Sheng Ye Capital Launches Strategic Partnership with Sichuan XinWang Bank to Develop Targeted Digital Inclusive Financial Services
Hong Kong, November 3, 2020 - Sheng Ye Capital Limited ("SY Capital" or the "Company", HKEx: 6069), China's first commercial factoring company listed on the main board of the Hong Kong Stock Exchange, announced that the Company signed a RMB1 billion supply chain fintech platform strategic cooperation agreement with Sichuang Xinwang Bank ("XWBank") to provide more efficient and convenient financial services to small, medium and micro enterprises ("SMEs") in the infrastructure and medical sectors.
Leveraging its proprietary supply chain fintech platform and efficient customer acquisition channels and data-driven fintech capabilities, SY Capital will recommend high-quality SMEs that have been evaluated by its data-driven risk control systems to XWBank. The two sides will better support the supply chains of SMEs in the infrastructure and medical sectors by providing targeted digital inclusive financial services. The partnership will enable both sides to actively respond to the government's policy that encourages banks to cooperate with fintech companies to better assist SMEs during the pandemic, which should help to contribute to the steady development of the real economy.
In addition, the cooperation with XWBank enables SY Capital to further expand its funding collaboration channels, which will in turn promote the Company's future development. Prior to the cooperation, SY Capital has entered into loan facility cooperation agreements with both China Construction Bank (Shenzhen Branch) and Ningbo Commercial Bank for a total amount of RMB1.5 billion to promote the development of inclusive finance. Furthermore, SY Capital has recently announced a US$50 million funding collaboration with internationally renowned credit investor, Dignari Capital. The number of SY Capital's domestic and overseas funding collaboration partners expands rapidly to over 40 institutions at the moment, offering strong support for the sustainable and steady development of its SME customers.
XWBank is one of the three earliest established internet banks in China, and its founding shareholders include New Hope Group, Xiaomi Group and Chengdu Hongqi Chain. Its mission is to be "a complementary enabler to promote financial inclusion via mobile connectivity", and the business is characterized by "digitalization and openness". XWBank is dedicated to becoming a technology-driven digital bank that promotes financial accessibility, and it leverages its strong fintech capabilities, prudent risk management practices powered by big data, and an efficient operating model as an open online platform to serve the SME segment, provide support to the real economy and contribute to the advancement of inclusive finance.
SY Capital is a leading supply chain fintech platform. Its strategic institutional shareholders include Taiping Trustee, which is a subsidiary of the global Fortune 500 company China Taiping Insurance Group, Pavilion Capital, which is a private equity firm that is a wholly owned subsidiary of Temasek Holdings, and Olympus Capital, which is an independent private investment firm that has been investing in companies across Asia for over 20 years. Powered by strong fintech capabilities and an in-depth understanding of the core industries, SY Capital is a data-driven supply chain financial services provider that offers a range of flexible and tailor-made accounts receivable financing products and corporate services to meet the vast financing needs of underserved SMEs in the region.
The partnership will onboard a new strategic partner and open up an additional funding avenue for SY Capital's proprietary loan facilitation platform, which will allow the Company to develop better tailor-made financing solutions to SMEs. Going forward, SY Capital will continue to explore cooperation with banks through its loan facilitation platform in a bid to become the most reliable supply chain fintech platform across Asia-Pacific.
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About Sheng Ye Capital Limited (HKEx: 6069)
Sheng Ye Capital Limited ("Sheng Ye Capital", HKEx: 6069) is a leading data-driven supply chain financial services provider in China and is the first commercial factoring company listed on the main board of the Hong Kong Stock Exchange. Powered by fintech capabilities and in-depth understanding of the core industries, Sheng Ye Capital offers a range of flexible financing products and corporate services to meet the vast financing needs of underserved SMEs in the region. Sheng Ye Capital aims to become the most reliable data-driven supply chain fintech platform in Asia.
Sheng Ye Capital has been included in the MSCI small cap China Index, Hang Seng Composite Index and Shenzhen-Hong Kong Stock Connect. The current market cap of Sheng Ye Capital is around HK$5 billion. Its major institutional investors include Olympus, China Taiping, and Pavilion under Temasek.
Sheng Ye Capital Limited
Tel: 0755-6188 0088-842
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Tel: +852 2232 3933
03/11/2020 Dissemination of a Marketing Press Release, transmitted by EQS Group.