Qi An Xin Technology (SH:688561) Jin Rong Shi Bao·2026-02-12 04:07Core Insights - The article emphasizes the critical role of financial support and policy backing in the development of private technology enterprises in China, particularly highlighting the journey of Qi Anxin as a case study of success in this context [1][2][4]. Financial Support and Policy Impact - Financial support policies have been instrumental in alleviating the challenges faced by private technology companies, enabling them to focus on core technology development [2][5]. - Qi Anxin's financing history illustrates the importance of financial backing throughout the lifecycle of technology enterprises, with significant funding rounds totaling 6.5 billion yuan from 2017 to 2019, which fueled their R&D efforts [4][5]. - The introduction of the Science and Technology Innovation Board (STAR Market) in 2019 allowed companies like Qi Anxin to go public without the traditional profitability requirement, thus facilitating access to capital for R&D and strategic initiatives [4][5]. Challenges Faced by Private Technology Enterprises - Private technology companies often encounter financing constraints due to their asset-light nature and the difficulty in valuing intellectual property, which can deter financial institutions from providing support [3][4]. - The lack of established technology pathways and market experience in cutting-edge fields poses additional challenges, requiring companies to innovate while aligning with market demands and national strategies [3][4]. Legislative Support - The implementation of the Private Economy Promotion Law in May 2023 marked a significant milestone, ensuring equal legal status and protections for private enterprises, thereby enhancing their confidence in long-term development [6][8]. - This law reinforces the government's commitment to supporting the private sector, which is crucial for fostering a stable environment for innovation and investment [6][8]. Innovation and Market Positioning - Qi Anxin has actively engaged in AI-driven security solutions, aligning its innovations with national strategic initiatives, which has led to successful applications across over 20 industries [7]. - The broader landscape of private technology enterprises is characterized by a surge in innovation, with significant contributions to various sectors, including advanced manufacturing and biomedicine, reflecting their growing role in the national economy [7][8]. Future Outlook - Observers predict that with continued policy and market support, private technology enterprises will achieve greater visibility and success, contributing to China's innovation narrative [9].