Research on the Growth Mechanism of Unicorn Enterprises in Hebei Province from the Perspective of Dynamic Capabilities : A Case Study of Jingxi Zhixing, Junlebao, Tongguang Crystal, and Kuntian New Energy

基于动态能力视角的河北省独角兽企业成长机制研究—以京西智行、君乐宝、同光晶体和坤天新能源为例

This study explores the growth mechanism of unicorn enterprises in Hebei Province from the perspective of dynamic capabilities. At present, only four unicorn enterprises—Jingxi Zhixing, Junlebao, Tongguang Crystal, and Kuntian New Energy—have emerged in Hebei, serving as representative cases. Using a qualitative approach that combines case studies and textual analysis, this research identifies the dynamic capability characteristics demonstrated during their growth. The findings reveal that the growth of unicorn enterprises generally follows the logic of “sensing–seizing–reconfiguring.” Specifically, Jingxi Zhixing and Tongguang Crystal achieved breakthroughs through forward-looking technology perception and research transformation; Junlebao expanded its market position via industrial chain integration; and Kuntian New Energy sustained competitiveness through strategic reconfiguration and continuous innovation. Furthermore, the regional innovation environment and policy support play a significant moderating role in shaping enterprise growth. This study not only verifies the central role of dynamic capabilities in unicorn enterprise development but also provides practical implications for local governments and enterprise managers in policy design and strategic choice.

本研究以动态能力理论为视角，探讨河北省独角兽企业的成长机制。河北省目前仅有京西智行、君乐宝、同光晶体和坤天新能源四家独角兽企业，具有典型代表性。本文采用定性研究方法，通过案例分析与文本梳理，总结其在成长过程中的动态能力特征。研究发现，独角兽企业的成长普遍遵循“感知—捕捉—重构”的逻辑：京西智行与同光晶体依靠技术前瞻与成果转化实现突破；君乐宝通过产业链整合扩大规模；坤天新能源则依托战略重构保持竞争力。同时，区域创新环境与政策支持在企业成长中发挥重要调节作用。本研究不仅验证了动态能力在独角兽企业成长中的核心地位，也为地方政府政策制定和企业战略选择提供实践参考。