DJ EQS-News: Controlling Shareholder, Executive Director and Management Announce Intention to Increase Shareholding in Sheng Ye Capital With Confidence in the Development Prospects and Growth Potential of the Company
EQS-News / 18/12/2020 / 10:46 UTC+8
[Press Release]
Controlling Shareholder, Executive Director and Management Announce
Intention to Increase Shareholding in Sheng Ye Capital
With Confidence in the Development Prospects and Growth Potential of the
Company
Hong Kong, December 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, today announced voluntarily
that the Chairman of the Board of Directors (controlling shareholder),
Executive Director and core management (collectively the "Management")
intend to acquire additional shares of the Company. Management plans to
acquire shares of the Company on the public market with an aggregate amount
not exceeding HK$80 million within six months from the date of this
announcement (the "Proposed Acquisition Period") and has no plans to dispose
their shares within six months after the expiry of the Proposed Acquisition
Period. The intention to increase shareholding by the Company's controlling
shareholder, Executive Director and management demonstrate their confidence
in the growth potential and development prospects of SY Capital.
Being a leading supply chain fintech platform, SY Capital has developed a
"1+N+Fintech" business model. The Company focuses on the infrastructure,
medical and energy sectors, which are generally more recession-resistant and
has established strategic partnerships with large blue-chip enterprises.
Underpinned by a robust technology platform, SY Capital can convert
transaction data sets into actionable credit scores and provide high quality
suppliers in the supply chain with effective and diversified supply chain
financing solutions. The business model and philosophy of SY Capital is
attracting wider attention in the market. Earlier this year, SY Capital was
rated "Outperform" by Macquarie and given a "Buy" rating by DBS.
In addition to SY Capital's business philosophy, investors are also eyeing
the current positive development trends of the factoring industry and the
Company's forward-looking strategic plans. Several policies have affirmed
the importance of the factoring industry and support from the Chinese
government. One example is that China Banking and Insurance Regulatory
Commission released Notice 205 in 2019, creating opportunities for
third-party factoring companies to expand market share. In addition, the
inclusion of a Factoring Contract Chapter in the Civil Code, which will be
enforced in January 2021, will also strengthen the foundation for further
development of the factoring industry.
Against the backdrop of the Covid-19 pandemic, the Chinese government has
encouraged supply chain financial providers to support small, medium and
micro enterprises, demonstrating the importance placed on the factoring
industry by the government. With the support of government policies and
strong market demand, SY Capital's fintech capabilities and business value
have increasingly attracted the attention of international institutions,
prompting more in-depth analysis, and leading to growing optimism about the
development prospects and growth potential of the factoring market.
Looking ahead, in light of strong market demand, SY Capital will continue to
promote the development of an asset-light model and upgrade its supply chain
fintech platform. Driven by its robust technology platform, SY Capital will
enable enterprises along the supply chain to also transform and upgrade
their business models in support of developing a more efficient and
high-quality supply chain fintech system. The Company will also continue to
promote its mission - to make supply chain finance more efficient and
inclusive. It is committed to becoming the most reliable supply chain
fintech platform across Asia-Pacific and endeavors to reward investors and
customers with outstanding performance for their long-term trust and
support.
- 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
18/12/2020 Dissemination of a Marketing Press Release, transmitted by EQS
Group.
The issuer is solely responsible for the content of this announcement.
Media archive at www.todayir.com
(END) Dow Jones Newswires
December 17, 2020 21:46 ET (02:46 GMT)
© 2020 Dow Jones News
