<p>Being the major players in promoting innovation, enterprises are therefore central to innovation–based development. Establishing how vibrant they are in terms of innovation has become a heavily debated issue in both academic and industry circles. Through a sample involving Chinese listed companies in advanced material manufacturing, this study utilizes exploratory factor analysis to develop an evaluation system of enterprises’ innovation vitality on the basis of three dimensions: innovation persistence, volatility, and growth. The study establishes deeper interaction between innovation vitality and two major indicators-persistence and volatility formats input and cooperation, while also promoting the growth of innovative input and output. This study adds insights related to the objective assessment of enterprises’ innovation vitality and the promotion of subsequent innovation efforts.</p>