Qingdao's municipal enterprises have demonstrated enhanced support for economic stability and industrial transformation in the first half of this year, marked by several pioneering achievements. These include the world's first shipment of farm-raised salmon from large-scale vessels and the nation's first ABS business backed by data asset trust income rights. The restructuring of Qingdao Double Star led to a sevenfold surge in profits during the first half, highlighting the private sector's pivotal role as the city's economic ballast and transformation leader.
According to the Municipal State-owned Assets Supervision and Administration Commission, by the end of June, the added value, R&D expenditure, and paid taxes of municipal enterprises grew by 6.8%, 9.5%, and 7.2% year-on-year, respectively. A total of 57 key projects have been successfully initiated, accounting for 77% of the annual planned project starts, further intensifying the layout within the "10+1" innovative industrial system.
In the integrated circuit sector, the City Investment Group is accelerating the construction of specialized parks such as the Integrated Circuit Advanced Equipment Park and the Precision Manufacturing Park. These efforts are attracting upstream and downstream quality enterprises like Qingdao Yizhi Microelectronics Technology and Qingdao Yizhao Electronic Technology, enhancing semiconductor equipment and precision manufacturing support, and completing critical industry chain links. In the deep-sea sector, Conson Group has deployed three large-scale aquaculture vessels, establishing the world's first fleet-based smart fishery management system. In May, it achieved the global first shipment of ultra-large vessel-raised salmon.
In artificial intelligence, Huatong Group is advancing the construction and operation of Qingdao's computing power scheduling service platform, integrating over 33,000 P of intelligent computing power to fully meet the computing needs of the five cities in the Jiaodong region. Its proprietary "Tongcheng Large Model" has deeply empowered 90 vertical industry scenarios. Additionally, the group has pioneered a full-chain data asset service system nationwide, executing the first data asset trust income rights ABS business worth 532 million yuan, charting a new path for data element value release. In synthetic biology, Tsingtao Brewery Group has established a biotechnology company, with six products completing process finalization and six entering pilot testing. It is accelerating the construction of a bio-manufacturing plant, slated for completion and operation by year-end.
As innovation leaders, municipal enterprises have boosted R&D investment to 1.647 billion yuan in the first half, up 9.5% year-on-year, outpacing revenue growth. Key technological breakthroughs include Hai Jian Group's launch of a 36-inch deep-sea tension leg platform tendon steel pipe, a core component for mainstream deep-sea energy development platforms, breaking the previous reliance on imports. Qingdao Energy Group unveiled the "Qing Neng Yi An" gas safety large model, achieving 90% accuracy in hazard identification, a 30% increase in inspection efficiency, and a fivefold improvement in safety inspection quality.
Alongside independent innovation, municipal enterprises are accelerating the commercialization of scientific achievements through open scenario resources and matchmaking platforms. The Municipal SASAC has organized two application scenario release and technology transfer matchmaking conferences, publishing 88 application scenario needs. Deepened strategic cooperation with universities and research institutes like Shandong University, Ocean University of China, and Qingdao Institute of Bioenergy and Bioprocess Technology is fostering collaborative projects. The hosting of the 2026 Central Enterprises Innovation Competition attracted 78 provincial and municipal state-owned enterprises to Qingdao, promoting central-local cooperation and innovation ecosystem building.
Municipal enterprises are also integrating into the Qingdao Science and Technology Innovation Corridor by establishing conversion platforms. Water Group launched the nation's first full-chain seawater desalination public technology service platform, providing a pathway from research to production. Qingdao Marine Development Group, in partnership with Harbin Institute of Technology and other universities, founded Qingdao Marine Engineering Joint Innovation Development Co., Ltd., creating a dual system of research institute R&D and company commercialization to bridge marine technology from lab to industry.
Fund investment remains a vital tool for state-owned capital to empower industrial upgrading. This year, the Municipal SASAC has promoted the role of municipal industrial funds, coordinating city-district collaboration to focus on integrated circuits, AI, low-altitude economy, and marine economy. Several leading strategic emerging enterprises have received state-owned fund investments. For instance, Moke Intelligent specializes in semiconductor power module testing equipment, pioneering the domestic mass production of intelligent ultrasonic SAM defect detection devices. Zhiteng Technology focuses on extreme-environment intelligent sensors, being one of the few private enterprises supporting the Long March rocket series over a hundred times.
Simultaneously, municipal enterprises are attracting quality projects to Qingdao through investment. Yuanqi Core, an AI chip acceleration enterprise under Inspur Group, relocated to Laoshan, injecting momentum into high-end computing chip autonomy. Bangxin Semiconductor, a core semiconductor equipment company, settled in the Integrated Circuit Industrial Park, filling an industry chain gap. This year, the Municipal SASAC continues to deepen state-owned enterprise reforms, promoting restructuring with a focus on "one enterprise one industry" to address issues like non-core operations, internal homogeneous competition, and excessive legal entities, ensuring reform outcomes are consolidated.
Qingdao Double Star, controlled by City Investment Group, exemplifies this reform logic. After nearly two years of major asset restructuring with Kumho Tire, it became the first A-share tire company to acquire an overseas listed company. The first post-restructuring half-year report shows revenue of 13.83 billion yuan and total profit of 1.14 billion yuan, representing fivefold and sevenfold increases, respectively, before restructuring, achieving a leap in profitability and market competitiveness. This restructuring practice has recently received recognition from the State-owned Assets Supervision and Administration Commission of the State Council.