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本文档落款 2026-09-29 之前，记载转型前研究；自 2026-09-29 起公司主线唯一为 N=1（运营 Miao 的人生），AI 代采购/AI Data Go 产品线已撤销。
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口径变更声明 / Positioning Update Notice (2026-09-29)
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本文件记录形成时的公司口径。2026-09-29 董事会决议（N=1 pivot，
D368）撤销"AI 代采购"/"AI Data Go"产品线：主线业务只剩 N=1
（创始人个人 AI 操作系统，只服务苗家辉本人）；vertciti 不再
提供 AI 采购代办/对外代采购服务。本文件正文不追溯修改，
请以官网当前页面为准。

This file records the company's positioning at the time of writing.
Per the 2026-09-29 board resolution (N=1 pivot, D368), the
"AI procurement concierge / AI Data Go" product line is retired:
the only mainline is N=1 (the founder's personal AI OS, serving
Jiahui Miao only); vertciti no longer offers procurement concierge
services. The body below is not retroactively edited. Refer to the
live site for current positioning.
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Agent Commerce Market Sizing (2026)
Agent Commerce 市场规模（2026）
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vertciti Data Room · Public Document
Date: 2026-09-26 (data as of 2026-09-25) | Version: v1
Sources: McKinsey "The agentic commerce opportunity" (2025-10,
  reconfirmed in Europe report 2026-03); Juniper Research official
  press release (2026-04-07); vertciti market-sizing research
  (2026-09-24) for secondary citations. Figures below are
  third-party institutional forecasts, NOT vertciti's own numbers.
Classification: Public — contains no confidential information.
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ENGLISH
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1. TWO ANCHOR FIGURES (CFO-VERIFIED DEFINITIONS)

We cite two figures together, always with their definitions,
because they measure DIFFERENT things:

(a) Juniper Research — $1.5 TRILLION by 2030 (transaction value)
  - Source: Juniper Research official press release, 2026-04-07.
  - Definition: agentic commerce SPENDING (transaction value);
    only $8B in 2026.
  - Why we lead with it: transaction-value definition is the
    closest to vertciti's GMV take-rate business model.

(b) McKinsey — $3–5 TRILLION by 2030 (upper narrative)
  - Source: McKinsey "The agentic commerce opportunity"
    (2025-10); reconfirmed in the Europe report (2026-03).
  - Definition: ALL new commercial opportunity from agent
    orchestration — including brand, logistics, and payments —
    NOT transaction value alone. Must be stated with this scope.

2. WHY FORECASTS DIVERGE ~35x: THEY MEASURE DIFFERENT THINGS

The same term "agentic commerce" means different things per
institution. Listed narrowest to widest:

  - eMarketer: $144B (2029) — e-commerce completed INSIDE AI
    platforms only (narrowest). [secondary citation]
  - Morgan Stanley: $190–385B (US, 2030) — purchases executed
    autonomously by agents (10–20% of e-commerce).
    [secondary citation]
  - Bain: $300–500B (US, 2030) — purchases agent-initiated,
    influenced, OR completed. [secondary citation]
  - Juniper: $1.5T (global, 2030) — agentic commerce transaction
    value. [official press release]
  - McKinsey: $3–5T (global, 2030) — all orchestrated commercial
    opportunity. [official report]

Note: [secondary citation] = relayed via credible media; original
institutional text not directly verified. Do not present these as
equally-sourced facts.

3. GARTNER "MACHINE CUSTOMERS" (HANDLE WITH CARE)

  - Gartner (via analyst Don Scheibenreif, "When Machines Become
    Customers"): machines will influence or participate in $30T
    of purchasing by 2030. [secondary citation; original report
    is paywalled]
  - Critical scope note: "influence or participate" is a WIDE
    definition — it is NOT direct order value. Cite only with
    this qualification.

4. WHAT vertciti DOES NOT CLAIM (RED LINE)

vertciti is pre-launch. The following numbers DO NOT EXIST and
must never appear in any material: revenue, GMV, order counts,
registered users, signed suppliers, partner lists, valuations,
or any "already live / already generating income" phrasing.

5. WORKING ASSUMPTION — LABELED AS ESTIMATE

  - Phase 1 concierge service fee: 3–5% of order value, charged
    on successful orders ONLY.
  - Status: 工作假设 / working hypothesis (ESTIMATE) — pending
    validation by real orders. This is a planning assumption,
    not a committed price.

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一、两个锚定数字（CFO 核定口径）

我们同时引用两个数字，并永远附带各自的口径定义，因为它们
量的根本不是同一个东西：

(a) Juniper Research——2030 年 1.5 万亿美元（交易额口径）
  - 来源：Juniper Research 官方新闻稿，2026-04-07。
  - 口径：agentic commerce 支出（交易额）；2026 年仅 80 亿。
  - 为何放前面：交易额口径与 vertciti 按 GMV 抽成的商业模式
    最贴近。

(b) McKinsey——2030 年 3–5 万亿美元（上限叙事）
  - 来源：McKinsey《The agentic commerce opportunity》
    （2025-10），2026-03 欧洲报告再次确认。
  - 口径：agent 编排带来的全部新增商业机会（含品牌、物流、
    支付），非仅交易额。引用时必须讲清这个口径。

二、为什么各家预测差 35 倍：量的不是同一个东西

"agentic commerce"在各家机构笔下口径不同，从窄到宽排列：

  - eMarketer：1,440 亿美元（2029）——仅 AI 平台内直接成交
    （最窄口径）。[二级引用]
  - Morgan Stanley：1,900–3,850 亿美元（美国，2030）——agent
    自主执行的购买（占电商 10–20%）。[二级引用]
  - Bain：3,000–5,000 亿美元（美国，2030）——agent 发起、影响
    或完成的购买。[二级引用]
  - Juniper：1.5 万亿美元（全球，2030）——agentic commerce
    交易额。[官方新闻稿]
  - McKinsey：3–5 万亿美元（全球，2030）——agent 编排带来的
    全部商业机会。[官方报告]

注：[二级引用]=经可信媒体转述，未见机构原文；不得当作同等
来源的事实呈现。

三、Gartner "Machine Customers"（谨慎引用）

  - Gartner（分析师 Don Scheibenreif《When Machines Become
    Customers》）：2030 年机器将影响或参与 30 万亿美元采购。
    [二级引用；原始报告为付费墙]
  - 关键口径说明："影响或参与"是宽口径，不是直接下单交易额。
    引用必须带此限定。

四、vertciti 不宣称什么（红线）

vertciti 尚未上线。以下数字不存在，任何材料不得出现：营收、
GMV、订单数、注册用户数、已签约供应商、合作机构名单、估值、
"已上线/已产生收入"类表述。

五、工作假设——已标注为估算

  - 第一阶段代办服务费：订单金额 3–5%，仅成功订单收费。
  - 状态：工作假设（估算/estimate），待真实订单验证。这是规划
    假设，不是承诺价格。

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