Xiangyang Unique: Yicheng achieves unicorn enterprise breakthrough

Recently, in the 2024 Hubei Unicorn Enterprise Development Database jointly released by the Hubei Provincial Department of Economic and Information Technology and the Provincial Department of Science and Technology, Hubei Te Teng New Materials Technology Co., Ltd. stood out and won the title of "Seed Unicorn Enterprise", becoming the only company in Xiangyang City to receive this honor in 2024.

Unicorn companies are typical representatives of high-tech, high-growth, and high-value companies. They are an important symbol of regional innovation vitality and an important engine for regional development of new economy and cultivation of new momentum. This selection focuses on the company's innovation strength, market potential and capital value. Hubei Te Teng has won this heavyweight recognition with its outstanding performance in the field of fine chemicals.

Since its establishment in 2021, the company has been deeply engaged in the research and development and production of dye intermediates, pharmaceutical intermediates and photoinitiators. It has not only enriched its product line, but also developed a series of high-value-added products such as 2,6-dihydroxytoluene, para-aminobenzoic acid and α-acetyl-γ-butyrolactone. These products have been widely praised in the market, especially the "2,6-dihydroxytoluene" product has been included in the provincial innovative product catalog, which has won the company a leading position in the field of new materials.

Hubei Te Teng was able to achieve a post-investment valuation of over RMB 100 million in just three years, fully demonstrating the company's rapid growth as a "unicorn". This achievement not only marks the success of the company's business model and the effective transformation of technological innovation, but also directly reflects Yicheng's continued optimization of the business environment and support for the development of high-tech enterprises.

In recent years, Yicheng City has adhered to the service purpose, taking the optimization of the business environment as a starting point, and has been a gold medal "shop assistant" for corporate services, increasing support for companies with high growth and innovation capabilities like Hubei Te Teng. At the same time, a gradient cultivation pool of "gazelle"-"unicorn"-"moose" enterprises was established, and the "Opinions on Accelerating the Construction of a 100 Billion Industrial Power City" was formulated and issued. For industrial enterprises that are "moose", "unicorn" and "gazelle" and other provincial-level or above scientific and technological "new species" that are first entered into the pool, a one-time reward of 2 million yuan, 1 million yuan and 100,000 yuan will be given respectively. Use "real money" to promote the vigorous development of our city's high-tech industries and inject stronger impetus into the economic and social development of Yicheng and even Xiangyang. (Li Feng, Liang Guodong)

Editor: Xiao Fangshuo

Review: Li Feng Feng Bo