Core Viewpoint - Shenzhen is emerging as a hub for technological innovation, with major companies like Huawei, BYD, Tencent, and Ping An leading the way, collectively referred to as the "Four Sisters" of Shenzhen innovation [1][4]. Group 1: Market Capitalization and Revenue - The market capitalization of Shenzhen's "Four Sisters" exceeds 1 trillion yuan, with Tencent being the largest at approximately 4.75 trillion HKD [4]. - As of May 20, 2024, Tencent, BYD, and Ping An had market capitalizations of 4.75 trillion HKD, 1.35 trillion HKD, and 0.97 trillion HKD respectively, with Ping An's revenue surpassing 1 trillion yuan [4][6]. - In 2024, the revenue of these companies exceeded 600 billion yuan, with Ping An reporting the highest revenue of 1.03 trillion yuan [5][6]. Group 2: Brand Value and Performance - According to the 2025 Kantar BrandZ report, Apple, Google, and Microsoft ranked as the top three most valuable global brands, while Tencent, Huawei, and Ping An ranked 11th, 39th, and 84th respectively [5]. - In 2024, Tencent's revenue was 6603 million yuan, marking an 8% increase, while its net profit surged by 68% to 1940.73 million yuan [6][8]. - BYD's revenue reached 7771.02 million yuan in 2024, a year-on-year increase of 29.02%, with a net profit of 402.54 million yuan [7]. Group 3: R&D Investment and Patent Performance - Shenzhen's "Four Sisters" lead in R&D investment and patent acquisition, with Huawei holding over 150,000 effective patents [10][11]. - In 2024, Huawei's R&D investment was 179.7 billion yuan, accounting for 20.8% of its revenue, while Tencent invested 70.69 billion yuan, representing 10.7% of its revenue [16]. - Ping An's R&D expenditure reached 18 billion yuan, constituting 1.76% of its revenue, with a total of 55,080 patent applications [12][16]. Group 4: Composite Innovation Ecosystem - The "Four Sisters" are building a composite innovation ecosystem that integrates industry and technology, which is crucial for upgrading traditional industries and developing future industries [17][21]. - Tencent has diversified from a social platform to a vast ecosystem encompassing gaming, fintech, and cloud computing, supported by strategic investments across various sectors [19]. - Ping An is transitioning from a traditional insurance company to a comprehensive financial and healthcare service group, leveraging AI technology to enhance its service offerings [21][22].