Bairong Inc. Founder & CEO Presents at the J.P. Morgan 2023 Global Technology, Media & Telecommunications Conference in Asia

Hong Kong, China, November 16, 2023 – On November 14, 2023, Bairong Inc. (“Bairong” or the “Company”; HKEX: 6608) participated in J.P.Morgan 2023 Global TMT Conference in Hong Kong. Mr. Zhang Shaofeng, founder and CEO of the company, presented at the panel discussion on China AI - Adoption, Challenges and Opportunities.

Zhang Shaofeng believes that AI industry is currently evolving in two directions. One is the underlying technology research and development innovation, and the other is to find real business value in application scenarios. “China is still catching up with other countries in terms of underlying technological innovation, while in regard of the AI application, China has always been at the forefront of the world.

When talking about how to make AI technology practical, Zhang Shaofeng said: “Help the clients reduce costs, but more importantly, directly help them create incremental business and revenue.” Bairong has been exploring in both areas, with the latter increasingly becoming the main development direction.

Zhang Shaofeng said, in many vertical industries, the commercial institutions tend to only focus on top tier customers and give up low tier customer groups. How to find the incremental value of existing customers? Commercial banks for example, it’s very difficult to only rely on manual services. Bairong helps the banks to reach out these existing customers through AI products like AI chatbots. During the intelligent interaction process, Bairong combines discriminant AI and generative AI technology to formulate complete marketing and operation strategy. "This helps the banks get amounts of account managers, allowing ordinary people to enjoy personalized banking services, and truly realizing inclusive finance."

This is why Bairong’s BaaS (Business as a Service) business has become a rapidly growing business model. According to the 2023 interim report, Bairong’s BaaS business revenue in the first half of the year reached RMB811.9 million, a period-over-period increase of 36%. Among them, the Financial Scenario contributed a revenue of RMB492.1 million, representing an increase of 55% period-over-period; the gross transaction value reached RMB21.26 billion, increased by 72% period-over-period.

About Bairong Inc.

Bairong Inc. is a leading artificial intelligence (AI) technology services company. The Company applies natural language processing (NLP), privacy computing, machine learning, cloud computing and other technologies to provide services to enterprises through model-as-a-service (MaaS) and business-as-a-service (BaaS). The MaaS services leverage discriminant AI to digitalize the know-your-customer (KYC) and know-your-product (KYP) process for enterprises, by analyzing users’ risk, willingness, and capability. The BaaS services use discriminant AI to analyze and stratify users into groups, and develops generative AI-powered chatbots using human natural languages to in Bairong Inc. is a leading artificial intelligence (AI) technology services company. The Company applies natural language processing (NLP), privacy computing, machine learning, cloud computing and other technologies to provide services to enterprises through model-as-a-service (MaaS) and business-as-a-service (BaaS). The MaaS services leverage discriminant AI to digitalize the know-your-customer (KYC) and know-your-product (KYP) process for enterprises, by analyzing users’ risk, willingness, and capability. The BaaS services use discriminant AI to analyze and stratify users into groups, and develops generative AI-powered chatbots using human natural languages to interact with users. The Company’s products and services are widely used by enterprise customers in banking, consumer finance, insurance, e-commerce, automobiles, logistics, ticketing, energy, construction and other industries.

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