Recently, the total invoice amount of Shougang Jingpiao (a credit certificate) exceeded RMB 5 billion. A total of 27 core enterprises and more than 1,800 users have registered on the platform, setting a record high.

Since the official launch of Shougang Jingpiao on November 30th, 2022, the Shougang Supply Chain Financial Service Platform has adhered to the tenet of serving the main business of the Group, continuously optimized the product structure, expanded the financing channels, achieved a direct connection with China CITIC Bank and completed online direct financing loans, laying a solid foundation for the “bank supermarket”, effectively improving the efficiency of fund operation and reducing procurement costs. Shougang Jingpiao has gradually become a powerful supplementary tool for the settlement and payment of core enterprises within the Group.

In the first half of 2023, Shougang Jingpiao was connected to the CITIC Bank system and successfully launched. Shanxi Chengcheng Renewable Resources Co., Ltd., a supplier of  Shougang Changzhi Iron & Steel Co., Ltd., applied for online financing from China CITIC Bank with Shougang Jingpiao and successfully obtained a bank loan of RMB 11.3 million. Based on the real trade background, the core enterprise issues Shougang Jingpiao through the Shougang Supply Chain Financial Service Platform, and the supplier submits the financing application online to the fund provider of the platform, China CITIC Bank. Relying on the supply chain credit of core enterprises, China CITIC Bank reviews the financing materials and handles financing for certificate holders.

In order to promote Shougang Jingpiao, the Shouhui Production and Financing Jingpiao Team is collaborating deeply with the centralized procurement platform to organize on-site or online communication meetings for suppliers of different categories, such as scrap steel, alloy, coal and spare parts, in order to introduce certificate products for multi-level circulation in detail, answer customer questions, promote Shougang Jingpiao products, publicize the features of Jingpiao such as “guaranteed payment and discount”, “convenient splitting” and “online operation”, and continuously improve customers’ acceptance and recognition of the products. The business team is carrying out all-round due diligence and providing services for core enterprises such as Shougang Qian’an Iron & Steel Co., Ltd. and Shougang Jingtang United Iron & Steel Co., Ltd. The team has conducted online and offline promotion meetings and Q&A meetings more than 20 times through which it has explained the operation process to customers, publicized the products and directly served nearly 300 customers. At present, the Shougang Supply Chain Financial Service Platform has granted a total Shougang Jingpiao quota of more than RMB 7.6 billion to 24 core enterprises, effectively supplementing the capital liquidity of the Group’s internal enterprises.