An electric car developed by Zeeker. [Photo/cnnb.com.cn]

Two additional companies based in Ningbo, Zhejiang province, have been recognized as unicorns, according to the Global Unicorn Index 2024 released by the Hurun Research Institute on April 9.

The two companies, Zeeker and Rong Semiconductor, secured the 28th and 482nd positions on the list, with valuations reaching 92 billion yuan ($12.71 billion) and 16 billion yuan, respectively.

Zeeker, a distinguished electric car brand owned by Geely, established its global headquarters in Ningbo in June 2021. The company made substantial strides in 2023, introducing five new models to the market. Notably, Zeeker's revenue in 2023 surged to 51.64 billion yuan, representing a substantial year-on-year increase of 62.4 percent. To date, the carmaker has delivered over 200,000 vehicles across all models.

Hurun has been tracking global unicorns - startups founded in the 2000s worth more than $1 billion yuan but not yet listed on a public exchange anywhere in the world.

Since 2019, the number of unicorns worldwide has tripled from 494 to 1,453. These unicorns come from 53 countries and 291 cities, with the United States leading the pack with 703 companies, followed by China with 340, according to the index.

Eclipsing SpaceX, TikTok owner ByteDance, based in Beijing, has become the world's most valuable unicorn for three consecutive years, with a value of $220 billion, as indicated by the index.