Sheng Ye Capital Invited to Inaugural Jiangsu Commercial Factoring Association Conference to Share Experience and Promote Industry Development


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.