Shandong province has secured 13 spots on the Hurun Global Unicorn Index 2026, up three from last year, ranking sixth nationwide among China's 381 unicorns. Notably, the province alone outnumbers Japan's total of nine — a striking feat, according to Hurun Group Chairman and Chief Researcher Rupert Hoogewerf.

Qingdao dominates with eight unicorns, including Goertek Microelectronics Co Ltd — Shandong's most valuable unicorn enterprise — New Link, TELD, and Haier-backed firms such as COSMOPlat, Haier Energy, and Ririshun.

"Most of Qingdao's unicorns are born from industry giants," Hoogewerf noted, highlighting Haier's pivotal role in spawning multiple unicorns through ecosystem synergy.

The province's unicorn landscape is turning increasingly "hard-tech". Three new entrants —  Haier Energy (energy storage), Ligent Technologies Inc (semiconductors), and Orienspace (commercial aerospace) — debuting this year underscore this shift.

Orienspace, which is headquartered in Yantai, made history with the world's largest solid rocket, Gravity 1, launched off Haiyang's coast. Currently, Orienspace is speeding up work on its Gravity 2 rocket in Shandong, aiming for its first flight this year to help build China's low-orbit satellite internet network.

Behind the rise is a maturing policy ecosystem. Since 2017, Shandong has cultivated 28 unicorns and over 3,020 provincial gazelle firms. Its 2026 government report pledges to add more than 300 unicorns, "little giant" firms, and champions. A new provincial regulation now offers year-round application channels for unicorn recognition.

With policy and market forces aligning, Shandong is accelerating its drive to become a powerhouse in China's next-generation industrial race.

Shandong province secures 13 spots on the Hurun Global Unicorn Index 2026, up three from last year. [Photo/WeChat account: opinionline]