Zhongtengxin has entered into a partnership with Songli Industry and Trade to work together on supply chain finance

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Zhongtengxin has entered into a partnership with Songli Industry and Trade to work together on supply chain finance. Recently, Zhongtengxin Financial Information Services (Shanghai) Co., Ltd. (hereinafter referred to as “Zhongtengxin”) and Shanghai Songli Industry and Trade Co., Ltd. (hereinafter referred to as “Songli Industry and Trade”) announced their collaboration. The two parties will leverage their respective resource advantages to carry out in-depth cooperation in the field of supply chain finance, using a \"supply chain finance + fintech\" approach to support the development of small and micro enterprises along the industrial chain. Under this cooperation agreement, Zhongtengxin will leverage its years of experience and strengths in fintech to provide Songli Industry & Trade with services related to the development of supply chain finance – specifically, the setup of guaranteed warehouse systems – as well as risk management consulting and technical support. Songli Industry & Trade, drawing on its status as a key enterprise in the industry chain, will offer customer resources and supplementary information. Together, they will utilize Zhongtengxin’s extensive practical experience and technological capabilities to carry out supply chain finance activities, thereby supporting the development of smaller enterprises downstream in the supply chain. To date, Zhongtengxin has helped Songli Industry & Trade develop an online end-to-end supply chain finance system from scratch, covering all aspects of the process including customer acquisition, risk management, accounting, and debt collection. Based on this system, Songli Industry & Trade has established partnerships with the first batch of downstream distributors who applied for these services, enabling the connection between funds and assets; it will continue to serve other downstream distributors who have such needs. Songli Industry & Trade is a key supplier to well-known electrical appliance brands such as Midea and Gree. Over the years, it has built a network of stable downstream distributors and gains thorough insight into transaction data, which provides it with a solid foundation and motivation to develop supply chain finance systems. Zhongtengxin is a fintech service provider controlled by CITIC Industrial Fund. Through years of practical operations, it has developed technological capabilities and service models that have been proven effective in areas such as customer acquisition, risk management, and operation. This collaboration with Songli Industry and Trade represents an important initiative by Zhongtengxin in the field of supply chain finance. It aims to explore effective integration between fintech and industry, transforming the operational data of small and medium-sized enterprises within the entire supply chain ecosystem into \"evaluable credit\" and \"tradable assets\", thereby addressing the efficiency challenges associated with supply chain finance.