31 OVC companies make 2024 unicorn list

The Wuhan municipal bureau of economy and informatization recently announced the 2024 list of unicorn companies, which features 31 enterprises from the Wuhan East Lake High-tech Development Zone (Optics Valley of China, or OVC).

The selected OVC companies are involved in industries such as optoelectronic information, new energy, intelligent connected vehicles, and life sciences.

Wuhan Prime Meridian Information Technology Co and Wuhan Polytechnic Digital Communication Engineering Co were recognized as unicorns. At the same time, Wuhan Immorta Microelectronics Co, Wuhan Weineng Battery Assets Co, and Wuhan MEMSonics Technologies Co were listed as potential unicorns.

CX Robot Connect is designated as the component and service supplier for the first lane-level L4 unmanned heavy-duty delivery vehicle in China. [Photo/WeChat account of Optics Valley of China]

CX Robot Connect (Wuhan) Technology Co, Ju'an Energy Storage Wuhan Technology Co, and Wuhan Ariselight Technology Co were designated as seed unicorns.

In April this year, CX Robot Connect, a company specializing in satellite-denied intelligent navigation products, was designated as the component and service supplier for multiple mainstream automakers and the first lane-level L4 unmanned heavy-duty delivery vehicle in China.

Unicorns represent companies with high growth potential and indicate new economic trends. In November last year, Wuhan issued the "Three-Year Action Plan to Accelerate the Cultivation of Unicorn Enterprises in Wuhan (2023-2025)", aiming to nurture over 20 unicorns and 30 potential unicorns by 2025.

Wuhan will explore potential companies in emerging sectors like optoelectronic information, artificial intelligence, and quantum computing, establishing a database of unicorn and potential unicorn enterprises.