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:696.54
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
11DJI16ShenzhenSmart Hardware2015May-2015
12WeBank9.5ShenzhenFintech2016Jan-2016
13Jiedaibao8BeijingFintech2016Jan-2016
14Chehaoduo (Guazi)6.6BeijingE-commerce2016Mar-20182019
15Lianjia6BeijingReal Estate2016Nov-20172021
16SenseTime6BeijingAI & Robotics2017May-2018
17We Doctor (Guahao.com)5.5HangzhouHealthcare2015May-2018
18Royole5ShenzhenSmart Hardware2016Aug-2018
19UBtech Robotics5ShenzhenAI & Robotics2016May-20182018
20United Imaging Healthcare5ShanghaiHealthcare2017Sep-2017
21WM Motor5ShanghaiTransportation & Space2016Dec-2017
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
32Xiaohongshu3ShanghaiE-commerce2016Jun-2018
33Yiguo.com3ShanghaiConsumer Upgrade2016Aug-2017
34Yixia Technology3BeijingMedia & Entertainment2015Nov-20162018
35Ziroom3BeijingReal Estate2018Jan-2018
36Henlius2.9ShanghaiHealthcare2017Jul-2018
37UnionPay Merchant Services2.8ShanghaiFintech2015Oct-2016
38Hujiang2.6ShanghaiEducation2015Oct-2015
39Ofo2.6BeijingTransportation & Space2017Mar-2018
40Cambricon2.5BeijingSmart Hardware2017Jun-2018
41Face++2.5BeijingAI & Robotics2016Jul-2018
42Zhihu2.5BeijingMedia & Entertainment2017Aug-2018
43Kingsoft Cloud2.4BeijingEnterprise Services2016Jan-2018
44Babytree2.19BeijingE-commerce2015Jun-2018
45Three Squirrels2.09WuhuE-commerceSep-20152019
46Huimin.cn2BeijingE-commerce2016Sep-20162019
47Innovent Biologics2SuzhouHealthcare2017Apr-20182018
48Manbang Group (Huochebang-Yunmanman)2GuiyangLogistics2016Apr-2018
49Meicai.cn2BeijingE-commerce2016Oct-2018
50Renrendai.com2BeijingFintech2016Jan-2014
51Taopiaopiao2HangzhouMedia & EntertainmentJul-2017
52Tubatu.com2ShenzhenReal Estate2015Mar-20152019
53Yitu Technology2ShanghaiAI & Robotics2016Jul-2018
54Yinlong Group1.95ZhuhaiClean Energy & Environment2017Dec-2016
55Sanpower Group1.93ShanghaiHealthcare
56Apus Group1.85BeijingMobile Internet2015Aug-2017
57Ucommune1.8BeijingReal Estate2017Aug-2018
58Taihe Music Group1.7BeijingMedia & EntertainmentJun-2018
59AIWAYS1.6ShanghaiTransportation & Space2018Apr-2018
60Caocao Zhuanche1.6HangzhouTransportation & Space2018Jan-2018
61Aihuishou1.5ShanghaiE-commerce2018Jul-2018
62Spring Rain Software1.5BeijingHealthcareJun-2016
63Douyu TV1.5WuhanGaming2017Mar-20182018
64Lakala 1.5BeijingFintech2015Jun-2015
65Ninebot1.5TianjinAI & Robotics2016Oct-2017
66Tujia1.5BeijingReal Estate2015Oct-20172019
67UCloud1.5ShanghaiEnterprise Services2017Jun-2018
68ZBJ.com1.5ChongqingEnterprise Services2015Jun-20152018
69Hello Bike1.47ShanghaiTransportation & Space2018Jun-2018
70Suning Sports1.47NanjingSports2018Jul-2018
71Tuandaiwang1.46DongguanFintech2017May-2017
72Koudai Gouwu1.45BeijingE-commerce2014Oct-2014
73Weidai.com.cn1.38HangzhouFintech2016May-2016
74ETCP1.3BeijingTransportation & Space2017Oct-2016
75Kr Space1.3BeijingReal Estate2018Jun-2018
76Alisports1.27ShanghaiSportsApr-20182022
77Loji Logistics1.26BeijingLogistics2016May-2015
78Iwjw1.25ShanghaiReal Estate2015Nov-2015
79Bitmain1.2BeijingBlockchain2017Aug-20182019
80Byton1.2NanjingTransportation & Space2018Jun-2018
81EasyLife Financial Services1.2BeijingFintech2016Dec-2016
82Dada1.2ShanghaiLogistics2015Aug-2018
83NetEase Cloud Music1.16HangzhouMedia & Entertainment2017Apr-2017
84Luoji Siwei1.1BeijingMedia & Entertainment2017Sep-20172018
85NetEase Youdao1.1BeijingEducation2018Apr-2018
86Tiger Brokers1.06BeijingFintech2018Jul-2018
87Beibei1HangzhouE-commerce2015Jun-2016
88Dianrong1ShanghaiFintech2017Aug-20182018
89Dt Dream1HangzhouEnterprise Services2017Jun-2017
90DXY1HangzhouHealthcare2018Apr-2018
91Futu Securities1HongKongFintech2017Jun-2017
92Fangdd.com1ShenzhenReal Estate2015Sep-2015
93Fanli1ShanghaiE-commerce2015Apr-2015
94Huikedu Group1BeijingEducation2018May-2018
95iCarbonX1ShenzhenHealthcare2016Jul-2016
96iTutorGroup1Silicon ValleyEducation2015Nov-20152019
97Jiangsu Zimi Technology1WuxiSmart Hardware2016Feb-2015
98Jollychic1HangzhouE-commerce2018May-2018
99Lalamove1HongKongLogistics2017Oct-2017
100Lamabang1ShenzhenE-commerce2015Feb-2017
101luckin coffee1BeijingConsumer Upgrade2018Jul-2018
102Mia.com1BeijingE-commerce2015Oct-2016
103MissFresh1BeijingE-commerce2017Sep-2018
104Mobvoi1BeijingAI & Robotics2017Apr-2017
105Mofang Apartment1ShanghaiReal Estate2016Apr-2016
106Momenta1BeijingAI & Robotics2018Oct-2018
107Novogene1BeijingHealthcare2017Nov-2016
108QingCloud1BeijingEnterprise Services2017Jun-2017
109Smartmi1BeijingSmart Hardware2017Jul-2016
110Tongdun Technology1HangzhouEnterprise Services2017Oct-2017
111Unisound1BeijingAI & Robotics2014Jul-2018
112Wacai.com1HangzhouFintech2017Jul-2018
113Wifi Master Key 1ShanghaiMobile Internet2015Dec-2017
114Womai1BeijingE-commerce2015Oct-20152018
115Xiaozhu.com1BeijingReal Estate2017Oct-2018
116YH Global1ShenzhenLogistics2017Sep-2017
117Yuanfudao1BeijingEducation2017May-2017
118Yidian Zixun1BeijingMedia & Entertainment2017Oct-2017
119Zhaogang.com1ShanghaiE-commerce2017Jul-20172018
120Zhuanzhuan1BeijingE-commerce2017Apr-2017
121Zuoyebang1BeijingEducation2017Jul-2018
12217Zuoye1ShanghaiEducation2017Mar-2018
12336Kr Media1BeijingMedia & Entertainment2017Dec-20172019
12458 Daojia1TianjinMobile Internet2015Oct-2015
1259fbank.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

Last Updated: Oct 19, 2018