In Shenzhen, how long does it take for a startup to enter the capital markets? The answer keeps getting shorter. To date, 121 companies in Shenzhen have gone public within 10 years of their founding—87 on the A-share market and 34 in Hong Kong. This list is more than just numbers; it paints a vivid picture of an "innovation ecosystem panorama" shaped by hardcore tech firms, showcasing Shenzhen's ability to nurture enterprises from "seedling" to "mighty tree" at "Shenzhen speed."
The rapid rise of these companies highlights a golden decade for growth. These firms, deeply embedded with Shenzhen's DNA of technological innovation, have become pioneers in emerging industries.
In high-end manufacturing and semiconductors, several companies tackle critical bottlenecks. Skyverse Technology (688361.SH), listed on the STAR Market in just eight years, specializes in high-end semiconductor quality control equipment, achieving globally leading breakthroughs in core technologies. Laplace (688726.SH), founded in 2016 and listed in eight years, excels in semiconductor device equipment, supplying key clients like BYD.
In smart hardware and cutting-edge tech, Shenzhen firms redefine global markets. Arashi Vision (688775.SH), the "world's first smart imaging stock," dominates the panoramic camera sector with a 67.2% global market share, surpassing rivals like Ricoh and Samsung. Orbbec (688322.SH), the "3D vision pioneer," holds over 70% of China's service robot vision market. Intellifusion (688343.SH), the "first AI stock of Shenzhen," excels in edge AI with its chip-integrated algorithms.
The green energy wave has also propelled Shenzhen firms to the forefront. Uugreenpower (301590.SZ), listed in June, specializes in EV fast-charging solutions, while BYD (1211.HK) leads China and the world in NEVs. These companies exemplify Shenzhen's shift toward high-tech, high-innovation, and globally competitive industries.
Behind this success lies a meticulously designed ecosystem. Since 2022, Shenzhen has implemented tailored support for startups, scale-ups, and IPO-bound firms, offering everything from incubators to financial backing. Government-guided funds have injected over ¥150 billion, catalyzing nearly ¥500 billion in capital and supporting 8,000+ projects, including 1,500+ specialized "little giants" and 600+ listed firms.
Shenzhen's R&D intensity hit 6.46% in 2024, with enterprises contributing 93.3% of total R&D spending—the highest nationwide. Startups here go public 1.05 years faster than the national average, while achieving "little giant" status 1.71 years quicker.
Today, Shenzhen hosts 25,000+ national high-tech firms—12 per square kilometer, the densest in China. In 2024, it added 296 "little giants" and 29 manufacturing champions, ranking first in growth and second in total count nationally. The 121 IPOs in a decade underscore Shenzhen's vibrant innovation ecosystem, where city and entrepreneurs thrive together, transforming "Shenzhen speed" into "Shenzhen quality" and beyond.
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