Half of the top ten unicorns in the Greater Bay Area are in small towns
2024-06-04
Following the Xijiang Bridge from the main urban area of Duanzhou in Zhaoqing, it takes less than 10 minutes by car to drive south to Gaoyao Xinqiao Town. Recently, this small town has gained global attention. Just because less than 3 kilometers away from the center of the town, there stands a unicorn enterprise named Jinsheng Xinneng. It was founded in 2010, valued at 12 billion yuan, and ranks 680th globally. This makes the unicorn output index in Zhaoqing rare, surpassing many cities in the Pearl River Delta such as Foshan, Huizhou, Zhongshan, and Jiangmen. While paying attention to Jinsheng Xinneng, the unicorn statues in the small town have surfaced. According to statistics, there are 10 unicorn companies headquartered in the Guangdong Hong Kong Macao Greater Bay Area, including SHEIN, GAC Aion, OPPO, vivo, etc., with a total valuation approaching trillions of yuan. And the number of 10 unicorn companies globally can surpass Japan (with 9 unicorns), ranking 12th in the world. The town of Unicorn seizes the industrial trend. Xinqiao Town is located in the southwest of Gaoyao, with an administrative area of 34.51 square kilometers. Its area is slightly larger than Yuexiu District in Guangzhou, with a population density of 1151 people/square kilometer, making it one of the towns in Zhaoqing with a higher population density. A statistical introduction of Xinqiao Town shows that in 2019, there were 70 industrial enterprises and 13 enterprises above designated size in Xinqiao Town. This ordinary small town, with Jinsheng Xinneng on the global unicorn list, has entered the global capital vision. According to the 2024 Unicorn List, most unicorn companies are located in major cities in China and the United States. Among them, San Francisco, New York, and Beijing ranked among the top three in terms of the number of unicorn companies, with 190, 133, and 78 respectively. They represent the first echelon cultivated by the unicorn company. In the list of the top 10 cities with the highest number of unicorn companies in China, the only ones with GDP trillion level are cities, most of which have special identities such as capitals, municipalities directly under the central government, and provincial capitals. Compared to the above cities, Zhaoqing is classified as "other" city. But Jin Shengxin was able to find his own growth path. According to Xu Youbin, Secretary of the Board of Directors of Jinsheng New Energy, the new energy vehicle market in China has experienced a 10-year explosive period and is now facing a wave of power battery retirement. Retirement does not mean scrapping. First, cascading utilization, and then recycling is our way of gold mining. From 2005 to 2024, this non-ferrous metal smelting company has been deeply cultivating a two-story factory in the town, seizing the two major industrial trends of new energy and new energy storage. By dismantling retired batteries and fully recovering metal elements such as lithium, cobalt, and nickel from batteries for reuse in battery production, Jinsheng Xinneng has opened the door to the unicorn list. According to the 2022 China Lithium Battery Recycling Market Analysis Report released by the Lithium Battery Research Institute of Gaogong Industry and Research, Jinsheng New Energy ranks second in China in terms of processing scale, first among third-party independent recycling enterprises, and also in a leading position globally. Its products have smoothly entered the supply chain of mainstream manufacturers such as LG Chemical, CATL, Huayou Cobalt, and Zhongwei Shares. The emergence of unicorn companies in ordinary prefecture level cities is not an exception. From the distribution of unicorn companies nationwide, it has become a trend for third - and fourth tier cities to produce more and more unicorns, such as Del Technology in Shanghang County, Longyan, Fujian and Yuze New Energy in Chuxiong, Yunnan. According to a report released by Hurun Research Institute, there were only 5 unicorns in third - and fourth tier cities in China in 2022, with a total market value of 121.2 billion yuan; In 2023, the number of unicorns in third - and fourth tier cities increased to 9, with a total market value of 152.8 billion yuan; In 2024, the number of unicorns in third - and fourth tier cities further increased to 15, with a total market value of 223.7 billion yuan. This year, there are 6 new unicorn companies from third - and fourth tier cities, mostly in the fields of new energy and new materials. For the small town unicorn, being on the list not only enhances its global reputation, but also means that the company has stepped onto a larger stage of development. Wu Zhaochun, an economics professor at the Guangzhou Municipal Party School, believes that there are a large number of young people with dreams gathered in the small towns of the Guangdong Hong Kong Macao Greater Bay Area. They are full of vitality and have ideas. Coupled with the favorable entrepreneurial environment in the Greater Bay Area, dream seeking youth can make a career in the small towns. Developing emerging industries in the Greater Bay Area has only been a short period of three years. In recent years, small towns in the Greater Bay Area have frequently hit the charts and have been in a state of "high energy" release. Recently, the Sichuan Economic Research Center of CCID Industry and Information Technology Research Institute (Group) Co., Ltd. released the "2024 Top 500 Town Economy" list, with a total of 98 established towns in Guangdong, accounting for 19.6%, an increase of 17 compared to 2023. Among the top 100, Guangdong holds 37 seats, exceeding one-third of the total. Not only is the quantity increasing, but the quality has also improved. Among the top 10 towns on the list, Guangdong Province has 7 towns on the list, which is 2 more than in 2023. These seven strong towns are Shishan Town in Nanhai, Foshan (2nd), Beijiao Town in Shunde, Foshan (3rd), Chang'an Town in Dongguan (4th), Dali Town in Nanhai, Foshan (6th), Lishui Town in Nanhai, Foshan (7th), Humen Town in Dongguan (9th), and Tangxia Town in Dongguan (10th). Among them, Dali and Tangxia are among the top 10 newcomers. The strong economic strength of the town is also reflected in the output of unicorns in the town. According to the 2024 Unicorn Company List, 10 unicorns have grown in 7 towns in the Guangdong Hong Kong Macao Greater Bay Area, SHEIN、OPPO、vivo、 Guangqi Aian and Xiaoma Zhixing, five small town companies, rank among the top ten unicorn valuation companies in the Greater Bay Area. The ones that support these 10 unicorns are Nancun Town, Shilou Town, Hengli Town, Dongchong Town, and Dagang Town in Guangzhou. Six unicorns were rushed out of 5 towns, three unicorns were rushed out of Chang'an Town in Dongguan, and one unicorn was rushed out of Xinqiao Town in Zhaoqing. According to the 2024 Unicorn List, the total valuation of these 10 small town unicorn companies is 980.6 billion yuan. The longest development period exceeds 14 years, and the shortest development period is only 3 years, involving emerging industries such as new energy vehicles, aerospace, consumer electronics, e-commerce, and modern agriculture. Wu Zhaochun believes that small towns are the source of innovation and vitality, and low-cost entrepreneurship first began in small towns. These 10 companies, although located in small towns, each possess exceptional skills and attract the attention of global capital. Xiaoma Zhixing, located in Hengli Town, Nansha, is one of the first autonomous driving technology companies to obtain unmanned testing qualifications in all four first tier cities in China. Guangzhou Automobile Aian, located in Shitou Town, Panyu, Guangzhou, is already the first tier of new energy vehicles in China. Established in September 2020 and later settled in Dongchong Town, Nansha, Juwan Technology Research has become a leader in the field of ultra fast charging batteries. Zhongke Aerospace, located in Dagang Town, Nansha, Guangzhou, is the first commercial aerospace enterprise in China to develop medium to large launch vehicles. Dongchong, a small town that usually doesn't show off its beauty, is also the birthplace of two unicorns. In addition to its abundant production of ultrafast rechargeable batteries, SMIC Seed Industry, headquartered in Dongchong Town, has taken the lead in establishing the largest lean meat pig germplasm resource library in China, and has established big data genetic evaluation technology with whole genome selection as the core, breaking foreign monopolies. Why they chose the small town unicorn in the Bay Area is a phenomenon worth paying attention to in the Greater Bay Area. Their emergence is closely related to the industrial layout, supply chain ecology, investment preferences of leading enterprises, and the location conditions of small towns in their respective cities. When it comes to the reasons for settling down, Li Qinfeng, Deputy General Manager of Zhongke Aerospace, said that the Nansha District is located in the geometric center of the Greater Bay Area, with convenient transportation and sea access, and abundant industrial land. It provides a very attractive platform and imaginative space for the future development of enterprises, expansion of production scale, and offshore launch. Jinsheng New Energy was able to break through the encirclement in the western part of the Greater Bay Area thanks to a group of enterprises such as Ruiqing Times, Xiaopeng Motors, Lishi Power, Lishi Battery, and Fenghua New Energy expanding their presence in Zhaoqing, providing a better industrial development environment and cooperation opportunities. Now, with the horn of developing new quality productivity sounding, these small town unicorns are shining brightly in their respective fields. According to the plan, the first flight mission of the Zhongke Aerospace Power Arrow 2 liquid carrier rocket will be carried out in 2025, and the whole process of in orbit assessment and verification will be carried out. Its first flight will also carry low orbit Internet constellation satellites. Backed by Guangzhou's energy industry, Juwan Technology Research is collaborating with Yihang to develop the world's first eVTOL aircraft ultra fast/ultra fast battery charging solution, empowering the low altitude economy. Jinsheng New Energy may become the third force following Xiaopeng Automobile and Ruiqing Era, attracting more upstream automobile dismantling enterprises and downstream lithium battery production enterprises to settle down, and creating a "Mos Ubi Ring" in Zhaoqing, from power battery production to vehicle manufacturing and battery recycling. Hu Run, Chairman and Chief Research Officer of Hurun Baifu, found that there are more unicorn enterprises incubated by large enterprises in the Greater Bay Area, with Guangzhou Aion, a new energy vehicle valued at 100 billion yuan, as the leader, indicating that the Greater Bay Area has formed a good and unique operating model and management system for incubating unicorn enterprises. It is worth noting that Jinsheng Xinneng is also one of the fifth batch of national specialized and innovative "little giant" enterprises. The development from a specialized and innovative "little giant" to a global unicorn indirectly indicates that the cultivation of specialized and innovative enterprises in the Guangdong Hong Kong Macao Greater Bay Area has made new breakthroughs. Unicorn enterprises, as a group of enterprises with strong innovation capabilities and enormous growth potential, are important indicators for measuring a country and region's innovation capabilities and innovation ecology, and are important business entities for enhancing international and regional competitiveness. Xie Baojian, a professor at the School of Economics of Jinan University and deputy director of the Hong Kong and Macao Economic Research Institute of the Special Economic Zone, said that with the development of digitization, intelligence, and information technology, the growth and expansion of enterprises have more space constraints, especially the limitations of central cities. The development of informatization and digital economy has provided necessary conditions for small town unicorns. Secondly, "the development of town economy has always been a major characteristic of the development of the Guangdong Hong Kong Macao Greater Bay Area." Xie Baojian believes that in the past, the economy of the Pearl River Delta relied heavily on professional towns and characteristic industrial clusters to support regional economic development. With the change of industrial ecology, chain owners and leading enterprises have played an increasingly important role in the development of town economy. Especially with the advancement of the construction of the Guangdong Hong Kong Macao Greater Bay Area, the urban-rural gap in the Pearl River Delta has narrowed, and the development environment of the town's economy, especially the infrastructure and business environment, has continuously improved. The flow of factors has become more convenient, providing favorable conditions for the cultivation, development and growth of unicorn enterprises. (Lai Xin She)
Edit：Lubaikang Responsible editor：Chenze
Source：Southern DAILY
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