
Fengbao began to get involved in the Internet of Things (IoT) communication module products in 2010, the establishment of the Internet of Things (IoT) business unit, specializing in the development and sales of IoT products, is just one of the many departments of Fengbao, in addition to the agency of the Internet of Things (IoT) products, but also do some of the Internet of Things (IoT) communication module. But really not as the main business, after more than ten years of attempts and understanding of the industry, we know that this business is a long-term promising, but full of difficulties, we need to specialize in the team to continue to cultivate. In 2020, when the epidemic began to rage, many companies began to scale back their investment and hold on to warmth to survive the winter, while we started a new journey. On the basis of the previous R&D teams in Suzhou, Taipei, and Chengdu, we set up the Shanghai R&D Center on Nov. 23, 2020, to continue to strengthen the R&D team's investment in the architecture of the IoT infrastructure system; in order to differentiate our business of electronic parts, we were led by JIMME, the general manager of Fungbo in charge of the industry team, we set up Shidian Technology Co., Ltd. in the Sanya Free Trade Zone in Hainan in July 2021, with Shidian as the brand specifically responsible for the design, research and development, production and sales of our own branded products. We know that the epidemic will eventually pass, we clearly understand the trend of industrial IoT, we understand our shortcomings and problems, we have a reliable, stable and experienced team, and we have a large customer base to give us support. We believe that this business will get better and better.
Although our parent company has been in business for almost 40 years, we are still a new company to World Power, with a passionate and energetic team, new office space, new instruments and equipment. We continue the gene and culture of Fung Po, "to be the expert in the industry", we are down to earth, pragmatic and serious. In order for our business to continue to grow, we know we must continue to strengthen the investment in product research and development; because we work as an agent, facing a variety of product opportunities and market customer needs, in order for us not to lose our way, we must determine the direction of our industry chain in the Internet of Things, we will research and development of the direction of the product focus on theinterior positioning(math.) genusInternet of Things Sensing and Controlas well asTransmission of dataWe know that the products involved will be very wide, and each product in the industrial IoT industry can not be as much as the consumer industry. We know that the products involved will be very wide, and each product in the industrial IoT industry can not be like the consumer industry can be a lot of demand for a single, we are aware of the characteristics of this industry is a small amount of variety, we are also aware of the complexity of the environment faced by the customer and personalized needs, we are trying to develop a more diverse range of products to meet the needs of our customers, but it will also create a need for control of the product line, we do not want to create too much pressure on inventory, but also do not want to run out of inventory and can not serve our customers. We don't want to create too much inventory pressure, but we also don't want to be unable to serve our customers without inventory. Therefore, our R&D approach is based on the Lego model, where both hardware and software are iterated in a building block fashion. We hope that this way can solve the contradiction between our high inventory level and fast customer service.
Our gene is agent parts service, we have tried MP3, car positioning, network set-top box, electronic photo album, advertising machine and other series of consumer products, in the decades of operation, we have seen and learned a lot of excellent enterprise product development and promotion and sales model, we also know that from the agent transition to the development of its own brand need to pay the effort is even more difficult than starting from scratch. Because we have been flowing in the blood of the trade agent as the core, we are good at establishing channels, sales of many product lines and services to more customers, the agent mode is very easy to get customer feedback, because the product does not need us to consider, we only need to sell and serve the customer and will be the money back to complete the closed-loop, if the quality of the product problems, there will be the original factory is responsible for backing up the bottom. Such a business model has penetrated into every aspect of our business, so when we develop a new business, on the one hand, we should inherit some of the best traditions, but more importantly, we need to sort out the way of work and business philosophy under the new business model. The reliability and stability of the products should be thought as the first priority, we don't have the dependence of the original factory, we have to rely on ourselves to solve the problem; the development of our own products needs more patience, we can't be as direct and fast as doing trade; we are reverent to the products and stipulate our own boundaries, we can't operate everything like an agent.
Our R&D team in Suzhou is known forzigbee positioningAs a product direction has been cultivated for nearly 10 years time, through their products and the market let us deeply understand the prospects and future of indoor positioning, but also know the shortcomings and shortcomings of zigbee positioning, there are a lot of customers on the accuracy of the demand for a higher level, so our R & D team in Shanghai and Taipei to supplement the accuracy of zigbee positioning, began theUWB positioningProduct development of products. To supplement indoor positioning customer needs, in addition to Zigbee positioning and UWB positioning, we have introducedBluetooth localizationof external resources as a complement to our products for a better customer experience.
We understand in the process of communication with customers and system integrators in the real application scenarios, most of the users expect an integrated solution, in order to allow our hardware products to be accepted by more customers, we have increased the investment in software manpower to provide our customers with the overall hardware and software solutions, we have recently introduced thecloud warehouseThe product is a case. We know that only by virtue of our own impossible to face mask to the application of each market segment, so only a few industries to do the overall program, but also to facilitate to the relevant system software companies based on our products to do some of the cases show that we will open up our interface and source code, we welcome!System integrators on board, making the application of IoT indoor positioning even wider.
The concept of the Internet of Things first came out of Bill Gates' 1995 bookThe Way of the FutureA book, the so-called Internet of Things is the connection of objects and objects, people and objects; all the objects of our life if there is a need for the chemical can be accessed to the same network, the scale of the Internet of Things industry is a trillion-dollar market, the future will continue to be the biggest driving force of the era of development; the development of the industrial Internet of Things can not be separated from the construction of the infrastructure, a variety of underlying analog sensory information needs to be sent to the customer's control platform through various transmission methods. Transmission to the customer's control platform, the control platform and then through a variety of ways of transmission will be commanded to the implementation of the system, which involves the product needs to be stable and reliable, so that all the data is foolproof to reach the intended place, although the Internet of Things industry has been put forward for several decades, but this link because of the involvement of theIoT protocolsThere are too many sensors involved, and it is difficult to replicate and standardize them so that end customers can quickly get started to build specific applications. We see the needs and prospects of this industry, we will standardize the basic products of industrial Internet of Things as our vision direction, we expect to provide customers with reliable, stable, diversified Internet of Things modular products; so that customers can quickly and easily build their own stable and reliable system to solve the specific practical needs of the Internet of Things.
Starting on April 1, 2022, and for almost 2 months now, the Shanghai headquarters has been under traffic control to prevent the spread of the virus because of the outbreak and the government has started to implement traffic control, so colleagues in Shanghai can only work from home. This situation has happened before in other regions of our company, Wuhan, Beijing, Xi'an, Hong Kong, Shenzhen and various other regions have had similar experiences, we can all feel the pain and anxiety of being grounded. Since last year, we have been planning how to make our message interactive with our customers and we haveTaobao store, but only a part of our products for product display and sales, we also have our own enterprise official website, the official website of our sister company and the official website of our group, but the information is slow to update. We have established a sharing resource on our enterprise WeChat Enjoy platform in 2019, but it is only an internal knowledge sharing, we expect to establish a platform that connects the internal and external part of our enterprise about our products, we can publish our news, update our cases, sell our products and interact with our customers positively, we have been preparing for more than one year, and we have selected the open source software Wordpress As the basis of our website to complete our work, our IT department completed the design of the framework, our designers did the color and layout, our business team provided rich materials, our R & D team provided stable and reliable products, after several months of work, our website was officially launched in May 2022 formally. But this is just the beginning, I believe that the website will bring a lot of power and information for our development, we will develop more interactive boards in the future, so that our users and our R & D to shorten the distance, better improve our product line.
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