Unicorn Companies: Indicators of New Economic Development

Unicorn companies are characterized by strong innovation capabilities, good growth potential, and high market recognition. They are the "weather vane" of new economic development and a typical representation of new productivity.

Recently, the Global Unicorn Enterprise Conference, a parallel forum of the 2024 Zhongguancun Forum Annual Meeting, was held at the Zhongguancun National Independent Innovation Demonstration Zone Conference Center. This conference was co-hosted by the Beijing Municipal Science and Technology Commission, the Zhongguancun Administrative Committee, the Beijing Municipal Talent Work Bureau, the Beijing Municipal Development and Reform Commission, the Beijing Municipal Bureau of Economy and Information Technology, and the governments of Haidian District, Chaoyang District, and Fengtai District. The conference was organized by the Zhongguancun Hi-Tech Industry Promotion Center, the Zhongguancun Unicorn Enterprise Development Alliance, and the Beijing-Tianjin-Hebei National High-tech Zone Alliance.

With the theme "Cultivating New Productivity and Developing New Economic Momentum," the conference focused on topics that are of great interest to unicorn companies, such as "Government and Market Economics in Cultivating Unicorn Companies." It discussed in-depth how unicorn companies can adjust and plan their next development strategies.

Entering the Trillion-Dollar Digital Economy Through Business Transaction Networks

At this Global Unicorn Enterprise Conference, Baiwang Cloud was listed in the "2024 China Unicorn Enterprises" and, as a representative of Beijing's unicorn companies, was invited to participate in the onsite awarding ceremony of "2024 Beijing Unicorn Enterprises." This recognition highlights the industry’s high regard for Baiwang Cloud's strategic vision and development prospects in leveraging business transaction networks to enter the trillion-dollar digital economy and drive industrial internet transformation.

During the conference, the Zhongguancun Unicorn Enterprise Development Alliance, in collaboration with KPMG Enterprise Consulting (China) Co., Ltd., Great Wall Strategy Consultants, Beijing Fangdi Economic Development Research Institute, and Tsinghua University China Science and Technology Policy Research Center, released the "China Unicorn Enterprise Development Report (2024)," the list of China’s unicorn enterprises, and the top 30 investment institutions in China’s unicorn enterprises (2024) for the first time. The report shows that currently, China has 369 unicorn enterprises, accounting for more than a quarter of the world's unicorn companies, second only to the United States.

Geographically, Beijing currently has 114 unicorn enterprises, ranking first in the country. In terms of total valuation, Beijing leads with a total valuation of $522.77 billion. As a company rooted in "Unicorn City" Beijing, Baiwang Cloud leverages the capital's rich resources and favorable policy environment, providing a solid foundation for the company's rapid growth and strategic expansion.

From an industry perspective, seizing the significant opportunities driven by the digital economy’s global economic growth, China’s unicorn enterprises have become a new force in promoting industrial digital transformation. Among the top 100 unicorn enterprises by valuation, 78% are closely related to the digital economy. Baiwang Cloud is undoubtedly a trailblazer in this digital economic transformation, with both its business and strategic positioning precisely aligned with the burgeoning development of the digital economy.

From a quantitative perspective, enterprises in software and information services are among the top five fields. As a leader in the software industry, Baiwang Cloud has built an efficient commercial digital transaction network, meeting the market’s urgent demand for digital solutions and setting a benchmark in the wave of industrial internet transformation.

From a valuation perspective, unicorn enterprises in artificial intelligence, fintech, and e-commerce have the highest average valuations, at $6.76 billion, $6.57 billion, and $6.19 billion, respectively. Baiwang Cloud’s strong performance and deep expertise in fintech reflect market recognition of its innovative capabilities and indicate its vast development potential and broad growth space in the digital economy era.

In the wave of the digital economy, practicing transaction digitization, industrial digitization, and asset digitization has become an inevitable trend. Baiwang Cloud, with its forward-looking strategic vision, deeply realizes that digital business value based on fiscal and tax digitization is taking shape. Through a full-process closed-loop commercial digital transaction network, Baiwang Cloud is building industry-level inter-enterprise linking and collaboration capabilities, empowering buyers, sellers, supply chain services, third-party service providers, and financial service providers, promoting high-value digital asset transactions, circulation, and confirmation of rights, thereby driving business transformation and upgrading the industrial internet, ultimately empowering enterprises.

Baiwang Cloud firmly believes that the digitization of invoices, documents, and certificates not only helps enterprises comprehensively digitize the information behind transactions, finance, and taxation, providing decision support for business operations based on data, but also, with the comprehensive rollout of digital transactions, will generate a massive amount of transaction data, forming the most valuable transaction-type data assets, and providing substantial potential for exploring data rights confirmation and data service standards.

In this process, Baiwang Cloud has also gained the trust of over 2,000 large enterprise groups and 23 million growing users, jointly embracing the fast track of digital growth.

Reshaping the Fintech Landscape with Inclusive Financial Achievements

Against the backdrop of global economic digital transformation, artificial intelligence, with its unique innovation and transformative power, is becoming a key force driving the development of the financial industry. As a significant driving force of the new round of technological revolution and industrial transformation, artificial intelligence is not only changing the operation mode of the financial industry but also reshaping the boundaries and connotations of financial services.

In this context, the 2024 Zhongguancun Forum Fintech Parallel Forum was grandly held at the Beijing Zhongguancun National Independent Innovation Demonstration Zone Conference Center. Baiwang Cloud was invited to attend, joining industry elites, experts, scholars, and entrepreneurs to discuss the future and promote high-quality development of digital finance. Additionally, Baiwang Cloud, in collaboration with Shandong Investment and Financing Guarantee Group Co., Ltd., participated in the fintech project cooperation signing ceremony, jointly empowering financial institutions to enhance data-driven risk control insights.

The Fintech Parallel Forum, themed "Artificial Intelligence Assisting Digital Financial Development," aims to gather global wisdom to jointly explore and foresee the deep integration and development prospects of artificial intelligence and digital finance. The forum was guided by the Beijing Municipal Science and Technology Commission (Zhongguancun Science Park Management Committee) and the Beijing Local Financial Supervision and Administration, and hosted by the People’s Governments of Haidian District and Xicheng District, the Asian Financial Cooperation Association, and Tsinghua University PBC School of Finance, with the Beijing Haidian District Local Financial Supervision and Administration, Zhongguancun Fintech Industry Development Alliance, and Zhongguancun Internet Finance Research Institute as the organizers.

Baiwang Cloud's Vision for the AI-Driven Financial Era

Baiwang Cloud believes that with the integration of online and offline businesses and the continuous development of data-driven and intelligence-driven applications, financial operations have entered the "AI+" era. This evolution promises new and higher growth driven by AI technology, necessitating a reshaping of related business processes. Although the financial industry is already at the forefront of innovation, numerous operational pain points still require the integration of digital means and cutting-edge technologies for a paradigm shift. Baiwang Cloud is pioneering a differentiated strategy in a unique track, covering large, medium, small, and micro customer groups. This approach not only aids enterprises in their digital transformation but also creates extensive opportunities for deeper data fintech applications in the future.

Data as the Core Element in the Digital Economy

In the digital economy era, data is the core element driving development. Invoices, as carriers of enterprise transaction data, can provide a wealth of information. With enterprise authorization, Baiwang Cloud can leverage and analyze this data to reconstruct the business operation landscape, assisting financial institutions in addressing inclusive finance challenges and achieving digital inclusive finance. This enhances data-driven capabilities in intelligent marketing and risk control.

Leveraging its core advantages in data and technology, Baiwang Cloud employs forward-thinking digital solutions and deep insights. Using enterprise invoice data as the entry point, it performs intelligent analysis to generate "credit profiles" and more comprehensive data links for enterprises. This constructs a big data-based risk assessment model, offering extensive and in-depth support to financial institutions. This approach addresses the traditional reliance on human judgment and experience, particularly aiming to alleviate the financing challenges of small and micro enterprises and promote inclusive financial development. Baiwang Cloud focuses on enhancing financial services to the real economy through five key aspects of finance.

Collaborative Innovation for the Future of the Digital Economy

As comprehensive digital upgrades continue to penetrate various industries, disruptive business innovations driven by the multiplier effect of data elements and the commercial model of building business transaction networks have become possible. Baiwang Cloud leads the industrial internet business transformation and invites more partners to join in practicing digital business platforms. By empowering partners, industries, and ecosystems, Baiwang Cloud aims to co-create a future in the digital economy.