Reforgene named a potential unicorn enterprise in China

On June 20, 2023, at the China (Suzhou) Unicorn Enterprise Conference, Great Wall Strategy Consulting released the "China Potential Unicorn Enterprise Research Report 2023". With its rapid development and technological innovation capability in the gene editing medicine field, Reforgene was listed among China's potential unicorn enterprises, gaining industry and social recognition. This is another honor for Reforgene following its selection as a 2022 Guangzhou Future Unicorn innovative enterprise, confirming the company's continuously growing technological strength.

The new round of global technological revolution and industrial transformation is accelerating, and technological innovation has become a revolutionary force driving social progress. Potential unicorn enterprises bear the important mission of the technological revolution and industrial transformation, are typical representatives of technology backbone enterprises, and play an important role in leading technological innovation, opening up new fields and new tracks, and shaping new development drivers and advantages.

In 2022, China's potential unicorn enterprises were distributed across 54 cities. Among them, Beijing had 138, Shanghai 118, Suzhou 75 and Shenzhen 54, with the four cities accounting for 59% of the national total; Guangzhou, Hangzhou and Nanjing each had more than 25 potential unicorn enterprises. It is worth noting that 13 cities, including Changzhou, Dongying, Guang'an, Mianyang, Yichun and Zhenjiang, saw their first potential unicorn enterprises. More than 90% of potential unicorn enterprises were distributed in the four city clusters of Beijing-Tianjin-Hebei, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area, and Chengdu-Chongqing, totaling 598; more than 60% were distributed in 31 national high-tech zones, totaling 431.

Frontier technology potential unicorn enterprises accounted for more than 70%. In 2022, a total of 477 potential unicorn enterprises belonged to frontier technology fields, with more than 20 enterprises in each of seven tracks including integrated circuits, innovative drugs and artificial intelligence. China's potential unicorn enterprises held 17,670 valid patents, of which 6,590 were valid invention patents. A total of 114 potential unicorn enterprises held 446 PCT patent applications, with enterprises in the innovative drug track performing particularly well.

In 2022, a total of 48 potential unicorns advanced to unicorn status or successfully listed. In 2022, 374 potential enterprises received new financing totaling USD 15.26 billion, with nearly 80% of integrated circuit track enterprises receiving new financing in 2022. In 2022, 38 enterprises grew into unicorn enterprises, and 10 enterprises successfully listed on domestic and international capital markets, of which 7 listed on the STAR Market of the Shanghai Stock Exchange, 2 on the Hong Kong Stock Exchange and 1 on NASDAQ.

Great Wall Strategy Consulting is the earliest think tank institution in China to research and release the "Unicorn" list, having released the China Unicorn Enterprise list and research reports for seven consecutive years since 2016, and the China Potential Unicorn Enterprise list and research reports for four consecutive years since 2020.