During the first half of 2026, the cumulative research and development (R&D) expenditures of 407 listed companies based in Shenzhen soared to 103.857 billion yuan, securing the city's position as the second-largest R&D investor, trailing only behind Beijing. Notably, 90 of these companies allocated over 10% of their revenues to R&D activities, 15 firms reported R&D spending surpassing 1 billion yuan, and 2 companies even exceeded the 10 billion yuan mark.
