WND reports strong growth in innovative SMEs

Wuxi New District. [Photo/WeChat account: xinwu_wx]

In the first half of 2024, Wuxi New District experienced a rapid increase in production scale among over 300 small and medium-sized enterprises classified as "specialized, refined, differential, and innovative" at the provincial level or higher. These companies generated a total sales revenue of 46.75 billion yuan ($6.54 billion), representing an 11 percent increase year-on-year.

National-level "Little Giant" enterprises in WND have been specializing in specific niche markets for an average of 13 years. Their top products account for more than 70 percent of their overall business revenue.

SRDI SMEs in WND are forming clusters with growing concentrations in sectors such as integrated circuits, high-end equipment, and automotive components.

One of these "Little Giants", Advanced Materials Technology & Engineering (AMTE), completed a Series D financing this year that totaled over 550 million yuan. By the end of 2024, it's anticipated to reach an order volume of 1.2 billion yuan. In 2019, AMTE shifted its focus from refurbishing imported semiconductor equipment to independent R&D. Its in-house designed etching machines stand out by their compact size, high speed, uniformity, and low operational costs.

In 2023, AMTE was recognized as a "Little Giant" enterprise at the national level. The company's self-developed products accounted for more than 90 percent of its revenue and led the market in China.