齐心集团接受调研：服务超半数央企 中标以办公物资为主

Qixin Group's B2B business has secured multiple project wins and key industry insights.

1. In the first half of 2024, Qixin won bids for projects with major clients like China Southern Power Grid, China Huaneng, and China State Railway Group, covering office supplies and MRO industrial goods. It now serves the majority of central SOEs (over half of the 97 total).

2. Growth is primarily driven by existing clients, with new wins like PetroChina expected to contribute in the second half. The B2B business focuses on central SOEs and government clients, leveraging digital procurement for cost reduction and efficiency gains.

3. The digital procurement industry is expanding rapidly, with total transaction value reaching approximately ¥172 trillion in 2023, a 15.2% year-on-year increase, and a penetration rate of 9.8%. The office supplies market is valued at ¥20 trillion, while MRO industrial goods account for about ¥89 trillion.

4. MRO is a key strategic focus, covering 36 major categories such as welding equipment and safety products. Qixin is transitioning into an integrated procurement platform for comprehensive supplies.

Key trends in MRO product development and digital procurement consumption.

1. MRO private brands can focus on low-risk, general-purpose items or industry-specific supplies, with potential in less brand-sensitive segments.

2. Rising digital procurement penetration shifts customer demand toward cost efficiency. Brands can leverage transparent procurement policies as corporate spending on supplies declines.

3. Qixin Group's expansion from office supplies to integrated MRO services, exemplified by its renewal with China Southern Power Grid, highlights opportunities for brands to offer specialized solutions.

4. Large clients like PetroChina prefer bundled bidding packages, indicating brands should prioritize channel development and product versatility.

Policy insights and market growth opportunities summarized.

1. Policy Support: Transparent procurement and digital economy policies are normalizing centralized digital procurement, driving self-sustaining demand from government to enterprises and creating compliance and security opportunities.

2. Growth Market: Digital procurement reached ~¥172 trillion in 2023, growing 15.2%. The large office supplies and MRO markets offer sellers opportunities to deepen client engagement and secure new projects.

3. Opportunity Alert: Existing clients drive significant revenue; new wins like Industrial Bank will yield returns in H2 2024. Collaboration models include providing integrated supply solutions.

4. Risk Note: Global economic conditions affect procurement, but stimulus policies will foster high-quality development. Sellers should refine bidding strategies for stable competition.

MRO product demand and digital e-commerce insights.

1. Product Demand: MRO industrial goods span 36 categories, such as cutting tools and safety equipment. Factories can focus on standardized general items or specialized industry supplies.

2. Business Opportunity: Qixin's contracts with major clients like China Southern Power Grid include MRO and office supplies, creating supply chain opportunities for mid-to-high-end products.

3. Digital Insight: Digital procurement penetration rose to 9.8%. Factories should adopt e-commerce, using centralized platforms to cut costs and improve efficiency, as clients prioritize fast delivery.

Industry trends and client solution highlights.

1. Industry Trend: Digital procurement grew 15.2% in 2023, with rising penetration and supply chain digitization driving future high-quality development.

2. New Tech: Qixin applies its digital platform capabilities to MRO, optimizing procurement services to help clients reduce costs and boost efficiency.

3. Client Pain Points: Enterprises seek cost reduction, compliance, and security, with challenges including scientific bidding rules. Service providers must offer professional solutions.

4. Solution: Integrated procurement platforms cover office and MRO supplies, as seen in projects like China First Heavy Industries. Service providers should strengthen teams to meet general supply demands.

Platform business needs and latest practices summarized.

1. Demand: Enterprises increasingly seek integrated platforms for office and MRO supplies, requiring efficient delivery and compliance solutions.

2. Latest Practices: Qixin expanded from office supplies to comprehensive MRO services, replicating platform capabilities and focusing on central SOE and government client wins.

3. Operations Management: Renewed projects like China Southern Power Grid involve optimized bidding structures. Competition remains stable, but economic risks require mitigation.

4. Trend Navigation: With digital procurement penetration rising, platforms should prioritize specialized MRO transformation, as existing clients drive steady growth.

Industry movements and policy/business model implications.

1. Industry Movements: Digital procurement hit ¥172 trillion in 2023, outpacing overall procurement growth, with 9.8% penetration. The ~¥89 trillion MRO market is shifting toward integrated services.

2. New Challenges: Economic conditions impact procurement, but policy stimuli will aid development. Key issues include increasing MRO share and managing competition.

3. Policy Implications: Transparent procurement policies are normalizing, prompting governments and firms to expand centralized buying for cost savings.

4. Business Model: Qixin evolved from an office platform to an integrated supplies procurer, serving over half of central SOEs—a replicable model for other sectors.