Hong Kong, February 14, 2022 – SY Holdings Group Limited (“SY Holdings” or the “Company”, stock code: 6069.HK) issued a positive profit alert for its 2021 annual results. The Company is expected to record a year-on-year increase of approximately 30% in profit for the year ended 31 December 2021.
SY Holdings continued to record strong growth, mainly due to: 1) the revaluation gain arising from the acquisition of 40% equity interest in Wuxi Guojin Commercial Factoring Limited (無錫國金商業保理有限公司); and 2) the increase in income from providing platform services. SY Holdings' loan facilitation business expanded rapidly in line with its technology-enabled, platform-driven strategy and meaningful diversification of revenue towards platform origination.
In response to the increasing demand for supply chain financing, SY Holdings has been providing efficient and flexible inclusive financial services to small, medium and micro enterprises (“SMEs”) through intelligent solutions, efficiently alleviating the problem of accessing limited funding resources at high costs faced by SMEs. By unlocking the synergies between industrial technology and digital finance, SY Holdings was able to enhance the collaboration with core enterprises and SME clients, in turn driving its revenue growth. Cumulative platform users of Easy Factoring Cloud, SY Holdings’ proprietary platform, increased by more than 39% compared to that of last year and the total cumulative platform assets under management increased by approximately 33% compared to that of last year.
SY Holdings continues to be proactively involved in supporting financial inclusion, vigorously expanding the platform’s loan facilitation business and efficiently leveraging its fintech capabilities to intelligently match SMEs to funding providers. As a result, SY Holdings’ daily average loan facilitation balance nearly doubled as compared with the same period last year. Correspondingly, the number of funding partners increased by approximately 87% over the previous year, reflecting the recognition of the Group’s development prospects by its funding partners.
