No longer have to worry about the air conditioning in the office area is too cold.
Interviewed company: En-trak Hong Kong Limited
Respondent: Founder and CEO Zhou Guangming
The company’s big track: Real Estate Technology (PropTech)
The company’s segmentation track label: tenant experience
Q1, what progress has the company made in the past year?
In August 2018, the company received a investment from Alibaba Venture Capital and CLP Power.
In March 2019, the company launched the En-trak Business Tenant Experience Platform Solution. Through this program, each user in the office building can freely control the temperature and lighting in his office through the mobile APP. Moreover, this solution is applicable to any central air conditioning system that can help the owner improve the tenant’s employee experience and comfort. So far, the program has been adopted by major developers in Hong Kong, Singapore and the Mainland. In addition, the company has entered the Thai market in May 2019.
En-trak Commercial Tenant Experience Platform Interface
Q2, 2019, the next time, the company may have new progress in technology, products, commercialization, financing, team, etc.
In addition, the company will launch several new mobile application modules this year to help owners and tenants improve operational effectiveness.Rate, and then create a seamless commercial building tenant experience platform. The company has also signed strategic agreements with some real estate developers to customize some of their software functions to suit the needs of individualized scenarios. At the same time, the company has also put a lot of effort into perfecting machine learning algorithms, hoping to make the system smarter and more automatically regulate the personal work environment.
At present, the company is also undergoing a new round of financing to continue to expand its business in the Mainland and Southeast Asia.
Q3, 2018, the three things that have the greatest impact on the industry in the industry?
(1) Data show that in 2018, there are 20 billion US dollars in real estate technology-related fields, an increase of 38% compared with the previous year, of which 60% is invested in Asia. Industry giants’ attention to real estate technology has increased significantly. Jones Lang LaSalle has established a 100 million RMB real estate technology fund, and Swire Properties has also established the New Venture team to focus on evaluating the application of different real estate technologies.
(2) We have noticed that major real estate companies have made significant progress in their knowledge and acceptance of technology. In the past few years, we have to talk about and introduce our products and functions. Most of our customers have already got a certain understanding of these technology solutions, and can compare the advantages and limitations of different solutions, so as to introduce more positively and application.
(3) In 2018, the amount of investment in domestic commercial real estate market increased by 4% over the previous year, reaching RMB 251.7 billion, a record high. The data shows that most of these growth comes from overseas funds, which has also driven the industry investment and competition of our real estate technology.
Q4, 2019, what are the major events in the industry that will be concerned?
In 2019, we will pay close attention to the trend of the international environment. Businesses are sensitive to the business environment and affect our customers’ investment in real estate properties, including technology and IoT products and services. In the case of weak demand for office building leasing, forward-looking owners will be more concerned about enhancing the attractiveness of their properties and using technology to improve operational efficiency and reduce costs.
Q5, 2019, what are the things and trends that will occur in the industry and the direction of the subdivision?
Under the general trend of protecting the environment and sustainable development, I believe that in the next few years, more real estate companies will introduce technology into real estate projects to meet the needs of users and enhance their experience.
This year we have also seen a number of organizations organizing large and small real estate technology enterprise accelerator programs. For example, “Chengyue” launched by Jones Lang LaSalle, Swire Properties and Ping An City; “POWERACE” Accelerator Program organized by Asia Green Energy in Singapore. We expect that more science and technology companies will join the real estate technology field.
Q7, 2019, what kind of competition pattern will the industry in which the company is located present? Where is the company’s competitiveness reflected?
As mentioned above, more new startups will join the industry competition in the next two years. En-trak entered the market relatively earlier, and accumulated a lot of experience and foundation in the industry. The team also has a certain understanding of customer needs and purchasing habits. Since its inception in 2013, the company’s program has been adopted by more than 400 international companies. Coupled with the support of Alibaba and China Light and Power, the company’s competitiveness has also increased.
Q6, 2019, the company on the track where the company is located, what must be done?
B2B business has a slow pace and long cycle, which is more obvious in the real estate technology industry. If you want real estate developers to accept and trust the company’s products and services, it will take a long time to prove and lobby. In the real estate industry, there are no more than 150 real estate developers across Asia, and they already have a market share of 75% or more.
Therefore, I want to survive in this industry and serve them. More need for our customer experience and service, from start to finish, from the front desk to the logistics must exceed customer requirements and expectations. This will continue to ensure that these customers are willing to continue to make our En-trak the preferred partner, or they may be out.