On January 26, the Hurun Research Institute released the 2025 Hurun Future Unicorns: China Cheetah Enterprises List. The list identifies high-growth companies founded after 2000 that are most likely to reach unicorn status with a valuation of US$1 billion within five years (i.e., by the end of 2030). Four companies from Xiamen were named to the list, ranking the city 9th among all cities represented. The listed companies are Homeking, EPICMEMS, LP Pharma, and Super Panther. The Hurun Research Institute identified 304 Cheetah Enterprises in China, which are located across 39 cities. Companies from five sectors—biotechnology, health technology, enterprise services, semiconductors, and artificial intelligence—collectively account for over 60% of the list. Founded in 2010 and headquartered in Xiamen's Jimei District, Homeking is a home services company operating on an online-to-offline (O2O) model. EPICMEMS is an emerging local chip company focused on radio frequency front-end solutions. LP Pharma is an innovative biopharmaceutical company driven by proprietary research, development, and industrialization, with its headquarters located in Xiamen's Haicang District. Super Panther is a high-tech enterprise specializing in the research, development, and manufacturing of new energy heavy-duty trucks. The company is headquartered in Xiamen's Jimei District.
