On January 15, the Hurun Research Institute released the list of "Hurun China Unicorn Graduates 2025 - In Search of China's Most Successful Former Unicorns," which ranks Chinese listed companies founded after 2000 with a value exceeding one billion USD based on their corporate valuation. The valuations are as of May 15, 2025. This is the first time the institute has published a list of this kind.

These listed companies are distributed across 126 cities in 32 provincial-level administrative regions in China, with a total value of 24 trillion CNY. On average, they were founded in 2006 and are 19 years old, nine years older than the Chinese unicorns featured in the Global Unicorn Index 2025. The average listing year for these companies is 2018, with nearly half having gone public after 2020. Around 80% are B2B companies. The top five industries with the highest number of companies on the list are semiconductors (104 companies), industrial equipment (96), biotechnology (68), new energy (59), and software services (38), together accounting for 46% of the total. In terms of corporate value, the top five highest-value industries are semiconductors, new energy, industrial equipment, consumer electronics, and biotechnology.

A total of 18 companies from Changsha made the list. They are: Aier Eye Hospital Group Co., Ltd. (ranked 24th), Anker Innovations Co., Ltd. (71st), Jingjia Micro Electronics Co., Ltd. (123rd), Yifeng Pharmacy Chain Co., Ltd. (136th), Hunan Gold Corporation (162nd), Yanjin Shop Food Co., Ltd. (183rd), Willfar Information Technology Co., Ltd. (287th), Farsoon Technologies Co., Ltd. (311th), Goke Microelectronics Co., Ltd. (333rd), LBX Pharmacy Chain Co., Ltd. (352nd), Sinocare Biosensor Co., Ltd. (421st), Junxin Environmental Protection Co., Ltd.  (462nd), Sansure Biotech Inc. (462nd), Juewei Food Co., Ltd. (530th), Minmetals New Energy Materials (Hunan) Co., Ltd. (580th), Hunan Aerospace Huanyu Communication Technology Corp., Ltd. (689th), Hunan Jiudian Pharmaceutical Co., Ltd. (689th), and Hunan Friendship & Apollo Holdings Co., Ltd. (689th).

This article is from the Hunan Provincial Government www.enghunan.gov.cn. 

Translator: Kuang Zhenzhen

Chinese source: Changsha Evening News