28 July 2023 – SY Holdings Group Limited ("SY" or the "Group"; Stock Code: 6069.HK) announced that its fully owned subsidiary, SY Commercial Factoring Co., Ltd. ("SY Factoring"), has successfully completed system integration with China Railway Capital Commercial Factoring Co., Ltd. ("CRCC Factoring"), a subsidiary of China Railway Capital Limited ("CRCC"). The collaboration has facilitated the first fully digital joint factoring transaction, providing approximately RMB 3.18 million in financing for a comprehensive transportation hub construction project undertaken by an internal unit of China Railway Group Limited ("China Railway"; Stock Code: 601390.SH/0390.HK).
The joint factoring system leverages SY's digital technology and CRCC Factoring's industry expertise, enabling seamless connectivity between funding sources and assets. Key functional modules—including client information management, credit approval, risk control, financial management, and project tracking—have been customized to support streamlined operations. This integration allows both parties to offer more flexible and accessible financing solutions to China Railway's internal units and upstream suppliers.
Powered by big data, AI, and cloud computing, the system digitizes the entire factoring lifecycle—from pre-loan risk assessment and asset verification to post-loan monitoring. This end-to-end automation enhances operational efficiency, standardizes workflows, and strengthens risk management, laying a solid foundation for future joint factoring collaborations.
CRCC Factoring stated: "By utilizing SY's capabilities in invoice verification, e-signatures, and intelligent registration, we've simplified cross-party communication while ensuring data security. The system's fully digital approach marks a milestone in standardizing and institutionalizing joint factoring operations, accelerating our supply chain finance digitalization."
SY commented: "This partnership establishes a synergistic mechanism for asset and capital matching, allowing us to better serve China Railway's supply chain ecosystem and address SMEs' challenges in financing accessibility, cost, and speed."
SY's proprietary "SYT Cloud Platform" has connected over 100 funding partners, served more than 13,000 SMEs, and processed cumulative supply chain assets exceeding RMB 170 billion. CRCC Factoring, as China Railway's exclusive supply chain finance platform, has served 34 tier-2 and 239 tier-3 subsidiaries of China Railway, with total business volume surpassing RMB 26 billion.
Moving ahead, SY will deepen its partnership with CRCC Factoring, harnessing industrial data to innovate supply chain finance products. This collaboration is set to unlock new opportunities in integrating industrial and financial services for China Railway.
