Leading Shenzhen Enterprises Continue to Drive Key Fields, Demonstrating China's Industrial Core Strength

Securities Daily Reporter Tian Peng

From energy breakthroughs deep within the Hualong One nuclear island in the Greater Bay Area, to technological leaps in the aviation intelligent manufacturing workshops of the Land of Abundance, and to the industrial layout of global port equipment clusters, leading companies on the Shenzhen Stock Exchange (hereinafter referred to as “Shenzhen Market”) are continuously making breakthroughs in key sectors such as nuclear energy new energy, aerospace equipment, and high-end manufacturing. With industry-leading R&D capabilities, strategic focus on core fields, and the strong development momentum enabled by the capital market, they are committed to forging national heavy-duty equipment and demonstrating industrial strength through solid achievements.

The 2026 Government Work Report proposed implementing a new round of high-quality development actions for key manufacturing industry chains, strengthening industrial base reconstruction and major technical equipment breakthroughs, and creating a number of national advanced manufacturing clusters. This important deployment further boosts confidence in the development of high-end manufacturing and related core industries.

Looking ahead, core leading companies on the Shenzhen Market stated they will rely on ongoing policy support and long-term capital market empowerment, continue to deepen key areas, increase efforts in technological breakthroughs and industrial chain upgrades, and strengthen the foundation of industrial independence and control. They aim to further solidify China’s asset stability and safety margins, and comprehensively enhance China’s assets’ resilience in global markets and long-term investment value.

Technical Breakthroughs

Innovative Forging of National Heavy-Duty Equipment

Core technologies are the soul of national heavy-duty equipment and the key to ensuring the independence and control of industrial and supply chains, as well as safeguarding national industrial security. Industry leaders such as China General Nuclear Power Corporation (CGN), AVIC Chengfei Aircraft Corporation (AVIC Chengfei), and China International Marine Containers Group (CIMC) have always prioritized technological innovation in their development strategies. They have achieved a series of breakthroughs that break foreign monopolies and reach international advanced levels, continuously enhancing the “Made in China” brand.

For example, CGN has successfully developed the third-generation nuclear power technology “Hualong One” with independent intellectual property rights after years of research. This technology meets the highest global safety standards, has passed the UK Generic Design Assessment (GDA) and European Utility Requirements (EUR) certification, and is the most widely operated and under-construction nuclear technology worldwide.

A CGN official told Securities Daily that by the end of 2025, 18 of the company’s under-construction nuclear units are “Hualong One” units, with steady progress in mass production. The Fangchenggang 3 and 4 units of the demonstration project were fully commissioned in 2025. Currently, Huizhou Unit 1 and Cangnan Unit 1 have completed their first grid connection and are undergoing other debugging work.

AVIC Chengfei also remains committed to technological independence and self-reliance, focusing on core areas of aerospace equipment manufacturing. Through institutional innovation, such as the “Hundred Regiments Battle” R&D mechanism and the “Angel Investor” innovation model, it has been recognized as a benchmark enterprise for state-owned enterprise reform by the State-owned Assets Supervision and Administration Commission (SASAC). Its innovative approaches have been included as typical micro-cases in the deepening reform of state-owned enterprises, setting a model for technological innovation in state-owned enterprises.

CIMC has been dedicated to high-end equipment manufacturing for over 40 years, developing multiple core technological capabilities, including steel structure design and manufacturing for mechanical equipment, temperature and pressure control technology for cryogenic and high-pressure vessels, and core capabilities in deep-sea equipment.

Data shows that by June 2025, CIMC had won 2 National Science and Technology Progress Awards, 52 provincial and ministerial-level science and technology awards, maintained 6,331 valid patents, received 21 China Patent Awards, and owned over 30 industry-leading flagship products, 9 manufacturing industry champions from the Ministry of Industry and Information Technology, and 17 “Little Giant” enterprises recognized at the national level.

From leading autonomous technology in nuclear power, to breakthroughs in aerospace manufacturing, and to global expansion in high-end equipment, these three Shenzhen-listed giants focus on tackling core technological challenges. Their tangible R&D achievements and industrial breakthroughs serve to fulfill the mission of strengthening the real economy, breaking foreign technological monopolies, and fortifying industrial security.

Building an Innovation Support System

Empowering Sustainable Development

In fact, continuous breakthroughs in core technologies and the long-term forging of national heavy-duty equipment are never accidental results of isolated efforts. They depend on a comprehensive innovation system, sustained R&D investment, flexible institutional mechanisms, and capital market support. Facing increasingly fierce global competition in high-end manufacturing and the accelerated iteration of key core technologies, these companies do not stop at achieving phased technological results. Instead, they continue to deepen innovation ecosystems, building multi-layered, long-term support systems to ensure ongoing innovation vitality.

For example, CGN has established a complete R&D system, including one national engineering technology research center, one national key laboratory, five national energy R&D platforms, and several industry-leading large laboratories, providing strong support for fuel assembly development and nuclear power equipment R&D.

Similarly, AVIC Chengfei has built a multi-level technological innovation platform system, coordinating efforts across national, provincial, and enterprise levels to integrate innovation resources and improve R&D efficiency.

AVIC Chengfei also leads the creation of the National High-end Aerospace Equipment Technology Innovation Center, bringing together resources from Tsinghua University, Sichuan University, the University of Electronic Science and Technology of China, and large state-owned enterprises. The center focuses on key core technologies such as stealth technology for high-end aerospace equipment, extreme performance manufacturing, and intelligent testing, aiming to produce a series of high-end aerospace products, generate high-level technological achievements, and build a high-end equipment technology innovation industrial cluster.

CIMC has established a four-tier R&D organizational structure, including the group, business units, sub-units, and collaborative enterprises. It has built an open innovation system characterized by “unified planning, distributed R&D, and distributed manufacturing,” forming a unique “small team, large platform” scientific research mechanism.

The company boasts extensive innovation platform resources, including three national enterprise technology centers/sub-centers/industrial design centers, two national R&D centers/national engineering laboratories, five CNAS-certified laboratories, six postdoctoral research stations, eight national intellectual property demonstration enterprises, two national intellectual property advantage enterprises, over 60 high-tech enterprises, and more than 60 provincial and ministerial-level enterprise technology centers/research institutes.

This systematic yet flexible innovation layout not only enhances the companies’ confidence in overcoming “bottleneck” problems but also ensures the long-term release of innovation vitality. It enables these enterprises to grow into models of innovation-driven industrial strength and to support the iteration and upgrading of national heavy-duty equipment. Moreover, it provides valuable references for high-quality development in high-end manufacturing industries.

Steady Operations and Building a Secure Foundation

Showcasing the Resilience of Chinese Assets

In the context of a complex and volatile global economic landscape and intensified capital market fluctuations, these leading enterprises rooted in the field of national heavy-duty equipment rely on long-term stable operations, solid industry leadership, full industrial chain independence, and sustainable profitability and returns. They have become the core carriers of China’s asset safety, stability, and long-term value, using their real economy foundation and solid strength to reinforce safety margins and enhance risk resistance.

For example, CGN, with its scaled and standardized operational management, has established a solid foundation for stable operation, representing the resilience of Chinese assets in the energy sector. By the end of 2025, the company managed 28 operational nuclear units and 20 under-construction units (including four managed on behalf of the controlling shareholder), with a total installed capacity of 31,796 MW and 24,222 MW respectively, accounting for 44.46% of the total national capacity of operational and under-construction nuclear units. Its operational scale exhibits strong cyclical resilience. AVIC Chengfei, with its full-chain R&D and manufacturing capabilities, is a core benchmark in China’s defense aerospace assets, with asset security assured by both national strategic needs and industrial independence.

CIMC, with its balanced global layout, leading core equipment across categories, and continuous technological iteration, exemplifies the risk resistance of Chinese assets in high-end manufacturing. Its global operations span nearly 20 countries and regions, with over 30 overseas subsidiaries and more than 4,800 overseas employees. The company maintains a balanced revenue ratio of about 50% domestic and international, leveraging its global footprint and leading industry position to sustain growth in scale and profitability.

These Shenzhen-based national heavy-duty equipment manufacturing enterprises, through solid technological breakthroughs, comprehensive innovation support, and stable operations, are steadily strengthening their industrial independence and control. They continue to deepen their core sectors, diligently develop the real economy, and under the dual empowerment of policies and capital markets, keep contributing to the high-quality development of China’s advanced manufacturing industry.