Credit Suisse is hosting a two-day conference in Beijing that started Monday to connect 25 emerging companies to top institutional investors from the region.
The first Credit Suisse Emerging Companies Conference held in Beijing will showcase 25 emerging companies ranging from Artificial Intelligence (AI), automotive technology, medical technology, to media, lifestyle, and hardware technology, the bank said in a media statement on Monday.
«It also serves as a platform to share intelligence and create meaningful connections with the regional investment and business community,» said Neil Hosie, Head of Equities Asia Pacific, Credit Suisse.
Getting Younger and Younger
«Emerging companies in China have achieved unprecedented growth and scale over the past two years. Unicorns are getting younger and growing faster. Of the 93 Chinese unicorns, nearly half of them reached the $1 billion valuation within two years,» said Vincent Chan, Head of China Equity Strategy Research, Credit Suisse.
China is the second-largest source of unicorns in the world, closing the gap with the U.S. Globally, there are 326 private start-ups with valuations exceeding $1 billion and an estimated total value of $1,080 billion, of which China contributes 29 percent of the companies and 30 percent of the total valuation.
Welcome to the Unicorn Club
Last year, 26 companies exited the unicorn club globally, through either public listing or acquisition, while 37 Chinese companies joined the club with an aggregate valuation of $484 billion, according to CB Insights.
Among the 26 companies, Chinese companies Meituan Dianping, Xiaomi and Pinduoduo, claimed the top three largest exits.
