Unicorn companies are a hallmark of world-class entrepreneurial ecosystems. The more unicorns a region has, the stronger its innovation capabilities and the more robust its entrepreneurial environment. In June 2025, the Hurun Research Institute released the *2025 Global Unicorn List*, featuring five companies from Hebei Province—one more than the previous year. These unicorns are privately held companies founded after 2000, each valued at over $1 billion.

What has driven Hebei’s steady growth in unicorn companies? How has the business environment fueled their development? Recently, three of these unicorns—Junlebao Dairy Group Co., Ltd., Shougang Zhixin Electromagnetic Materials (Qian’an) Co., Ltd., and Jingxi Zhixing Zhangjiakou Automotive Electronics Co., Ltd. (now renamed Zhangjiakou Jingxi Zhixing Technology Group Co., Ltd.)—were examined to uncover the secrets behind their success.

**Junlebao Dairy: A Modernized Dairy Giant** On October 31, employees at Junlebao Dairy Group were hard at work in their production facility. A visit to the company’s Scientific Nutrition Research Institute in Shijiazhuang’s Luquan District revealed a hub of innovation. Dr. Xun Yiping, head of the Breast Milk and Nutrition Research Department, leads a team developing personalized infant formula products. In May, the team unveiled the world’s first "Brain-Body Dual Excellence" research model, which integrates bioactive immunoglobulin IgG and high-absorption sn-2 DHA to enhance infant nutrition and immune protection.

Junlebao has invested 500 million yuan in its research institute, securing 414 patents, 16 provincial-level awards, and six international accolades. The company dominates China’s dairy market, leading in low-temperature yogurt, fresh milk, and premium infant formula. Government support, including tax incentives and streamlined approvals, has been crucial. In the first three quarters of 2025, Junlebao received approximately 60 million yuan in tax rebates and R&D deductions, easing cash flow pressures and enabling expansion.

The company’s smart factories, equipped with AI, blockchain, and 5G, exemplify its commitment to innovation. Recently, Junlebao’s digital transformation project was approved as a national-level initiative, further solidifying its leadership in dairy manufacturing.

**Shougang Zhixin: Electromagnetic Materials Pioneer** On November 7, Shougang Zhixin’s high-performance oriented electromagnetic materials project was fast-tracked for approvals in Qian’an Economic Development Zone. The company, a leader in high-end silicon steel, has launched 16 globally pioneering products.

In 2020, Shougang Zhixin faced challenges in navigating complex approval processes for its new energy vehicle (NEV) electrical steel project. The Qian’an government stepped in, cutting approval times by 20% and even assisting with provincial-level procedures. Post-construction, the company received 915 million yuan in tax breaks and subsidies, boosting innovation.

Qian’an’s proactive approach extends to market expansion. Officials have accompanied Shougang Zhixin on business trips to secure orders and attract suppliers to a new electromagnetic industrial park. The company now focuses on advancing soft magnetic materials for NEVs and humanoid robots.

**Jingxi Zhixing: Accelerating Smart Mobility** At the 2025 Shenzhen International Intelligent Connected Vehicle Expo, Jingxi Zhixing showcased its groundbreaking ball-disc electronic mechanical braking system. The company, a leader in smart chassis and suspension systems, has integrated Hebei’s auto parts industry into global supply chains.

Its Zhangjiakou factory, spanning 30,000 square meters, was completed in just nine months—a testament to local government efficiency. The facility produces advanced shock absorbers, including the world’s first fully active hydraulic system, which responds in just one millisecond.

To meet labor demands, the Nanshan Auto Industrial Base partnered with vocational schools and established a talent pool of 2,000 workers. The base also built dormitories to house employees.

With nine global production sites and clients like Mercedes-Benz and BMW, Jingxi Zhixing is elevating Hebei’s role in the automotive sector. The company plans to introduce fourth-generation magnetorheological shock absorbers, further advancing smart mobility.

As these unicorns thrive, Hebei’s business environment continues to foster innovation, positioning the province for greater industrial achievements in the 15th Five-Year Plan period.