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During the first half of 2025, a comprehensive total of 4,946 A-share companies disclosed their research and development (R&D) investments, totaling RMB 745.687 billion, marking a 2.68% increase year-on-year. Amongst these firms, an impressive 1,150 companies invested over RMB 100 million in R&D, while 916 companies dedicated more than 10% of their revenues to R&D initiatives. More than half of these companies reported a year-on-year growth in their R&D investments, with 1,073 out of the 2,581 companies that experienced growth witnessing an increase of over 20%. Driven by relentless technological innovation, 'leading enterprises' across various industrial chains are steering the direction of industrial innovation, accelerating the transformation of R&D achievements, and fostering high-quality performance development.
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