Sheng Ye Capital Reaches Strategic Cooperation Agreement with China Construction Bank Shenzhen Branch

Nov 04, 2019 21:35 JST

Source: Sheng Ye Capital Limited

Driving Inclusive Finance Development in Line with National Policy

HONG KONG, Nov 04, 2019 - (ACN Newswire) - Sheng Ye Capital Limited ("Sheng Ye Capital" or the "Group", stock code: 6069.HK), a professional institution offering accounts receivable financing and other solutions mainly in energy, construction and medical sectors in the PRC, has signed a Strategic Cooperation Agreement with the China Construction Bank Corporation Shenzhen Branch (the "CCB Shenzhen Branch") lately. In line with national strategic plan to promote inclusive finance, the two parties are committed to solidifying existing collaboration and joining hands to groom small and medium enterprises ("SME"s).

Vital to economic and social development, SMEs are part and parcel of national development and reform. The PRC government has highlighted SMEs' worth in its advancing of a flurry of policies to nurture inclusive finance so as to alleviate private companies' financing difficulties. The inclusive finance policy of targeted cutting of required reserved ratios has also optimized. Meanwhile, state-owned commercial banks are actively building their inclusive finance muscles to boost available credits to private enterprises and their overall financial service standards.

Observing national policies, Sheng Ye Capital and CCB Shenzhen Branch have a shared vision of providing quality financial services to SMEs. Since its inception, Sheng Ye Capital has been proactively helping SMEs in the supply chains of different industries. As of 30 September 2019, Sheng Ye Capital had served over 3,000 customers, of which 99% were SMEs. Meanwhile, CCB Shenzhen Branch has always been regarded as an industry pioneer in inclusive finance services.

Backed by information technology, Sheng Ye Capital and CCB Shenzhen Branch will join hands to offer online inclusive finance services, leveraging their respective advantages such as industry experience, expertise in data analysis and risk assessment, as well as capital resources. Sheng Ye Capital, with solid risk control capability, will refer quality accounts receivables assets and high-quality customers to the Bank. On Sheng Ye's online platform, the Bank will be able to run simulation and screen thousands of suppliers to state-owned enterprises, and effectively finance the chosen.

In June, Sheng Ye Capital and CCB Shenzhen Branch have already initiated cooperation in lending, with total credit limit reaching RMB920 million. The latest strategic collaboration reaffirms Sheng Ye Capital's dedication to serving industries, and its technological capability and professional risk control readiness. Moving forward, Sheng Ye Capital will continue to strengthen its core competitiveness in information technology, data analysis and risk control. It will further explore more diverse financial cooperation models that may offer more convenient and efficient financial services at lower cost to more micro, small and medium enterprises, thereby support the real economy.

About Sheng Ye Capital Limited (Stock code: 6069.HK)
Sheng Ye Capital Limited is a professional enterprise financial services institution offering accounts receivable financing and other related solutions to customers who mainly engaged in the energy, construction and medical sectors in the PRC. It has a strong capital base with its principal operating subsidiary in the PRC - SY Factoring Limited having a registered capital of US$200 million. Sheng Ye Capital was included as one of the constituents of MSCI China All Shares Small Cap Index in 2018 and transferred its listing to the Main Board of HKEX in October 2019. For more information about Sheng Ye Capital, please visit: http://www.shengyecapital.com/.

Source: Sheng Ye Capital Limited
Sectors: Daily Finance, Daily News