(Yicai) July 17 -- Central China's Wuhan has unveiled its 2025 list of the top 100 gazelle enterprises yesterday, spotlighting high-growth tech firms such as MEMSonics Technologies and Xinlike Technology, underscoring the city’s push to foster innovation, Yicai learned.

Gazelle enterprises are small and medium-sized firms with rapid revenue growth. In Wuhan, candidates must also demonstrate strong performance in technological innovation, market expansion, or novel business models.

The 100 firms were selected from more than 6,000 companies with hard core intellectual property rights located in the city's high tech development zone, the Optics Valley, a hub of technological advancement, according to Zhao Rongkai, director of the Optics Valley Innovation Development Research Institute.

Also known as the Wuhan East Lake High-tech Development Zone, the Optics Valley is one of China’s earliest state-approved high-tech zones and a leader in optoelectronics, information technology, biomedical research, new energy, and advanced manufacturing.

An official from the Optics Valley told Yicai that the zone will collaborate with major investment institutions and professional service providers to organize activities such as industry consultation sessions and financing roadshows to support these selected firms.

The companies share several traits: over half of their staff are engaged in research and development, and they have secured at least CNY60 million (USD8.4 million) each in equity financing over the past three years. About 70 percent are industry leaders in technology leaders of their own industry fields, and over 80 percent are involved in cutting-edge sectors such as integrated circuits, intelligent robotics, and biomanufacturing, per Zhao.

Zhao noted that 83 of the 100 firms have received equity financing in the past three years. Among them, MEMSonics, a producer of radio frequency filters, recently raised nearly CNY1 billion (USD140 million) in a funding round.

Xinlike, another chosen firm, was founded just over a year ago. The company, which manufactures optical chip welding equipment, has reduced welding time from one hour to one minute and 40 seconds per chip, according to its head. This product alone has brought in CNY40 million in revenue and helped the firm secure CNY30 million in financing last month.

Since Wuhan launched its annual gazelle enterprise program in 2011, more than 1,860 firms have been recognized. Eight have become unicorns, and 26 have gone public.

Editors: Tang Shihua, Emmi Laine