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Public company info - Bairong Inc. , 06608.HK
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Bairong Inc., 06608.HK - Company Profile
Chairman Zhang Shaofeng
Share Issued (share) 495,000,000
Par Currency U.S. Dollar
Par Value 2.0E-5
Industry Other Financials
Corporate Profile Business Summary: The group is a leading independent AI-powered technology platform in China serving the financial services industry. Performance for the year: During the Track Record Period, the group’s total revenue increased by 142.5% from RMB354.0 million for the year ended December 31, 2017 to RMB858.5 million for the year ended December 31, 2018 and further increased by 47.0% to RMB1,261.9 million for the year ended December 31, 2019. The group’s operating loss was RMB90.9 million, RMB39.9 million, RMB11.3 million, RMB5.7 million and RMB15.3 million for the year ended December 31, 2017, 2018, 2019 and for the nine months ended September 30, 2019 and 2020, respectively. The group’s net loss was RMB353.5 million, RMB181.9 million, RMB94.1 million, RMB57.7 million and RMB115.9 million for the year ended December 31, 2017, 2018, 2019 and for the nine months ended September 30, 2019 and 2020, respectively. Business Review According to Frost & Sullivan, The group is the largest independent financial big data analytics solutions provider in China by revenue in 2019 (after taking into account revenue from precision marketing services). the group have developed an expertise analysing consumers’ financial and behaviour patterns and are able to derive critical data insights enabling financial services providers, or FSPs, to improve their service efficiency while enhance their risk management capabilities. As of September 30, 2020, the group had served more than 4,200 FSP clients (including 2,438 paying FSP clients) in China since the group’s founding, including substantially all of China’s national banks, more than 650 regional banks, substantially all of China’s consumer finance companies, over 90 major insurance companies and a variety of other FSPs. The group provide services and facilitate transactions through the group’s big data and AI technologies. the group’s services support the needs of FSPs in pre-lending risk management, post-lending monitoring, NPL management and insurance risk management, enabling them to reduce exposure to fraud and improve their underwriting and risk management effectiveness. the group also provide big data marketing and distribution services that enable the group’s FSP clients to reach and serve their target customers more effectively. the group’s precision marketing services are provided primarily through the group’s proprietary financial product recommendation platform, Banyan, which is a marketplace connecting consumers with suitable financial products provided by the group’s FSP clients. the group’s insurance distribution services are provided through the group’s Liming technology platform, which provide brokers with data-driven tools and analytics to facilitate efficient and effective insurance sales and customer relationship management. Benefiting from the group’s massive data insights, advanced technology and leading service capabilities, the group have won strong recognition and acceptance among licensed financial institutions. the group’s total revenue was RMB1,261.9 million for the year ended December 31, 2019 and RMB764.2 million for the nine months ended September 30, 2020. For the nine months ended September 30, 2020, approximately 90% of the group’s total revenue came from FSP clients that are licensed financial institutions. The group’s Business Model The competitive advantages of the group’s business centre around the group’s proprietary and comprehensive repertoire of data labels, AI-powered big data analytics capabilities, and agile product development capability. the group have established, through proprietary accumulation as well as collaboration with thirdparty partners, large and comprehensive databases covering a wide range of consumer data labels using both financial and non-financial metrics. As The group is one of the preferred service providers for independent big data analytics products and services for more than 4,200 FSPs (including 2,438 paying FSP clients) in China as of September 30, 2020, The group is in a position to continually obtain dynamic data insights from the services the group provided to the group’s FSP clients. Such proprietary accumulation, together with data labels sourced from selected data partners, has enabled us to build a comprehensive database covering a wide range of consumer data labels. The group have built a cloud-native technology platform that supports the development and delivery of products and services to clients. the group’s platform offers a number of individual product modules which can be easily deployed and integrated with the group’s clients’ IT infrastructure and workflows via standardised application programming interfaces (APIs). the group can also package various modules into customised end-to-end solutions for the group’s clients. The cloud-native nature of the group’s platform enables us to quickly adapt and deliver products and services to satisfy FSPs’ ever-evolving needs, which, in turn, ensure the richness and diversity of the group’s data labels. This ecosystem enables us to continuously expand the group’s database, improve the group’s data processing and data analytics capabilities, and help the group’s clients enhance decision-making efficiency. In addition, the group’s technology infrastructure empowers us to process a massive volume of data requests from FSPs in a cost-effective way. The group went through different monetization stages of applying the group’s AI and data analytics capabilities. At the earlier stage of the group’s development, the group focused the group’s efforts on applying the group’s AI and data analytics capabilities to serve the credit assessment needs of national and regional banks and consumer finance companies, where a wide range of consumer data labels are concentrated. the group invested heavily in developing the group’s cloud-native IT system architecture and data management mechanism to enable efficient data processing and storage, refine the group’s AI-powered algorithms and explore the application of new models. the group’s technologies have been continuously improved and become more intelligent as the group served more FSPs, leading to enhanced data processing capabilities with greater speed and accuracy. The insights and knowledge uncovered from the data accumulated by us can be further leveraged upon. Through these years of investment and development, the group have built a solid technology foundation to capture growth opportunities. the group then applied the group’s core AI and data analytics capabilities technologies to more monetization models, including precision marketing services and insurance distribution services. Leveraging the group’s technology infrastructure and technology capabilities, the group have developed a suite of analytics-driven AI and big data solutions to empower FSPs. This further enhances the rapid self-reinforcement of the group’s technologies and allows us to deliver additional values to FSPs. Prospects: The group intend to pursue the following strategies to further grow the group’s business: ‧ Solidify leadership in technology. the group will continue to invest in technologies and collaborate with top universities and research institutions to develop technologies in AI and big data, invest in the group’s technology infrastructure to support the group’s stable, reliable and scalable services, and broaden the group’s database as the group serve more FSPs. ‧ Enhance and expand the group’s products and services. the group will continue to work with FSPs and expand the group’s products and offerings to cater to their evolving needs. ‧ Further expand the group’s client base and deepen client relationship. the group will further enhance the group’s business development capabilities, further expand the group’s footprint in the financial services industry, and continue to deepen the group’s client relationship by offering more comprehensive products and services covering the entire transaction life cycle. ‧ Pursue strategic acquisitions that complement the group’s leadership position. While the group expect this will occur primarily through organic growth, the group have acquired and will continue to acquire assets and businesses that strengthen the group’s value proposition to the group’s FSP clients.

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