25-26 May 2021 – Sheng Ye Capital Limited (“SY Capital” or the “Company”,
together with its subsidiaries, the “Group”, HKEx: 6069), China’s first
commercial factoring company listed on the main board of the Hong Kong Stock
Exchange announced that it has been invited to attend the Inaugural Jiangsu
Commercial Factoring Association (the “JCFA”) Conference.
The JCFA convened its inaugural meeting with over 70 members at the
Commercial Factoring Industry Innovation and Development Forum held on May 25-26,
in Nanjing, Jiangsu Province. The new association and inaugural conference
reflect the stage of development of the commercial factoring industry in
Jiangsu Province as it gradually becomes more standardized and orderly.
Established with the support of the Jiangsu Provincial Department of Civil
Affairs and the Jiangsu Provincial Administration of Local Financial
Supervision, the Conference attracted over 200 representatives from commercial
factoring companies, banks, securities companies, technology enterprises, and
related organizations across the country. Some notable attendees included: Wang
Huan, Secretary General, and Cai Baoxiang, Chairman, of the Jiangsu Commercial
Factoring Association, Qiu Zhiqiang, Deputy Director of the Jiangsu Provincial
Administration of Local Financial Supervision, Qu Weixi, Vice President of
Chinese Academy of International Trade and Economic Cooperation, government
officials from the Nanjing Municipal Financial Regulatory Bureau, Han Jiaping,
Director of the Commercial Factoring Expertise Committee of the China
Association for Trade in Services (CATIS), Li Wei, Secretary General of the
Commercial Factoring Expertise Committee of the China Association for Trade in
Services (CATIS), and Lin Hui, Regional Director for Northeast Asia of Factors
Chain International (FCI).
Wuxi Guojin
Commercial Factoring Co., Ltd. (“Guojin Commercial Factoring”), the Vice
Chairman of the new JCFA, hosted the conference. Jiangsu Province has been
rolling out policies and measures in recent years to regulate and coordinate
the development of commercial factoring companies and promote the healthy and
compliant growth of the factoring industry. For example, in March 2020, the
Wuxi Development and Reform Commission issued “The 2020 Local Economic and
Social Development Plan for Wuxi City”, which emphasized its support for the
development of high-tech industries.
As the organizer of the Forum, Guojin Commercial
Factoring is a state-owned joint venture established by Shengzhuo Commercial
Factoring Co. Ltd., a subsidiary of Sheng Ye Capital (“SY Capital”) and Wu Xi
Tonghui Investment Co. Ltd., a subsidiary of Wu Xi Communications Industry
Group. Both parties have actively responded to policies of the national and
Wuxi governments. SY Capital, in particular, has worked extensively to leverage
its industry-leading technology and digital finance capabilities. Applying big
data analysis to break down information barriers and connect assets with
capital through its platform, SY Capital has effectively supported the demand
for supply chain financing for small, medium and micro enterprises, and
reinforced the healthy development of the transportation industry in Wuxi’s
real economy. Guojin Commercial Factoring has been making steady progress in
deepening the integration of technology into its factoring business, which
plays an important role in using technology to enable high-quality development
of the industry. Guojin Commercial Factoring, which is widely known and well
recognized in Wuxi Economic Development Zone, has been an important player in
the commercial factoring industry in Jiangsu Province and Wuxi. The company has
been instrumental in promoting strategies that have been implemented by Jiangsu
Province and the Wuxi Municipal Government to drive industry innovation and
city development.
Since entering the
Wuxi market, SY Capital has supported the development of the real economy in
Jiangsu Province and Wuxi City. As a leading listed supply chain fintech
platform, SY Capital was invited to attend the Forum, where Mr Aaron Yuan,
Chief Strategy Officer of the Company, delivered a keynote speech titled,
“Analysis of the Capital Operations of Factoring Companies and Focus of
Overseas Investment Institutions,” in which he shared his insights and
experience.
In recognition of its outstanding business model and high-quality fintech services, SY Capital has been included in the MSCI China Index, the Hang Seng Composite Index, and the Shenzhen-Hong Kong Stock Connect. The Company’s institutional investors include Temasek Holdings, China Taiping and US private equity firm Olympus Capital. Furthermore, SY Capital is committed to reshaping the supply chain finance model through innovative application of information technology. With its proprietary cloud-based “Easy Factoring” platform, along with artificial intelligence technologies such as facial recognition, public opinion monitoring, invoice verification, electronic signatures, smart boarding, OCR and NLP, the Company offers digital, systematic and online solutions to supply chain financing. This enables the Company to leverage its diversified financing channels to make supply chains more efficient, and financing more inclusive.
SY Capital will continue to adhere to innovation-driven technology development, and promote structural optimization and integration of the factoring industry. It will also proactively help government departments with compliant development to support healthy growth for the industry and the real economy.
