Ningbo listed companies invest heavily in R&D in H1

The combined R&D spending of listed companies in Ningbo, East China's Zhejiang province totaled 7.74 billion yuan ($1.19 billion) in the first half of this year, up 13.9 percent year-on-year, data from Eastmoney Choice show.

Of the 110 listed companies in Ningbo, 71 saw their R&D spending surpass 20 million yuan, and 19 had R&D investments exceeding 100 million yuan.

Sixty-eight companies, or 62 percent of the city's total, reported a positive growth in R&D spending from January to June, while 12 saw a year-on-year growth of more than 50 percent.

These enterprises are mainly from the automobile parts, batteries, photovoltaic, chemicals and optical optoelectronics industries.

Joyson Electronics topped the city in terms of R&D spending with investments totaling 1.06 billion yuan during the six-month period. It was also ranked fourth in Zhejiang in this regard, only behind Hikvision (4.68 billion yuan), Rongsheng Petrochemical (2.01 billion yuan) and Dahua Technology (1.56 billion yuan).

Currently, Joyson Electronics has set up core R&D centers and production bases in major automobile production countries around the world, and has established cooperation relationships with customers such as Tesla, BMW, Volkswagen, Mercedes-Benz, Ford and GM.

In the first of the year, the company's overseas revenue reached 17.49 billion yuan, accounting for more than 75 percent of its total revenue.

The company has received orders totaling about 65 billion yuan this year so far, more than the total sum for last year. Orders for new energy vehicles have exceeded 37 billion yuan, accounting for nearly 60 percent.