Li Yiduo (third from left), CFO of Transwarp, interacts with participants during the eighth sharing event of the CFO Salon on in Beijing on June 25, 2023. (PROVIDED TO CHINA DAILY)

In the eighth sharing event of the CFO Salon on June 25 in Beijing, finance professionals gathered to gain valuable insights from Li Yiduo, the CFO of Transwarp. 

During her engaging presentation, Li discussed the necessary attributes and development paths of finance practitioners. She shed light on the essential skills and knowledge required for success in the field. Li graduated from Shanghai University of Finance and Economics in 1998 with a major in finance and accounting. She used to work in one of the Big Four accounting firms and and companies from different industries.

Understanding the business and its dynamics

One of the crucial attributes emphasized by Li was the importance of finance professionals understanding the business they operate in. She shared her own experiences, highlighting how her background in finance, combined with a deep understanding of the industry, played a pivotal role in her career progression.

Li drew attention to the fact that finance professionals should go beyond numbers and financial statements. They should strive to comprehend the dynamics of the business, including its operations, market trends, and competitive landscape. By doing so, finance practitioners can provide strategic insights and contribute to the company's overall success.

Embracing ERP systems and technological advancements

Another vital aspect discussed by Li was the role of Enterprise Resource Planning (ERP) systems and technological advancements in the finance domain. She emphasized that finance professionals should familiarize themselves with these tools and leverage them to streamline processes, enhance efficiency, and improve decision-making.

Li shared her experience at Lear Group, where she played a significant role in implementing ERP systems that transformed the company's financial operations. She highlighted the immense value of these systems in providing real-time data, automating tasks, and facilitating accurate financial reporting.

The event proved to be an invaluable opportunity for financial professionals seeking to integrate into their companies and contribute to their success. By understanding the business and embracing ERP systems, finance practitioners can position themselves as strategic partners within their organizations, driving growth and profitability.

Overall, Li's insights shed light on the necessary attributes and development paths for finance practitioners. By prioritizing a deep understanding of the business and leveraging technological advancements, finance professionals can excel in their roles and make a significant impact on their companies' success.

Li Yiduo, CFO of Transwarp (PROVIDED TO CHINA DAILY)

Questions & answers

Question: After the launch of the registration system, how does the CFO manage the control of sensitive information in the pre-IPO round, and what are the considerations for the introduced investors?

Answer: At that time, the company did pre-IPO financing with four considerations: first, selecting relevant investors with future in-depth cooperation opportunities, such as those under the Chinese Academy of Sciences; second, selecting investors with strategic cooperation as the main focus rather than just for making money; third, facilitating the subsequent listing and avoiding the entry of foreign capital; fourth, from the perspective of valuation, in order to safeguard the interests of the investors, Transwarp did not increase the valuation by more in the pre-IPO round, leaving room for subsequent growth after the IPO.

Question: How do you view the pharmaceutical track and what factors will CFOs consider when choosing a company to work for?

Answer: The pharmaceutical track is a very good track, Li did relevant due diligence before choosing Transwarp, on the one hand, she had an in-depth research on the company's technology level, on the other hand, she also had several rounds of communication with the founders and the executive team, which paved the way for the smooth operation of the subsequent joining of the company.

Question: Transwarp is a big data related company, what kind of opportunities will AI+Tax present under the background of AIGC is very hot at present? How to seize such opportunities?

Answer: Transwarp has its own needs in tax planning, from the perspective of taxation, firstly, the data needs to be collected completely; secondly, taxation needs to have its own related AI big model to summarize the relevant information and improve the efficiency of the big model training; thirdly, it should also pay attention to the security of the data.