CCTV's' Morning News': Fiscal 'Leverage' Boosts Industrial Upgrading - A Typical Path for Technology Enterprises to Advance with Wofu Permanent Magnet

Recently, in the process of China's economic development, local governments have been implementing effective measures, fully leveraging the leverage of fiscal funds to inject surging momentum into the high-quality development of the economy. The guiding power of fiscal funds is everywhere, from coastal areas to inland areas, from high-tech industries to traditional manufacturing industries, and has achieved remarkable results. The CCTV News Channel's "Morning News" program conducted a special report on this and interviewed Anhui Wofu Permanent Magnet Technology Co., Ltd. as a typical representative enterprise, introducing the industrial promotion effect of active fiscal policies on the real economy, especially technology enterprises.

In the interview, Wofu Permanent Magnet Technology stated that with the assistance and support of technology guarantee companies, it has continuously injected "burden" momentum into enterprise innovation and entrepreneurship. Ms. Wu Jing, the general manager, revealed that the investment for the second phase of the new production line is expected to be around 100 million yuan. According to regulations, the enterprise must have at least 30% of its own funds to start the construction of the new production line. It is precisely because of the early intervention of the technology guarantee company that the enterprise can raise sufficient project construction funds; And fiscal funds play a crucial role in endorsing and backing technology, which stimulates the enthusiasm of enterprises to invest themselves and makes it possible for technological innovation to be transformed into tangible productivity.

In the growth trajectory of Wofu Permanent Magnet Technology, the support of financial funds is like timely rain, moistening every inch of land for the development of the enterprise. Anhui Province actively builds ten emerging industry guidance funds, among which Hefei High tech Entrepreneurship Investment and Anhui Province Guoyuan Seed Fund take the lead in setting an example, injecting 20 million yuan of early Series A investment into Wofu Permanent Magnet. This key fund is like a spark, igniting the engine of enterprise innovation and development, and helping enterprises smoothly set sail in the early preparation stages such as technology research and development, talent introduction, and market expansion. The subsequent Series B financing reached up to 50 million yuan, injecting strong impetus into the scale development and capacity expansion of the enterprise, enabling it to boldly invest in research and development, accelerate the transformation of scientific and technological achievements, and continuously enhance product competitiveness.

Looking ahead to the future, with the continuous deepening of fiscal guidance in various regions, Wofu Permanent Magnet Technology will thrive in the spring breeze of policies, and the high-end equipment manufacturing industry cluster will continue to develop and grow, making great strides towards the goal of becoming a world-class advanced manufacturing industry cluster, laying a more solid industrial foundation for the high-quality development of China's economy, and writing a more brilliant chapter of development.

Please refer to the specific report by CCTV below

https://app.cctv.com/special/m/livevod/index.html?vtype=2&guid=397afbdbac79452e8b6a32e84b0013be&vsetId=C10598

https://baijiahao.baidu.com/s?id=1819548135062174764&wfr=spider&for=pc