE-commerce2015Oct-2016
104MissFresh1BeijingE-commerce2017Sep-2018
105Mobvoi1BeijingAI & Robotics2017Apr-2017
106Mofang Apartment1ShanghaiReal Estate2016Apr-2016
107Momenta1BeijingAI & Robotics2018Oct-2018
108Novogene1BeijingHealthcare2017Nov-2016
109Orbbec1ShenzhenAI & Robotics2018May-2018
110Pony.ai1BeijingAI & Robotics2018Jul-2018
111QingCloud1BeijingEnterprise Services2017Jun-2017
112Smartmi1BeijingSmart Hardware2017Jul-2016
113Tongdun Technology1HangzhouAI & Robotics2017Oct-2017
114Unisound1BeijingAI & Robotics2014Jul-2018
115Wacai.com1HangzhouFintech2017Jul-2018
116Wifi Master Key 1ShanghaiMobile Internet2015Dec-2017
117Womai1BeijingE-commerce2015Oct-20152018
118Xiaozhu.com1BeijingReal Estate2017Oct-2018
119Yuanfudao1BeijingEducation2017May-2017
120Yidian Zixun1BeijingMedia & Entertainment2017Oct-2017
121Zhaogang.com1ShanghaiE-commerce2017Jul-20172018
122Zhuanzhuan1BeijingE-commerce2017Apr-2017
123Zuoyebang1BeijingEducation2017Jul-2018
12417Zuoye1ShanghaiEducation2017Mar-2018
12536Kr Media1BeijingMedia & Entertainment2017Dec-20172019
12658 Daojia1TianjinMobile Internet2015Oct-2015
1279fbank.com1BeijingFintech2014Oct-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
May-2018Ping An Healthcare Technology8.8ShanghaiHealthcare2018Feb-2018
Sep-2018Meituan-Dianping30BeijingConsumer Upgrade2015Oct-2017
Sep-2018NIO6.45ShanghaiTransportation & Space2017Nov-2017
Sep-2018Qutoutiao2.11.3ShanghaiMedia & Entertainment2018Mar-2018
Sep-2018BAIC BJEV4.5BeijingTransportation & Space2017Mar-2018
Sep-2018CooTekUS$775M1ShanghaiMobile Internet2017May-2017
Oct-2018Trendy International Group5GuangzhouConsumer Upgrade2011Jan-2012
Oct-2018Tencent Music23ShenzhenMedia & EntertainmentJan-2018
Oct-2018Meili United Group3HangzhouE-commerce2014Nov-2015
Nov-2018Babytree2.19BeijingE-commerce2015Jun-2018

Last Updated: Nov 07, 2018