China's leading industrial big data analysis and application service platform Mingxin Digital Intelligence , has announced the receipt of nearly RMB 100 million in Series A+ financing. This round was supported by CDH investments, with China Renaissance("CR") as the exclusive financial advisor.
Established in 2017, Shenzhen Mingxin Digital Intelligence Technology Co., Ltd. is committed to building a comprehensive industry management evaluation system and inclusive financial service management platform for the industrial Internet platform and small and micro enterprises, and improving the efficiency of industrial-financial integration solutions. The company focuses on three major scenarios: industrial-financial services, cross-border compliance services, and digital services for the automotive industry, and has achieved in-depth digital applications. It has also taken the lead in proposing the "FIW" service mode, which promotes industrial digitization and builds an industrial credit system based on digitization as a link for credit information exchange between industry participants and financial institutions, empowering all participants in the industry. Mingxin Digital Intelligence provides a full range of services for finance and various industries, including Financial Technology, Industrial Internet, and Whole Ecology, which is the "FIW" model.
Mingxin Digital Intelligence applies leading technologies such as cloud computing, Internet of Things, blockchain, big data, and artificial intelligence, and has built a rich and stable product matrix based on user needs. Its independently developed industrial management evaluation system has been widely used in different fields such as automobiles, cross-border, textiles, glass, and MRO.
Currently, Mingxin Digital Intelligence has successfully served several top industrial Internet platforms and reached cooperation agreements with banks such as China Construction Bank, Bank of China, Industrial and Commercial Bank of China, Postal Savings Bank of China, Guangdong Huaxing Bank, Bank of Communications, and Shanghai Bank.
The development of cross-border e-commerce has become an indispensable part of global trade. However, due to issues such as taxation, legal compliance, and regulation between different countries, cross-border e-commerce enterprises face huge challenges in compliance. Therefore, the cross-border compliance service track has also attracted more investors' attention. Currently, the domestic cross-border compliance service market is mainly divided into two modes: self-operation mode and platform mode.
The self-operating mode refers to the cross-border e-commerce enterprise setting up its own compliance service team to handle customs declaration, tax declaration, and other related work for the products it sells. This type of mode allows for better control over processes and information security but requires a relatively high investment in manpower and resources, resulting in higher costs. On the other hand, the platform mode provides services from third-party cross-border compliance service platforms to solve compliance challenges for cross-border e-commerce enterprises. These platforms usually offer standardized compliance processes, technical support, risk management, and other services. The platform mode reduces the cost and risk for enterprises but poses a great test for the reputation, service quality, and data security of the platform.
There is still significant room for growth in the market share of cross-border compliance services. According to data released by the State Post Bureau, the national e-commerce transaction volume reached RMB 42.3 trillion in 2021, an increase of 19.6% year on year. Online retail sales reached RMB 13.1 trillion , an increase of 14.1% year on year. Cross-border e-commerce import and export volume reached RMB 1.92 trillion, an almost tenfold increase over five years. At the same time, due to differences in domestic and foreign laws and regulations, the cross-border compliance service market will also differ across regions.
Currently, the major participants in the cross-border compliance service industry in China include customs clearance companies, logistics companies, cross-border e-commerce platforms, and third-party cross-border compliance service platforms. Representative companies in this field include Cainiao Network（CHINESE:菜鸟网络）, which offers one-stop cross-border e-commerce solutions certified by the General Administration of Customs, global logistics service platform Fengqiao International Group Co., Ltd.（CHINESE:丰桥集团）, and cross-border logistics service provider YunExpress Technology Co., Ltd.（CHINESE:云途科技）. Among these, third-party cross-border compliance service platforms, as neutral, professional, and efficient service providers, will gradually become the main force in cross-border compliance services in the fiercely competitive cross-border e-commerce industry.
At this critical stage, the ESG2023 "the US Sub-Forum" will be held in Shenzhen on June 2, 2023. EqualOcean will invite the representatives of academic institutions and investment institutions, as well as company leaders, from the International Studies Institute of Fudan University, Sun Yat-sen University, Jinan University School of International Relations, Gaorong Capital, Vision Plus Capital, FreeS Fund, ZWC Partners, Source Code Capital, Niu Technologies, TikTok, SHEIN, NEIWAI, miHoYo, Tuya, MINISO, Dreame, Ecovacs, WYBOTICS, Lifen, and UniUni.EqualOcean analysts will also release the US Report 2023 at the US Sub-Forum, summarizing business opportunities and best practices for expanding into the US market in the new stage. Click the link to apply and scan the QR code below to learn more about ESG2023.
