The Gaowei Research Institute recently released the Development Report of Zhongshan Listed Companies. According to their research, in 2020, the investments in R&D of 21 A-share listed companies in Zhongshan totaled 3.444 billion yuan, 21.95% more than in 2019.

The ratio of total R&D investment to total revenue of these 21 A-share listed companies was 3.69%. Generally speaking, investment in research and development was rather low among Zhongshan's listed companies.

However, for individual companies, there were 10 listed companies that invested more than 100 million yuan in R&D last year. Among them, MLS invested the most, with a total R&D expenditure of 741 million yuan, accounting for 21.52% of the total R&D expenditure of all listed companies in Zhongshan. Ming Yang Smart Energy recorded the fasted growth rate, with R&D investment exceeding 600 million yuan, doubling that of a year earlier.