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https://www.scmp.com/presented/business/topics/upholding-entrepreneurial-spirit/article/3160107/enduring-entrepreneurial

From December 13th to 14th, the WISE 2021 New Economy King Summit hosted by 36Kr and themed on "Hardcore Era" was held in Shanghai. The "New Economy" series list was announced at the meeting. Based on big data and AI technology, ForU Trucking has built a "hard-core" barrier for end-to-end digital services in the field of road freight, and was selected as the "Hard-core Enterprise of the Year" and "2021 China Unicorn" by WISE 2021 King of the New Economy Double List of Enterprise Development Research Report.

Shortlisted companies: Building "hard core" competitiveness through technological innovation

According to 36 Krypton, the WISE 2021 King of the New Economy "Annual Hardcore Enterprise" is selected based on comprehensive dimensions such as product innovation, business health, industry status, growth potential, and capital performance, and is commended for innovations in technology, products, and models. A new economic enterprise with outstanding performance.

"China's New Economy Unicorn Enterprises" is selected for high-growth innovative companies with a valuation of more than US$1 billion in high-tech industries and strategic emerging industries.

Under the challenges of the external environment, in the past year, Fuyou Trucks has a clear strategy, the SME (small and medium shipper) business has become the second growth curve, and the "dual engine" model of the KA (large shipper) business and the SME business has won the market recognized. This is not only the highlight of Fuyou Trucks' accumulated advantages in data and technology in the past few years, but also the further accumulation of potential energy for future development.

Fuyoukache was selected as the "Hardcore Enterprise of the Year" in the logistics and supply chain field of WISE 2021 King of the New Economy, and the "China Unicorn Enterprise" in the logistics field. Also included in the list are outstanding companies such as Cainiao Network and Fengchao Technology.

Business Model Innovation: Building Standardized Services

According to the report of the consulting firm CIC, according to different platform models, technology-driven road freight platforms are divided into information-matching platforms and platforms with end-to-end digital transaction capabilities.

The former has brought positive changes to the industry by improving information transparency, but a platform with end-to-end digital capabilities participates in the entire chain of transactions, and has done a more in-depth and thorough technical empowerment, with more transparent, more efficient, and standardized advantages.

Fuyou Trucks has end-to-end digital transaction capabilities. Relying on the digital system, the platform provides cargo owners and truck drivers with a full-process standardized service from inquiry, delivery to delivery and settlement.

Taking service KA as the first business, Fuyou Trucks took the lead in forming an intelligent pricing system and a standardized service system in the industry. Beginning in July last year, the platform opened standardized services to SME shippers, faced the pain points of the industry, and opened the second growth curve.

As more and more SME shippers use the standardized services of the platform, they contribute a large number of orders and data. These data flow back into the system and continue to be used to train algorithms. The technical service capabilities of the platform are further strengthened, and then feedback to customers is higher. service efficiency.

The continuously iterative and efficient services have been recognized by the market. During the "Double 11" period this year, the order volume on the platform was 1.65 times that of the same period last year. Among them, the SME business rose sharply, the number of shippers increased by 279% year-on-year, and the order volume increased by 374% year-on-year.

"Hard core" technological innovation: making transactions more transparent and efficient

Shan Dandan, the founder and CEO of Fuyou Trucks, introduced that Fuyou Trucks is like a "capacity processor". Ability to output high-standard, high-quality services to meet customer requirements.

Over the past 6 years, Fuyou Trucks has accumulated unique full-chain transaction big data, which is the basis for supporting the intelligent system operation of the platform. Taking the intelligent pricing system as an example, the road freight market has the characteristics of non-standardized freight rates, and cargo owners and truck drivers often argue about this, consuming trust and reducing efficiency in repeated communication and negotiation.

In this regard, Fuyou Trucks built a pricing model and used a large amount of transaction data to train the algorithm, so that the algorithm can dynamically set prices based on factors such as different models, routes, market prices, and weather. This makes market freight transparent, eliminates the tedious negotiation process, and significantly Improve transaction efficiency.

Fuyou Truck is the first platform to apply AI technology to the vehicle transportation trading market, and it is also the only platform in the industry that can achieve second-level pricing for long-distance vehicle freight. The core of technological innovation has allowed Fuyou Truck to pass the certification of "National High-tech Enterprise", and won the "2020 Top 100 Emerging Market Technology Challengers" selected by Boston Consulting Group, and the "2021 Science and Technology Progress Award" of China Federation of Things.

As 36 Krypton pointed out, "No matter how complicated the external environment is, technological innovation is always providing new momentum for economic growth."

Fuyou Trucks will also continue to adhere to technological innovation, so that more customers can enjoy efficient and standard services, more drivers can gain professional dignity, and fulfill the mission of "making the road freight industry simpler and smarter".