Home> Latest

Wenzhou companies shine on 2024 global unicorn list

ezhejiang.gov.cn| Updated: April 11, 2024 L M S


A Chint Group photovoltaic module intelligent manufacturing factory. [Photo/tidenews.com.cn]

With the recent release of Hurun Research Institute's Global Unicorn Index 2024, Wenzhou-based Chint Group's Chint Anneng and Chint Solar stood out with worldwide rankings of 75th and 408th, respectively, among all recognized non-public companies founded after 2000 and valued at over $1 billion.

Chint Anneng, established in 2015, leads the pack as the largest domestic household photovoltaic energy service provider in China. With over 1 million household PV power stations developed, it boasts the top market share in the country. Currently undergoing an IPO, Chint Anneng's valuation surged by 28 billion yuan ($3.86 billion) over the past year, reaching 60 billion yuan.

Chint Solar also experienced a valuation boost, rising by 10.7 billion yuan to 18.5 billion yuan. Together, these two subsidiaries contribute to Chint Group's staggering total valuation of 78.5 billion yuan.

Fox ESS, a Wenzhou-headquartered company specializing in energy storage inverters and battery systems, has quickly expanded its market globally. With a valuation of 10 billion yuan, it rightfully earned its spot on the list, ranking 846th.

The Global Unicorn Index 2024 showcased companies like ByteDance, SpaceX, and OpenAI at the forefront, with AI notably replacing e-commerce as one of the top sectors for unicorns. The total number of known global unicorns on this year's list has reached nearly 1,500, with the United States and China owning 703 and 340 unicorns, respectively.