Alibaba and OneConnect take the top positions in Blockchain Patents and file for IPO

BlockData released China Blockchain Patents Report and the Comprehensive Strength list of China's Blockchain Patents. Alibaba ranked first in the list, while OneConnect and China Unicom took second and third place, respectively. In an accompanying ranking by strength of blockchain patents specifically in the fintech field, OneConnect topped the list, followed by Ping An Technology, Hangzhou Fuzamei Technology, Launch Tech, Baidu, Tencent Technology and WeBank. In order to comprehensively demonstrate the strength of all companies having obtained blockchain patents, the list is based on an analysis that takes into consideration five factors: the number of patent applications, the number of patents granted, the scope of patent protection, the location in the patent family and the application for the patent.

Just prior to the launch of the list, the top two performers, Alibaba and OneConnect, had issued IPO prospectuses in Hong Kong and the United States and were receiving substantial attention from capital markets.

Alibaba submitted a preliminary prospectus that appeared on the website of the Stock Exchange of Hong Kong (SEHK), announcing a plan to issue 500 million new ordinary shares worldwide and list on the main board of the exchange. If Alibaba successfully launches an IPO in Hong Kong, it will be the largest-ever such transaction in the Hong Kong market. Alibaba will also be the first Chinese Internet company to be listed in both Hong Kong and New York. Based on Alibaba's prospectus, as of June 30, 2019, the company held 6,175 authorized patents and 13,336 publicly filed patent applications in China. Elsewhere, the company held 3,112 authorized patents and 9,742 publicly filed patent applications.

On November 13, OneConnect formally applied for an IPO with the U.S. Securities and Exchange Commission (SEC). According to the prospectus, as of the end of September 2019, the company has applied for 2,850 domestic patents and 542 foreign patents. OneConnect topped the list in the accompanying ranking by strength of blockchain patents specifically in the fintech field released by BlockData. OneConnect's blockchain solution FiMAX has been implemented in the Chinese government's super vehicle management office as well as in solutions for supply chain finance, trade finance, small and medium-sized enterprise loans, intelligent environmental protection, mortgages, drug traceability and electronic medical records spanning five key sectors: finance, smart city, real estate, automotive and healthcare.