3 Ningbo companies recognized as potential global 'unicorns'

chinadaily.com.cn| Updated:  December 21, 2023 L M S

Three companies based in Ningbo, Zhejiang province have been included in the Hurun Global Cheetah Index 2023, as announced by the Hurun Research Institute on Dec 19.

The Hurun Global Cheetah Index is a curated selection of startups worldwide that have the potential to achieve unicorn status — those valued at $1 billion or more — within five years of their establishment, starting from 2000. The valuations for this index were calculated based on data as of Dec 31, 2022.

Among the 747 companies listed as cheetahs from around the world, China and the United States dominated the rankings with 291 and 246 companies, respectively. Three companies from Ningbo - Emergen, GravityXR, and TRS Microelectronics - have secured a coveted spot on the list.

Emergen, founded by Gan Zhongxue, a distinguished expert in China's mechanical automation domain, specializes in the research, development, and manufacturing of industrial robots.

TRS Microelectronics focuses on cutting-edge chip testing and packaging. The company, having previously been recognized on the Hurun China Cheetah Companies List in 2021, became the first cheetah company in Ningbo. It operates three strategic centers in Ningbo, Qingdao, and Shanghai.

As its name suggests, GravityXR concentrates its efforts on developing specialized chips and related components for extended reality devices. The company is dedicated to providing comprehensive technical solutions for the next generation of XR spatial computing.

All three Ningbo companies on the list operate in the digital economy sector while maintaining close ties to the manufacturing industry. This achievement serves as a testament to Ningbo's unique strengths in industrial innovation and the global business landscape.