On November 27, 2024, supported by the Tianjin Economic-Technological Development Area Administrative Commission, the 12th China Commercial Factoring Industry Summit and 11th Yujiapu Factoring Forum commenced in Tianjin, organized by the Commercial Factoring Professional Committee (CFPC) of the China Service Trade Association. As a leading supply chain technology platform, SY Holdings Group Limited ("SY Holdings" or the "Group"; Stock Code: 6069.HK) was invited to participate in this event.
As the most influential and largest annual gathering in the commercial factoring industry, this year's summit, themed "Adapting to Trends · Resilient Development," attracted nearly 500 representatives from commercial factoring enterprises and related institutions nationwide to witness and discuss the industry's future. A special "Honors Presentation" segment was held to better implement national policies, recognize benchmark enterprises, establish industry models, and uncover innovative forces.
By integrating technological innovation with industrial supply chains and leveraging ecosystem connectivity and data-driven approaches, SY precisely addresses SMEs' financing needs, earning the "9th China Commercial Factoring Industry Innovation Case" award. SY Commercial Factoring Co., Ltd. ("SY Factoring"), a wholly owned subsidiary and CFPC Vice Chair unit, was honoured as "2024 Outstanding Member Unit" and "2024 Industry Contribution Award" winner for its "transaction-focused over entity-focused" risk management philosophy and "efficient, fast, reliable, cost-effective" service model that facilitates accessible financing for SMEs.
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SY also contributed as an industry representative to the "China Commercial Factoring Industry Development Report (2023-2024)," collaborating with CFPC to advance the sector's healthy, stable, and sustainable growth while promoting standardization and high-quality development.
During the conference, SY's Digital RMB Project Lead Xia Shuangna delivered a keynote titled "Innovative Digital RMB Applications: Making Inclusive Finance More 'Digital'," stating: "Amid today's digital wave, SY actively responds to national digital RMB promotion policies by exploring its potential in inclusive finance to create new pathways for SME development. For instance, our 'digital RMB + factoring' service breaks traditional financing time constraints, enabling 24/7/365 inclusive financial services. Combined with digital RMB's traceability and SY's transaction-centric risk model, this effectively resolves SMEs' 'first-loan difficulty and high cost' challenges while enhancing service security and reliability."
Regarding digital RMB innovation, Xia highlighted SY Factoring's pioneering achievements since Tianjin's digital RMB pilot launch, including: "Tianjin's first digital RMB + supply chain finance transaction," "industry-first digital RMB + smart contracts + charitable donations," "sector-first digital RMB + smart contracts + construction worker wage payments," and "first digital RMB + payroll distribution." SY continues expanding digital RMB applications to channel inclusive finance into the real economy, supporting the integration of digital and physical economies.
Guided by its mission to "make supply chains more efficient and finance more inclusive," SY remains focused on inclusive and digital finance, aligning with the central financial work conference's "Five Key Articles" policy direction to improve SME financing accessibility. Through a decade of sustained investment in technology and talent, SY has facilitated over RMB 230 billion in inclusive financing for more than 17,000 SMEs, 30% of whom were first-time borrowers excluded from traditional financing channels.
Moving forward, SY will intensify technological innovation to deliver superior solutions, continuously address SME needs, and inject inclusive finance vitality into real economic growth.
