Feng Dagang, CEO of 36Kr: The business behavior in the next 20 years will be irreversibly fully online| WISE2021 Leader Conference

In the future of gales, for every new business explorer who is ready to rise with the trend and lead the way, it is time to discover and predict new trends and new opportunities. On May 12, the "WISE2021 Leader Conference" hosted by 36Kr was held in Shenzhen, where many well-known enterprises, representatives of investment institutions and experts and scholars in the industry jointly discussed the new trend of industry development, discussed the new value of industrial transformation, and discovered and focused on the key tracks that are most likely to become "new economic landmarks".

36Kr CEO Feng Dagang said in his opening speech that the Internet has developed in China so far, has completed the information online, commodity online, financial online, part of the service online, the epidemic has further accelerated the "business behavior online", the next 20 years all business behavior will be irreversibly fully online, the Internet will be more as a tool, rather than as an industry existence, all Internet companies, traditional companies, and finally will become new economy companies.

Feng Dagang believes that when all business behaviors are online, Internet behaviors such as network effects, industry barriers, and rapid expansion will be copied in traditional industries, and funds will accelerate the inflow, which will contain huge opportunities.

36Kr CEO Feng Dagang

Feng Dagang said when sharing the business innovation of 36Kr during the epidemic period, "Under the influence of the epidemic, 36Kr has also done a lot of innovative actions, including quickly launching the live broadcast system, undertaking online meetings and online investment promotion needs of enterprises and governments and other institutions; developing short video business based on pan-commercial content, which has now become the head account of platforms such as B station and Douyin; launching the enterprise service review platform, deeply involved in the digital transformation of enterprises, helping enterprises complete the effective transformation from offline customer acquisition to online customer acquisition. Continuously promote the continuous evolution of the business from shallow demand to more real and more basic needs of the industry."

Attached is the transcript of Feng Dagang's speech:

Dear entrepreneurs, investors, friends of 36Kr, good morning!

Thank you for participating in today's WISE2021 Leader Conference, yesterday we just held the China Fund Partner Future Summit in Shenzhen, and today we held the Leader Conference, and we also hope to make a comprehensive outlook on this year's market environment and industry development from the perspective of investors and entrepreneurs.

As we all know, the past year has been a year of change, the epidemic has changed everyone's plans, but if you look back, the epidemic has also brought some favorable changes to our industry.

Initially our business was fighting for "survival". At the beginning of the epidemic, domestic and foreign orders plummeted, and enterprises faced survival problems. Soon, the domestic epidemic was controlled, the epidemic broke out abroad, overseas production stagnated, orders recovered or even increased, and domestic manpower and raw materials were insufficient. At this time, it naturally transitions to the "development" period. Now that more than a year has passed since the epidemic and the industry has reshuffled, Chinese companies need to seek higher quality development. This coincides with the current general trend of China's economic development, which is essentially to pursue quantity to quality. Moreover, whether it is online office or digitalization, intelligence, all these trends, once they occur, are irreversible, which allows us to see huge new opportunities.

Trends affect our survival and development more than ever before. Innovation is more important than ever, not secondary. Responding to trends with innovation is the essence of commercial success in this era, and it is also the only way for every leader.

I want to share with you how we at 36Kr itself see trends in the media industry. At the beginning of the epidemic, we first launched our live broadcast business in a very fast time, moving a large number of companies and governments' offline activity needs online; later, we began to convert a large number of core content from graphics to audio and video, and won the warm welcome of nearly 10 million users on platforms such as B station, Douyin and Watermelon, Himalayas and so on. Since the end of last year, we have launched the 36Kr Enterprise Service Review Platform, which has begun to be deeply involved in the digital transformation of enterprises and help enterprises complete the effective transformation from offline customer acquisition to online customer acquisition. At present, 36Kr "Enterprise Service Review" has included nearly 10,000 enterprise service software, covering 15 major categories of enterprise services and more than 150 sub-categories such as general office, business intelligence, marketing and sales, human resources, etc. Our own story is an example of a constant combination of trends and changing user needs, and constantly going deeper into the more real and underlying needs of the industry.

In such examples, one of the most important trends we see is the industrial Internet, or the onlineization of traditional companies. We have become accustomed to the distinction between Internet companies and traditional companies in the past two decades, but in the next two decades, the Internet will sink into a new traditional industry, and all traditional companies will rise to become Internet companies. The traffic crisis that we were once anxious about will find new dividends in the process of the internet's continuous sinking.

Since the development of the Internet in China, it has completed the onlineization of information, commodities, finance and some services, and the epidemic has further accelerated the "online of business behavior", which will be a comprehensive, profound and long-term change.

In the past, such as office and education could only be realized online in individual scenarios, and the epidemic has forced more scenes in these areas to be online. Video conferencing is the most representative scene, and during the epidemic, about 200 million Chinese have tried video conferencing, which has replaced scenarios such as travel and travel to a certain extent. According to the data released by BOSS Direct Recruitment, the number of video interviews in the 10 days after the Spring Festival in 2020 is 20 times that of the first week of the autumn recruitment season in 2019, and online education is the industry employer that uses video interviews more intensively.

Industrial production is also being brought online. A representative scenario is remote mining, in 2020, a number of regions in The country piloted 5G remote excavators. In 2011, the "digital twin" was proposed in the United States, which painted an imaginative picture: in the future, anything that exists in the real world will be digitized. With the popularity of 5G and the acceleration of the industrial Internet of Things, this vision will accelerate.

More business practices will be online in the future. This will inevitably affect traditional business practices. The impact of electronic invoices on the express delivery business, which is currently being discussed a lot, is such a manifestation. The whole of China will issue billions of invoices and 600 million labor contracts every year, and such a huge number of "paper" parts have become electronic, and even affect some of the order volume of the express delivery industry. However, in this process, the efficiency of the entire industry will be greatly improved, according to the industry's information, the use of electronic contracts, contract management costs will be effectively reduced by 95%, the average cost of express delivery per contract will be saved by 15 yuan, and the cost of printing storage is close to 0.

When all business activities are online, a big advantage is that it is possible to achieve scale effects and even network effects, and this is the biggest charm and investment value of "Internet companies" in the past two decades, which will surely attract a large amount of capital investment, which will help the head players to "lightning expansion", establish industry barriers, and win-take-all.

With the emergence of the biggest trend in the next two decades, the door to the next era has slowly opened, and what we want to see is that countless innovators can show their strengths under such a trend, and eventually become the leaders of the times, 36Kr will continue to accompany the innovators, and dedicate all our resources and enthusiasm to their success. Thank you again for your participation, thank you.