On September 16, 2021, the “7th Annual Structured Finance and ABS China 2021” and the “7th Asset-backed Securitization Jiefu Awards” awards ceremony dinner was successfully hosted in Shanghai by Caishi along with the Commercial Factoring Expertise Committee of China Association of Trade in Services and other renowned institutions. It was the fourth consecutive year that Sheng Ye Capital Limited (“SY Capital” or the “Company”, stock code: 6069.HK) was invited to the event, demonstrating its solid achievements in the ABS issuance market. This year, the Company won the “Innovative ABS Product Award” for the end-to-end asset services it provided to Wuxi Guojin Factoring Limited (“Guojin Factoring”)’s ABS issuance, a program backed by accounts receivable factoring assets and managed by Shanghai Guotai Junan Securities Asset Management Co., Ltd. In addition, Guojin Factoring, a joint venture established by SY Capital and Wuxi Communications Industry Group Co., Ltd. also won the “Outstanding Account Receivables-backed Product Award” for the year.
This year, Mr. Wang Cangran, General Manager of the Asset Management Department at SY Capital, attended the award ceremony as a representative of the Company and delivered a speech and received media interviews at the event. The Jiefu Awards is established by China’s leading financial media Caishi in 2014, to recognize institutions and individuals for the outstanding achievements they have made in the financial industry. As a widely coveted honor, Jiefu Awards have attracted more than 300 speakers and 3,000 attendees with over 1,500 submissions since its inception. With the theme of “Refocusing on Assets and Risk Control”, this year’s forum brought together many esteemed ABS business representatives to discuss the current developments and new future development opportunities in the industry. SY Capital has been awarded a number of flagship awards at the event for four consecutive years, including “Excellent ABS Technology Service Provider” and the “Accounts Receivable-backed Securitization Product Award”. This year, the Company has been awarded yet another landmark award, reflecting the Company’s outstanding competitiveness, high levels of professionalism and market recognition in the ABS industry.
SY Capital’s subsidiary Sheng Ye Information Technology Service (Shenzhen) Co., Limited (“SYIT”) provided end-to-end asset services and IT support for SY Capital’s winning project this year. In his speech, Mr. Wang Cangran introduced the highlights of the ABS services and the new service model of providing end-to-end ABS services. First, it’s an innovative ABS product truly dedicated to support the development of small, medium, and micro enterprises (“SMEs”). Unlike traditional ABS offerings, which focus on the underlying assets of a single core enterprise, but targets multiple upstream and downstream suppliers of core enterprises in the construction supply chain, covering both standard and reverse factoring structures. Second, the ABS offering puts the authenticity of the underlying assets at the center of the transaction. It expanded the notification and confirmation requirements for the underlying accounts receivable, emphasizing the integrity of data and authenticity of transactions, and included both disclosed and undisclosed factoring assets into the asset pool. Third, the ABS offering was rated senior AAA with a coupon rate of only 3.6%, the lowest this year among all factoring ABS programs of the same term in Jiangsu Province. This demonstrates the strong support of this ABS program among institutional investors.
Mr. Wang Cangran delivers a speech at the event
By leveraging its years of industry experience and technology capabilities, SYIT provided innovative and differentiated asset management services to Guojin Factoring’s ABS offering. Unlike traditional ABS services which is limited to asset collection, SYIT’s ABS end-to-end solution covers the full progress, from front-end of project preparation, collaboration with intermediaries and regulatory filing, to the middle-end asset selection and recommendation, drafting risk control standards and online operation, to later stage of investor marketing and recycled asset purchase. The successful offering showcases SYIT’s capability to integrate resources across its platform and technology leadership. During the ABS offering, SYIT leveraged its proprietary cloud-based IT system Easy Factoring to provide 100% online IT support, improving efficiency and cost-saving significantly. Easy Factoring integrates big data analytics and artificial intelligence (“AI”), among other leading technologies. As of 30 June 2021, SY Capital participated in and provided professional support to over RMB40 billion ABS shelf registration, and facilitated more than RMB16 billion ABS issuance cumulatively.
In addition, winning the award demonstrates the industry-wide recognition for SY Capital’s technology service capabilities. Looking forward, SY Capital will continue to consolidate its leadership in the supply chain fintech industry, improve its platform and technology strength, tailor efficient, comprehensive supply chain financing solutions to the needs of SME businesses, and provide multi-dimensional support to the real economy.
