Bailian Intelligence Files IPO Prospectus: Empowering Medical Device Enterprises to Enhance Bidding Efficiency with AI
Driven by sustained growth in clinical demand and continuous innovation in medical devices, China’s medical device market is poised for continued expansion.
The "Report on Market Demand Forecast and Development Trend Outlook for China's Medical Device Industry (2022-2027)" released by AskCI Consulting shows that the market size of China's medical device industry grew from RMB 623.5 billion in 2019 to RMB 1.0358 trillion in 2023. Analysts at AskCI Consulting predict that the market size of China's medical device industry will reach RMB 1.13 trillion in 2024.
In medical device procurement, tendering and bidding are often the primary methods.According to statistics from the Medical Device Edition of Zhiliao Biaoxun, as of April 18, 2024, the total number of real-time winning bids for medical equipment across the entire network reached 176,390, with a total winning bid amount of RMB 1.2577 trillion. The number of distributors involved was 61,802, and the number of hospitals participating in transactions was 6,514.
Medical device tendering and bidding involve three key stakeholders: manufacturers, distributors, and hospitals. Amidst massive, real-time data updates and complex network ecosystems, the timely and precise acquisition and analysis of tendering and bidding information is often challenging, posing significant obstacles to success rates in medical device tenders. To address this pain point, Bailian Intelligence has developed a next-generation intelligent tendering and bidding information service platform.
Bailian Intelligence, founded in 2018, specializes in B2B intelligent marketing. It offers data-driven, scenario-focused B2B intelligent marketing SaaS products and digital solutions, committed to leveraging AI technologies to enhance the efficiency of the entire marketing process—from market insights to sales lead generation, qualification, outreach, and conversion.
Currently, Bailian Intelligence has expanded its reach across multiple sectors, including healthcare, technology, energy and chemicals, fast-moving consumer goods (FMCG), finance, and manufacturing, providing marketing digitalization and intelligence transformation services to over 400 medium-to-large enterprises. Headquartered in Beijing, Bailian Intelligence has established four directly affiliated subsidiaries in Shanghai, Shenzhen, Baoding, and Xi’an, thereby achieving a strategic nationwide layout and comprehensive service coverage across China.
Dr. Yao Conglei, Founder and President of Bailian Intelligence, graduated from the “Tianwang” Laboratory of the Department of Computer Science at Peking University, was one of the core members of “Peking University Tianwang,” China’s first-generation general-purpose search engine, and is among the top experts in natural language understanding and search engine products and technologies.
In 2008, Yao Conglei completed his Ph.D. in the Department of Computer Science at Peking University. After graduation, he worked at HP Labs China and Tencent, where he led the research and development of technologies and products related to text mining and search engines. He previously served as Vice President of Technology at Wandoujia and as Chief Technology Officer at Kika Tech. Between 2016 and 2018, the maturation of AI technologies, particularly deep neural networks, created new opportunities for the commercial application of AI. During this period, Yao Conglei was also contemplating whether to seize this opportunity to build a successful venture.
Regarding the specific impetus for founding the company, Dr. Yao Conglei stated that he and CEO Feng Shicong as well as CFO She Wei were fellow doctoral students under the same supervisor and former business partners, thereby establishing a solid foundation of trust.
Among them,Dr. Feng Shicong, Founder and CEODr. Feng Shicong also graduated from the “Tianwang” Laboratory of the Department of Computer Science at Peking University and was a core member of “PKU Tianwang.” He serves as a member of the Big Data Expert Committee of the China Computer Federation, a council member of the Chinese Information Processing Society of China, and an enterprise master’s supervisor at the School of Information, Renmin University of China. Recognized as one of China’s leading experts in artificial intelligence, big data, and information retrieval, he previously co-founded Minglue Data, serving as its President and Chief Technology Officer (CTO), and held the position of Vice President of Technology at Miaozhen Systems. Dr. Feng has received numerous accolades, including being named a “Pioneer Figure” on the Harvard Business Review 2019 “Dingge Award” List of Pioneers in China’s Digital Transformation, and being listed among Yicai’s “Top 50 Data Scientists.” He holds more than 50 domestic and international invention patents and has published over 20 academic papers.
She Wei, Founder and CFO, graduated from the Department of Computer Science and Technology at Tsinghua University. Holding multiple invention patents in China and abroad, he is recognized as one of China’s leading experts in artificial intelligence. He previously engaged in development and algorithm research at IBM CDL and HP Labs China. At Miaozhen Systems, he led teams in designing and developing multiple enterprise-level products and founded the gaming media platform YeziZhu. He also served as a founding team member, Technical Partner, and Dean of the Research Institute at Minglue Data.
Founding Team of Bailian Intelligence: Yao Conglei (left), Feng Shicong (center),She Wei (right)
In 2018, against the backdrop of rapid advancements in AI technology, the team discovered that the richness of enterprise-related information within publicly available internet data had reached a critical threshold. Many companies were eager to leverage the mining and analysis of such open-source data to generate sales leads, gain a comprehensive understanding of the market landscape, and expand their distributor networks. However, this demand remained largely unmet at the time.
Dr. Feng Shi Cong believes that, in the near future, the application of data elements will be a relatively effective way for enterprises to enhance efficiency. Precise industry and market data can help companies find the key to unlocking markets, thereby promoting rapid business growth. In the wave of digitalization, data-driven decision-making will bring benefits to marketing departments, making investment in technology and data assets crucial.
“Applications of big data and artificial intelligence will continue to expand, representing an unstoppable trend, as these technologies help enterprises increase revenue and reduce costs. Revenue growth is achieved by leveraging big data and AI to identify customers and generate commercial returns, while cost reduction addresses enterprise expense challenges.” This was Dr. Feng Shicong’s assessment of the commercialization trends in AI technology.
Recognizing this market opportunity, the team founded Bailian Intelligence under the advocacy and leadership of Dr. Feng Shicong, and developed a new-generation intelligent bidding information service platform—Zhiliaobiaoxun.Position the company’s goal as providing high-quality services to medium and large enterprises in the industry. Yao Conglei stated that this is not only because medium and large enterprises have strong long-term payment capabilities and steadily growing marketing demands, but also because their strategic approaches and methodologies for market sales are more profound, representing a “gold mine” worthy of coverage and learning.
The reason for expanding the application scenarios of Zhiliao Biaoxun to the medical device sector is that “the medical device industry is the most unique,” facing challenges such as complex sales networks and difficulties in organizing bidding information.
Yao Conglei pointed out that, first, the vast majority of medical device procurement is conducted through public tendering processes. Furthermore, the sales network for medical devices is relatively complex, involving a three-tier structure comprising manufacturers/brand owners, distributors, and purchasers, which can lead to significant information opacity. Second, the medical device market is highly standardized, with the state implementing strict and clear classification standards; it is essential to accurately map the medical devices intended for procurement in the tenderee’s bidding process to the National Medical Device Classification Catalog. Third, the same medical device may be referred to by different names in various tender notices issued by different tenderees, adding complexity to the organization and analysis of bidding information.
Furthermore, in the process of directly engaging with medical device clients, Bailian Intelligence discovered a strong demand among enterprises for the mining and analysis of medical device tendering and bidding information, highlighting the need for a specialized information service platform. “At that time, there were virtually no solutions on the market capable of effectively addressing these issues, so we saw this as an excellent opportunity to fill a market gap,” Yao Conglei told VCBeat. “This presented both an opportunity and a challenge. Given the high industry barriers in the medical device sector, our team devoted considerable time to acquiring healthcare industry knowledge, designing algorithms, training models, and deploying the product.” Today, it has been nearly two years since the launch of Zhiliao Tender Information’s Medical Device Edition.
Zhiliao Bid Information (Medical Device Edition) directly targets the key elements of market insights in the healthcare industry. Leveraging artificial intelligence technologies such as natural language processing, OCR, and knowledge graphs, it decodes tendering and bidding information from across the entire web.Based on the “Different Entities” & “Transaction Relationships” in the medical device market, we provide a comprehensive, accurate, visualized, and real-time market insight knowledge base for upstream and downstream stakeholders—including medical device brands/manufacturers, distributors, and hospitals—enabling intelligent and precise industry chain analysis.。
In this process, Bailian Intelligence first addresses the issue of low efficiency in acquiring high-value enterprise information.
Bailian Intelligence has discovered that tender and bid announcement documents, particularly their attachments, contain a wealth of core information on procurement needs. This data can help companies across the upstream and downstream of the medical device industry quickly identify key elements in bidding and procurement transactions. However, such information is often not readily apparent from the announcements themselves. Approximately half of this high-value information is embedded in attachments—such as images, PDFs, Excel spreadsheets, Word documents, and compressed files—making it easy to overlook and labor-intensive to organize, thereby preventing its optimal utilization.
Overcoming this challenge has become the core advantage that distinguishes Zhiliao Bidding Information from other bidding and winning-bid information platforms in the market.
Traditional medical device industry tender information platforms lack depth in processing tender data, generally only extracting the main text. AndBailian Intelligence, built on its proprietary OCR technology, has established comprehensive capabilities for processing bidding and tender attachments. It boasts three core advantages: "bidirectional extraction and verification of main text and attachment content," "industry-leading recognition granularity and efficient information acquisition," and "visualized analytical reports for intuitive data insights.", built on comprehensive industry data aggregation and precise AI-driven analysis, it delivers real-time big data insights through visualizations while ensuring data completeness and information accuracy, thereby enabling enterprises to rapidly grasp the market size, target customers, competitors, and industry trends within specific segments.
Core Advantages of the Zhiliao Bid Information Medical Device Edition
Specifically, the Medical Device Edition of Zhiliao Biaoxun delivers services centered on three key stakeholders: brand owners/manufacturers, distributors, and hospitals.
For Medical Device Brands/ManufacturersZhiliao Bid Information (Medical Device Edition) offers a national market insight dashboard, multi-dimensional distributor evaluation, visualized competitor business analysis, real-time monitoring of target customer opportunities and channel development, a distribution channel expansion panel, and performance analysis across regions in China, providing comprehensive insights into the market, channels, competitors, and regional performance. Currently, Bailian Intelligence has established a mature technological process capable of real-time collection and indexing of the latest bidding and tendering information.Based on the target medical device, Zhiliao Bid Info (Medical Device Edition) can accurately identify and cover various information related to its name variants, enabling one-click subscription to bidding announcements across the entire Chinese web and real-time access to relevant business opportunities.
For Medical Device Distributors, the Medical Device Edition of Zhiliao Bid Information can help them precisely address agency needs and efficiently secure distribution channels by identifying manufacturers behind products/devices, analyzing market size for agency regions, and querying bid opportunities in real time. By leveraging insights into regional hot-market performance, it enables rapid expansion into additional regions and product lines.Notably, the Medical Device Edition of Zhiliao Bidding Information can collect bidding and winning bid information from across the internet in real time, establish a trend map of bidding and winning bids by combining historical procurement data, and accurately predict bidding opportunities using algorithms. Currently, the prediction accuracy rate can exceed 70%, enabling customers to prepare in advance and improve sales success rates.
For Hospital Medical Device Procurement Scenarios, the Zhiliao Bid Information Medical Device Edition offers services such as manufacturer lookup, procurement price inquiry, rankings of mainstream brands and models, and historical price trends, thereby enabling accurate procurement assessments.
Bailian Intelligent Medical Device Digital Marketing Solution
The current Zhiliao Bid Information Medical Device Edition ensures daily updates, on an hourly basis, of over 50,000 multi-channel bidding and awarding data points in the medical device industry from hospitals, local government websites, public resource trading platforms, industry-specific procurement portals, and third-party publishing platforms. The aggregated data volume reaches tens of millions, effectively providing medical device companies with a real-time, open-access database.
Bailian Intelligence’s exclusively developed Enterprise Marketing Super Brain Model serves as the “brain” and core technological foundation for the Zhiliao Bid Information Medical Device Edition, enabling the accumulation of industry know-how in a structured knowledge format.
Issues Addressed by the Zhiliao Bid Information Medical Device Edition
The Enterprise Marketing Superbrain Model has the capability to provide high-quality structured data. Through years of accumulation, Bailian Intelligence has built a distinctive enterprise database and industry knowledge base matrix, including various types such as an enterprise database, store database, bidding information database, distributor database, and news and public opinion database.Data labels have reached the billion-level scale.. Yao Conglei emphasized that the precise, rapidly updated database currently being built is merely the foundation,“The greater value of the ‘Super Brain’ model lies in leveraging industry knowledge. It conducts in-depth analysis and interpretation of structured data, helping enterprises make more efficient and accurate decisions in business scenarios.”
Meanwhile, Bailian Intelligence continuously updates and iterates its models and algorithms through practical business applications. “We believe that the marketing methodologies of leading enterprises in the industry offer the greatest depth and value. By serving them, we gain profound insights into their market pain points as well as the methodologies and strategies they employ to address these challenges,” explained Yao Conglei, noting that the process of serving these medium-to-large enterprises is also one of learning from them.Bailian Intelligence will refine its industry methodology based on this, crystallizing it into specific algorithmic models to better serve clients and establish a self-reinforcing closed-loop system.
Empowered by advanced core technologies, Bailian Intelligence has achieved significant accomplishments in its practical services to medical device companies.
Among them, Bailian Intelligence once served a medical device company that provides professional market access and penetration solutions for high-value medical devices. During the product selection phase for agency representation, the company needed to understand the performance of products in the Chinese market as well as the domestic distribution and agency landscape. ZhiLiao Bidding Information (Medical Device Edition) provided it with real-time market insight capabilities, helping the company quickly grasp the overall market demand for agency products in China, procurement trends at end-user hospitals, and competitive dynamics among channel distributors.Increase product selection research efficiency by 200%.Meanwhile, real-time monitoring of bid-winning information enables tracking of unit prices, quantities, models and specifications, manufacturers, product names, end-user hospitals, winning bid configurations, as well as after-sales maintenance policies from manufacturers and their authorized distributors.Increase its business/channel development efficiency by 50%.
Furthermore, a global healthcare giant sought to capitalize on business opportunities in a timely manner by leveraging bidding information. With the objective of “identifying high-quality distributor partners in the Chinese market,” the company approached Bailian Intelligence. The Zhiliao Bidding Information Platform (Medical Devices Edition) provides real-time push notifications for tender announcements based on the specific device names of interest, thereby addressing the challenges of incompleteness and delays associated with manual searches and improving the timeliness of bidding information acquisition by 100%. Meanwhile, Bailian Intelligence identifies distributors by analyzing historical procurement records of target hospitals. Through a comprehensive evaluation of data including devices distributed by the dealers, their historical bid-winning records, winning trends, geographic distribution of target areas of interest, and collaborative clients,15 high-quality distributors have been identified for this enterprise.。
Bolstered by its unique positioning, advanced technology, comprehensive solutions, and outstanding business capabilities, Bailian Intelligence has garnered numerous honors and awards. The company was recognized as one of the “Top 10 AI Content/Marketing Enterprises in China 2023” by 36Kr; selected for the “2023 National Excellent Cases of Enterprise Digital Transformation and Empowerment” by the Zhongguancun Digital Economy Industry Alliance; included in the “Beijing Specialized, Refined, Differential, and Innovative (SRDI) Enterprise Map of the AIGC Industry Chain” by the Beijing Municipal Bureau of Economy and Information Technology; listed among the “Most Investment-Worthy Enterprises in the Science and Technology Industry 2022-2023” by Jiazi Guangnian; featured on the “2022 China Value Enterprise List” by Touzijia.com; and named a “2022 China Top Sci-Tech Company – Enterprise Services Sector” by The STAR Market Daily.55 awards in technology, venture capital and investment, marketing, and media。
Meanwhile, Bailian Intelligence has also attracted significant investor interest. In January 2021, the company secured RMB 100 million in Series A financing, with ByteDance prominently among the lead investors; in November 2022, it completed a Pre-B round of financing exceeding RMB 100 million.
In the future, Bailian Intelligence will center on “high-quality development,” continuing to create business value for medium and large enterprises by focusing on validating and deeply exploring customer value, while incubating more solutions to expand its impact within client business scenarios.