Decathlon has been using RFID technology for a long time. When selecting RFID solution suppliers in China, Decathlon put forward a number of strict requirements, covering technical performance, security and privacy protection, cost and benefit analysis, and after-sales service and support. These requirements are aimed at ensuring that the RFID solution can meet Decathlon's needs in supply chain management, retail operations, etc., and improve overall operational efficiency and customer shopping experience.
In addition, due to the large number of categories and quantities of goods sold in Decathlon shopping malls, Decathlon also requires RFID solution suppliers to have the ability and experience to implement RFID solutions on a large scale. In the end, Invengo, the first RFID listed company in China, stood out. While winning a large order, it also proved that Chinese RFID companies have the ability to implement large RFID projects. Recently, the author interviewed Zhang Yongtao, the marketing director of Shenzhen Invengo Information Technology Co., Ltd., to learn from him the success and future development plan of Invengo.
Zhang Yongtao, Marketing Director of Invengo
Thank you Mr. Zhang for accepting our interview. Could you please briefly introduce Invengo?
Shenzhen Invengo Information Technology Co., Ltd. was established in December 1999 and listed on the Shenzhen Stock Exchange in August 2007 with the stock code 002161. It is a representative enterprise of China's Internet of Things industry and a global leading supplier of radio frequency identification (RFID) products and Internet of Things solutions.
Invengo focuses on the research and development of RFID and Internet of Things core technologies and overall solutions. The company has more than 100 independently developed RFID chips, electronic tags, readers, writers, equipment and other products, with a total of more than 600 authorized patents and proprietary technologies, and has participated in the formulation and formal release of more than 30 industry standards, and has released a total of 156 corporate standards.
At present, Invengo focuses on three major businesses: railways, smart culture, and apparel retail. At the same time, it vigorously develops vertical application fields of RFID Internet of Things in medical, power, tobacco and other emerging industries, and provides Internet of Things products and solutions based on RFID technology to customers in various industries.
In what aspects does Invengo's core competitiveness in the fields of RFID and the Internet of Things manifest itself?
Compared with other companies, Yuanwanggu has the following advantages:
1. Deep brand accumulation and technology accumulation.
Yuanwanggu has been involved in RFID application research since 1993. It is the earliest high-tech company in my country to develop RFID technology and the first RFID listed company in China. At present, Yuanwanggu has established a global marketing network with Shenzhen as its headquarters, covering most parts of China, Singapore, the United States, South Korea, Europe, Australia and other domestic and foreign regions, providing high-performance products and solutions to global customers. In terms of development history and market scale, Yuanwanggu has accumulated deep technical and brand heritage.
2. Focus on R&D and continuous innovation
Yuanwanggu has Shenzhen Radio Frequency Identification Engineering Technology Research and Development Center, Internet of Things Application Engineering Laboratory based on RFID technology, Enterprise Postdoctoral Research Workstation, Radio Frequency Equipment Testing Laboratory, and has built a world-leading RFID product dynamic performance testing center; the company has obtained more than 600 authorized patents and proprietary technologies, and has more than 100 self-developed RFID chips, electronic tags, readers, equipment and other products.
3. One-stop integrated service, rapid response to the market
With excellent technical level, strong market background, rich experience accumulation and professional talent team, Yuanwanggu has the comprehensive capabilities of overall design of intelligent solutions, personalized development of software and hardware equipment, and rapid supply of production needs. In addition, it actively introduces cutting-edge technologies such as AI big data, cloud computing, AR/VR, and metaverse, which can respond to market needs as quickly as possible and provide high-level and highly adaptable intelligent services for various scenarios.
In which industries are Invengo's RFID solutions widely used? Could you please share some typical application cases?
In the Internet of Things industry, Invengo focuses on three major businesses: railways, smart culture, and apparel retail. At the same time, it vigorously develops vertical application fields of RFID Internet of Things in medical, electricity, tobacco and other emerging industries, and provides Internet of Things products and solutions based on RFID technology to customers in various industries.
In the railway field, the China Railway Car Number Automatic Identification System participated by Invengo is one of the largest RFID Internet of Things projects in Asia. It has pioneered the large-scale application of RFID technology in China, and has made China's railway transportation management level leap into the world's advanced ranks. At present, the company's railway market share exceeds 50%.
In the field of smart culture, as a global leading RFID smart book management solution provider, Invengo currently provides services to more than 4,000 library customers worldwide. The company pioneered the ultra-high frequency smart library solution, and the library management service cloud platform based on the Internet of Things, big data and SAAS architecture provides support for the transformation and improvement of the library industry.
In the field of apparel retail, Yuanwanggu is the world's leading supplier of IoT solutions for apparel retail. The company's developed single-item retail supply chain and store management IoT application solutions focus on the construction of digital supply chains and smart stores. They have been successfully implemented in many large domestic and foreign apparel companies, such as Decathlon and Heilan Home, helping apparel companies to realize digital transformation and upgrading as soon as possible.
May I ask what is the proportion of Yuanwanggu's investment in technology research and development and what is the research and development focus in the next few years?
Yuanwanggu has created many application precedents in the RFID field. The spirit of innovation has long been deeply integrated into the company's genes. Faced with the current volatile economic environment and unknown market trends, Yuanwanggu has the confidence and strength to always control the R&D investment to more than 10% of the company's revenue and focus strategic resources on technological innovation.
In recent years, with the increasing application of RFID technology in digital construction such as smart cities, smart ports, smart factories, and smart transportation, on the one hand, Yuanwanggu will continue to expand its advantages in railways, smart culture, clothing retail and other fields; on the other hand, Yuanwanggu will also actively explore other emerging industries, give full play to its own technological superiority, create more smart IoT solutions, and bring application innovation to various industries.
At the same time, under the innovation-driven development concept, Yuanwanggu will also more actively embrace high-tech technologies such as AI, metaverse, 6G communication, virtual reality, and sensor communication, establish a smart service system with RFID technology as the core and a variety of cutting-edge technologies blended together, and explore more possibilities in various technical fields.
How was the effect of participating in the IOTE Internet of Things Exhibition this year? What suggestions do you have for our IOTE International Internet of Things Exhibition?
Yuanwanggu participated in the IOTE Internet of Things Exhibition this year and achieved very good results:
1. Brand promotion: This exhibition attracted tens of thousands of visitors to visit the site. The strong industry atmosphere and huge flow of people became an important opportunity for Yuanwanggu to show its brand style to the outside world. The fashionable booth design and high-quality exhibition plan attracted many visitors to Yuanwanggu and helped Yuanwanggu further enhance its brand awareness.
2. Business expansion: This Internet of Things Exhibition has many exhibitors, covering the upstream and downstream industrial chains of the Internet of Things industry. Various market demands are fully surging, creating a good environment for business exchanges, bringing Yuanwanggu more opportunities to expand the market and explore business. During the three-day exhibition, customers continued to visit Yuanwanggu's booth for negotiations.
3. Industry exchange and learning: As a weathervane in the industry, the exhibition attracted more than 800 outstanding companies to gather together to share new trends and application cases in the industry, strengthen the relationship between Yuanwanggu's industry partners and customers, exchange cutting-edge technologies and applications in the industry, and broaden the industry vision of the Yuanwanggu team.
Give some suggestions:
1. Increase interactive links and experience: Due to differences in technical styles, RFID cannot be as eye-catching as the on-site display of technologies such as AI and robots, but through clever planning, more interactive links can be added to enhance the interactivity and fun of the exhibition, so that the audience can more intuitively understand the application effects of RFID technology and products.
2. Promote in-depth exchanges between industry, academia and research: The exhibition brings together top companies and experts and scholars in the industry. It is recommended to deeply explore and utilize exchange opportunities, fully promote resource interaction between various subjects of "industry, academia and research", set up an industry, academia and research cooperation zone, invite relevant parties to display results, exchange technology and negotiate project cooperation, and promote industry, academia and research cooperation and exchanges.
3. Promote online and offline integration: It is recommended that exhibition organizers explore exhibition models that integrate online and offline. Through online platforms, such as live video streaming and online shopping malls, exhibitors can display products and release information, and visitors can browse exhibition content, make appointments to visit, etc., to help expand the audience range of the exhibition and improve the communication effect of the exhibition.
How is the growth of Invengo in overseas markets this year? How do you generally expand overseas markets?
At present, Invengo has established a global marketing network with Shenzhen as its headquarters, covering most domestic and foreign regions such as China, Singapore, the United States, South Korea, Europe, and Australia. With RFID technology as the core, it has built an overseas smart service matrix; with railways, smart culture, and clothing retail as the three major businesses, it has established an internationally renowned brand.
This year, Invengo's overseas market as a whole has shown a positive development trend. Although the specific data may vary due to market segmentation, regional differences and other factors, in general, Invengo's overseas market expansion has been steady and has achieved certain results.
For example, Invengo's smart culture business is being actively implemented in the United States, Australia and other regions, and has been carried out in an orderly manner. It has gradually established a deep connection with the local market, and related businesses have also emerged; in the face of the challenges brought by market growth, the Invengo team has also actively formulated a long-term development strategy to tackle key problems from regional and industry dimensions.
In terms of developing overseas markets, Yuanwanggu has established a firm foothold in some regions with its excellent technical level and deep brand accumulation. At the same time, it has actively taken relevant measures to strive to "stand firm, stand firm and go far" in overseas markets. These measures mainly include:
1. Market research and positioning: Yuanwanggu has established relevant departments such as the International Business Department to cultivate talents who are more familiar with overseas market demand, competitive situation and laws and regulations, constantly understand the overseas market situation, and formulate appropriate market positioning and product strategies.
2. Establishing partnerships: Yuanwanggu actively seeks to establish partnerships with well-known local companies, industry associations, government agencies, etc., and jointly develop markets through resource sharing and mutual benefit and win-win methods.
3. Brand promotion and marketing: By participating in international exhibitions, holding product launches, and conducting online marketing, Yuanwanggu continues to enhance brand awareness and influence and attract potential customers and partners.
4. Providing customized solutions: In response to the specific needs of different customers, Yuanwanggu provides customized solutions and services to help customers solve practical problems and improve customer satisfaction and loyalty.
Through the interview with Yuanwanggu, I believe everyone has learned a lot. It is worth mentioning that last year, Invengo's "Assisting the world-renowned retailer Dikayi in the accurate and efficient collection of traceability data" was also listed in the "IoT Star" 2023 China Internet of Things Industry Benchmark Case List. The "IoT Star" selection activity selects companies and products with outstanding performance in the RFID industry through strict selection criteria and processes, setting a benchmark and example for the industry. The award-winning companies are jointly selected by industry judges, organizing committee experts and industry professionals. These award-winning companies and products not only represent the highest level of the RFID industry, but also provide examples for other companies to learn and refer to, promoting the progress and development of the entire RFID industry.
This paper is from Ulink Media, Shenzhen, China, the organizer of IOTE EXPO (IoT Expo in China)
