Two Jinan companies make Global Unicorn Index 2024

Two Jinan companies were included in the Global Unicorn Index 2024, which was released recently by the Hurun Research Institute.

"Unicorn companies" are young start-ups with an estimated value of over $1 billion.

The two Jinan companies are Lingong Heavy Machinery Co and Shandong High-speed Communication Technology Co.

Lingong Heavy Machinery ranks 846th with a value of 10 billion yuan ($1.38 billion). The company was established in February 2012 in Jinan Innovation Zone. The company focuses on various business sectors, including mining equipment, aerial work machinery, special machinery, and key components.

Lingong Heavy Machinery has received various honors at the global, national, provincial, and municipal levels, including being named among the "top 100 global engineering machinery manufacturers", "top 5 Chinese aerial work equipment manufacturers", and the "leading science and technology company in Shandong."

Jinan's other unicorn company, Shandong High-speed Communication Technology Co, ranks 1,118th on the list with a value of 7.1 billion yuan. Owned by Shandong High-speed Group, it is a leading company in the national ETC issuance service industry.

Established in July 2019 with a registered capital of 527 million yuan, the company focuses on the transportation and logistics industry, providing comprehensive services related to vehicles such as ETC issuance services, data technology based on ETC, Internet refueling, smart parking, and intelligent car washing.

The Global Unicorn Index 2024 included 1,453 unicorn companies that were established after the year 2000 and are valued at over $1 billion, distributed across 291 cities in 53 countries. Shandong has a total of 10 companies in the index.