Tongfang aims to nurture world-class high-tech enterprises

Tsinghua Holdings' subsidiary Tongfang Co. plans to create a world-class ecosystem for nurturing high-tech start-ups combining technology, finance and business incubators, the company announced on June 25.

The announcement was made during a special industry development forum held in Beijing to celebrate the 20th anniversary of the company's founding in June 1997.

Tongfang Co. holds its 20th anniversary and industry development forum in Beijing on June 25.

Created to help bring to market the research achievements made by scientists at Tsinghua University, Tongfang's success in nurturing a string of leading companies has helped its assets grow from 280 million yuan ($41.2 million) in 1997 to 57 billion yuan in 2017.

Former start-ups nurtured by Tongfang such as security scanning equipment manufacturers Nuctech and electronic components maker Tongfang Guoxin Electronics are now successful independent companies worth hundreds of millions of dollars in their own right.

Tongfang now covers a very broad range of industries and has a high level of vertical integration for many strategically important sectors, allowing it to provide excellent support to emerging Chinese high-tech companies, according to Huang Yu, Tongfang's vice-chairman and president.

Huang Yu, vice-chairman and president of Tongfang Co., delivers a development report at the forum.

According to Huang, the company will focus its resources on supporting high-tech start-ups from eight key sectors in the future. These are commercial and consumer electronics, cloud computing and big data, public security, military equipment, lighting, energy efficiency, environmental protection and health care.

Tongfang will facilitate the sustainable growth of China's technology industries by providing risk investment, which will in turn provide high-quality assets to financial platforms that will help the companies reduce financing costs.