On November 27, 2023, the "11th (2023) China Commercial Factoring Industry Summit and 10th Yujiapu Factoring Forum" opened in Tianjin, hosted by the Commercial Factoring Professional Committee of China Service Trade Association. SY Holdings Group Limited ("SY", stock code: 6069.HK) was invited to attend the conference.
With years of industry experience and technological achievements, SY was awarded the "8th China Commercial Factoring Industry Innovation Case" for its technological innovation capabilities in industrial finance and outstanding innovation cases. SY Commercial Factoring Co., Ltd., a fully -owned subsidiary of SY, was recognized as the "2023 Outstanding Member Unit" for its professional capabilities and outstanding contributions accumulated over many years in the industry as a vice chair unit of the Commercial Factoring Committee.
At the same time, as one of fourteen benchmark companies, SY participated in formulating group standards for the commercial factoring industry and the release of the "China Commercial Factoring Industry Development Report (2022-2023)", working with the Commercial Factoring Committee to provide suggestions and jointly promote new industry development.
▲颁奖现场
At the conference, Zhang Xuhong, General Manager of SY's Treasury Department, shared insights on the theme "Linking Industrial Ecological Data to Promote the Development of Inclusive Finance", proposing the application of industrial data in inclusive finance to better provide platform-based service support for SMEs in every supply chain.
▲张旭红发表主题演讲
"Let me share an actual case: A Qingdao-based infrastructure company had loan repayment delays due to the pandemic. When applying for a bank loan, it was rejected due to incomplete qualifications and financial statements, and failure to meet operating scale requirements. Then they approached SY. Through system integration with core enterprises, we found this company was a long-term partner of our core enterprise, and we could access transaction data including weighbridge data for steel and cement deliveries, delivery documents and arrival videos. We subsequently approved the loan. With sufficient funds, the client's operating profits continued to increase and it finally repaid the loan on schedule."
Zhang Xuhong mentioned in her speech that SY's core risk control logic is "transaction-focused rather than entity-focused", implementing data-driven risk management. To verify transaction authenticity, it doesn't rely on single data sources but uses system cross-validation of multi-source channel data to ensure consistency. To determine transaction reasonableness, it verifies and evaluates multiple factors including transaction price, quantity, payment terms based on in-depth industry understanding and historical data tracking. Regarding data sources, she said: "In infrastructure, SY obtains real transaction data in real time through smart construction site solutions to empower digital finance business, achieving comprehensive, multi-dimensional automated monitoring and alerts."
The conference, themed "The Next Decade - Counter-trend Growth", systematically summarized the commercial factoring industry's development status, characteristics, issues and trends under the new development paradigm, thoroughly discussed recommendations to improve the current industry environment, and promoted high-quality industry development. It is reported that the "Commercial Factoring Industry Innovation Case" award organized by the Commercial Factoring Committee aims to recognize enterprises with innovative achievements in business models, product design and theoretical research, as well as those making outstanding contributions to industry development, to encourage innovation, promote exchanges and cooperation, guide standardized and healthy development, and better serve SMEs and support the real economy.
As a leading supply chain technology platform, SY aims to promote digital transformation in national strategic pillar industries like infrastructure, healthcare and energy through technology, thereby linking industrial digital ecosystems to help SMEs establish their own digital credit and transaction profiles in digital ecosystems, reducing reliance on core enterprises' confirmation and guarantees.
Looking ahead, SY will continue to increase technological innovation efforts, use digital technology to empower efficiently, provide quality products and services to the industry, promote supply chain technology and digital finance development, and create value for SMEs, core enterprises and financial institutions.
