By Jin Lu

Two Ningbo-based companies have been included in the 2026 Hurun Global Unicorn Index, reflecting the city's continued growth in high-tech industries and innovation.

Released by the Hurun Research Institute on June 25, the annual ranking tracks privately held companies founded after 2000 with valuations of more than $1 billion. This year's list includes a record 1,603 unicorns worldwide. The US leads with 806 companies, followed by China with 381.

The two Ningbo companies on this year's list are Rong Semiconductor Corporation, ranked 541st with a valuation of 16 billion yuan ($2.35 billion), and Keyuan Petrochemicals, ranked 1,209th with a valuation of 7.5 billion yuan. Rong Semiconductor has appeared on the index for several consecutive years, while Keyuan Petrochemicals has now been included for the second straight year.

According to the report, artificial intelligence has become the world's largest unicorn sector by value, accounting for more than one-third of the combined valuation of all companies on the list. In China, unicorns are concentrated in sectors including semiconductors, artificial intelligence, life sciences and green energy.

Ningbo's pipeline of high-growth technology companies has continued to expand in recent years. Following the public listings of local companies in sectors such as AI chips, semiconductors, medical devices and electric vehicles, more innovative firms are expected to emerge as future unicorns.