Yinlong Energy listed as China unicorn company

With valuation of $1.95 billion, Zhuhai Yinlong Energy Co Ltd ranked 49th on the 2016 China Unicorn Enterprises List, which was released by the Torch Center of the Chinese Ministry of Science & Technology earlier this month. Associated with the assessment is the Great Wall Enterprise Strategy Institute.

The 2016 China Unicom Enterprise Development Report was also published. The total valuation of 131 Chinese Unicorn enterprises is $487.6 billion, and the average valuation is $3.72 billion.

Unicorn companies, widely acknowledged in Chinese business, refer to startups that have been established for fewer than 10 years with an estimated value of at least $1 billion. They also have private equity investment, but have not yet gone public. The concept was first raised in 2013 by Aileen Lee, founder of the seed-round fund Cowboy Ventures.

Yinlong electric automobile 

The report states that technology-driven Unicorns continue to emerge. A major characteristic is that the newcomers are primarily distributed in artificial intelligence, big data, cloud computing, business services, social networking, internet security, new media, and other technology and innovative industrial sectors.

Yinlong Energy is a large modern hi-tech enterprise in the new-energy industry. Since it was founded in December 2009, Yinlong has focused on lithium battery materials and has been working on a new-energy closed-loop industry chain of lithium batteries, electric automobile power assembly, complete vehicle production, and the R&D, manufacture and marketing of smart-grid energy storage systems. Its three core values are represented by Yinlong Titanium, pure-electric vehicles, and innovative all-aluminum-body craftsmanship.

Wei Yincang presents the company’s core business values. [Photos by Kang Zhenhua / Zhuhai Daily]

Last year, Yinlong was a dark horse that ranked 5th in the electric bus industry. “Though the grade is not so gratifying, Yinlong is the only Chinese company among the world’s leading enterprises with innovative and functional core technology in the bus industry,” Yinlong president Wei Yincang stated.

In the near future, Yinlong will build an industrial park for new-energy vehicles in Lanzhou, Gansu Province, expanding its market into the northwest region. To fulfill this ambition, a plan has already been put on the table with estimated funding of 10 billion yuan ($1.45 billion). Its production bases in Tianjin, Chengdu, Zhuhai, and Nanjing are well under construction, Wei disclosed.