On April 10, at the 2024 Digital Industry Chain Finance Industry Summit hosted by MYbank, Wu Lianfeng, Vice President and Chief Analyst of IDC China, released "Insight into Six Trends in the Industry Chain": Full-chain visualization and management, omni-channel digital customer acquisition, all-round intelligent penetration, global rebranding, all-green sustainable development, and deepening embedding in all finance.
Feng Liang, President of MYbank, said at the meeting that the "Dayan System", an industrial financial solution, will be comprehensively upgraded and become a drip irrigation system for cultivating new quality productivity, a growth tool for expanding domestic demand and promoting consumption, and promoting the digitalization of the service industry to stabilize employment.
Small standard 1: The industrial chain is showing six new trends, and financial services will achieve full-link penetration
Trend 1: The whole chain is visible and manageable, and 4 percent of enterprises will realize full-link digitalization
IDC predicts that by 2025, 40% of the world's top 2000 companies will realize the full-link digitalization from consumers to the supply chain. With the visualization of all links in the industrial chain, by 2028, 35% of the top 2000 enterprises will increase their industrial chain responsiveness by 15%.
Trend 2: Omni-channel digital customer acquisition, 7% of brands operate on multiple platforms
According to the survey, more than 7% of brand merchants have acquired customers in physical stores, Taobao, Douyin, Pinduoduo and other channels. IDC predicts that by 2026, the delivery efficiency of multi-platform orders for brand enterprises will be increased by 20% through digital industry chain management.
Trend 3: All-round intelligent penetration, 5% of enterprises will apply AI to supply chain management
With the full penetration of AI in all links of the industrial chain such as production, inventory, and transportation, IDC predicts that by 2026, 5 out of 10 Fortune Global 2000 companies will use AI tools to support the design of industrial chain processes, and enterprise operating costs will be reduced by at least 5%.
Trend 4: Global rebranding, going overseas will become the second growth curve of domestic brands
Nearly 40% of China's large enterprises, 30% of medium-sized enterprises, and 20% of small enterprises have implemented the strategy of going overseas, and 60% of small and medium-sized enterprises have plans to go overseas, and going overseas will become the second growth curve of domestic brands.
Trend 5: ESG will become one of the reference standards for financing for half of enterprises
IDC predicts that by 2026, ESG will become one of the financing reference standards for 50% of enterprises. By 2028, 50% of the world's top 2000 manufacturers will implement green development principles.
Trend 6: Deepen the embeddedness of all finance, and industrial chain finance will become the main path for small and medium-sized enterprises to obtain financing
IDC predicts that by 2026, 25% of financial institutions will use generative AI to help financial services deeply integrate in all aspects of the industrial chain, such as production, manufacturing, circulation, and consumption. By 2027, 35% of SMEs will access financing through an industrial ecosystem-driven supply chain finance platform.
Small standard 2: Serve new quality productivity, expand domestic demand, stabilize employment, and highlight the new value of Dayan system
"The upgrading and reform of the industrial chain requires matching industrial chain finance. Feng Liang, president of MYbank, said at the meeting. He believes that the three major economic propositions are the driving force for the upgrading of the industrial chain and the direction of financial services.
The first proposition is to develop new qualitative productive forces. The 2024 government work report emphasizes that it is necessary to vigorously promote the construction of a modern industrial system and accelerate the development of new quality productivity. The industrial chain is the carrier and focus of new productivity. Industrial chain finance should become a drip irrigation system for cultivating new quality productivity.
In the automotive industry, which is directed by the new quality of productivity, MYbank Dayan System is exploring innovative financial service models through AI large models. Through the ability of knowledge extraction, the large model understands data from massive information and forms an initial industrial chain map. It is like a searchlight, making 2.7 million small and micro enterprises in the whole industry chain "visible".
After seeing it, the AI can also help to see how they are doing. The large model plays the role of an intelligent production and research expert, which can interpret research reports and other information, analyze industry trends, gain insight into small and micro operations, and quickly generate small and micro business portraits and scores, providing reference for financial risk control. In the automotive industry chain, MYbank's Dayan system has provided credit lines for more than 1 million small and micro enterprises. Among the users who have obtained financial services, 64% have obtained pure credit loans for the first time, and nearly 3% have become science and technology enterprises, and have received a higher amount of support.
This service model will also be extended to communications, medical care, construction and other industries. Feng Liang said. At present, Dayan System has successfully built 142 industrial chain sub-chains in nine major industrial directions, and identified more than 21 million small and micro enterprises in the industrial chain.
The second proposition is to expand domestic demand. The Central Economic Work Conference has made "focusing on expanding domestic demand" one of the nine key tasks of China's economic work in 2024.
At present, more than 1,400 brands, including Mengniu, Haier, Honor, etc., have been connected to the Dayan system, and the industrial chain finance is used as a growth tool for launching new products and playing peak seasons. In addition, MYbank also cooperated with Huabei to promote the increase of brand sales in installments.
In January 2024, Honor released a new product, Magic6, in which the credit limit obtained by its dealers from MYbank was automatically increased, and the purchase amount from credit increased by 1.8 times year-on-year. In addition, Huabei's interest-free installment has cumulatively driven Honor's omni-channel sales to more than 1 million units, and 40% of consumers have upgraded their mobile phone configurations, driving an increase in customer unit price.
The third proposition is to stabilize employment. In recent years, the number of employees in the service industry has increased rapidly, and it has become the main channel for labor employment. "The new chain catering format represented by Mixue Bingcheng and Luckin Coffee has developed rapidly, and it is a promising place for industrial chain finance. Feng Liang said.
MYbank's Dayan System provides a 24-hour online "capital brain" for franchise brands, allowing all stores to realize full-link digitalization from cashiering, payment and settlement to multi-platform operation, and supporting brand management to improve efficiency.
The "dark horse brand" Bawang Tea Ji in the new tea drink improves human efficiency by accessing the Dayan system. Without increasing manpower, more than 2,300 new stores were added in a year, more than doubling. At the same time, 100% of the raw materials of Bawang Chaji store are purchased from the headquarters, which ensures the quality of tea drinks and brand reputation.
"Industry-oriented, finance-oriented. AI-driven industrial chain finance will become a new driving force for the upgrading of China's industrial chain. Feng Liang said, "MYbank will work with its partners to join this wave and integrate into the river of real economic development." ”