Wintech Nano becomes the 700th listed company from Jiangsu Province. (Photo provided to Xinhua Daily)

On March 25, Wintech Nano, a Suzhou-based laboratory specializing in semiconductor chip analysis and testing, was listed on the Shanghai Stock Exchange STAR Market, a Nasdaq-style Science and Technology Innovation Board. This addition brings the total number of listed companies in Jiangsu Province to 700, a significant milestone.

These 700 companies from the coastal province represent 13% of the total number of companies listed on the Chinese domestic stock market and 7% of the total market value. Among Jiangsu’s cities, Suzhou, Nanjing, Wuxi, Changzhou, and Nantong are the top five in terms of listed companies.

Notably, the economic powerhouse has 549 listed manufacturing companies, accounting for nearly 80% of the province’s total listings. Jiangsu also leads in the companies of emerging industries, with nearly 17% of the national total, ranking second in the country.

Private enterprises continue to be primary drivers of Jiangsu's public listings, comprising over 70%. In 2024, 15 out 16 newly listed companies were from the private sector.

In the first half of 2024, the total R&D expenses of these listed companies reached 58.6 billion yuan. Excluding firms that did not disclose R&D data, the average R&D spending per company over six months was 88 million yuan. Companies listed on the STAR Market invested nearly 30% of their revenues in R&D.

Jiangsu's companies are also ready to share their development achievements. From the beginning of 2024 to the end of February, the province’s 648 listed companies distributed cash dividends of 132 billion yuan. Both the number of companies distributing dividends and the total amount ranked second nationwide.