On January 20, 2025, SY Holdings Group Limited (referred to as "SY," Stock Code: 6069.HK) issued a positive profit alert for its 2024 annual results, projecting a year-on-year net profit growth of over 30% for the fiscal year ending December 31, 2024. This achievement once again highlights SY's strong growth momentum in the supply chain inclusive finance sector.
The significant increase in net profit is primarily attributed to:
- Expansion of Platform Business Scale: With continued investment in technological innovation and deeper integration into industrial digital ecosystems, SY has further refined its alignment with digital financial needs across supply chains, driving sustained growth in platform business volume. As of December 31, 2024, the cumulative supply chain assets processed on SY’s platform exceeded RMB 248 billion, marking a year-on-year increase of over 28%. The platform served more than 18,100 clients, up over 18% compared to the same period last year.
- Growth in Platform Technology Service Revenue: Under its platform-oriented development strategy, SY leverages digital technology to empower financial services and uses industrial data to drive inclusive finance, fully unlocking the value of data as a new production factor. This approach enables more precise and efficient platform-based financial matching services while effectively supporting local supply chain platforms in advancing inclusive finance initiatives. By December 31, 2024, technology service revenue accounted for approximately 40% of total revenue, further solidifying its role as a key driver of overall performance growth.
- New E-Commerce Business Segment Growth: SY has actively explored new industrial ecosystems to help more small and medium-sized enterprises (SMEs) access inclusive financial services. The company has provided innovative supply chain finance solutions to SME sellers and suppliers on major e-commerce platforms, significantly reducing payment settlement times and accelerating capital turnover. This supports "Made in China" products in going global and facilitates Chinese consumers' access to worldwide shopping, creating a new growth driver for SY’s business.
In response to rising supply chain financing demand, SY has steadily increased its R&D investments. By December 31, 2024, the company held 80 national invention patents and software copyrights, covering innovative applications in big data, cloud computing, artificial intelligence, and more. Adhering to a "transaction-focused, entity-light" risk management philosophy, SY has strengthened system integration and data connectivity with core enterprises. Empowered by technology and data, SY not only achieves precise customer acquisition but also employs intelligent tools to efficiently verify the authenticity and rationality of underlying transactions. This enables the company to provide "more, faster, better, and more cost-effective" supply chain finance solutions—including higher credit limits, quicker loan disbursement, superior user experience, and more inclusive funding—effectively addressing SMEs' challenges of "difficult and expensive financing." Over 96% of clients served by SY’s self-developed SYI Tong cloud platform are SMEs, with first-time borrowers accounting for more than 30%.
Additionally, SY actively aligns with regulatory policies, focusing on the "Five Key Areas of Finance," including digital finance and inclusive finance, to enhance its platform’s technological capabilities. This has facilitated smarter and more precise matching between SMEs and funding providers, driving a year-on-year increase of over 180% in the average daily balance of platform-facilitated inclusive financial matching. In terms of funding channels, SY’s platform partners expanded to 163 financial institutions, a notable increase of over 24% year-on-year, reflecting strong recognition and confidence in SY’s growth prospects.
As a leading supply chain technology platform, SY has maintained profitability for eleven consecutive years, demonstrating the sustainability of its platform strategy and business model. The group continues to play a vital role in integrating industry and finance while fostering ecosystem prosperity. Moving forward, SY will further increase R&D investments and strengthen supply chain data connectivity to enhance its technological service capabilities, supporting the high-quality development of the real economy and delivering more efficient and flexible inclusive financial solutions to SME clients.
