Bitmain Ranks No. 13 in Hurun Greater China Unicorn Index
July 18, Hurun Report launched the Hurun Greater China Unicorn Index 2018 Q2, in association with Shimao Qianhai Center. It is the third time for Hurun Report to launch an unicorn index. According to the report, in the first half of 2018, a new unicorn comes into being in every 3.5 days in China. The total amount of unicorns in China end up rose to 162. It is also worth noting that, 3 crypto miner manufacturers from the blockchain industry elbow its way into Hurun’s unicorn list for the first time.
In 2018, there are 52 new unicorns pop up, 19 of them come into being in Q2 2018 while 10 companies withdrew from the list (8 of them have completed their IOPs and the other two are acquired).
Among the 19 new unicorns, Bitmain ranks first with a valuation of 70 billion RMB while Canaan Creative ranks third with a valuation of 20 billion RMB. According to the report, 5 out of 19 new unicorns are internet service providers while blockchain becomes the second hottest area comes up with 3 unicorns including Bitmain, Canaan and Ebang.
Hurun further pointed out that, blockchain related industry keeps growing in a rapid rate in the second quarter of 2018. The China-based crypto miner maker Canaan has submitted listing application to Hong Kong Stock Exchange (HKEX) in May 2018 which expected to raise about $1 billion. Yibang is also planning to get listed in HKEX 3 months after it has been removed from NEEQ market.
It was also reported that Bitmain is in the pre-IPO round of financing with US$12 billion in valuation with investors like Sequoia. The firm will submit listing applications to HKEX in September this year.
“Under the US trade war influence, the new economy is fairly important to China’s future development. However, it is still worth to notice the valuation bubble among the new economic unicorns. These startups have a fast-return on investment and represents the develop direction in the future of the new economy. The firms on the list are more likely to grow into world-class industrial giants and become the next ‘BAT’,” said Hurun.