Baotou INST Magnetic New Materials Co recently secured 100 million yuan ($13.93 million) in financing credit from the Bank of Communications Baotou Branch.

Baotou INST Magnetic New Materials Co. [Photo/Baotou news network]

This marks the first time the company has secured financing credit through the innovative "patent + data intellectual property" financing model, making it the first enterprise in the Inner Mongolia autonomous region to obtain financing via a data intellectual property pledge.

Data intellectual property refers to the exclusive rights of data collections that have been legally collected and processed through specific algorithms, possessing practical value and intellectual property attributes. This year, the Baotou Rare-earth High-tech Zone built the first data intellectual property service workstation, guiding INST to obtain the city's first data intellectual property registration certificate.

INST is an enterprise engaged in the research and development, production, and sales of rare earth permanent magnet material application devices. It has accumulated loan credit lines of over 1 billion yuan through intellectual property financial services, providing valuable financial support for the company's development and growth.