On November 7, the 2024 6th International Factoring and Supply Chain Finance Conference & 9th Commercial Factoring Cooperation Forum was held in Shenzhen. SY Commercial Factoring Co., Ltd. ("SY Factoring"), a fully owned subsidiary of SY Holdings Group Limited (stock code: 6069.HK), was invited to participate and recognized by industry associations for its outstanding contributions, receiving the "2024 Commercial Factoring Industry Contribution Award."
Guided by the Shenzhen Municipal Party Committee Financial Office and the Qianhai Financial Development Bureau, and hosted by Guangdong, Guangzhou, and Shenzhen Commercial Factoring Associations, the conference focused on "Igniting New Financial Momentum to Boost New Quality Productive Forces." Discussions centred on factoring services in key inclusive finance sectors, strengthening supply chain resilience, and bridging the "last mile" of financial services for the real economy.
The annual awards aim to recognize industry leaders, benchmark enterprises, and exemplary cases in factoring and supply chain finance, promoting high-quality sustainable development. This accolade not only acknowledges SY Factoring's professional and innovative capabilities but also highlights its achievements in digital finance.
Since its establishment in 2013 in Tianjin Dongjiang Free Trade Port Zone, SY Factoring has adhered to a "transaction-focused over entity-focused" risk management approach, dedicating itself to serving SMEs and improving their access to inclusive finance. By June 2024, SY Factoring had disbursed over RMB 72 billion in factoring financing, maintaining a non-performing loan ratio below 0.3%, serving more than 2,600 SMEs, and contributing over RMB 400 million in taxes.
In recent years, SY Factoring has actively integrated finance with digital technology to enhance service quality for the real economy, continuously expanding digital finance applications to advance inclusive digital finance. It has pioneered multiple digital RMB innovations, including Tianjin's first "digital RMB + supply chain finance" transaction, the industry's first "digital RMB + smart contracts + charitable donations," first "digital RMB + smart contracts + construction worker salary payments," and first "digital RMB + employee payroll distribution." SY Factoring continues to explore more digital RMB applications to provide customers with more convenient, efficient, and secure inclusive financial services.
While advancing inclusive finance, SY Factoring actively complies with national regulations. It is one of the few commercial factoring companies connected to both the PBOC's second-generation credit reporting system and the movable property financing registration system. SY Factoring has earned the highest "Grade A" rating for three consecutive years in PBOC's credit compliance and information security assessments and for two years in Tianjin's local financial regulatory evaluations. It was also honoured as an "Outstanding Institution for Credit System Data Quality" by the PBOC Credit Reference Center.
Looking ahead, SY Factoring will continue strengthening support for SME development through technological innovation, ensuring inclusive finance precisely serves the real economy.
