Shanghai Stock Exchange Chairman Sha Yan: The percentage of listed companies on the Shenzhen Stock Exchange with R&D intensity exceeding 10% is 14%. BYD Ningde Times sets another record high.

On May 19th, the 2025 Global Investors Conference organized by the Shenzhen Stock Exchange was held in Shenzhen. During the conference, the Chairman of the Shenzhen Stock Exchange, Sha Yan, stated that in 2024, China's total social expenditure on research and development reached 3.6 trillion yuan, a year-on-year increase of 8.3%. More than 570 Chinese industrial enterprises were among the top 2500 in global research and development investment, accounting for nearly one-quarter. Taking Shenzhen as an example, 14% of companies have a research and development intensity exceeding 10%. For instance, BYD invested 54.2 billion yuan in research and development, surpassing its net profit for the same period; Ningde Times invested 18.6 billion yuan in research and development, reaching a new high. These companies value technological innovation, maintain continuous investment, and their market value has grown from hundreds of billions at the time of listing to trillions currently, bringing generous returns to investors.