SY Holdings Group Limited ("SY", stock code: 6069.HK) recently held a strategic cooperation signing ceremony with Singbada (Guangzhou) Technology Co., Ltd. at its Shenzhen headquarters. This collaboration marks a significant step in SY's accelerated implementation of its "Global Expansion Strategy," deepening integration with cross-border e-commerce supply chains and ecosystems while extending inclusive supply chain financial services from domestic to international markets. The partnership will support Chinese enterprises in expanding their global industrial supply chains and factory networks. Xiji Technology served as the exclusive financial advisor for this cooperation, specializing in identifying high-quality assets in global apparel manufacturing through investment strategies, fund management, and risk control to achieve "asset operation and capital management" synergy.
The signing ceremony was attended by key executives including Li Yong (known as "Da Feng"), CEO of Singbada; Li Xuan (known as "Hu Po"), Head of Investment and Financing at Singbada; Duan Ruochang, CEO of Xiji Technology; and Aaron, Chief Strategy Officer of SY Holdings.
As a Singapore-capital-backed, Hong Kong-listed supply chain technology platform with major strategic shareholders including Temasek Holdings and BlackRock, SY has been recognized among CNBC's Top 200 Global Fintech Companies (2023) and Forbes China's Top 50 Fintech Influencers (2024). With a mission to "make supply chains more efficient and finance more inclusive," SY integrates technology with industrial supply chains to provide accessible financial services for SMEs, having invested over RMB 6 billion to support more than 18,000 SMEs with RMB 240 billion in financing. As a Singaporean enterprise, SY actively participates in the China-Singapore (Chongqing) Connectivity Initiative and leverages its cross-border expertise to help Chinese manufacturers and brands expand globally.
As a representative enterprise of "new quality productive forces" in the garment manufacturing industry, Singbada has emerged as a global leader in intelligent technology for flexible apparel supply chains and integrated supply chain delivery solutions. The company has achieved rapid growth by serving ultra-fast-fashion industry leaders including SHEIN, Temu, Cider, and PatPat. Currently operating 30 self-owned factories while managing over 400 partner "satellite factories" across China, Singbada has set an ambitious decade-long goal to establish and operate 1,000 intelligent flexible garment manufacturing facilities and advanced dyeing/printing plants worldwide through various models including consignment operations, joint ventures, and wholly-owned facilities. This expansion will be powered by Singbada's proprietary Flexible Intelligent System and advanced management methodologies. The company's long-term vision is to build next-generation infrastructure that will transform the global fashion apparel industry.
The continuous advancement of IT technology has accelerated the global consumer market's shift toward "fast fashion," profoundly transforming apparel supply chains through rapid "flexibilization" and "distributed globalization." Moving forward, SY and Singbada will pursue strategic collaboration across key overseas markets including Turkey, Southeast Asia, Morocco, Poland, Mexico, and Brazil. Under this partnership, SY will provide substantial financial support while Singbada contributes its advanced "Flexible Intelligent System and Management Framework" to jointly establish smart flexible factories with local partners, addressing evolving flexible supply chain demands.
This collaborative model - designated as New Global Infrastructure (NGI) - represents an innovative approach to modernizing production methodologies across global apparel supply chains, ultimately creating next-generation infrastructure for the industry. The NGI model effectively combines SY's financial capabilities with Singbada's technological expertise, achieving optimal alignment between capital and high-quality manufacturing assets to create mutual benefits.
Under the agreement, SY will become Singbada's preferred strategic partner in supply chain finance through this comprehensive collaboration. SY will develop tailored inclusive financial solutions for Singbada, including order financing, prepayment financing, accounts receivable financing and other services, designed to optimize working capital liquidity for both Singbada and its supply chain partners. These solutions will ensure stable and efficient funding throughout critical operational phases - from raw material procurement to production. The partnership will leverage integrated connectivity between SY's supply chain technology platform and Singbada's flexible apparel supply chain system. By deploying big data analytics and AI technologies, the collaboration will enable real-time supply chain information sharing and precision analysis, while enhancing risk management and decision-making efficiency for SY's cross-border financial services. This strategic alliance will accelerate Singbada's global expansion through expanded supplier networks, optimized procurement channels, and reduced purchasing costs. Furthermore, it will improve end-to-end supply chain coordination and responsiveness, achieving full-process optimization from order generation to product delivery.
China has recently introduced a series of policy measures including the "Guidelines on Promoting Stable Scale and Optimized Structure in Foreign Trade," "Measures to Accelerate the Integration of Domestic and Foreign Trade," and "Policies to Promote Steady Growth of Foreign Trade," continuously improving trade facilitation and support mechanisms. According to the 2023 Research Report on Chinese Manufacturers' Global Expansion, overseas expansion by Chinese manufacturers is gaining increasing momentum, with 55% of enterprises planning to actively explore international markets within the next three years.
Against this backdrop, SY will leverage Singbada's robust industrial ecosystem and comprehensive industry data, applying its "transaction-focused, entity-light" risk management approach to support Singbada's accelerated expansion into overseas markets such as Turkey, Southeast Asia, and Morocco. This collaboration aims to facilitate the seamless integration of China's apparel manufacturing clusters into global markets through cross-border e-commerce platforms. The partnership is expected to catalyze nearly RMB 10 billion in cross-border supply chain inclusive financing, while simultaneously enhancing Singbada's global flexible supply chain capabilities. Together, SY and Singbada will collaborate with leading cross-border e-commerce players to explore and capitalize on new market opportunities.
As SHEIN's premier strategic supplier, Singbada's partnership with SY marks a significant advancement in SY's capabilities to serve SHEIN's industrial supply chain ecosystem. This collaboration equips Singbada with SY's robust financial support and resource integration capabilities, enabling it to effectively meet SHEIN's demanding "small-batch, rapid-response" order requirements and stringent quality standards. SY's financial network of over 160 funding partners ensures comprehensive capital coverage across Singbada's supply chain operations, alleviating financial pressures while optimizing capital efficiency. Through SY's industry-leading supply chain technology platform, the partnership enhances supply chain coordination by facilitating closer collaboration between Singbada and its partners, optimizing production planning and inventory management, reducing product lead times, and improving overall supply chain responsiveness. Furthermore, SY's global perspective and technological resources will empower Singbada to adopt advanced production technologies and management methodologies, strengthen R&D and quality control processes, and achieve breakthroughs in garment manufacturing techniques and fabric innovation. This multidimensional support enables Singbada to deliver superior products and services, creating mutually beneficial outcomes for all supply chain partners.
Digital trade has become an integral component of the digital economy, emerging as both a new trend in international trade and a fresh growth driver for global commerce. Looking ahead, SY and Singbada will deepen their collaboration centered on cross-border e-commerce platforms, continuing to provide innovative supply chain technologies and service support that facilitate the global expansion of high-quality Chinese products and brands into international markets. This partnership will leverage cutting-edge digital solutions to enhance trade efficiency, optimize supply chain operations, and create new opportunities for Chinese manufacturers to compete effectively in the global marketplace.
