Two Ningbo companies named to Hurun Global Unicorn Index 2026

The site of Keyuan Petrochemicals. [Photo/Yongpai App]

Two Ningbo-based companies have secured places on the 2026 Hurun Global Unicorn Index, highlighting the city's growing strength in innovation and high-tech industries.

Released by the Hurun Research Institute on June 25, the list ranks privately held companies founded after 2000 with valuations exceeding $1 billion. This year's ranking features a record 1,603 unicorns worldwide, with the United States leading at 806 companies and China remaining at second place with 381.

Ningbo companies on the list include Rong Semiconductor Corporation, valued at 16 billion yuan ($2.35 billion) and ranked 541st globally, and Keyuan Petrochemicals, valued at 7.5 billion yuan and ranked 1,209th. Rong Semiconductor Corporation has appeared on the list for several consecutive years, while Keyuan Petrochemicals has now been recognized twice in a row.

The latest ranking underscores the rise of artificial intelligence as the world's dominant unicorn sector, with AI companies accounting for more than one-third of the total value of all unicorns. China's unicorns are concentrated in semiconductors, AI, life sciences, and new energy, reflecting the country's focus on strategic emerging industries.

Ningbo's unicorn ecosystem continues to expand. Following the successful public listings of companies in AI chips, semiconductors, medical devices and new-energy vehicles in recent years, a new generation of innovative local firms is expected to join the ranks of global unicorns in the years ahead.