Yuxin Electronics Leads the Global Market in Production and Sales
Hualong News (Reporter Liang Haonan) – Chongqing Yuxin Pingrui Electronics Co., Ltd., widely known as “Yuxin Electronics,” has transformed from a small workshop to a global leader in production and sales. Situated in the Western (Chongqing) Science City, the company’s production workshop operates seamlessly, supplying igniters that are in high demand both domestically and internationally. With an annual production and sales volume of nearly 10 million units, Yuxin Electronics holds a global market share of approximately 15% to 20%, securing its position as the world leader in the industry.
Established in 2003, Yuxin Electronics specializes in the research and development, production, and sales of core electronic control components for general-purpose gasoline engines and end products. Recognized as one of the first “little giant” enterprises by the Ministry of Industry and Information Technology, Yuxin Electronics has successfully replaced imported products with its independently developed high-quality general machine igniters. Utilizing patented technology and cost advantages, the company swiftly gained a foothold in the high-end general machine market.
“The company’s sustained high growth rate is primarily attributed to its commitment to the development concepts of ‘leading with technology‘ and ‘specialization, specialization, and innovation.’ We are dedicated to continuous product upgrades and the development of new products in niche areas and leading industries,” said a representative from Yuxin Electronics. In recent years, the company has maintained an average annual growth rate of 47% in research and development investment.
On May 19 of this year, Yuxin Electronics successfully applied for an additional deduction of 27.23 million yuan for research and development expenses in 2022. This resulted in a tax reduction of 4.0844 million yuan. “With the increased super deduction ratio for research and development expenses to 100%, the burden of our research and development investment has significantly diminished. This allows us to allocate more funds and resources to technological research and development,” added the representative. Yuxin Electronics emphasized the strong support and favorable tax policies provided by the Science City, which have enabled them to maintain industry leadership in technological innovation.
Furthermore, the High-tech Zone Finance Bureau, Government Services, and Social Affairs Center, along with other relevant departments, have formed specialized teams to provide personalized services for Yuxin Electronics. As a result, the company received a financial subsidy of 6 million yuan for listed companies, ensuring sufficient funds for innovation and development.
In addition to general-purpose igniters, Yuxin Electronics independently manufactures over 3,000 products. Their flagship product, the digital variable frequency generator converter, is exported worldwide, ranking third in global market share.
Moving forward, Yuxin Electronics aims to stay attuned to industry trends and market demand. The company plans to increase investment in research and development, bolster technical capabilities in production, equipment, talent acquisition, and training. By overcoming technical barriers, Yuxin Electronics aims to develop products for emerging market areas.
The success of Yuxin Electronics exemplifies the symbiotic relationship between enterprises and government support. From January to August of this year, the Western Science City Chongqing High-tech Zone provided approximately 570 million yuan in tax reductions and fee waivers, tax rebates, and tax deferrals. These measures have injected vitality into enterprises specializing in innovation and development.
To date, the Chongqing High-tech Zone in the Western Science City has nurtured 168 “specialized, special, and innovative” small and medium-sized enterprises at the municipal level or above. Among them, 17 were recognized as “little giants” by the Ministry of Industry and Information Technology, and four are state-supported “little giants.”
Looking ahead, the Chongqing High-tech Zone in the Western Science City will deepen the implementation of its “specialized, special, and new” enterprise doubling plan, supplementing it with various measures to enhance cultivation efforts. The tax department aims to implement tax policies effectively and improve service quality and efficiency, providing customized services to empower technological innovation.
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