In the "Exploring the Unicorn" program, which will be launched in 2022, Li Hongwei, president of Baoli Wealth, and Su Meng, chairman and CEO of Percentile Technology, conducted a high-end dialogue, exploring the origin of the company's name, original intention, growth process, scientific and technological value, and overseas market development from the perspective of investment. Based on the improvement of social efficiency brought about by big data, it closely focuses on digital China, digital economy, digital government, and data governance, and deeply empowers China's economic development.
Percentile Technology is a data intelligence company serving global enterprises and governments, headquartered in Beijing, with more than a dozen subsidiary companies across the country. With full-stack big data and artificial intelligence technology products, with the mission of "promoting social progress with data intelligence", it builds end-to-end digital intelligent solutions for enterprises and governments. At present, the business has covered more than 20 countries around the world, serving more than 10,000 domestic and foreign customers, involving digital city, emergency management, public safety, ecological environment and other fields, helping customers to transform intelligently.
Dialogue on the original intention of the company
Baoli Fortune Li Hongwei: Mr. Su, you are the first person to return to China after graduating from the Ivy League Cornell School, and later taught at Peking University, and then became a doctoral supervisor, what prompted you to later create a big data company called Percentage Point Technology? What kind of difficulties did you encounter in the early days of your business?
Percentage Point Technology Su Meng: The problems encountered at different stages are not the same, when I first started a business, there was only one simple idea: I want to use the books I have read for so many years, do so many years of research, and can really be applied to the efficiency of social enterprises and governments. The reason why the company is named Percentage Point is that it hopes to use data intelligence technology to promote social progress, one percentage point, one percentage point.
After coming out to start a business, there have also been some changes in themselves, when I first started a business, I was a scholar, and then I changed to the helmsman of Percentage Point, and gradually began to realize that I could lead my colleagues in Percentage Point Technology to fight a world, to win the respect of customers with our technology, to develop more products, to cover more fields.
Go abroad and "successfully go to sea"
Baoli Wealth Li Hongwei: The government enterprises served by Percentile Technology are not only domestic, but now their business has covered more than 20 countries around the world, how did the overseas market expand in the first place?
Percentage Point Technology Su Meng: As China gradually moves to the center of the world stage, Chinese companies are also going abroad. Enterprises represented by a new generation of information technology have many market opportunities in the future. Since 2015, China's national governance system and governance capacity have become the object of learning from many developing countries.
At that time, Percentage Point Technology did not have any experience in going to sea, and we chose the road of "borrowing a boat to go to sea". The so-called "borrowing a ship to go to sea" means: following the large central enterprises to go to sea, we provide solutions in the professional field, from demand communication, to program formation, to business negotiations, etc., are two teams working side by side.
Under this cooperation, the overseas market of percentage point technology has gradually expanded. After that, we will also try to "build our own ships and go to sea", which is also the future direction of development. The state also very much encourages a new generation of information technology enterprises to go to sea. In addition, the cooperation with central enterprises is very comprehensive, which has allowed us to learn a lot.
Business transformation and growth
Baoli Wealth Li Hongwei: As a big data enterprise, Percentage Point has gone through more than 12 years of development since its establishment in 2009.
Percentage Point Technology Su Meng: First of all, as far as I am concerned, I have been constantly growing. My personal understanding of government services and overseas country services is constantly improving. The development of Percentage Point Technology has undergone several major transformations. Each transformation is extremely arduous, because Percentage Point Technology has been doing Internet services since its birth, which can be said to be the most advantageous in China, but the business model in this field is not very mature.
First transformation: In 2014, I led a team to empower traditional industries with Internet product technology. We have entered the domestic consumer electronics field, served Huawei, TCL and other brands, helped them build a data asset management platform, and precipitated data into their own assets. The second transformation: In 2016, we officially entered the international market of the Belt and Road, encountered many unprecedented challenges, which caused many investors to worry, but we succeeded. The third transformation: In 2018, the state has a comprehensive layout of digital China, digital government, and digital economy, and many ministries, provinces, cities, districts and counties are doing digital transformation of government. Percentile Technology changed the main waterway from serving businesses to serving the government. We want to give our technological capabilities to government industries that need our technology, bringing them great value and efficiency gains.
On unicorns and data elements
Baoli Wealth Li Hongwei: After Percentile Technology was rated as a unicorn enterprise, what impact did this bring to the company?
Percentage Point Technology Su Meng: The name of unicorn enterprise is only a short-term, and in the long run, it still depends on the continuous breakthrough and continuous change of the enterprise. In fact, humans have entrusted many decisions to machines, from data to knowledge, forming decisions, thus guiding human behavior.
Up to now, we have put technical products into the knowledge construction of professional fields, and the state has set data as the fifth largest factor of production in the past two years, and data has become the most core element that truly drives economic growth and social governance. This is a milestone policy, Percentage Point Technology will always adhere to the steady and far-reaching, adhere to the product technology in each field to create unique value, we can prove the quantifiable value, from product technology layout to market layout, the entire modern information technology development has brought us opportunities.
The rise of China has brought us opportunities for overseas markets. After more than ten years of precipitation, the percentage point is now standing at a new starting point in the future. In the short term, percentage point technology is not the first, but in the long run, it must be one of the leading enterprises, and I am full of confidence in this.
Baoli Wealth Li Hongwei: From the perspective of investment, data has great value, data as an important factor of production, is the country's basic strategic resources, has been integrated into all fields of economic and social development. The investment industry attaches great importance to data intelligence enterprises, and data is an important resource and core advantage of technology enterprises, reflecting the core competitiveness of enterprises.
As the producer of "Exploring the Unicorn", Baoli Wealth actively promotes the construction of "Digital China". In the future, we will work with more unicorn enterprises to contribute to China's economic development!