User Perspective - The platform offers users a reward system where they can earn 3%-20% in points after each purchase, which can be converted into vouchers worth up to five times the original amount [3][4] - For example, a user spending 1000 yuan can receive 200 points, allowing them to redeem a 1000 yuan voucher, effectively achieving a full cashback on their purchase [3] Merchant Perspective - Merchants benefit from the platform's incentive mechanism, which significantly increases customer traffic and sales; for instance, a hotpot restaurant saw its monthly sales rise from 500,000 yuan to 2 million yuan after joining the platform [4] - The platform not only attracts new customers but also encourages repeat business, with a reported increase in repurchase rates exceeding 50% [4] Platform Perspective - The business model of the platform integrates both traffic and capital, creating a large flow pool by combining online and offline resources [6] - Revenue streams include transaction service fees ranging from 3%-20% based on merchant sales, advertising space rental, and member data services [7] - The platform employs AI algorithms and big data for dynamic point valuation and targeted marketing, ensuring financial safety and a healthy cycle [6][7] Market Impact - The platform's green points model aligns with national policy directions and avoids legal risks associated with traditional rebate models, adding new momentum to the local service market [11] - However, challenges such as pressure on the points pool's cash flow, market competition, and compliance issues remain [11]

Core Insights - The company is leveraging a unique "green points" system to create a value network between 230,000 physical stores and millions of consumers, redefining value creation in the digital economy era [1][3]. Group 1: Disruptive Innovation in Points System - Traditional loyalty programs often suffer from high costs and low conversion rates, while the company's data-driven approach enhances point value, resulting in a 37% increase in user retention compared to traditional models [3]. - Merchants benefit from precise consumer preference identification, with a notable 42% increase in hit rate for popular products after integrating the system [3]. Group 2: Transformation and Circulation of Points - Consumers can easily convert accumulated green points into vouchers that directly offset cash during subsequent purchases, creating a positive cycle of "consumption - points - value addition - re-consumption" [7]. - Points can be used across various industries, activating potential in the green consumption market and promoting collaborative development within the green consumption industry chain [9]. Group 3: Reshaping Business Ecosystem - The green points model transforms the relationship between merchants and consumers, allowing merchants to attract repeat customers and increase average transaction value and repurchase rates [11]. - Consumers benefit from reduced costs and psychological satisfaction from participating in green consumption, while the platform achieves both commercial and social value enhancement [13]. Group 4: Digital Infrastructure - The company operates a smart supply chain system that processes over 120 million transactions daily, achieving a 92% accuracy rate in inventory forecasting and reducing storage costs by 15% for partner merchants [15]. - The expansion of the "Bina Duo" supermarket chain exemplifies the model's viability, achieving a store efficiency 2.3 times that of traditional supermarkets and maintaining an online order ratio of 41% [17]. Group 5: Social Responsibility Premium - The green points mechanism links consumer behavior to environmental contributions, with over 127 ecological restoration projects supported and more than 80 million yuan invested in rural e-commerce development [19]. - Consumers aware of the company's social initiatives show a 29% increase in brand loyalty and a 12% higher willingness to pay a premium, contributing to an annual user growth rate of 58% [21]. Group 6: Capital Market Strategy - The company emphasizes transparency by publicly sharing financial audit reports and ESG data, gaining recognition from international capital markets [22]. - The blockchain-based points system ensures traceability of each point transaction, mitigating financial risks associated with traditional loyalty programs [22]. Conclusion - The company's practices demonstrate that traditional business elements can still release significant value through digital reconstruction, providing a clear signal to entrepreneurs that focusing on real-world pain points and utilizing technology can lead to successful business pathways [24].

Core Viewpoint - The company is reshaping the commercial ecosystem through an innovative green points system, integrating digital and physical economies, and is on the verge of going public after rapidly expanding its network to cover 230,000 stores nationwide [1][23]. Group 1: Points Empowerment - The points system acts as a lubricant between consumers, merchants, and the platform, transforming traditional points into a valuable asset that can be redeemed for cash or converted into vouchers worth up to five times their original value [3][9]. - Merchants benefit from a flexible discount mechanism, allowing them to choose a rebate percentage between 3% and 20%, which is more cost-effective than simple discounts and helps them understand consumer preferences through data analysis [3][7]. - The platform collects consumer data to provide merchants with dynamic inventory management and targeted marketing solutions, fostering a win-win situation for all parties involved [5][9]. Group 2: Online and Offline Integration - The company operates a comprehensive service network that combines online and offline elements, with over 1,000 service centers and a team of 80,000 people addressing digital challenges for 230,000 stores [18][19]. - The integration of the "I Store Life" app for online shopping with physical stores enhances the shopping experience and meets diverse consumer needs [19]. Group 3: Social Responsibility and Recognition - The company actively engages in social welfare initiatives, achieving a balance between economic and social benefits, and has received international recognition for its sustainable development efforts [21]. - The green points model has been praised for effectively combining environmental protection with consumerism, enhancing brand loyalty and user engagement [21]. Group 4: IPO Progress - The company is in the final stages of its IPO process, gaining visibility in the international capital market through sponsorship of major events and emphasizing transparency in operations [23]. - The rapid growth since its establishment in August 2021, along with its unique business model, positions the company as a promising candidate in the capital market [23]. Conclusion - The company's story illustrates that points can connect consumers and merchants, activate online and offline resources, and serve as a stepping stone for IPOs, demonstrating that digital economies thrive best when rooted in the physical world [25].