8 Huangpu enterprises among China's most valuable private firms

Eight enterprises of Guangzhou's Huangpu district entered the Hurun China 500 Most Valuable Private Companies 2020 list.

Hurun Research Institute, in association with real estate company Shimao Haixia, released the list on Nov 25. The market value of listed companies is calculated based on their closing price on Oct 15. The valuation of non-listed companies is estimated, with reference to listed companies from the same industry.

Affected by the COVID-19 pandemic, the big health sector has demonstrated an outstanding performance this year with the most Top 500 entries. Huangpu-based KingMed Diagnostics Group went up 139 places to the 199th spot, with a value of $7.9 billion, while Wondfo Biotech moved up 58 places to 385th, with a value of $4.5 billion yuan.

Wondfo Biotech.

E-vehicles, entertainment, and education were the three industries with the fastest growth this year. Xpeng Motors from Huangpu climbed 221 spots to 42nd as it value grew by a whopping 629 percent to $31.7 billion.

Ranked 161st, Shiyuan Electronic Technology cracked the list for the first time, with a value of $9.7 billion. Kingfa moved up 193 places to 250th, with a value of $6.6 billion.

In addition, Cedar Holdings dropped 215 places to 385th, with a value of $4.5 billion. Marubi Biotechnology dropped 142 places to 429th, with a value of $4.1 billion. Duoyi Network dropped 162 places to 449th, with a value of 3.9 billion yuan.

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