Hurun Research Institute releases the 2025 Hurun China Unicorn Graduation List for the first time, with SIE, Pinduoduo, Xiaomi, and CATL included in the ranking.
On January 15, Hurun Research Institute, the world’s leading compiler of rankings for entrepreneurial enterprises, released for the first time the **2025 Hurun China Unicorn Graduation List** in Yizhuang, Beijing. The list features Chinese listed companies founded after 2000 with a valuation of over US$1 billion, ranked by corporate value. Valuations were calculated as of May 15, 2025. The listing systematically recognizes and honors outstanding enterprises that have transitioned from unicorn status to the public market and serve as benchmarks in industrial influence, corporate governance, and long-term value creation.
With its profound industry expertise and strong comprehensive strength, **SIE** was named to the list alongside industry giants such as Pinduoduo, Xiaomi, and CATL. This accolade marks an important milestone in SIE’s development journey and a strong endorsement of its technical capabilities and commercial value by the industry.
The list comprises a total of 796 enterprises across 126 cities in 32 provinces nationwide. The combined value of these “unicorn graduates,” led by Pinduoduo, Xiaomi, and CATL, reaches **24 trillion RMB**, demonstrating the vibrant vitality of China’s innovation and entrepreneurship ecosystem. Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, noted that China’s innovation and entrepreneurship landscape can only be fully understood by examining both the Unicorn List and the Graduation List. China currently has more than 1,100 young enterprises valued at over US$1 billion, of which 70% have “graduated” and 30% remain in the growth stage. Their combined value exceeds 30 trillion RMB, reflecting strong market confidence in their value creation over the next decade. SIE’s inclusion further underscores its leading position and sustainable comprehensive strength in the industry.
On average, listed companies on the ranking take **12 years** to “graduate” from founding to public listing. This timeframe aligns closely with the evolution cycle of China’s tech industry: from the internet revolution reshaping information connectivity, to mobile internet transforming daily life and business models, to the current profound transformation of social production and lifestyles driven by AI and large models. Each wave of industrial upgrading has spawned new development opportunities, and SIE’s growth has precisely kept pace with every phase of industrial advancement.
Founded in 2005, SIE took root during the wave of information technology, gradually building industry experience and technical competencies. It successfully went public in 2017, coinciding with smart manufacturing and digital upgrading becoming national strategies, which provided powerful momentum for its development. After 21 years of deep industry engagement, SIE has achieved a leapfrog transformation from an ERP implementation service provider to a full-stack digital-intelligent solutions provider covering three core sectors: **Extended ERP, Smart Manufacturing, and AI**. It has become a trusted core partner for digital-intelligent transformation among many leading enterprises, including CATL.
Relying on its core cooperation model of **“Industrial Internet + New Energy”**, SIE has established a mature partnership with CATL covering the entire smart manufacturing value chain, injecting strong impetus into the digital-intelligent upgrading of the new energy industry. With continuous investment and technological breakthroughs in smart manufacturing, SIE has ranked **first in MES market share in the high-tech electronics sector for four consecutive years** and achieved **three consecutive years of leading market share in the photovoltaic and home appliance industries**. Its complete proprietary product portfolio and extensive implementation experience have consolidated its industry-leading position.
Going forward, SIE will continue to prioritize technological innovation, uphold the philosophy of **“Customer-Centricity, Independent Innovation, and Ecological Collaboration for Long-Term Growth”**, and be guided by the development of new quality productive forces. It will further deepen the integration of AI technologies with application scenarios, continuously empower industrial digital-intelligent transformation, and contribute more to the development of China’s innovation and entrepreneurship ecosystem.
