Zheng Zeyu of Zhiyi Technology was a guest of "Co-Creation" to talk about the latest innovations and insights under the wave of digitalization
At 19:30 on the evening of August 18,Zheng Zeyu, founder and CEO of Zhiyi Technology, was a guest on the "Co-creation" column, and the only well-known fund in Asia to be selected into the two major lists of CB Insights——CE Innovation CapitalJoin us to discuss the latest innovations and insights in the digital wave.
It is reported that "Co-creation" is a new dialogue live broadcast column launched by CreditEase Wealth, focusing on a track in each issue, inviting well-known investors in various fields and entrepreneurs under the new economic wave to share their "co-creation".
The first issue of "Co-Creation" on August 18 is "Digitalization of the industryThe participating guests are:
Bingze Gu, Partner of CEiC, has been awarded the "Forbes 30 Under 30 Elite List Winner" for his outstanding investment ability;
Yuning Feng, Partner of CEiC, an international senior investor with more than 10 years of experience in private equity investment;
Zheng Zeyu, founder and CEO of Zhiyi Technology, the author of the first artificial intelligence reference book in China - "TensorFlow Practical Google Deep Learning Framework", and in 2022, Zhiyi Technology was selected as "China's Top 100 Future Unicorns" and "2022 Hangzhou Quasi-Unicorn Enterprise List";
Xu Pingjun, founder and CEO of Aozhe, the first person in China's low-code practice, Aozhe serves 60% of China's top 500 companies.
2 investors and 2 entrepreneurs, respectively, from the "future trend of digitalization" and "what help can digitalization bring to traditional clothing enterprises?" "How can digital tools better help enterprises transform? "How to select companies that can truly create value from thousands of digital projects? These four perspectives share real views on industrial digitalization.
Regarding the "Future Trend of Digitalization", Feng Yuning, Partner of CEiC, expressed his views in the live broadcast:
At the beginning of its establishment, CEiC was mainly invested in financial technology, and then gradually extended toIndustrial digitalization, cutting-edge technology, enterprise services, and consumptionand other fields. Zhiyi and Aozhe are our layout on the core theme of industrial digitalization and digital industrialization.
We believe that almost every industry has opportunities for digital upgrades. It involves sales, operations, business development, operation and maintenance automation, process automation, data collection, data processing and many other aspects.
Whether from the perspective of the economic environment or the market environment, digital transformation is very much in line with the direction of market demand.
At the macro level, digitalization is a major driver of economic growth. Under the Sino-US trade conflict, how to improve the efficiency of China's industry and transform the value of better products and services is an unavoidable issue, and policies at the national and local levels are working hard to achieve this.
从市场需求来看，60%企业已开始做深刻的数字化转型。但大部分还都在初步尝试，对于数字化升级的产品和服务，市场具有巨大的需求缺口。
How to lay out digitalization?
We do not chase fresh projects on the cusp of the storm, but more on the basis of understanding the application of technology, looking for projects that can go through the cycle and provide long-term development impetus for the industry.
Digitalization includes digital industrialization and industrial digitalization.
数字产业化可理解为数据行业，包括电信、软件和信息技术服务、互联网等。产业数字化则代表了各类经济方向，通过数字化带来的业务加成和增长。
In 2022, the scale of industrial digitalization has reached 37 trillion yuan, with a year-on-year growth rate of 17.2%, and digitalization has brought considerable competitive advantages to enterprises.
In response to the question "What can digitalization bring to traditional clothing enterprises?" Zheng Zeyu made his own answer:
With the development of the times and the improvement of consumption levels, domestic clothing consumption has undergone two very big changes. One is that the demand for personalized consumption has become stronger, and the other is that the recognition of the brand has become lower.
One style, a difference of millions.
From 2010 to 2020, the clothing market grew by only 2-3 times, but the number of styles increased by 10-15 times, and the number of buyers of the same clothing decreased by 5-10 times.
Make accurate decisions based on global fashion data.
For the apparel industry, the difference between one or two models may lead to a business gap of several million. So how many new styles, what kind of style to design, and how to decide?
Traditional garment companies are meeting to discuss, and it is difficult to reach a unified understanding. However, Zhiyi collects all fashion-related data from around the world, including data from e-commerce, social media, and professional fashion websites, and conducts data analysis. Apparel companies test and compare data to discuss, make accurate decisions, from the customer statistics we serve,The average increase in sales rate by 30% to 50% is the change that digitalization has brought to them。
Up to now, in terms of assisting apparel brands to gain insight into fashion trends and discover popular styles, Zhiyi Technology has served thousands of fashion brands and platforms such as UR, Vipshop, Ayazhi, Trendy, Peacebird, Ubras, Golis, Bananai, etc.
When it comes to "How can digital tools better help enterprises transform?" Xu Pingjun, founder and CEO of Aozhe, said:
After the mobile Internet took up, there were several important changes.
First, the system is not limited to white-collar workers sitting in the office, and the tentacles of enterprise management can be longer.
Second, there are a lot of changes in the market, which need to be quickly responded to based on data, and the data platform needs to be quickly improved and iteratively upgraded.
As the digital transformation of enterprises accelerates, there is a huge digital divide between the exponentially growing business needs and traditional IT production capacitySo we started thinking about how to essentially address the growing and emerging business needs of our customers, and that's how we saw the low-code trend.
Low-code has two characteristics. First of all, it has personalized characteristics and can quickly respond to the market and customer groups according to the business module. Secondly, low-code can meet the needs of rapid iterative development of the system and has the characteristics of agility.
Aozhe has successively launched tritium cloud, cloud hub, Youge and other products to solve the last mile problem of enterprise digitalization. Through the combination and matching of products, it can meet the complex needs of large enterprises, and it can also come up with any product alone to empower small and medium-sized enterprises.
Regarding how investors can select companies that can truly create value continuously, Feng Yuning, partner of CEiC, shared his criteria:
What we focus on is the underlying industry served by the enterprise, whether the market size is large or not, and what the potential is.
As a typical representative of general-purpose enterprise services, Aozhe covers all enterprises with development needs in China and is a potential customer pool of tens of millions. The clothing industry, which Zhiyi is more focused on, is also a trillion-level market. When we lay out the project, we have 3 core indicators:
First, whether it can bring about quantifiable efficiency improvements;
second, whether the enterprise itself can quickly achieve revenue growth and achieve sustainable revenue growth every year;
Third, the most important thing is the entrepreneurial spirit, which must have strong management ability, technical control ability, and adhere to integrity and steady operation.
This is the point we are most concerned about, and it is also the standard for us to continue to explore high-quality enterprises in related fields in the future.
About CE Innovation Capital:
Founded in 2016, CE Innovation Capital ("CEiC") invests in companies in the fields of global fintech, cutting-edge technology, enterprise service software, digital consumer platforms, Web 3.0 and blockchain.
In 2020, it was listed as one of the "Top 10 Best Investment Institutions in China's Fintech Industry", and in 2021, it was named the best fintech investment institution of the year by The Asset, a well-known Asian media. CB Insights ranked 7th in the "2021 Global Best Industry Fund Ranking" and 3rd in the "2021 Q4 Global Fintech Industry Fund Ranking".
Hangzhou Zhiyi Technology Co., Ltd. (hereinafter referred to as "Zhiyi Technology") is a national high-tech enterprise driven by artificial intelligence technology, committed to the standardization of data-based trend discovery, explosive mining and supply chain organization capabilities, and creating a supply chain platform for intelligent clothing design.
Zhiyi Technology was established in February 2018 and received tens of millions of US dollars in Series A financing in the same year; In 2021, it completed three consecutive rounds of financing of nearly US$100 million, led by Hillhouse Venture Capital, Wanwu Venture Capital, Xianghe Capital and CE Innovation Capital, followed by old shareholders Legend Capital and Yonghua Investment, and was shortlisted for the "Hangzhou Quasi-Unicorn Enterprise List" for two consecutive years in 2021 and 2022.
Relying on core technical capabilities such as image recognition, data mining, and intelligent recommendation, Zhiyi Technology has continuously upgraded its service system, and independently developed a series of data intelligence SaaS products in the apparel industry, such as Zhiyi, Zhiqian, and Meinian, to provide core functions such as fashion trend prediction, design empowerment, and intelligent style recommendation for clothing enterprises and designers, and expand to the downstream of the industrial chain through the SaaS entrance, providing one-stop supply chain platform services for design and flexible production.
presentlyIn terms of assisting apparel brands to gain insight into fashion trends and discover popular styles, Zhiyi Technology has served thousands of fashion brands and platforms such as UR, Vipshop, Ayazhi, Trendy, Peacebird, Ubras, Golis, Bananai, etc.
