Release of the 2023 Guangdong-Hong Kong-Macao Greater Bay Area LuDuan Fintech Enterprise 20 List at the 2nd Edition of Shenzhen Fintech Festival

As the main event of the second edition of Shenzhen Fintech Festival, the 2023 China (Shenzhen) Financial Technology Conference took place in the morning of 29 November. This is also the seventh annual financial technology themed conference held in Shenzhen since 2016. The 2023 Guangdong- Hong Kong-Macao Greater Bay Area Financial Technology LuDuan Enterprise 20 List (referred to as “GBA Luduan Fintech Enterprise 20 List”) was officially released at the conference.

With the support of the Hong Kong Special Administrative Region Government's Financial Services and Treasury Bureau, Shenzhen Municipal Local Financial Regulatory Bureau, Shenzhen Science and Technology Association, and Shenzhen Municipal Futian District People's Government, the Shenzhen Fintech Association, Invest Hong Kong, Shenzhen Hong Kong Macao Financial Technology Alliance, Hong Kong Computer Society and KPMG China joined forces to organise the “GBA Fintech Luduan Enterprise 20 List” Competition, with the Hong Kong Cyberport Management Limited serving as the cooperating unit.

“GBA Luduan Fintech Enterprise 20 List” is a brand upgrade based on the “2021 Guangdong-Hong Kong -Macao Greater Bay Area Financial Technology Flying Fish 20 Enterprise List”. Luduan” (甪端) is a legendary Chinese auspicious creature and the “GBA Fintech Luduan Enterprise 20 List” aims to select a group of 20 highly scalable enterprises with strong scientific and technological innovation capabilities and high future growth potential in the financial technology field in the Greater Bay Area, in order to promote high-quality development of the financial technology industry in the Greater Bay Area.

At the conference, Yu Huali, Chief Engineer of Shenzhen Stock Exchange, and Sun Nan, a member of the Party Group of Shenzhen Association for Science and Technology, presented awards to the 20 Luduan enterprises. “The GBA Luduan Fintech Enterprise 20 List” grandly kicked off at the 2023 Bay Area (Shenzhen) Financial Technology Talent Season Launch Conference in April this year, with over a hundred financial technology companies competing to pursue it.  The 20 Enterprises are selected by eight months of rigorous screening conducted by twelve fintech experts from institutions such as the Shenzhen Stock Exchange, Ping An, Bank of China Hong Kong, WeBank, Bosera Fund, Shenzhen Capital Group (SCGC), China Merchants Life Insurance, Shenzhen Kingdom Sci-Tech Co., Ltd, Hong Kong Computer Society and KPMG China, etc. The selection is based on degree of innovation, ability to popularise financial services, recognition by the capital markets, technology and data capabilities etc.

Analysis of the 2023 GBA Luduan Fintech Enterprise 20 List

Luduan Enterprise 20 presents a vibrant development of fintech enterprises in the Greater Bay Area. According to the list analysis, in terms of fintech sub-categories, technology to promote fintech inclusiveness ranked first, followed by compliance technology, insurance technology, and big data& AI, with all three ranking for second place.

From the perspective of regional distribution, the 20 listed companies are mainly located in Shenzhen, Hong Kong, Guangzhou, Zhuhai and other places. Among the enterprises in Shenzhen, 10 enterprises are located in Futian, and 8 are hosted in the Futian Fintech Dual Industrial Park.

From technology deployment perspective, big data, artificial intelligence, cloud computing, deep learning, and blockchain are still the most important technologies in the industry.

From the distribution of financing rounds, nearly 90% of enterprises requires financing, and 50% are in early stage of financing.

From the perspective of company valuation, companies in the range of 1 Billion RMB to 3 Billion RMB account for 39%.

As an important demonstration of deepening fintech cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area, the “GBA Luduan Fintech Enterprise 20 List” plays an important role in promoting the interconnection of financial markets in the Greater Bay Area and the reinforcing Hong Kong’s role as an International Financial Centre. In the future, Luduan enterprises will continue to play a demonstrative role in the development of the fintech industry, create an innovative atmosphere, improve the fintech industry cluster, and promote the high-quality development of the fintech industry in the Greater Bay Area.

This article was published by Shenzhen Fintech Association and has been translated into English. If there is any inconsistency or ambiguity between the English version and Chinese version, the latter one shall prevail. The full text of the article, in Chinese, can be found below:

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