The 2026 Global Unicorn List, compiled by the Hurun Research Institute, was released on June 25th, featuring a total of 1,603 companies worldwide. China secured the second position with 381 unicorn companies. Shandong province contributed 13 companies to the list, marking an increase of three from the previous year.
The 13 Shandong-based companies that made the list are Goertek Microelectronics, Nenglian, Teld, Dongyue Hydrogen Energy, Kaos, Haier New Energy, Ngencell Technology, Ririshun, Lingong Heavy Machinery, Zhongjiate Electric, Xinlian Technology, Oriental Space, and WEGO Intervention. Among these, Haier New Energy, Ngencell Technology, and Oriental Space are new entrants this year.
Qingdao Dominates Provincial List with Eight Entries
From a city distribution perspective, Qingdao leads with eight listed companies. Goertek Microelectronics, Nenglian, Teld, Kaos, Haier New Energy, Ngencell Technology, Ririshun, and Zhongjiate Electric are all based in Qingdao, accounting for over 60% of the province's total entries. Goertek Microelectronics, with a valuation of 19 billion yuan, ranks 452nd globally and maintains its position as Shandong's highest-valued unicorn. The company, founded in 2017, focuses on the semiconductor sector.
Jinan is home to two listed companies, Lingong Heavy Machinery and Xinlian Technology. Yantai, Zibo, and Weihai each contributed one company: Oriental Space, Dongyue Hydrogen Energy, and WEGO Intervention, respectively.
Three New Shandong Entrants Span New Energy, Semiconductors, and Commercial Space
Three new unicorn companies from Shandong joined the list this year. Haier New Energy, established in 2022 and formerly known as Ririshun New Energy Technology Co., Ltd., specializes in the new energy sector. Earlier this year, the company completed a Series B financing round exceeding 1 billion yuan, with investors including China Merchants Bank, CNPC Kunlun Capital, and ABC Investment. This marks its first inclusion in the global unicorn list.
Similarly, Ngencell Technology, a new entrant founded in 2002, is deeply involved in the semiconductor field and is 48.61% controlled by the Hisense Group. The company submitted a new listing application to the Hong Kong Stock Exchange in March 2026, and its inclusion in the global unicorn list signifies further international recognition of its market influence.
The other new company is Yantai-based commercial space firm Oriental Space. Founded in 2020, it focuses on space launch and commercial aerospace services, representing an important player in Shandong's future industries.
New Energy and Semiconductors Dominate as Shandong Unicorns Shift Towards Hard Tech
An analysis of the 13 listed companies reveals that the new energy and semiconductor sectors are becoming the dominant forces among Shandong's unicorns. In new energy, four companies—Nenglian, Teld, Dongyue Hydrogen Energy, and Haier New Energy—cover various segments including charging networks, hydrogen materials, and integrated energy services. Dongyue Hydrogen Energy notably surged from rank 1,183 last year to 740 this year, a jump of 443 positions, achieving rapid growth within a year. The debut of Haier New Energy extends Shandong's new energy unicorn presence into the broader field of integrated energy management.
The semiconductor sector also shows significant highlights. Goertek Microelectronics firmly holds the top spot in Shandong, while Ngencell Technology enters the global stage as a new contender. Combined with companies like Kaos (industrial internet), Ririshun (smart logistics), Lingong Heavy Machinery, and Zhongjiate Electric (high-end equipment), Shandong's unicorn enterprises are diversifying from the past model of relatively singular manufacturing "hidden champions" to a broader array of sectors including hard technology, new infrastructure, and future industries.
Shandong Intensifies Unicorn Cultivation Efforts
As the first province in China to initiate a provincial-level program for cultivating and certifying gazelle enterprises, Shandong has been continuously refining its high-growth enterprise cultivation system since starting related work in 2017. As of June 2025, the province has cultivated a cumulative total of 3,028 provincial-level gazelle enterprises and 28 unicorn companies, with over 30,000 innovative SMEs and 18,000 specialized and sophisticated "little giant" SMEs in effect.
The 2026 Shandong Provincial Government Work Report proposed strengthening important carriers for the modern industrial system. It includes implementing an industrial enterprise scale leap action, aiming to newly cultivate over 300 unicorn, "little giant," and single-product champion enterprises. In April 2026, the Provincial Department of Industry and Information Technology released draft implementation rules for the cultivation and management of gazelle and unicorn enterprises, proposing to change the application channel from annual centralized submissions to "year-round acceptance," while further refining evaluation standards and strengthening dynamic management.
Currently, global unicorn competition is shifting from pure scale contests to deep competition in hard technology sectors. Policy support is expected to provide more high-growth enterprises with timely access to capital and policy alignment. With ongoing interaction between policy and market forces, it remains to be seen whether Shandong can produce more "phenomenal" enterprises in this round of emerging industry competition.
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