Weihai hi-tech park drives growth of innovative SMEs

Weihai Torch Hi-tech Science Park has strengthened its innovation ecosystem, with 17 companies newly recognized as provincial-level specialized and sophisticated small and medium-sized enterprises (SMEs). Another 23 firms passed re-evaluation, bringing the park's total to 139.

These firms are recognized for their strong specialization, refined operations, unique expertise, and capacity for innovation. They play a vital role in reinforcing industrial and supply value chains while fueling regional economic growth.

The 40 newly recognized or re-certified enterprises generated 5 billion yuan ($701 million) in 2025, a 2.9 percent year-on-year increase. On average, they invested 7.6 percent of their revenue in R&D, held seven invention patents, and 92 percent owned independent brands, underscoring their innovation and competitiveness.

Innovative SMEs in Weihai Torch Hi-tech Science Park are driving regional growth through advanced R&D and specialized expertise. [Photo provided to chinadaily.com.cn]

Weihai Torch Hi-tech Science Park has been instrumental in this progress, advancing a tiered cultivation system that guides firms from startups to provincial leaders and ultimately to national "little giants". With its tailored "one company, one policy" approach, the park provides customized strategies and continuous support, helping enterprises scale innovations and sharpen core strengths — further cementing the park's role as a hub of innovation in Shandong province.  (Edited by Hu Kaili)