Five Nanshan-based firms made Forbes China's list of "Top 50 Chinese AI Tech Enterprises" announced on May 17, including ZTE, UBTECH Robotics, X Square Robot, Tencent Music Entertainment (TME), and Donson Times.

ZTE, a veteran in the information and communications technology (ICT) sector, has bet heavily on AI for its future growth in recent years.

UBTECH Robotics is one of the few enterprises globally to achieve commercial mass production of humanoid robots. Last year, it delivered over 500 units of its industrial humanoid robot Walker S2, with an annual production capacity exceeding 1,000 units. The company has received orders worth nearly 1.4 billion yuan from automakers, electronics manufacturers, and leaders in other sectors. It has set a target of producing 10,000 humanoid units in 2026.

In the field of embodied AI and applications, X Square Robot focuses on the research and development of embodied AI models and general-purpose robots. It has launched WALL-B, an embodied AI model based on a unified world model architecture (WUM). The robots are used in industrial logistics, home services, elderly care, and hospitality.

Among Forbes China's chosen companies, tech firms focusing on foundation models account for over half of the total, while those focusing on applications span more than 10 vertical fields, including healthcare, finance, education, and manufacturing.

Forbes China's top50 AI tech enterprises list.

The companies were evaluated on their technological innovation capability, application and practical impact, investment and financing status, sustainable development potential, and team and culture.

Nanshan District, an economic powerhouse with a thriving artificial intelligence industry, is home to the Shenzhen Foundation Model AI Eco Hub, the first vertical-domain AI ecosystem community in the Guangdong-Hong Kong-Macao Greater Bay Area.

The district has a plan to provide 100,000 square meters of industrial space, incubate 100 innovative entities, foster 1,000 applications, and achieve trillion-yuan economic value in the AI industry. By the end of 2025, the district was home to over 1,300 AI enterprises above the designated size, referring to companies with annual revenue of at least 20 million yuan, with the AI sector's added value accounting for approximately 60% of Shenzhen's total.