EQS-News / 17/09/2020 / 18:03 UTC+8
[Press Release]
Sheng Ye Capital Launches Strategic Partnership with Xiaomi Factoring,
Accelerating Supply Chain Digitalization and Inclusive Finance for the
Medical Sector
Hong Kong, September 17, 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 it
signed a strategic partnership agreement for the refactoring of accounts
receivables in the medical sector with Xiaomi Commercial Factoring (Tianjin)
Co., Ltd. ("Xiaomi Factoring"), a wholly-owned subsidiary of Xiaomi Finance.
The partnership will leverage supply chain fintech capabilities to empower
small, medium and micro enterprises ("SMEs") in the medical sector and
promote greater stability of the pharmaceutical supply chain during the
COVID-19 pandemic.
The medical sector has been one of the focused industries of SY Capital.
Over the past 6 years, the Company accumulated a large volume of real-time
transaction data and developed deep industry knowledge of the pharmaceutical
distribution sector, allowing SY Capital to use its robust digital risk
control systems to provide effective and tailored financing solutions to
medical suppliers. In addition, as a leading independent supply chain
fintech platform, SY Capital recently secured US$50 million credit funding
from Dignari Capital Partners, followed by a top-up placement that of US$50
million from internationally renowned investors. The partnership with Xiaomi
Factoring will further enhance SY Capital's ability to provide strong supply
chain financing support to SME medical suppliers and promote steady economic
growth in the post-pandemic world.
Xiaomi Factoring is a wholly-owned subsidiary of Xiaomi Finance which is the
fintech arm of the Fortune 500 technology giant Xiaomi Group (HKEx: 1810).
Leveraging Xiaomi's ecosystem, Xiaomi Finance provides a suite of financing
solutions, including supply chain finance, fintech, consumer credit and
third-party payment services and continues to grow its supply chain
financing business.
The strategic refactoring cooperation with Xiaomi Factoring is a strong
testament from a leading fintech player to SY Capital's fintech
capabilities, big data-driven risk management technologies and quality
accounts receivable assets. Since inception, SY Capital has focused on the
infrastructure, medical and energy sectors, three industries that are more
resilient to economic cycles. The Company has also established strategic
partnerships with large blue-chip enterprises to achieve in-depth
cross-industry expertise. By leveraging transaction data from multiple
channels to cross-validate transaction authenticity, SY Capital is able to
convert transaction data sets into actionable credit scores and provide high
quality suppliers across the supply chain with effective and diversified
supply chain financing solutions. SY Capital leveraged its technological
capabilities and achieved impressive results. As of June 30 2020, the
Company successfully transferred more than RMB90 billion accounts
receivables while maintaining a non-performing loan ratio of zero and a loan
extension rate of less than 1% during the first half of 2020.
This partnership will allow the two companies to leverage their respective
core competencies in supply chain financing and fintech solutions to jointly
develop a digital supply chain financing platform for the medical sector, in
an effort to support the healthy development of the medical supply chain,
while providing efficient and inclusive financial services to more SMEs.
- END -
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.
Media Contact
Sheng Ye Capital Limited
Kaylee Zhang
Tel: 0755-6188 0088-842
Email: kaylee.zhang@shengyecapital.com
Christensen China Limited
Shirley Chan
Tel: +852 2232 3933
Email: schan@christensenir.com
17/09/2020 Dissemination of a Marketing Press Release, transmitted by EQS
Group.
The issuer is solely responsible for the content of this announcement.
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(END) Dow Jones Newswires
September 17, 2020 06:03 ET (10:03 GMT)
© 2020 Dow Jones News
