Dongguan Releases The Gravitational Wave Of Capital

      The number of gazelle enterprises in a city has become an important indicator to measure the level and potential of economic innovation and development. How to breed gazelle enterprises is particularly important.

For Dongguan, a manufacturing city, in recent years, in the process of transformation and upgrading of its manufacturing industry and the cultivation and development of emerging industries, it has made it clear that improving the financial service system, developing emerging financial formats, and strengthening the financial enabling support for the real economy are the top priorities, trying to make up for the weakness of the financial sector.

With the rapid development of Dongguan's new generation of information technology, high-end equipment manufacturing, new energy, new materials and other strategic emerging industries, a number of small and medium-sized technology-based enterprises have risen, which has enhanced the attractiveness to the capital market. At the same time, from the "multiplier plan" to the "Kunpeng plan", Dongguan has continuously guided capital to gather in enterprises.

Many experts interviewed said that technological innovation of gazelle enterprises and specialized and special new enterprises cannot do without the support of finance. In the stage of enterprise innovation and development, finance plays a key role in energy supply and can rapidly promote the development and growth of enterprises. Dongguan actively constructs the multi-level capital market service system, guides more enterprises to develop and utilize the capital market, which can strengthen the enterprise innovation courage, and then accelerate the industrial quality and efficiency improvement.

Capital favors innovative enterprises

In recent years, with advanced manufacturing industry as the core, Dongguan has focused on the new generation of information technology, high-end equipment manufacturing, new energy, new materials and other strategic emerging industries, focusing on promoting the innovation and development of science and technology-based small and medium-sized enterprises.

"With the improvement of innovation ability of Dongguan enterprises, the investment attraction here has become stronger." Li Haoran, senior investment manager of Xiangfeng investment, described the changes in Dongguan's investment environment in his eyes.

In July 2021, Songling robot, located in Dongguan Songshan Lake International Robot industrial base, completed a round of financing with 100 million yuan. The investors include Sequoia China, Wuyuan capital, Xiangfeng investment China fund and other institutions. Songling robot was founded in 2016. Its founding team and R & D team come from enterprises and scientific research institutes such as Dajiang and MathWorks. After years of development, it has gradually grown into a global leading mobile robot chassis manufacturer and mobile robot system solution provider“ At present, the sales volume of Songling robot chassis ranks first in China, achieving an annual sales growth of 200% Wei Jidong, founder of Songling robot, said.

In fact, Songling robot is only the representative of Dongguan technology-based small and medium-sized enterprises that have won the favor of capital. In recent years, only in Songshan Lake International Robot base, have cloud whale intelligence, Hairou innovation and other enterprises been invested by venture capital.

"The technology accumulation and continuous R & D and product iteration capabilities of enterprises are the first priority of investment institutions, and supply chain resource integration and channel capability are also important characteristics of high-quality enterprises." Li Haoran said that Dongguan has a good location and industrial foundation, which gives Dongguan enterprises many advantages in terms of linked capital.

Li Haoran also said that compared with the more competitive atmosphere in Beijing and Shenzhen, entrepreneurs in Dongguan seem to be able to stay focused“ In particular, enterprises that are partial to hardware have higher technical threshold, which requires enterprises to spend time and energy in research. Dongguan has given a very tolerant growth space in this respect. "

"In the future, the innovation potential of Dongguan's real economy will be further released, and the demand for capital market will continue to increase." Wang Fangfang, vice president of the school of artificial intelligence and digital economy industry, Guangdong University of Finance and economics, said that digital industrialization and industrial digitization will bring new elements to the development of the real manufacturing industry. Relying on the advantages of super large-scale market and complete industrial system, the innovation and development of Dongguan's real economy will still maintain a strong momentum.

Strengthen "Dongguan plate"

For the rapid development of gazelle enterprises, capital is the necessary element for enterprises to maintain innovation vitality and develop into "unicorn" enterprises and even leading enterprises. However, due to the lack of effective collateral and other characteristics, many small and medium-sized technology-based enterprises have been facing the problem of financing difficulties and high financing.

From the policy point of view, how to ensure that small and medium-sized technology-based enterprises obtain sufficient and effective financing has become a crucial link. Therefore, since 2017, Dongguan has launched a "doubling plan" for the scale and efficiency of key enterprises, accelerating the gathering of capital, technology and other innovative resources to high-quality enterprises. Through a series of policies such as vigorously encouraging enterprises to connect with the multi-level capital market and optimizing financial supply, efforts have been made to guide enterprises to achieve doubling through capital channels such as merger and reorganization and industrial funds, Further stimulate the vitality of independent innovation of enterprises.

According to the implementation opinions on further promoting the development of science and technology finance in Dongguan issued in 2020, Dongguan should issue supporting policies and formulate precise measures to serve enterprises according to the financing needs and characteristics of enterprises in seed stage, start-up stage and growth stage. In addition, it also made clear that all kinds of technological credit innovative products, such as non physical mortgage credit loan, trademark exclusive right pledge financing, patent right pledge financing, are also committed to broaden the financing channels of enterprises, improve the financing efficiency of enterprises, and reduce the financing costs of enterprises.

Dongguan Dongsi electronics is a policy beneficiary. Chen Zexing, general manager of the company, said that as a design and development enterprise focusing on new electronic components and thick film hybrid integrated circuit products, Dongsi electronics once encountered the bottleneck of capital shortage. "After the relevant departments in Dongguan learned about it, they organized 10 banking institutions to conduct on-site research. On the spot, some banks granted us a loan line of 5 million yuan, and the government also offered interest discount."

It is worth noting that the breeding of gazelle enterprises has also provided effective strength for Dongguan to strengthen the ranks of listed companies. From the perspective of enterprises, this also constitutes a set of linked capital enabling system.

Dongguan has a number of gazelle enterprises are expected to grow into listed reserve enterprises. According to the data of Dongguan Municipal Financial Bureau, in 2020, there are 17 listed and approved enterprises in Dongguan, ranking the first among prefecture level cities in the whole province. Meanwhile, the echelon structure of Dongguan listed reserve enterprises has a good development trend, and the number of queuing and counseling records of the provincial and Mainland level cities is firmly in the first place. At present, there are 65 listed companies in Dongguan, with a total market value of over 560 billion yuan.

From the perspective of urban competitiveness, Lin Jiang, Professor of Economics Department of Lingnan College, Sun Yat sen University, analyzes that as an export-oriented economic city, Dongguan has abundant private capital. With the continuous improvement of Dongguan's capital market service system, the possibility of Dongguan enterprises to become bigger and stronger through the capital market has increased significantly. Dongguan should make full use of the resource advantages of Guangdong, Hong Kong and Macao Bay area to create conditions for its high-tech industries to be internationalized.

"Next, Dongguan should strengthen the system construction of capital ecology and innovation ecology, so as to ensure that the capital system can effectively serve enterprise innovation and industrial upgrading, and form a virtuous circle." Wang Fangfang believes that Dongguan should make use of its advantages as the "node" of Guangzhou Shenzhen Hong Kong Macao science and technology corridor, strengthen the interconnection with Guangzhou Shenzhen in terms of industrial layout and infrastructure, attract capital resources to Dongguan through the efficient flow of people, logistics and digital flow, and form a high degree of agglomeration of capital resources in Dongguan, and create talents, talents, and talents through government guidance and enterprise alliance Financial institutions and innovative services and other innovative resources platform and carrier to create a sustainable innovation atmosphere.