Liu Suhua, managing director of Shenzhen Capital Group: Shenzhen has 42 unicorn companies, ranking first in net increase in the number of unicorns among cities nationwide.

At the 2025 China (Shenzhen) Unicorn Conference held today, the President of Shenzhen Private Equity Fund Industry Association and Deputy Secretary of the Party Committee and President of Shenzhen Capital Group, Liu Suhua, released the "Research Report on Unicorn Enterprises and Gazelle Enterprises in Shenzhen 2025". The report stated that there are 42 unicorn enterprises in Shenzhen, an increase of 6 from the previous year, with a net growth rate of 16%, the highest in the country in terms of net increase. There are 13 new unicorn enterprises with a total estimated valuation of nearly 1.2 trillion yuan. Since 2024, the Shenzhen Small and Medium-sized Enterprises Service Bureau has established the Shenzhen Gazelle and Unicorn Enterprise Evaluation Committee and has selected and built the Shenzhen Gazelle and Unicorn Enterprise Gradient Library. There are 149 potential unicorn enterprises in Shenzhen with a total estimated valuation of around 350 billion yuan, including 143 seed unicorn enterprises with a total estimated valuation of about 64.3 billion yuan, and 215 gazelle enterprises with a total revenue scale of about 120 billion yuan in 2023. 36% of the companies on the list received support from the Shenzhen government's guidance fund. Shenzhen state-owned enterprises such as Shenzhen Capital Investment and Shenzhen High-Tech Investment have collectively invested in over a hundred companies on the list. Among private and foreign investment institutions, prominent names on the list include cornerstone capital, Dongfang Fuhai, and Sequoia Capital.