GRT subsidiary specializing in precision coating new materials, 'Jiangsu Haizhi New Materials Technology Co., Ltd.' (hereinafter Jiangsu Haizhi New Materials), announced that it has been designated as a 'National-level Little Giant Enterprise' and a 'Unicorn' as a result of strengthening its industrial competitiveness for corporate growth.
On the 30th, Jiangsu Haizhi New Materials announced that it was recently listed as a National-level Little Giant Enterprise and a Unicorn. In the case of the National-level Little Giant Enterprises, a total of 8 companies including Jiangsu Haizhi New Materials were selected in Lianyungang City, demonstrating their competitiveness as mid-sized enterprises.
The National-level Little Giant Enterprises must meet criteria including ▲specialization (leading the industry, possessing strong technological innovation and manufacturing capabilities) ▲precision (enhancing product added value and market competitiveness) ▲distinctiveness (owning independent intellectual property rights and core technologies) ▲innovation (industrial upgrading and eco-friendly development), as well as ▲sales ▲net profit ▲R&D investment ratio to be listed.
The selection criteria are determined according to related policies announced by China's Ministry of Industry and Information Technology (工信部). Being listed as a National-level Little Giant Enterprise grants various benefits such as ▲financial support ▲financial services ▲talent support ▲market development support ▲policy priority, making competition fierce.
Through financial and monetary support, companies can enjoy benefits such as free funds, loan interest subsidies, tax reductions, income tax cuts, and additional deductions for R&D expenses. Furthermore, support measures are in place to attract high-level talent, which is advantageous for securing core technology and management personnel, and priority is given when applying for government procurement, bidding, and major projects.
In other words, it reduces the tax burden on companies. This is why mid-sized enterprises in China strive to be listed as National-level Little Giants. So far, a total of 31 specialized and distinctive National-level Little Giant Enterprises have been produced in Lianyungang City. Notably, this accounts for the highest proportion among industrial enterprises in the northern region of Jiangsu Province.
Jiangsu Haizhi New Materials has been striving for major product production and talent development through the Jiangsu Productivity Promotion Center and has met the criteria for a 'Unicorn Enterprise' within Jiangsu Province for high-tech rapid growth. As a result, Jiangsu Haizhi New Materials was selected as a Unicorn Enterprise on the 24th.
A Unicorn Enterprise generally refers to an unlisted company established within the last 10 years with a corporate value exceeding 1 billion USD. Some companies have values exceeding 10 billion USD. Unicorn Enterprises in China are mainly concentrated in Shanghai, Jiangsu Province, and Beijing, with 80 companies selected in Jiangsu Province alone. This accounts for 21.3% of the total (375 companies nationwide).
Additionally, Jiangsu Haizhi New Materials is building emerging and future industries targeting ▲the ‘1650’ modern industrial system ▲the ‘51010’ strategic emerging industry cluster ▲the ‘10+X’ future industrial system, as guided by various levels of science and technology authorities.
A GRT official stated, "Currently, Jiangsu Haizhi New Materials ranks among the top within Jiangsu Province," adding, "Jiangsu Haizhi New Materials has successfully expanded its market share in the same industry through market segmentation, strong innovation capabilities, and mastery of core technologies."
He continued, "We will continuously strengthen industrial competitiveness and grow into a highly specialized company along with quality improvement."
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