SPHINCS⁺ is a stateless digital signature scheme designed using hash functions and has been proven resistant to quantum computing attacks. However, its wide practical application is constrained by the large size of the generated signature values. To address the issue of the lengthy signature value generated by the WOTS+ one-time signature scheme within SPHINCS⁺, a compact one-time signature scheme, SM3-OTS, based on Chinese cryptographic algorithm SM3, is proposed in this study. The proposed scheme utilizes the binary and hexadecimal information of the message digest as the indices for node positions in the first 32 hash chains and the last 16 hash chains, respectively. This approach effectively reduces the key length and the signature value length compared to traditional one-time signature schemes based on hash functions. Compared to WOTS+ in SPHINCS⁺, Balanced WOTS+ in SPHINCS-α, and WOTS+C in SPHINCS⁺C, the proposed SM3-OTS shortens the signature value length by about 29%, 27%, and 26%, respectively, with a significant improvement in signing performance. In addition, by adopting the SM3 algorithm, SM3-OTS exhibits strong resistance to quantum attacks while maintaining well-balanced overall performance.