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:669.5
1Ant Financial75HangzhouFinancial ServicesApr-2016
2Xiaomi Inc68BeijingIndustrial & Manufacturing2011Apr-2015
3Didi Chuxing57.6BeijingAuto & Transportation2014Dec-2017
4Aliyun39HangzhouInternet & ITJul-2015
5Meituan-Dianping30BeijingRetail & Consumer2015Oct-2017
6Cainiao Network20HangzhouAuto & Transportation2016Sep-2017
7Contemporary Amperex Technology20NingdeIndustrial & Manufacturing2016Aug-2017
8Toutiao20BeijingMedia & Entertainment2016Apr-2017
9Lufax18.5ShanghaiFinancial Services2014Jan-2016
10Pinduoduo15ShanghaiRetail & Consumer2016Apr-2018
11JD Logistics13.5BeijingAuto & Transportation2018Feb-20182018
12Jiedaibao10.7BeijingFinancial Services2016Jan-2016
13DJI10ShenzhenIndustrial & Manufacturing2015Sep-2015
14Tencent Music10ShenzhenMedia & Entertainment
15WeBank9.5ShenzhenFinancial Services2016Jan-2016
16Ping An Healthcare Technology8.8ShanghaiFinancial Services2018Feb-2018
17Koubei8HangzhouRetail & Consumer2015Jan-2017
18OneConnect8ShanghaiFinancial Services2018Feb-2018
19JD Finance7.7BeijingFinancial Services2016Mar-20182021
20Lianjia6BeijingReal Estate & Construction2016Nov-20172021
21Ping An Good Doctor5.4ShanghaiPharmaceutical & Healthcare2016Feb-2018
22NIO5ShanghaiAuto & Transportation2017Nov-20172018
23Trendy International Group5GuangzhouRetail & Consumer2011Feb-20122018
24United Imaging Healthcare5ShanghaiPharmaceutical & Healthcare2017Sep-2017
25WM Motor5ShanghaiAuto & Transportation2016Nov-2017
26BAIC BJEV4.5BeijingAuto & Transportation2017Aug-2017
27SenseTime4.5BeijingInternet & IT2017Apr-2018
28Meizu4.4ZhuhaiIndustrial & Manufacturing2014Oct-20162018
29Jubaohui4ShenzhenFinancial Services2016Nov-2016
30UBtech Robotics4ShenzhenInternet & IT2016Nov-20172018
31Shouqi Car Rental3.55BeijingAuto & Transportation2016Dec-20162022
32e-Shang Redwood3.25HongKongAuto & Transportation2017Jul-2017
33Chehaoduo (Guazi)3.2BeijingAuto & Transportation2016Mar-20182019
34Maoyan-Weiying3.2BeijingMedia & Entertainment2015Nov-20172018
35Henlius3.18ShanghaiPharmaceutical & Healthcare2017Dec-2017
36Ali Music 3ShanghaiMedia & EntertainmentSep-2016
37Jia.com3ShanghaiReal Estate & Construction2015Feb-2015
38Kuaishou3BeijingMedia & Entertainment2015Mar-20172018
39Meili United Group 3HangzhouRetail & Consumer2014Nov-2015
40Royole3ShenzhenIndustrial & Manufacturing2016Sep-2017
41LY.com3SuzhouHospitality & Leisure2015Aug-2016
42Yiguo.com3ShanghaiAgriculture & Food2016Aug-2017
43Yixia Technology3BeijingMedia & Entertainment2015Nov-20162018
44Ziroom3BeijingReal Estate & Construction2018Jan-2018
45UnionPay Merchant Services2.8ShanghaiFinancial Services2015Oct-2016
46Ofo2.6BeijingAuto & Transportation2017Mar-2018
47Face++2.5BeijingInternet & IT2016Nov-2017
48Kingsoft Cloud2.4BeijingInternet & IT2016Jan-2018
49Three Squirrels2.09WuhuAgriculture & FoodSep-2015
50Huimin.cn2BeijingRetail & Consumer2016Sep-20162019
51Manbang Group (Huochebang-Yunmanman)2GuiyangAuto & Transportation2016Nov-2017
52Meicai.cn2BeijingAgriculture & Food2016Jun-2016
53Renrendai.com2BeijingFinancial Services2016Jan-2014
54Taopiaopiao2HangzhouMedia & EntertainmentJul-2017
55Tubatu.com2ShenzhenReal Estate & Construction2015Mar-2015
56Youxinpai2BeijingAuto & Transportation2016Jan-2017
57Yinlong Group1.95ZhuhaiClean Energy & Environment2017Dec-2016
58Youxia Motors1.94ShanghaiAuto & Transportation2018Apr-2018
59Sanpower Group1.93ShanghaiPharmaceutical & Healthcare
60Apus Group1.85BeijingInternet & IT2015Aug-2017
61Taihe Music Group1.7BeijingMedia & Entertainment
62Ucommune1.7BeijingReal Estate & Construction2017Feb-2018
63AIWAYS1.6ShanghaiAuto & Transportation2018Apr-2018
64Caocao Zhuanche1.6HangzhouAuto & Transportation2018Jan-2018
65Xiaopeng Motors1.6GuangzhouAuto & Transportation2018Jan-2018
6651Xinyongka1.6HangzhouFinancial Services2016Jul-2017
67Spring Rain Software1.5BeijingPharmaceutical & Healthcare
68Douyu TV1.5WuhanMedia & Entertainment2017Nov-2017
69Lakala 1.5BeijingFinancial Services2015Jun-2015
70Ninebot1.5TianjinIndustrial & Manufacturing2016Oct-2017
71We Doctor (Guahao.com)1.5HangzhouPharmaceutical & Healthcare2015Jan-2016
72Souche1.5HangzhouAuto & Transportation2017
73Tujia1.5BeijingReal Estate & Construction2015Oct-2017
74UCloud1.5ShanghaiInternet & IT2017
75Vipkid1.5BeijingEducation2017Aug-2017
76ZBJ.com1.5ChongqingInternet & IT2015Jun-20172018
77Tuandaiwang1.46DongguanFinancial Services2017May-2017
78Babytree1.45BeijingRetail & Consumer2015Jul-2016
79Koudai Gouwu1.45BeijingRetail & Consumer2014Oct-2014
80Weidai.com.cn1.38HangzhouFinancial Services2016May-2016
81ETCP1.3BeijingAuto & Transportation2017Oct-2016
82Qutoutiao1.3ShanghaiMedia & Entertainment2018Mar-2018
83Alisports1.27ShanghaiMedia & EntertainmentApr-20182022
84Loji Logistics1.26BeijingAuto & Transportation2016May-2015
85Iwjw1.25ShanghaiReal Estate & Construction2015Nov-2015
86Byton1.2NanjingAuto & Transportation2018Aug-2017
87EasyLife1.2BeijingFinancial Services2016Dec-2016
88NewDada1.2ShanghaiAuto & Transportation2015Oct-2016
89NetEase Cloud Music1.16HangzhouMedia & Entertainment2017Apr-2017
90Luoji Siwei1.1BeijingMedia & Entertainment2017Sep-20172018
91NetEase Youdao1.1BeijingEducation2018Apr-2018
92Hujiang1.08ShanghaiEducation2015Oct-2015
93Beibei1HangzhouRetail & Consumer2015Jun-2016
94Bitmain1BeijingFinancial Services2017Sep-2017
95Cambricon1BeijingIndustrial & Manufacturing2017Aug-2017
96Cheyipai1BeijingAuto & Transportation2015Sep-2016
97Chubao Technology1ShanghaiInternet & IT2017May-2017
98Dianrong1ShanghaiFinancial Services2017Jan-2018
99Dt Dream1HangzhouInternet & IT2017Jun-2017
100DXY1HangzhouPharmaceutical & Healthcare2018Apr-2018
101Futu Securities1HongKongFinancial Services2017Jun-2017
102FXiaoKe1BeijingInternet & IT2015Jan-2018
103Fangdd.com1ShenzhenReal Estate & Construction2015Sep-2015
104Fanli1ShanghaiRetail & Consumer2015Apr-2015
105iCarbonX1ShenzhenPharmaceutical & Healthcare2016Apr-2016
106Inke1BeijingMedia & Entertainment2017Sep-2017
107Innovent Biologics1SuzhouPharmaceutical & Healthcare2017Nov-2016
108iTutorGroup1Silicon ValleyEducation2015Nov-2015
109Jiangsu Zimi Technology1WuxiIndustrial & Manufacturing2016Feb-2015
110Lalamove1HongKongAuto & Transportation2017Oct-2017
111Lamabang1ShenzhenMedia & Entertainment2015Feb-20172019
112Liepin1BeijingInternet & IT2016Jun-2016
113Mia.com1BeijingRetail & Consumer2015Oct-2016
114MissFresh1BeijingRetail & Consumer2017Dec-2017
115Mobvoi1BeijingInternet & IT2017Apr-2017
116Mofang Apartment1ShanghaiReal Estate & Construction2016Apr-2016
117Novogene1BeijingPharmaceutical & Healthcare2017Nov-2016
118QingCloud1BeijingInternet & IT2017Jun-2017
119Smartmi1BeijingIndustrial & Manufacturing2017May-2015
120Tongdun Technology1HangzhouInternet & IT2017Oct-2017
121Unisound1BeijingInternet & IT2014Aug-2017
122Wifi Master Key 1ShanghaiInternet & IT2015Dec-2016
123Womai1BeijingRetail & Consumer2015Oct-20152018
124Xiaohongshu1ShanghaiRetail & Consumer2016Mar-2016
125Xiaozhu.com1BeijingReal Estate & Construction2017Nov-2017
126YH Global1ShenzhenAuto & Transportation2017Sep-2017
127Yuanfudao1BeijingEducation2017May-2017
128Yitu Technology1ShanghaiInternet & IT2016Nov-2017
129Yidian Zixun1BeijingMedia & Entertainment2017Oct-2017
130Yunmanman1NanjingAuto & Transportation2016Nov-2017
131Zhaogang.com1ShanghaiEnergy and Resources2017Jul-20172018
132Zhihu1BeijingMedia & Entertainment2017Jan-2017
133Zhuanzhuan1BeijingRetail & Consumer2017Apr-2017
134Zuoyebang1BeijingEducation2017Aug-2017
13517Zuoye1ShanghaiEducation2017Mar-2018
13636Kr Media1BeijingMedia & Entertainment2017Dec-2017
13758 Daojia1TianjinInternet & IT2015Oct-2015
1389fbank.com1BeijingFinancial Services2014Nov-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: Mar 23, 2018