Recently, YUANNIAN announced the completion of its latest round of financing in Beijing. This round of financing was led by China Renaissance and V Fund has continued to increase its funding.

Han Xiangdong, President of YUANNIAN, said, "The funds raised in this round will be invested in YUANNIAN's next-generation digital transformation and the development and operation of its middle office business products, and will continue to drive YUANNIAN to complete its new strategic deployment under the middle platform architecture. Based on years of experience in the finance field and continuous investment in technology research and development, YUANNIAN is confident to help more enterprises of different types and industries realize efficient digital operation in the future." "At the beginning of its establishment in 2000, financial software and ERP systems were booming, while YUANNIAN team, knew that the future refinement of enterprise management must be quantitative management, so it took a unique path and chose to promote management accounting application implementation for large enterprises, which is a difficult business to start with, and focused on developing in this field. After nearly 20 years of business accumulation, YUANNIAN has a better understanding of enterprise management and application, which has built a competitive moat of professional capabilities and given it a prominent advantage in the wave of digitization. In 2019, Yuannian launched its strategic transformation, focusing on intelligent finance and data center and strengthening the research and development of a new generation of intelligent sharing platform and intelligent management platform. This marks the official entry of Yuannian from the management accounting market into the broader management software market and the blue ocean of industrial internet. As Han Xiangdong said: "Leave the small river for the broad sea". The management accounting business has established a professional and dedicated image for YUANNIAN among various groups such as enterprises, governments, colleges and universities, and the industry, and has also laid a good foundation for its smooth entry into the data analytics business and intelligent sharing business. YUANNIAN's pioneering acquisition of IBM Cognos source code in 2016 has provided a fundamental guarantee that it will significantly improve the performance of management accounting and data analytics. The operational speed and efficiency of YUANNIAN products is competitive among major international brands, which greatly enhances the confidence of large group companies in choosing YUANNIAN management accounting and data analysis platform. Fully equipped with intelligent sharing and data center business, it provides enterprises with a new IT architecture in the digital era while making the future path of Yuannian more imaginative. Based on all of the above, a number of well-known investment institutions have reached out to it one after another in recent years.

Seizing the trend of industry development is a premise for business operation, and customer-centric business philosophy is an important foundation for sustainable development. Due to the increasing emphasis on refinement management, there is a constant demand for data analysis business, the analysis dimension increases, the analysis penetration deepens, and the requirements for suppliers' capability become higher and higher. Continuous and stable customer management has built a competitive moat for YUANNIAN's services. Over the years, a number of new customers have converted into long-term regular customers which have become YUANNIAN's stable and reliable cash flow business. Strong R&D capability is the core competitiveness of a technology company. Over the years, YUANNIAN has always insisted on independent research and development, not only developing the first management accounting suite with independent intellectual property rights in China, but also through the comprehensive and in-depth application of new technologies such as artificial intelligence, big data, cloud computing and mobile Internet. Relying on PaaS and SaaS platforms, we are the first to launch an independent and controllable intelligent sharing and intelligent management platform in the industry, covering the software products from management accounting to the whole process from transaction to analysis, and building a one-stop platform for automation, intelligence, online, real-time and scenario-based digital operation requirements. The platform has successfully passed the CMMI level 5 assessment and certification, ranking among the international advanced level of software development and project management "optimization management level", and building a competitive moat for the product.

Zhu Feng, co-founding partner of V Fund, said, "The enterprise service has been one of the key areas of focus for V Fund. As a key component of enterprise digital transformation, management accounting is gaining focus in more and more medium and large enterprises. The enterprise expense management market also has great potential. With the increasing improvement of enterprise information construction and the rigid demand for expense and cost management, enterprise expense management is on the eve of an upsurge. YUANNIAN is one of the strongest companies in China in the field of management accounting software and expense management: it has the top customer base, serving the top companies in various industry sectors in China; it also has a top database framework with good synergies across business lines. V Fund made its first investment in YUANNIAN in 2019 and continues to make additional investments this time. We are firmly optimistic about its growth potential and expect the company to continue to grow and become an important force in the digital transformation of Chinese enterprises"