Fascinating story of little giants, unicorns, decacorns and hectocorns

When I first interviewed top executives of XGIMI, an intelligent projector manufacturer, in 2019, I was kind of surprised to learn the small startup topped China's projector market rankings by consultancy International Data Corp.

2019年，我第一次采访极米（一家智能投影 仪制造商）的高管，当我得知这家小型初创公司 在咨询公司国际数据公司（International Data Corp）发布的中国投影仪市场排名中名列前茅时，我感到有些惊讶。

projector                    投影仪

startup                      初创公司     

But Zhong Bo, CEO of XGIMI, said the company is not only eyeing the position of China's largest projector player but aims to become "the largest intelligent projector firm worldwide".

但极米的CEO钟波表示，极米不仅在盯着中国智能投影仪行业的“头把交椅”，更是志在成为“全球最大的智能投影仪公司”。

The Chengdu, Sichuan province-based company achieved spectacular growth in foreign markets in 2020, with its overseas revenue increasing more than 300 percent year-on-year. In March 2021, the startup was successfully listed on the Shanghai Stock Exchange.

极米的总部位于四川省成都市。2020年，极米在海外市场实现了惊人的增长，其海外收入同比增长超过300%。2021年3月，极米在上海证券交易所成功上市。

spectacular             adj.壮观的；惊人的，突如其来的        n.壮观场面，盛大演出

XGIMI perhaps epitomizes China's "little giant" companies, or innovative small and medium-sized enterprises that specialize in niche sectors, command a high market share, boast strong innovation capacity and core technologies and, more importantly, are likely to become future champions in bottleneck sectors.

极米或许是中国“小巨人”企业的缩影。“小巨人”企业就是指这样一些创新型中小企业：它们专注于小众细分市场、市场占有率高、创新能力强、核心技术强；更重要的是，在未来它们有望成为我国“卡脖子 ”的行业中的冠军企业。

epitomize                        v.成为……的典范，作为……的缩影

bottleneck                         n.瓶颈；障碍物

During this year's two sessions, the Government Work Report for the first time included goals of cultivating more "little giant" companies.

今年两会期间，我国政府工作报告首次提出培育更多“小巨人”企业这一目标。

"For China, innovation capabilities and well-rounded supply chains have played an increasingly prominent role during its economic development. These 'little giant' companies, which are able to fill in certain weak niches in the country, will help improve the industry and supply chains and enable China to become a manufacturing powerhouse," said Li Chao, chief economist of Zheshang Securities.

浙商证券首席经济学家李超表示：“对中国来说，企业创新能力和全面 完善的供应链在中国经济发展中发挥着越来越重要 的作用。这些能够填补国内某些薄弱细分市场的‘小巨人’公司将有助于稳固产业链和供应链，让中国成为制造业强国。”

well-rounded                        adj.全面的

prominent                        adj.重要的；出名的；显赫的

manufacturing powerhouse                             制造业强国

To date, the country has 4,762 national-level "little giant" companies and over 40,000 provincial-level such firms. More than 300 "little giant" firms like XGIMI are already listed on various bourses.

迄今为止，我国拥有国家级“小巨人”企业4762家，省级“小巨人”企业4万多家。300多家像极米这样的“小巨人”企业已经在各大交易所 上市。

bourse                         n.交易所

to date                         至今，迄今为止

A report from CITIC Securities found that listed "little giant" companies have outperformed other types of firms in terms of revenue growth and potential profitability. The former will likely become the future hidden champions like those in Germany and might even go on to make big contributions to the nation's manufacturing sector.

中信证券的一份报告发现，上市的“小巨人”企业在收入增长和盈利潜力方面均优于 其他类型的公司。前者很可能会像德国的一些企业一样，成为行业未来的“隐形冠军”，甚至可能进一步为国家制造业作出巨大贡献。

outperforme                         v.胜过，做得比……好

By 2025, China aims to grow 10,000 "little giant" companies and 1,000 single-product champion enterprises. By that time, there will be 10,000 XGIMI-like companies contributing to innovations and the impetus to China's future economic growth.

到2025年，中国的目标是培育出1万家“小巨人”企业和1000家单一产品冠军企业。届时，将有1万家像极米一样的企业大力创新，为中国未来的经济增长贡献力量。

by that time                        届时

impetus                       n.动力，促进；动量，冲力

Just a few days ago, I interviewed the founder of a two-year-old startup that focuses on the industrial internet. He sought anonymity but said he quit his job in Germany and decided to start up a business in his homeland China.

就在几天前，我采访了一位初创公司的创始人。这家公司成立仅两年，专注于工业互联网业务。这位创始人不愿意透露姓名，但表示他之前是辞去了德国的工作，决定回国创业。

seek anonymity                        寻求匿名

He said he believes China will be home to the world's largest number of "decacorns" and even "hectocorns" over the next few years.

他表示，他相信未来几年 中国将成为世界上拥有最多“十角兽”甚至“百角兽”的国家。

over the next few years                    未来几年

While a unicorn is a startup with a valuation of $1 billion or more, a decacorn commands a valuation of more than $10 billion, and a hectocorn is valued at more than $100 billion.

“独角兽”企业是指估值超过10亿美元的初创公司，而“十角兽”企业的估值则超过100亿美元，“百角兽”企业的估值更是超过1000亿美元。

be valued at ...                        被估值为……