ByteDance Named World's Strongest AI Startup by CB Insights, Six Companies Announce Business Upgrades | Source Code Capital Briefing · December

源码资本·December 29, 2017·0·0

【Source Code Capital Journal】Here we record our teammates' step-by-step progress, share the joy of growth, and look forward to an even brighter future.

To Our Readers

Three and a half years since Source Code Capital's founding, the many member companies of our growing family have flourished into a thriving forest. Ma Hui has become a platform for exchange among Source Code Capital's LPs, partners, and entrepreneurs. Today, we launch a new column: Ma Hui Journal, where we record the incremental progress of our partners, share in the joy of their growth, and look forward to an even brighter future.

Hui

Journal

Briefing

"Financing"

Yimi Dida closes hundreds of millions of RMB in Series B+ funding

"Upgrades"

Meituan restructures to focus on four LBS scenarios

Lianjia and Tencent Cloud partner to build real estate service ecosystem

Nongfenqi signs strategic cooperation agreement with Xiamen Rural Commercial Bank

Moran AI launches new intelligent decision engine

CHJ Automotive officially releases first product SEV images

Yimi Dida fully implements market iron triangle strategy

"Quotes"

Zuo Hui: Enabling more people to have a place to live

Dai Shuaijiang: Only by going heavier can you survive

"Honors"

Toutiao named to CB Insights' global top AI startups list

Zhirong Group, ABC Technology, Moran AI, Huishoubao, and Yimi Dida win "New Business 100 Annual Awards"

Huishoubao, Zhirong Group, Yimi Dida, Moran AI, and Sales Crown Network Technology win "2017 Chuangyehaima TOP100"

Huishoubao, ErGeng, YQN Logistics, Nongfenqi, Zhirong Group, Car300, and eBaoyang win "2017 China Top 100 Innovative Growth Enterprises"

Milestone

Yimi Dida closes hundreds of millions of RMB in Series B+ funding

On December 25, Shanghai Yimi Dida Supply Chain Management Co., Ltd. announced that it had secured a strategic investment of hundreds of millions of RMB led by China Development International Investment Corporation, the equity investment platform under China Development Bank. With this capital injection, in 2017, Yimi Dida gradually transitioned from its original light operations management platform to a hybrid heavy-and-light operations management platform, completing equity restructuring across 12 provincial-level regions including core areas. The investors will fully leverage their financial advantages and industrial resources to accelerate Yimi Dida's development.

With its innovative business model, excellent product services, and leading operational efficiency, Yimi Dida has repeatedly won favor from capital markets. From September 2016 to July 2017, the company completed Series A, A+, and B rounds of financing in succession, earning strong recognition from Source Code Capital, Prologis, Cathay Capital, K2VC, and CDH Investments, with cumulative fundraising reaching 500 million RMB. These investors brought not only substantial capital but also rich industry resources and professional management expertise in logistics, finance, and other fields.

What's new

Meituan announces organizational restructuring

Focusing on four LBS scenarios

Meituan announced its latest organizational restructuring. Meituan will focus on four LBS scenarios: in-store, to-home, travel, and transportation, upgrading its front-end business system, strengthening middle- and back-office support and assurance capabilities, and upgrading its comprehensive management system. This marks Meituan's first organizational restructuring since completing a new round of $4 billion in financing.

On the front-end business system, Meituan established new In-Store Business Group and New Retail Business Group, led by presidents Zhang Chuan and Huiwen Wang respectively. At the same time, a Transportation Business Unit was established, also led by Huiwen Wang. Based on this restructuring, Meituan will build four major business systems: the new In-Store Business Group, New Retail Business Group, Hotel & Travel Business Group, and Transportation Business Unit. Meanwhile, middle- and back-office system construction was also a key focus of this restructuring. In this upgrade, Xing Wang personally led the establishment of the Data Strategy Committee, Business Management Committee, and Security Committee, with Shaohui Chen and Rongjun Mu serving as executive deputy directors of the Business Management Committee and Security Committee respectively.

Lianjia and Tencent Cloud reach strategic cooperation

Building real estate service ecosystem together

On December 14, Lianjia and Tencent Cloud signed a strategic cooperation agreement in Beijing to jointly build a real estate service ecosystem. As a data-driven full-value-chain real estate transaction platform, Lianjia has continuously optimized consumer service experience and promoted healthy industry development through the construction of big data in real estate services and the development of various digital products. Through this strategic cooperation, Lianjia will leverage Tencent Cloud's big data and artificial intelligence capabilities to further optimize real estate transaction processes, improve housing transaction efficiency, and carry out close cooperation in big data security protection.

The strong partnership between Lianjia and Tencent Cloud not only represents an early attempt by real estate service enterprises to migrate to the cloud, but also provides effective experience for the real estate service industry's further exploration of data-driven management and intelligent experiences, further enhancing the overall system's scalability, reliability, and security.

Nongfenqi and Xiamen Rural Commercial Bank

sign strategic cooperation agreement

On December 1, Nongfenqi, Xiamen Rural Commercial Bank, and Sierte Fertilizer Industry Co., Ltd. signed a tripartite strategic cooperation agreement, announcing comprehensive strategic cooperation.

This cooperation will take Fujian region as a pilot, launching a series of "agriculture, rural areas, and farmers" service projects with guiding significance and demonstration value. The cooperating parties will deeply cultivate agricultural production scenarios in the agriculture, rural areas, and farmers domain, solving farmers' financing difficulties regarding limited channels, hard access to capital, and high costs. At the same time, they will break individual limitations, allowing farmers' scattered orders to achieve scale through the platform, gradually reducing production costs. The three parties will fully leverage their respective advantages to jointly promote cooperation and do well in "agriculture, rural areas, and farmers" service work.

Moran AI launches new

intelligent decision engine MorUI 2.0

On December 20, Moran AI held its global debut conference "Giving Voice to Everything" in Beijing. At the conference, Moran AI heavily launched the upgraded version of MorUI — the new "Intelligent Decision Engine" MorUI 2.0. The biggest highlight of MorUI 2.0 is its intelligence, which is reflected not only in the intelligent "GUI+VUI" interaction method, but also in intelligent decision-making through "personalized recommendations, tailored experiences for thousands of users." Additionally, MorUI 2.0 can intelligently match scenarios, achieving efficient and natural interaction and services.

Moran AI CEO Shuaijiang Dai believes that under the new historical opportunities of AI, Moran AI must actively undertake two missions: enabling machines to better understand the world through a series of core AI technologies; and using AI to create more natural and efficient interaction methods, helping traditional industries upgrade intelligently.

CHJ Automotive officially releases first product

SEV official images

Recently, CHJ Automotive officially released the first official images of its SEV. The new vehicle is positioned as a small low-speed electric vehicle. It is reported that the vehicle will first launch shared mobility services in Paris and Los Angeles, and will officially debut in 2018, with future domestic pricing possibly below 40,000 RMB.

In terms of exterior, the vehicle has a very compact design, adopting a two-door, two-seat layout. Due to its narrow body width, the interior seats adopt a front-and-rear layout design. It is reported that one standard parking space can accommodate four SEV vehicles, and it features exterior parking functionality, reducing urban road space usage.

In terms of power, the new vehicle adopts pure electric drive, with a maximum range of 100 kilometers, and can charge without a charging station, using a 220V plug for direct charging. At the same time, the interior battery is detachable and replaceable, convenient for carrying home to charge.

Yimi Dida fully achieves

East China, South China, North China market iron triangle strategy

Recently, Yimi Dida announced the grand launch of its Fujian provincial network, marking a new chapter for the Fujian region. Yimi Dida Network Center head Meng Bao stated that Yimi Dida has fully achieved its market iron triangle strategy across East China, South China, and North China, with a dense nationwide service network, building China's strongest logistics network platform. This grand launch of Yimi Dida's Fujian provincial network marks a new chapter for the Fujian region, providing more efficient logistics services for customers in Fujian and across the country.

Quote

Zuo Hui (Chairman, Lianjia)

"A better life is the higher pursuit of the people in the new era. In the domain of housing, whether renting, buying, or elder care, throughout the entire life cycle, Lianjia is continuously improving to make living more quality-assured and protected, making it possible for more Chinese families to achieve 'having a place to live.' The recently concluded 19th Party Congress also raised the issue of inadequate and unbalanced development. Today, this same problem exists in housing. Looking at all of China, our number of housing units divided by number of households already exceeds one, but in some large cities, it is far from enough. For example, taking Beijing, our existing housing stock today totals 7 to 7.5 million units, 500 million square meters. Today this city houses 22 million permanent residents, averaging 26 square meters per person, much lower than the average level. So sometimes whether housing is sufficient is also a very important question."

Shuaijiang Dai (Founder & CEO, Moran AI)

"Given my personality, I wouldn't choose a market that has never been validated. Perhaps there are selling points, but do speakers have clear sales channels, a clear industry chain? Although at this stage it may have market education significance, this emerging industry is relatively light and contains too much uncertainty. The first condition for a company to survive long-term is not to first enter a lighter market. We could also give a mobile app, like Maoyan Movies, a voice dialogue system, but their chain is simply too short. Doing B2B business, relying on this kind of 'lightweight transformation,' what money can you make? I believe that only by going heavier can you survive."

Honor & Awards

Toutiao named to CB Insights

global top AI startups

Silicon Valley-based data company CB Insights released its second annual global top AI startups list AI 100 in San Francisco, selecting 100 startups with leading AI technology worldwide in 2018. Toutiao was selected to this list as a representative of Chinese AI enterprises. Additionally, Drive.ai, which Andrew Ng recently joined, and British chip company Graphcore, invested in by DeepMind's Demis Hassabis, also made the list.

It is reported that this list's nomination scope covered over 2,000 startups across 25+ global sectors, with only 100 ultimately making the list, making competition fierce with a selection rate below 5%. CB Insights' list selection criteria include investor profile, technological innovation, team strength, patent activity, Mosaic score (Note: Mosaic score is an algorithm invented by CB Insights specifically for measuring overall development and growth potential of unlisted companies), financing history, valuation, and business model. This year's selected enterprises span healthcare, cybersecurity, AI hardware, marketplaces, robotics, education, and other industries.

Zhirong Group, ABC Technology, Moran AI,

Huishoubao, and Yimi Dida

win "New Business 100 Annual Awards"

Recently, 36Kr's fifth WISE Conference — "WISE2017 New Business Conference" was successfully held. At the conference, the 2017 "New Business 100 Annual Awards" were heavily released. Source Code Capital portfolio company Zhirong Group won "High-Growth Company of the Year"; ABC Technology and Moran AI won "Best Series A Company of the Year"; Huishoubao and Yimi Dida won "Best Series B Company of the Year".

This list was authoritatively released by 36Kr in conjunction with top business media, business schools, and renowned investors. Focusing on trend value and looking toward the future of business, it aims to recognize those new business pioneers who performed outstandingly in 2017, grew rapidly, dared to break conventional and traditional understanding, used innovation to lead industry development and progress, and possess future potential. "100" represents not merely the number of awards, but more importantly the backbone of new business's future. After a selection process including open online registration, nomination by judges, preliminary expert selection, online public voting, and final judging, over 100 enterprises (or leaders) ultimately emerged from thousands of candidates.

Huishoubao, Zhirong Group, Yimi Dida,

Moran AI, and Sales Crown Network Technology

win "2017 Chuangyehaima TOP100"

On December 15, the 10th Annual Entrepreneurs Conference was held at Beijing National Convention Center. At the conference, the "2017 Chuangyehaima TOP100 — China's Most Promising Startups" list was solemnly released. This marks the third consecutive year that Chuangyehaima has published its "Most Promising Companies" list. Over 20 companies from previous years' lists have already listed on U.S., A-share, and Hong Kong stock markets, with some enterprises' market capitalization or valuation exceeding one billion or ten billion U.S. dollars, such as JD.com, Qihoo 360, Momo, Baofeng Group, Xiaomi, DiDi, and Mobike. List registration began on October 26. Online voting launched on November 14. By the time online channels closed on November 26, 485 projects had registered, with total votes exceeding 1.1 million. Source Code Capital portfolio companies Huishoubao, Zhirong Group, Yimi Dida, Moran AI, and Sales Crown Network Technology were named to "2017 Chuangyehaima TOP100."

Huishoubao, ErGeng, YQN Logistics,

Nongfenqi, Zhirong Group, Car300, and eBaoyang

win "2017 China Top 100 Innovative Growth Enterprises"

Recently, the "Cyzone 100 Future Leaders Summit & 2017 Cyzone Annual Conference" hosted by Cyzone was held at Beijing National Convention Center. With the theme "Integration + Trends," the summit revealed the 2017 China Top 100 hottest innovative growth enterprises list. Source Code Capital portfolio companies Huishoubao, ErGeng, YQN Logistics, Nongfenqi, Zhirong Group, Car300, and eBaoyang all made the list.

It is reported that the Cyzone 100 Future Leaders Summit is the most authoritative entrepreneurship barometer in China's startup market, while "Cyzone Innovative Growth Enterprises 100" is China's most influential innovation and entrepreneurship company selection, known as the Oscar of the entrepreneurship circle. It not only pays attention to the most promising startups and discovers capital trends, but also reveals annual entrepreneurship trends. As one of mainland China's most authoritative entrepreneurship service platforms, this marks Cyzone's 9th consecutive year of launching the "Cyzone 100" list selection activity, which has become China's annual list of most promising new elites receiving VC investment. Over 20 companies from previous years' lists have already listed on U.S., A-share, and Hong Kong stock markets, with some enterprises' market capitalization or valuation exceeding one billion or ten billion U.S. dollars, such as JD.com, Qihoo 360, Momo, Baofeng Group, Xiaomi, DiDi, Mobike, and others.

View more Ma Hui Journals

Ma Hui Journal · November 2 overseas market financing acquisitions, 6 enterprise strategic upgrades, 7 winning multiple major awards

Ma Hui Journal · October 3 additional financings, 1 NYSE IPO, 6 B2B companies winning multiple major awards

Ma Hui Journal · September | 4 global unicorns on list, 1 files application, 2 receive additional financing

Ma Hui Journal · August | Financing, Upgrades, and Honors

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