2015 Year 3 Moon 5 On [date], the Third Session of the 12th National People's Congress was held at the Great Hall of the People. During the session, Premier Li Keqiang delivered the Government Work Report and proposed that the country should formulate an “Internet...” + Strategy. As an important component of the modern service industry, the asset valuation sector needs to closely align with national strategies and leverage the internet to accelerate its transformation and upgrading.

     The internet has become the hottest topic in economic and business circles over the past two years. Several leading internet companies boast vastly different business models and skyrocketing valuations. However, considering factors such as growth opportunities and industry scale, it’s unlikely that the “myth” of these internet giants can be easily replicated. Specifically, across each individual industry, practitioners should focus more on how to integrate and upgrade the internet with their existing industries.

     “ + “The internet” is a viable path.

     The “Internet” formulated by our country + The strategy essentially includes the “internet.” + “and” + “Internet” two modes.

     Internet + “Emphasizing ‘reverse innovation.’ Broadly speaking, e-commerce represents the internet’s reverse intrusion into commerce, internet finance is the internet’s reverse intrusion into the financial sector, and internet media is the internet’s reverse intrusion into the media industry. This disruptive expansion—from ‘new’ to ‘old’—has already caused a profound shock.” The Internet + With advantages in new technologies, institutional mechanisms, and broader social support, it is poised for explosive growth.

     “ + The term “Internet” places greater emphasis on “innovation that aligns with the trend.” For example, the Industrial Internet and the Financial Internet are primarily about traditional industries leveraging existing business models and utilizing Internet technologies and concepts to enhance the efficiency and quality of services provided to users. + The “Internet” possesses advantages in stock, industry standards, and credibility.

     Currently, China already has 50 Yu’s valuation exceeds 10 An internet company worth billions of dollars—yet, if you think about it calmly, it’s not hard to realize that multiple financial crises and the dot-com bubble have shown us: whenever any industry goes into a frenzy, it’s a clear sign that trouble is just around the corner.

     As a knowledge-intensive service industry, the characteristics and development history of the asset valuation sector dictate that innovation can only be “innovation in step with the times.” Leveraging the internet to accelerate the industry’s upgrade and transformation is a viable approach; however, we shouldn’t expect the internet to completely upend the entire industry. What the asset valuation sector should aim for is— + “Internet” strategy, rather than “Internet” + Strategy.

     “ + The internet is driving industrial transformation and upgrading.

     JD.com Group CEO Recently, Liu Qiangdong delivered a speech titled “Twelve Years of Reflections on Working in the Internet Industry,” during which he noted: “Traditional business values and economic laws apply perfectly to the internet. Any internet business model that fails to reduce industry transaction costs or improve transaction efficiency is bound to fail in the end.” Specifically regarding the asset valuation industry, “ + The strategy of the “Internet” can primarily be reflected in improving work efficiency, reducing transaction costs, and enhancing customer experience. 3 This aspect.

     Improve work efficiency. The characteristics of the asset valuation industry dictate that searching for and integrating information, as well as process collaboration, have become major components of evaluators’ workloads.

     Using the internet to search for information has already transformed the daily working habits of asset appraisers. Increasingly, asset appraisers rely on online sources—such as quotes, transactions, and litigation data—to obtain the various types of foundational information needed for their appraisals. Meanwhile, as overseas projects continue to grow in number, asset appraisers are also increasingly beginning to leverage these resources. Data room The online database provides enterprises with basic information and enables the completion of certain technical information collection tasks that previously had to be performed on-site.

     After obtaining the relevant data, it is crucial for asset appraisers to determine the authenticity of the information and extract its valuable content. By leveraging accumulated big data, asset appraisers and internal risk control personnel can effectively grasp the value characteristics of a particular type of asset or enterprise. Currently, some appraisal firms have begun experimenting with establishing “comparison databases” internally—using data integration technologies to input various externally sourced, validated information obtained from routine projects into these databases. Such databases not only enable project staff to draw on their contents in subsequent projects but also allow auditors to verify whether the assessment results fall within a reasonable range. For example, Shanghai Dongzhou Asset Appraisal Co., Ltd. is currently incorporating key data from major merger and acquisition cases disclosed by listed companies, such as... PE 、 PB Multiples, the proportion of the three-year cumulative commitments relative to the valuation results, and gross profit margin data for listed companies by industry—these are gradually entered into and compared against a database. When reviewing projects, project reviewers first retrieve information from the database to determine whether the project’s results fall within a reasonable range. If the results fall outside the reasonable range, reviewers will specifically ask the project team members to provide sufficient and reasonable evidence explaining the reasons for the deviation.

     In addition, an asset valuation project typically goes through a series of steps: engagement, on-site work, calculation, report preparation, internal review, and company approval. Traditionally, project staff have relied on word-of-mouth communication to pass along project information and manually hand over project deliverables, which has severely limited project efficiency due to spatial constraints. Today, however, project staff can leverage cloud-based data storage capabilities provided by the internet to achieve collaborative workflow processes. No matter where project personnel are located, they can upload their work results from each stage to the cloud, enabling team members to collaborate seamlessly and allowing reviewers to conduct simultaneous audits—thus significantly boosting efficiency. Moreover, the use of cloud-based data platforms has also made it more feasible for companies to establish low-cost virtual offices and enable remote working arrangements.

     Reduce transaction costs. Currently, the transaction costs associated with asset valuation projects are primarily concentrated on information asymmetry between the parties involved in the demand for valuation services—specifically, the costs incurred by those seeking valuation services to find suitable valuation firms, and the costs borne by valuation firms to identify appropriate project opportunities.

     In recent years, an increasing number of clients seeking appraisal services have begun posting their needs or tender notices online to find appraisal firms. Meanwhile, appraisal firms themselves have started using the internet to highlight their distinctive features, and appraisal associations are also experimenting with publishing industry rankings and other relevant information on their websites, enabling clients to obtain information on the size and quality of appraisal firms at lower costs. These practices have already begun yielding significant results in reducing transaction costs, and the growing number of appraisal firms practicing across regions is one clear manifestation of these positive outcomes.

     Enhance the customer experience. Assessment is a specialized market service that should enable clients to receive professional, effective, and valuable services. The key to this lies in encouraging clients to voluntarily purchase these services. Only by delivering a positive customer experience can the expansion of the assessment business achieve meaningful results.

     For clients of appraisal agencies, the professionalism of appraisers and the effectiveness of communication are the most important experience-related needs. Allowing clients to gain insight into the professional strengths and workload levels of project personnel even before a project begins can help them set more realistic expectations for the project team’s services. Appraisal agencies can learn from practices in other service industries and explore the possibility of building an online platform that enables real-time interaction with clients. On such a platform, clients can access information about appraisers’ specialized expertise and, based on their own business needs, actively participate in selecting the project team members. Meanwhile, the platform can also bring in higher-level, highly respected professionals to provide technical assistance, ensuring that complex and challenging issues in major projects can be resolved more efficiently through the platform.

     Moreover, during the project’s operation, clients—seeking to align with their own financial activities—would like to stay informed about the project’s real-time progress. The assessment agency could draw on the current practice in the express delivery industry of openly disclosing the “location history” of packages throughout the entire process, sharing every stage and milestone of the project with clients. Even further, the agency could go a step beyond by making public the selection criteria for each parameter, enabling clients to gain full visibility into project information on a more transparent platform and thereby enhancing their overall customer experience.

     It is recommended that industry associations make good use of the internet.

     Based on the analysis of the above strategic directions and specific details, we believe that the valuation industry can leverage... + The “Internet” strategy can better facilitate the transformation and upgrading of industries. In this process, it is recommended that industry associations both at home and abroad leverage the Internet to provide assessment agencies with enhanced technological support.

     Establish an industry database. Currently, neither domestic nor international appraisal industry associations have yet established a database system. For the appraisal industry, ample data sources are a core requirement for ensuring project quality and driving industry development. If the data accumulated in institutions’ daily operations could be effectively integrated, it would represent a tremendous social asset. It is recommended that domestic and international industry associations join forces to jointly explore the feasibility of establishing an industry database.

     Add information release content. After... 20 Over the years, the role and status of the asset valuation industry have gradually gained recognition from society. The credibility of industry associations has made the information they release an extremely important source of data for all sectors of society. It is recommended that industry associations leverage internet platforms such as websites to publish more detailed rankings of valuation firms, information on their specialties, and knowledge about professional standards—providing this information to those seeking valuation services and thereby reducing transaction costs in valuation engagements.