Core Viewpoint - Jiangsu's capital market has entered a new era with over 700 listed companies, showcasing significant growth and a strong focus on high-quality development, particularly in "hard technology" sectors [2][5][14]. Group 1: Growth of Listed Companies - Jiangsu has officially surpassed 700 listed companies, with 113 on the Sci-Tech Innovation Board and 48 on the Beijing Stock Exchange, maintaining a leading position nationally [2][5]. - The number of listed companies in Jiangsu has accelerated, with 320 new listings since the pilot registration system was implemented, accounting for over 45% of the total [5][6]. - The distribution of listed companies is concentrated in cities like Suzhou, Nanjing, and Wuxi, with Suzhou leading at 220 companies, particularly in electronics, biomedicine, and high-end equipment manufacturing [5][6]. Group 2: Investment in R&D - Over 80% of newly listed companies in Jiangsu are allocating funds for R&D and technological upgrades, with an average annual R&D investment exceeding 200 million yuan per company on the Sci-Tech Innovation Board [3][14]. - The total R&D investment from Jiangsu's "Sci-Tech Army" exceeded 20 billion yuan in 2023, with notable contributions from companies like Trina Solar and Huazhong Microelectronics [14][15]. Group 3: Industry Focus and Innovation - Jiangsu's listed companies are primarily engaged in cutting-edge industries such as biomedicine, integrated circuits, new energy, and intelligent manufacturing [14][15]. - The establishment of innovation centers, such as the one led by XCMG Machinery, aims to enhance collaboration across the supply chain and drive technological advancements [10]. Group 4: International Expansion - Jiangsu's listed companies are increasingly pursuing international markets, with companies like Hengrui Medicine accelerating their global presence through new drug approvals and overseas listings [11][23]. - In 2024, 15 companies from Jiangsu successfully listed overseas, raising a total of 4.418 billion yuan, indicating a strong trend towards internationalization [23]. Group 5: Regulatory Support and Market Stability - The Jiangsu Securities Regulatory Bureau is actively promoting policies to enhance market stability and support listed companies in navigating challenges, including cash dividend policies and mergers and acquisitions [20][21][22]. - In 2024, Jiangsu's listed companies implemented cash dividends totaling 132 billion yuan, ranking second nationally, reflecting a commitment to shareholder returns [21].