Huisuanzhang is a company that specializes in financial and tax services, operating within the financial services industry. The company offers a range of services including business registration, accounting, tax consulting, and financial outsourcing. It primarily serves small and medium-sized enterprises. It was founded in 2015 and is based in Beijing, Beijing.
Expert Collections containing Huisuanzhang
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Huisuanzhang is included in 3 Expert Collections, including Unicorns- Billion Dollar Startups.
Unicorns- Billion Dollar Startups
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Latest Huisuanzhang News
Jul 10, 2023
Consumer Discretionary Author: Zhisheng Wang, Yiran Xing Editor: Yiran Xing Updated 29 mins ago (GMT+8) In order to ensure the sustainable and stable development of micro, small and medium-sized enterprises (MSMEs), China has been strengthening its support for MSMEs in terms of finance and taxation, which has stimulated the rapid growth of the tax solutions market and attracted many investors to explore the investment opportunities hidden behind the industry. On June 30, 2023, Beijing Gongjin Technology Co. Ltd. (hereinafter referred to as "Huisuanzhang", Chinese: 慧算账) formally submitted a prospectus to the Hong Kong Stock Exchange for listing on the Main Board, with CITIC Securities (Chinese: 中信证券) as the exclusive sponsor. In the prospectus, Huisuanzhang stated that the net proceeds from the IPO will be used to expand its business, increase market penetration, explore strategic partnerships with leading companies in diversified industries, optimize its tax solutions, enhance its technological capabilities, make strategic investments and acquisitions, and for working capital and other general corporate purposes. Founded in 2015 as a tax solution provider, Huisuanzhang now offers AI-enabled tax solutions including accounting, invoicing, tax compliance and integrated financial management. It helps MSMEs at three levels: efficient operation, fine management and fiscal compliance. The core fiscal SaaS system, known as the SATP system, incorporates a high-performance intelligent accounting engine that is constructed using its own machine learning model. In terms of scale, SATP served 711,259 MSMEs in 2022, with a customer retention rate of 84.9% in 2022, well above the industry average of 60% to 70%, and the highest retention rate among the top five solution providers by revenue in 2022. According to Frost & Sullivan, as of the last practicable date, the company has accumulated approximately 262 million multidimensional model parameters related to MSME business and fiscal processes from over 242.2 million tickets, resulting in the largest set of parameters in the industry. According to Frost & Sullivan, based on total revenue from 2020 to 2022, Huisuanzhang is the largest SME tax solution provider in China, with nearly four times the market share of the second largest player in 2022. It is also the company with the largest number of direct SME customers in China's SME tax solution industry in 2022. In terms of internationalization, Huisuanzhang has served more than 1.2 million global corporate clients. In 2018, A cooperation signing ceremony was conducted in Beijing between Huisuanzhang and the International Financial Management Association, during which there was a comprehensive discussion on the investment of educational resources and the strategic planning of financial talent development. In 2023, Huisuanzhang was listed on the Hurun Future Unicorns in the World 2023, serving as further affirmation of the company's capacity to deliver advanced digital intelligence solutions tailored to the needs of businesses. The major competitors of Huisuanzhang include Chinese companies such as HiTouch (Chinese: 大旗财税) and Kingdee (Chinese: 金蝶), as well as international players such as Pilot from the U.S. and VAT from Germany. Selected reports
Huisuanzhang Frequently Asked Questions (FAQ)
When was Huisuanzhang founded?
Huisuanzhang was founded in 2015.
Where is Huisuanzhang's headquarters?
Huisuanzhang's headquarters is located at 8th Floor, China Power Information Building, No. 6, Zhongguancun South Street, Haidian District, Beijing.
What is Huisuanzhang's latest funding round?
Huisuanzhang's latest funding round is Series D.
How much did Huisuanzhang raise?
Huisuanzhang raised a total of $227.34M.
Who are the investors of Huisuanzhang?
Investors of Huisuanzhang include Xiaomi, Gaocheng Capital, Sunshine Insurance Group, Swift Hover, Baidu AI Accelerator and 12 more.