中美两国独角兽的风险分析与对策

Risk analysis and countermeasures of “Unicorns” inChina and the United States

首先梳理了中美两国“独角兽”的最新发展情况,从行业特征、估值特征以及超级独角兽三个方面进行比较,揭示了中美两国独角兽企业的发展概貌以及各自特点;其次,选择了中美两国具有代表性的大疆创新(Da Jiang Innovations)、药明康德(WuXi AppTec)、治疗诊断(Theranos)、特斯拉(Tesla)四家独角兽进行了案例分析;最后,归纳总结了独角兽企业带来的风险,包含经营风险、财务风险、政策风险、信息风险、代理风险、估值风险、投资者风险以及监管风险。

Firstly,this paper sorts out the latest development of“Unicorns”between China and the United States,compares this from three aspects of industry characteristics,valuation characteristics and super unicorns,and reveals the overview of unicorn enterprises in China and the United States and their respective characteristics.Secondly,it chooses four Chinese and American representative Unicorns,Da Jiang Innovations,WuXi AppTec,Theranos and Tesla,as cases to be analyzed.Finally,it concludes the risks brought by unicorn enterprises,including operational risk,financial risk,policy risk,information risk agency risk,valuation risk,investor risk and regulatory risk.