瑞信银行（Credit Suisse）：2021中国独角兽投资策略分析报告（英文版）（239页）.pdf

1、Saddling up China Unicorns Asia Pacific/China, Equity Research, 26 October 2021 Research Analysts Edmond Huang, Kenneth Fong, Kyna Wong, Bin Wang, Yang Huang, Charles Zhou, Jasmine Wang, Lok Kan Chan, Timothy Chau, Jianping Chen, Shirley Chen, Clive Cheung, Kendrick Cheung, Daniel Cui, Sardonna Fong

2、, Scarlett Ge, Ivy Ji, Peter Li, Ivy Liu, Jason Liu, Yang Luo, Veronica Song, Sophia Tan, Chaolien Tseng, Summer Wang, Jesalyn Wong, Ashley Xu, Jessie Xu, Moxy Ying, Lincoln Yu, Jocelyn Zhang, Frank Zheng, Lauren Zuo DISCLOSURE APPENDIX AT THE BACK OF THIS REPORT CONTAINS IMPORTANT DISCLOSURES, ANAL

3、YST CERTIFICATIONS, LEGAL ENTITY DISCLOSURE AND THE STATUS OF NON-US ANALYSTS. U.S. Disclosure: Credit Suisse does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objec

4、tivity of this report. Investors should consider this report as only a single factor in making their investment decision. China Unicorns 3 Contents Focus charts 4 Saddling up 7 Chinas unicorns: Trends in 2021 11 New exchange, new listing rules to diversify funding channels for a broader range of com

5、panies 21 Key trends of major sectors 25 List of unicorns 61 1KMXC (YGL) . 62 Kuaikan . 148 56PingTai . 64 Leap Motors . 150 Aibee . 66 LinkSure Network . 152 AIWAYS . 68 Mafengwo . 154 Amber Group . 70 Maimai . 156 Arrail Dental . 72 Manner Coffee . 158 Baiwang . 74 Meicai . 160 Banma Network . 76

6、Meizu . 162 Beisen . 78 Mininglamp . 164 Biren Technology. 80 Mobvoi . 166 ByteDance . 82 Momenta . 168 Byton Auto. 84 Qingting FM . 170 Cao Cao . 86 Royole Corporation . 172 Chezhubang . 88 Shansong Express . 174 China Cloud . 90 SHEIN . 176 Dadi Cinema . 92 SmartMore . 178 DeepBlue . 94 S . 180 De