33 Unprofitable Enterprises in STAR Market Growth Tier Narrow Losses with Revenue Growth in First Three Quarters, with Median R&D Intensity Exceeding 44%

Huang Yiling

Data released by the Shanghai Stock Exchange (SSE) on October 31 shows that except for 4 dual-listed red-chip companies such as SMIC (Semiconductor Manufacturing International Corporation) which are expected to disclose their third-quarter reports in November, the remaining 588 STAR Market-listed companies achieved a total operating revenue of RMB 1.01 trillion in the first three quarters, a year-on-year increase of 6.6%, maintaining consecutive growth since the market's launch.

Among them, unprofitable enterprises in the STAR Market Growth Tier showed a strong development momentum. While driving revenue growth and narrowing losses, the 33 companies that have disclosed their third-quarter reports continued to increase R&D investment. In the first three quarters, their operating revenue rose by 35.1% year-on-year, net profit losses narrowed by 45.4% year-on-year, and the median R&D intensity reached 44.3%.