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:466.66
1Ant Financial70HangzhouFinancial ServicesApr-2016
2Didi Chuxing56BeijingAuto & Transportation2014Dec-2017
3Xiaomi Inc46BeijingIndustrial & Manufacturing2011Apr-2015
4Meituan-Dianping30BeijingRetail & Consumer2015Oct-2017
5Toutiao20BeijingMedia & Entertainment2016Apr-2017
6Lufax18.5ShanghaiFinancial Services2014Jan-20162017
7DJI10ShenzhenIndustrial & Manufacturing2015Sep-2015
8Tencent Music10ShenzhenMedia & Entertainment
9Koubei8HangzhouRetail & Consumer2015Jan-2017
10Cainiao Network7.3HangzhouAuto & Transportation2016Sep-2017
11Jiedaibao7.3BeijingFinancial Services2016Jan-2016
12JD Finance7.3BeijingFinancial Services2016Jan-20162021
13Ele.me6ShanghaiAgriculture & Food2015Jun-20172018
14Lianjia6BeijingReal Estate & Construction2016Nov-20172021
15WeBank5.5ShenzhenFinancial Services2016Jan-2016
16NIO5ShanghaiAuto & Transportation2017Nov-20172017
17Trendy International Group5GuangzhouRetail & Consumer2011Feb-20122017
18United Imaging Healthcare5ShanghaiPharmaceutical & Healthcare2017Sep-2017
19BAIC BJEV4.5BeijingAuto & Transportation2017Aug-2017
20iQiyi4.5BeijingMedia & Entertainment2016Feb-20172017
21Meizu4.4ZhuhaiIndustrial & Manufacturing2014Oct-20162018
22UBtech Robotics4ShenzhenInternet & IT2016Nov-20172018
23Shouqi Car Rental3.55BeijingAuto & Transportation2016Dec-20162022
24e-Shang Redwood3.25HongKongAuto & Transportation2017Jul-2017
25Ali Music 3ShanghaiMedia & EntertainmentSep-2016
26Jia.com3ShanghaiReal Estate & Construction2015Feb-20152017
27Kuaishou3BeijingMedia & Entertainment2015Mar-20172017
28Meili United Group 3HangzhouRetail & Consumer2014Nov-2015
29Ping An Haoyisheng3ShanghaiPharmaceutical & Healthcare2016May-2016
30Royole3ShenzhenIndustrial & Manufacturing2016Sep-2017
31LY.com3SuzhouHospitality & Leisure2015Aug-2016
32Yixia Technology3BeijingMedia & Entertainment2015Nov-20162017
33Ziroom3BeijingReal Estate & Construction2018Jan-2018
34UnionPay Merchant Services2.8ShanghaiFinancial Services2015Oct-2016
35Kingsoft Cloud2.4BeijingInternet & IT2016Jan-2018
36Three Squirrels2.09WuhuAgriculture & FoodSep-20152017
37Taopiaopiao2HangzhouMedia & EntertainmentJul-2017
38Face++2BeijingInternet & IT2016Nov-2017
39Huimin.cn2BeijingRetail & Consumer2016Sep-20162019
40Meicai.cn2BeijingAgriculture & Food2016Jun-2016
41Ofo2BeijingAuto & Transportation2017Jul-2017
42SenseTime2BeijingInternet & IT2017Dec-2017
43Tubatu.com2ShenzhenReal Estate & Construction2015Mar-2015
44Maoyan-Weiying2BeijingMedia & Entertainment2015Nov-20172018
45Youxinpai2BeijingAuto & Transportation2016Jan-20172017
46Yinlong Group1.93ZhuhaiClean Energy & Environment2017Dec-2016
47Taihe Music Group1.7BeijingMedia & Entertainment
48Xiaopeng Motors1.6GuangzhouAuto & Transportation2018Jan-2018
49Caocao Zhuanche1.6HangzhouAuto & Transportation2018Jan-2018
50Apus Group1.5BeijingInternet & IT2015Aug-2017
51Douyu TV1.5WuhanMedia & Entertainment2017Nov-2017
52Lakala 1.5BeijingFinancial Services2015Jun-20152017
53Mobike1.5BeijingAuto & Transportation2017Nov-2017
54Guahao.com1.5HangzhouPharmaceutical & Healthcare2015Jan-2016
55Tujia1.5BeijingReal Estate & Construction2015Oct-2017
56ZBJ.com1.5ChongqingInternet & IT2015Jun-20172017
57Tuandaiwang1.46DongguanFinancial Services2017May-2017
58Koudai Gouwu1.45BeijingRetail & Consumer2014Oct-2014
59Weidai.com.cn1.38HangzhouFinancial Services2016May-2016
60UrWork1.3BeijingReal Estate & Construction2017Dec-2017
61Loji Logistics1.26BeijingAuto & Transportation2016May-2015
62Iwjw1.25ShanghaiReal Estate & Construction2015Nov-2015
63NewDada1.2ShanghaiAuto & Transportation2015Oct-2016
64Ninebot1.2TianjinIndustrial & Manufacturing2016Oct-20172017
65Yiguo.com1.2ShanghaiAgriculture & Food2016Aug-2017
66NetEase Cloud Music1.16HangzhouMedia & Entertainment2017Apr-2017
67Hujiang1.08ShanghaiEducation2015Oct-2015
68Alisports1ShanghaiMedia & EntertainmentApr-20172022
69Beibei1HangzhouRetail & Consumer2015Jun-2016
70Cambricon1BeijingIndustrial & Manufacturing2017Aug-2017
71Cheyipai1BeijingAuto & Transportation2015Sep-2016
72Dt Dream1HangzhouInternet & IT2017Jun-2017
73Futu Securities1HongKongFinancial Services2017Jun-2017
74FXiaoKe1BeijingInternet & IT2015Jan-2018
75Fangdd.com1ShenzhenReal Estate & Construction2015Sep-2015
76Fanli1ShanghaiRetail & Consumer2015Apr-2015
77Chehaoduo (Guazi)1BeijingAuto & Transportation2016Oct-20172019
78Huochebang1GuiyangAuto & Transportation2016Nov-2017
79iCarbonX1ShenzhenPharmaceutical & Healthcare2016Apr-2016
80iTutorGroup1Silicon ValleyEducation2015Nov-2015
81Jiangsu Zimi Technology1WuxiIndustrial & Manufacturing2016Feb-2015
82Lamabang1ShenzhenMedia & Entertainment2015Feb-20172019
83Liepin1BeijingInternet & IT2016Jun-2016
84Mia.com1BeijingRetail & Consumer2015Oct-2016
85Mofang Apartment1ShanghaiReal Estate & Construction2016Apr-2016
86Pinduoduo1ShanghaiRetail & Consumer2016Jul-2016
87Smartmi1BeijingIndustrial & Manufacturing2017May-2015
88Unisound1BeijingInternet & IT2014Aug-2017
89Wifi Master Key 1ShanghaiInternet & IT2015Dec-2016
90WM Motor1ShanghaiAuto & Transportation2016Nov-2017
91Womai1BeijingRetail & Consumer2015Oct-20152018
92Xiaohongshu1ShanghaiRetail & Consumer2016Mar-2016
93Xiaozhu.com1BeijingReal Estate & Construction2017Nov-2017
94YH Global1ShenzhenAuto & Transportation2017Sep-2017
95Yuanfudao1BeijingEducation2017May-2017
96Yitu Technology1ShanghaiInternet & IT2016Nov-2017
97Yidian Zixun1BeijingMedia & Entertainment2017Oct-2017
98Yunmanman1NanjingAuto & Transportation2016Nov-2017
99Zhaogang.com1ShanghaiEnergy and Resources2017Jul-20172018
100Zhihu1BeijingMedia & Entertainment2017Jan-2017
10151Xinyongka1HangzhouFinancial Services2016Jul-2017
10258 Daojia1TianjinInternet & IT2015Oct-2015
1039fbank.com1BeijingFinancial Services2014Nov-2017
104Vipkid1BeijingEducation2017Aug-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

Last Updated: Feb 09, 2018