FOR-U Smart Freight, a digital startup in the field of road freight transportation, exhibited at the China International Fair for Trade in Services 2021 (CIFTIS 2021). Officially commenced on September 2, the fair is jointly sponsored by the Ministry of Commerce and Beijing Municipal Government, and supported by the WTO, UNCTAD, OECD, and other international organizations. <br> <br>In addition to its onsite exhibition space, CIFTIS continued with its &quot;virtual exhibition hall&quot; used in the past, offering “visitors” the chance to browse exhibits and negotiate business deals through a smartphone app or websites. With the theme of “Towards a Digital Future and Service Driven Development,” CIFTIS highlights the importance of the digital economy and digital trade, with a focus on new technologies, new models, and new achievements across various sectors, while examining the key trends of digitalization, connectivity, and intelligence. <br> <br>More than 10,000 enterprises, from 153 countries and regions, participated and exhibited in this year&#039;s CIFTIS, five more countries than the previous year, with a higher overall international participation rate of 51%. Among the exhibitors, 2,400 companies exhibited at the physical venue, including S&amp;P Global, Panasonic, all Big Four accounting firms, and many other Fortune 500 and industry-leading enterprises. <br> <br>In the virtual space, FOR-U Smart Freight set up a 3D, fully immersive online exhibition hall, complete with the FOR-U booth to showcase its technological achievements in various aspects of road transportation. This was the first time for FOR-U Smart Freight to make an online appearance in an exhibition of such grand scale and scope. The exhibit was also a selected exhibition of FOR-U Smart Freight&#039;s achievements from its past exploration into logistics technologies. <br> <br>FOR-U Smart Freight&#039;s virtual exhibition hall included its brand story, products, and services, while the booth focused primarily on the company&#039;s four core technological achievements: the FOR-U Smart Freight platform, the FOR-U Brain Smart Middle Platform, the Carrier app, and the Shipper app. The FOR-U Brain in particular showcased the company’s achievements in big data and AI technologies with regard to road freight pricing, order dispatching, and support services, and is the technological backbone behind FOR-U Smart Freight’s ability to provide high-quality performance services in both upstream and downstream operations within the sector. At the FOR-U Smart Freight booth page, customer groups with business communication needs can contact customer service and initiate online negotiations. <br> <br>CIFTIS is the world&#039;s largest exhibition in the field of trade in services, attracting the participation of more than 20,000 Chinese and international enterprises since 2012, and has become an important platform for innovation in the service industry. FOR-U Smart Freight will carry forward its innovation, providing high quality digital services for shippers and carriers and driving the high-quality development of the road freight industry. <br> <br>About FOR-U Smart Freight： <br> <br>FOR-U Smart Freight (also known as Fuyoukache, or ForU Trucking), a digital freight transportation company based in China. FOR-U focuses on full truckload freight transportation, utilizing big data and AI, it helps shippers and truck drivers to significantly improve operating efficiency and to lower costs by automating quotation and fulfillment process. <br>#fuyoukache <br>[a]https%3A%2F%2Fwww.for-u.com%2Fen%2Fnews140.html[/a]

Forwarded from Xinhua.net <br>On August 31, road freight platform FOR-U Smart Freight announced the launch of its monthly series to raise safety awareness and standardize service standards. A month-long series of activities shall be carried out under the theme of safe transportation. <br> <br>According to ForU Trucking, the monthly series would start on September 1, and consists of a wide range of activities throughout the month for carriers and shippers, such as training in driver safety, user information authorization, open carrier reception day, as well as the drafting of industry safety standards and more. <br> <br>In May this year, the Ministry of Transport and eight other ministries held an administrative talk with new sectoral platform companies, emphasizing the importance of improving driver livelihood through the protection of driver rights and interests by way of labor safety standards and vocational training. Such platform companies shall open communication channels with drivers to protect driver interests, and respond to reasonable demands and concerns in a timely manner. <br> <br>According to the plan, FOR-U Smart Freight will join hands with Xinjiang Road Transport Association to organize the 2021 Xinjiang Truck Driver Safety Knowledge and Labor Skills Online Competition, providing safety training to 300,000 truck drivers in Xinjiang in areas such as driver safety, road etiquette, and emergency handling. This competition, as one of the first cooperative projects on safety awareness organized by FOR-U Smart Freight, shall be carried out in other provinces and cities in the future. <br> <br>Regarding user authentication, FOR-U Smart Freight has strengthened the real name and real person authentication of shippers, as well as its need for five certificates of authentication from drivers, to further standardize its transportation activities. The five required certificates include an ID card, driver&#039;s license, qualification certificate, vehicle license, and road transport certificate. Users need to upload such documents for review before they can become qualified drivers. At the same time, the platform has upgraded its OCR smart identification system, which automatically identifies any certificates that are about to expire, then generates a replacement reminder and sends it to the relevant party. <br> <br>According to a FOR-U Smart Freight representative, the platform attaches great importance to driver safety, as well as the rights and interests of carriers. The safety month activities will strengthen carrier safety awareness through knowledge training. In addition, by strengthening user authentication, the company aims to further standardize their transportation operations. In terms of labor demands, the platform will open a communication channel with drivers to solicit feedback from the driver community and address their concerns. <br> <br>As part of the month’s safety activities, FOR-U Smart Freight will open the first Driver Reception Day, led by the CEO of the company, to set up a reception group to solicit opinions and suggestions from carriers regarding their daily business, the transport process, and their rights and interests, and to set up a special group to assess the feasibility of the views and study the implementation of policies. <br> <br>Public record shows that FOR-U Smart Freight is a tech-driven road freight transport platform, focusing on the field of full truckload transportation. The big data and AI-based smart logistics platform has been built to provide upper- and lower-reach parties with full-process services across the entire shipping process, while helping shippers and carriers to reduce information acquisition costs, improve vehicle operating efficiency, and optimize the overall transport service experience. <br>#ForU Trucking <br>[a]https%3A%2F%2Fpartners.wsj.com%2Ffor-u%2Fsmart-freight%2F[/a]

Forwarded from tech.ifeng.com <br>Just in time for the talent recruitment season, a tech-based logistics company kicked off its fall recruitment. On August 30, road freight platform fuyoukache announced the launch of its fall 2021 recruitment program, listing hundreds of positions across a number of sectors, including product R&amp;D, operations, and business development, as well as positions in supporting departments. <br> <br>It is understood that the positions from FOR-U Smart Freight are open to the entire nation, with a focus on four areas: product and technology R&amp;D, operations, support functions, and business development. There are hundreds of positions available, in cities that include Beijing, Shanghai, Guangzhou, and Shenzhen, as well as Nanjing, Tianjin, Chengdu, Qingdao, and Dalian. The overall number of recruits increased by 40% over the same period last year, with product and technology R&amp;D positions accounting for more than 30%. <br> <br>The relevant person in charge from FOR-U Smart Freight said, “Since the launch of the SME (small and medium-sized carrier) business of our platform last year, order volume has grown steadily, resulting in a large talent gap. We hope our Fall Recruitment Program meets our needs for talent so we can further develop our business. In addition, based on the company&#039;s strategic talent reserve plan, the recruitment of more potential talent will further improve our talent pool structure for the future. <br> <br>Founded in 2015, FOR-U Smart Freight is a tech-driven road freight transportation platform, focusing on the field of full truckload transportation. Its big data and AI-based smart logistics platform has been built to provide upper- and lower-reach parties with full-process services across the entire shipping process, while helping shippers and carriers reduce information acquisition costs, improve vehicle operating efficiency, and optimize the overall transport service experience. <br>#fuyoukache <br>[a]https%3A%2F%2Fwww.for-u.com%2Fen%2Fnews.html%0A[/a]

Forwarded from gmw.cn <br> <br>On July 26, road freight platform FOR-U Smart Freight announced on its official WeChat account the opening of its Free Transportation for Relief Supplies channel, offering free transport services on any large donation of supplies made in support of flood relief in Henan province. <br> <br>Due to heavy rainfall, many regions in Henan province are facing shortage of living and medical supplies. ForU Trucking said at the time that, “As of today, any donor across China, be they private individual or corporate enterprise, who pledges to donate large quantities of supplies to assist in afflicted areas, can register their donation details, as well as their vehicle needs, via the FOR-U caring hotline or via the Rescue of Henan section on FOR-U Shipper App. By doing so, donors can access free transport services on vehicles dedicated to the flood relief efforts in Henan.” <br> <br>FOR-U Smart Freight stated that, in the face of such devastation and tragedy, all parties across society should help with the helping relief effort. As we witnessed such an outpouring of supplies ship to the afflicted areas, we were deeply touched by the great love within society. FOR-U hopes to do its best, that during the relief and post-disaster reconstruction stage, FOR-U will continue to provide green channel services and to help the community get their supplies to the afflicted areas promptly. <br> <br>FOR-U Smart Freight is a tech-driven road freight transport platform, but also the first commercialized AI tech-based full truckload performance platform. With big data and AI technology at its core, FOR-U Smart Freight has built an intelligent logistics system, providing upper- and lower-reach parties with full-process smart services across the entire shipping process. <br> <br>In January last year, at the beginning of the COVID outbreak, FOR-U Smart Freight organized a volunteer fleet to urgently receive and respond to requests from local governments, public welfare organizations, enterprises, institutions, and medical equipment manufacturers to aid with pandemic relief efforts in infected areas. In only two months, FOR-U Smart Freight transported nearly 2,000 tons of supplies. <br> <br>This January, the epidemic resurged in some areas, which affected local road freight transportation. FOR-U Smart Freight quickly developed a road conditions system, and in only 48 hours, the Road Conditions in Epidemics function was released, combining traffic data with real-time online information shared by carriers to provide freight carriers with some guidance in such a difficult time. This was the first time that such a function had been used in the tech-based logistics industry. <br>#ForU Trucking <br> <br>[a]https%3A%2F%2Fpartners.wsj.com%2Ffor-u%2Fsmart-freight%2F[/a]

Forwarded from yahoo finance <br> <br>On June 21, fuyoukache, a leading technology-driven road freight transportation platform, published its performance report for the 618 shopping festival. As a new business segment, catering to small and medium-sized enterprise (SME) shippers, For-U’s SME business continues to grow rapidly, and has become an important growth engine for the company, second only to the solid development of its KA business, which caters to key accounts or large enterprise (KA) shippers. <br> <br>This year’s June 18 shopping festival was a whirlwind of activity for China’s largest e-commerce platforms, as Kuaishou took dramatic steps to elevate its overall experience, TikTok upped its private live-streaming game, JD shifted focus to appeal to a younger crowd, while Tmall slashed prices across the board. These promotional campaigns and events increased demand significantly for the freight transport market. As indicated in the For-U Performance Report, business growth was robust across all Tier 4 and below cities for 618, with a 91.98% overall year-over-year (YoY) growth in freight entry volume, and a YoY growth rate of over 100% in 19 cities across China, including Liangshan, Xuchang, Yulin, and Dali. <br> <br>Massive Growth in SME Demand <br> <br>For-U Smart Freight is a leading tech-driven road freight transport platform in China, known as a “Gemini Twinstar” in China’s freight industry, alongside the Full Truck Alliance, also known as Manbang Group. Unlike Full Truck Alliance, whose services aim to match shippers and truckers, For-U is focused on end-to-end closed-loop transactions by participating in all aspects of the freight transaction process between shippers and carriers. <br> <br>Over the course of the company’s development, For-U has laid a solid foundation through serving its KA customers. Starting in July last year, For-U launched its SME business, offering its mature high-quality services to smaller enterprises, and enabling them to enjoy the same level of service as large enterprises. The dual growth engines of KA and SME businesses are what will drive For-U into the future, allowing for faster business expansion and revenue growth. <br> <br>According to For-U’s 618 Performance Report, the company’s SME business has continued to grow for 10 consecutive months, contributing an increasing number of orders to the company. In March and April of this year, 22.8% and 26.7% of For-U’s total orders came from SME business, respectively. <br> <br>AI Services Approaching Maturity <br> <br>As outlined in For-U Smart Freight‘s public offering prospectus, the company has developed the “ForU Brain,” an AI- and big data-driven centerpiece encompassing three systems——smart pricing, smart dispatching and smart services , allowing For-U to participate in each step along the entire freight transaction process. <br> <br>Bolstered by its full-chain, closed-loop transaction platform, For-U has accumulated massive amounts of user data, which serves as the basis for its smart decision-making across every link of the transaction chain. Additionally, with the continued expansion of its mass data library, For-U’s algorithms are gaining new levels of precision. The Performance Report states that during 618, For-U platform’s customer support bots successfully accommodated 87% of users, while its on-time freight delivery rate for the period was 96.1%—a testament to the maturity and efficiency of its AI application. <br> <br>Near 90% Increase in Freight Driver Numbers YoY <br> <br>Thanks to the standardized services and guaranteed transactions on For-U’s closed-loop freight transaction platform, more drivers than ever before are choosing to take their orders through For-U Smart Freight, with the number of truck drivers using For-U’s platform over the 618 period growing by 88.53% YoY – the unique value propositions created by For-U’s end-to-end closed-loop transaction platform also become For-U’s unparalleled competitive edges in expanding its market. <br> <br>During the shopping festival, the fastest time from order placed to order acceptance by a driver was just nine seconds, while the most earned by a single driver over the same period was RMB 57,804. The digitization of freight transportation has encouraged a younger crowd to join the ranks of truckers, with the youngest driver on the platform roster for the festival a Zoomer, at just 21 years old. <br> <br>Strong Performance in Emerging Urban Centers <br> <br>The freight market is currently capitalizing on the strong growth in demand from emerging markets in lower-tier cities, mirroring the overarching trend in the e-commerce market. For 618 this year, as many as 81% of JD’s new users came from emerging cities, reflected in the similar growth in the freight market. According to For-U’s Report, the YoY increase in freight entry volume for 618 across Tier 4 cities and below was 91.98%, and from these, 19 cities—including Liangshan, Xuchang, Yulin, and Dali—saw growth more than double. <br> <br>According to For-U’s transportation data, the longest distance traveled on a single trip order during 618 was 4,702 kilometers, from the coastal city of Wuxi, in Jiangsu province, to Aksu, in the western reaches of Xinjiang, while the data also shows that the five busiest freight expressways over the period were: Shanghai-Nanjing, Beijing-Hong Kong-Macau, Guangzhou-Shenzhen, Shanghai-Chengdu, and Chengdu-Chongqing. The five cities with the highest volumes of outbound freight were Xi’an, Suzhou, Jiaxing, Wuhan, and Chengdu. <br>#fuyoukache <br>[a]https%3A%2F%2Fwww.for-u.com%2Fen%2Fnews.html[/a]

Forwarded from sina.com.cn <br>On April 26, 2021, Great Strategy Consultants (GEI) hosted the China Fast-growing Enterprises Conference in Tianjin and celebrated the release of the 2021 China Unicorns Research Report, with FOR-U Smart Freight selected for its creation of new value through innovative technologies in the road freight industry. <br> <br>Greatwall Strategy Consultants was the first consulting firm to publish research on unicorn enterprises in China, and has released its China Unicorns Research Report for six consecutive years. The unicorns selected in the report needed to be unlisted companies that are less than ten years old and with a valuation of more than $1 billion. <br> <br>According to the report, the total combined valuation of unicorns in China exceeded $1 trillion for the first time in 2020, with the unicorn enterprises selected on the list coming from 27 sectors, with most clustered in sectors such as smart logistics, new energy and smart cars, digital entertainment, and others. <br> <br>Unicorn enterprises are distinctive from other, more traditional companies in they disrupt through innovation and play an important role in the development of new industries and the application of new technologies. Through in-depth integration of AI technology, big data, a service system, and its platform business model, FOR-U Smart Freight makes road freight simpler and smarter, providing a new technology platform and services to carriers and shippers in China, bringing road transport into a new age. <br> <br>As the first platform in China to apply AI technology to road transport, ForU Trucking introduced its &quot;FOR-U brain&quot; smart platform. Through smart dispatching, pricing, and services, it provides comprehensive inquiry, pick-up, delivery, and contract settlement services for both upstream and downstream stakeholders across the entire road freight process. At the same time, it helps shippers and carriers reduce the cost of information access, improve vehicle operating efficiency, and optimize the transport service experience. <br> <br>In recent years, FOR-U Smart Freight’s innovative business model has been recognized by a number of international institutions. In November 2020, Forbes China included FOR-U Smart Freight in its 2020 Forbes China Gazelle List, while FOR-U Smart Freight was the only company in China&#039;s truckload sector to make the Boston Consulting Group’s 2020 BCG Tech Challengers list. <br> <br>In addition, FOR-U Smart Freight and Trunk, China’s leader in autonomous driving, established a joint venture that would see the two companies combine their technological advantages to build a new generation of AI transportation network, and to apply autonomous driving technology to trunk road transportation. <br>#ForU Trucking <br>[a]https%3A%2F%2Fwww.for-u.com%2Fen%2Fnews135.html[/a]

Being able to make money just a little bit faster—so that he can provide his family with better living conditions—is what Yin Xianwen, a truck driver from Anqing City in China’s Anhui Province, wants most from life, a sentiment echoed by many in his position across China. Just 10 years ago, realizing such a wish would have needed a healthy supply of patience, given the limitations of China’s internet development at the time. <br> <br>Luckily, following nearly a decade of catalyzing technologies, such as the increasing pervasiveness of mobile internet, artificial intelligence and the Internet of Things, the boundaries of China’s market volume are being broken down, with a number of Chinese companies capitalizing and making their presence known throughout the world. Refinements to China’s business infrastructure are being driven by a myriad of internet enterprises, including Alibaba, Tencent, DiDi, ByteDance, and FOR-U Smart Freight. <br> <br>Internet connectivity has permeated every facet of front-end consumer demand, touching every aspect of life, even those that involve life’s basic necessities. In the front-end consumer sectors, niches left to be filled by budding entrepreneurs are few and far between. However, like the road freight sector that Yin Xianwen presently endeavors in, another traditional sector has long eluded the upsurge of internet connectivity but is now being transformed by a new wave of cutting-edge technology. <br> <br>China’s supply-side market is ushering in a new era. <br> <br>Fuyoukache, hailed as China’s “Uber Freight,” is a technology-enabled road freight platform that specializes in truckload transportation, especially full truckload (FTL) shipping, a particularly efficient and cost-competitive mode. The 2020 Blue Book of China’s Logistics Industry, published by China Insights Consultancy (CIC), indicates the trucking and FTL market sizes for 2020 were worth RMB 6.1 trillion and RMB 3.7 trillion, respectively. <br> <br>And yet, China’s trucking industry continues to face a host of critical issues. <br> <br>On the shipper side of the equation, finding carriers can be a cumbersome and inefficient process. Freight rates are volatile and lack transparency. Lack of services and dispatch delays are prevalent during loading and shipment. En-route order tracking remains limited, and cost settlement suffers from a lack of standardization and significant risk. <br> <br>On the carrier side, drivers often experience difficulties identifying legitimate loads. They are also hurt by volatile and nontransparent freight rates. Transport capacity is often undercut by inefficient utilization, and issues such as a lack of payment guarantees and protracted payment periods plague the settlement process. <br> <br>Technology is both the vehicle and solution by which FOR-U curbs costs and enhances efficiency for the industry. <br> <br>FOR-U Smart Freight delves deep into all links of the transportation chain, employing a uniquely innovative, whole-sector performance model that focuses on the industry’s pain points. It has established an intelligent logistics system centered around big data and AI technology to provide upper- and lower-reach parties with full-process performance services, from quotation to shipment to settlement, in the name of resolving all fundamental pain points pertaining to both shippers and carriers. FOR-U assists consigning companies and truck drivers in curtailing information acquisition costs, while enhancing operational efficiency and optimizing the overall freight transport service experience. <br> <br>Throughout the course of FOR-U’s development—from the early stages of online platform adoption through standardization to the implementation of smart technology—the platform has held steadfast to its principle of tech-based guidance, employing a mindset that encompasses both internet-centric thinking and traditional logistics to transform China’s road freight industry. <br> <br>Driven by a mission to “make road freight simpler and smarter,” FOR-U’s founder and CEO, Shan Dandan, has outfitted the domestic road freight sector with a tech-based core. Through research and development into segments such as smart pricing, smart dispatching and smart services, her company’s tech team has built a full-process performance model for the platform to elevate FTL transport in both efficiency and quality. <br> <br> <br>Shan Dandan, FOR-U Smart Freight Founder and CEO <br> <br>Shan Dandan is a pioneer in digitalizing FTL transportation and a beacon that has amassed the best minds from logistics and internet sectors. She believes that the limitations imposed on a company are defined by the cognitive limitations of its founder. As such, she has chosen to pursue advanced studies at the internationally renowned Tsinghua University PBC School of Finance. <br> <br>Shan has received a number of accolades, including being listed by Forbes China as one of the “Top 25 Power Businesswomen in 2018,” as “Asia’s Most Disruptive Entrepreneur for 2019” by Goldman Sachs, and featured in the Boston Consulting Group’s “2020 BCG Tech Challengers: The Next Generation of Innovation in Emerging Markets” report on behalf of her company. <br> <br>FOR-U Smart Freight’s technological groundwork was significantly bolstered by Chen Guanling’s entry into the company as its CTO in 2017. Chen was granted tenure as a professor at the University of Massachusetts Computer Science Department at the age of 35 and has dedicated his life to researching fields that include intelligent interactive systems and applications, mobile big data and cloud computing. He has presided over multiple U.S. National Science Foundation projects and currently serves as science advisor and product consultant for multiple mobile internet companies. <br> <br>Shan and Chen have massively expanded and reinforced the company’s economic moat. FOR-U’s proprietary FOR-U Brain—a big data and AI-based smart middle office system—is able to drastically improve sectoral transaction efficiency, significantly reduce deadheading and disruptive incidences, and guarantee safe and timely freight delivery. <br> <br>For its exceptional innovative capabilities and explosive growth, FOR-U Smart Freight has received worldwide recognition, including being named as one of the Boston Consulting Group’s Top 100 Emerging-Market Tech Challengers, as well as the Forbes China High Growth Company List for 2020. Riding the wave of this success, FOR-U has attracted investment from institutions including Jingdong Logistics, Global Logistics Properties and Matrix Partners China. <br> <br>In the six years since its founding, FOR-U’s partners have expanded to cover logistics companies such as Jingdong Logistics, Deppon Express, ZTO and SF Express; automotive companies such as Qingdao Doublestar and Great Wall Motors; and fast-moving goods companies such as the JDB Group, Wong Lo Kat and Budweiser, thus allowing its business to achieve full national coverage. In 2020, FOR-U’s trucking operational revenue ranked first among all of China’s tech-driven road freight platforms. <br> <br>FOR-U has made rapid headway during the first five years of China’s digital economy boom, with its headquarters relocated from Nanjing—situated in the hinterlands of the Yangtze River Delta—to Beijing’s Zhongguancun area, better known as China’s Silicon Valley, just a stone’s throw away from the headquarters of China’s internet tech titans. Over the next five years, under the purview of China’s 14th Five-year Plan, the benefits of a new era of smart logistics will empower FOR-U to elevate itself to new heights of prestige. <br> <br>Even now, the FOR-U Smart Freight platform gives shippers like Yin Xianwen the ability to seek out freight carriers that complement their needs in an expedient fashion, and allows for shippers and carriers alike to move more shipments, make greater gains and lead better lives through its efficient settlement process, flexible transportation options and user-centric service experience. <br> <br>In Shan Dandan’s view, great creators make for greater value than great followers, and FOR-U Smart Freight aims to be the former. FOR-U’s vision is one of commitment to becoming a world-leading, tech-driven road freight platform that is able to achieve the pinnacle of “seamless shipment, vehicle utilization, and participant satisfaction” across the global road freight sector. <br>#fuyoukache <br>[a]https%3A%2F%2Fwww.for-u.com%2Fen%2Fnews.html[/a]