EQS-News / 30/07/2021 / 10:19 UTC+8
Sheng Ye Capital's SY Technology and Tencent Cloud combine forces to create "smart construction + digital supply chain"
platform for developing industrial IoT
Hong Kong, July 30, 2021 - Sheng Ye Information Technology Services (Shenzhen) Co., Ltd. ("SY Technology"), a wholly
owned subsidiary of Sheng Ye Capital Limited (stock code: 6069.HK), a leading supply chain fintech platform, and
Tencent Cloud Computing (Beijing) Co., Ltd. ("Tencent Cloud") recently signed a cooperation which will greatly
accelerate the development of the Industrial IoT ("IIOT") ecosystem.
The cooperation will involve the creation of a "smart construction + digital supply chain" platform in which both
parties will harness SY Technology's smart supply chain management and digital fintech capabilities, and Tencent
Cloud's expertise in cloud computing, big data, blockchain, artificial intelligence ("AI"), and the Internet of Things
("IoT"). This initiative will also empower businesses in the construction industry with intelligent and innovative
applications for better management of costs, progress, materials suppliers, and supply chain finance.
In line with the Chinese government's "Internet Plus" strategy to boost digitalization, SY Technology has been actively
exploring innovative applications of the industrial digitalization and Internet of Things within the supply chain
finance segment. By implementing customized solutions on smart construction sites, supply chain SaaS and other IoT
technologies, SY Technology has significantly improved the efficiency of supply chain management for large enterprises
while providing flexible supply chain financial services to their suppliers. These proprietary smart solutions
developed by SY Technology for the infrastructure and medical sectors include smart construction sites, IoT data
analytics, digital finance as well as intelligent hospital SPD supply chain services.
As a national high-tech enterprise, SY Technology's capabilities in the IIOT and supply chain financial technology
space have also been widely recognized by the industry. To date, the company has covered over 10 industrial ecosystems,
connected with the IoT systems of nearly 200 core enterprises, served more than 8,000 small and medium enterprises ("
SMEs") with a cumulative total account receivable assets under management exceeding RMB 100 billion. In recent times,
the company had also taken a step forward to ink a digital supply chain collaboration with China Construction Eighth
Division First Construction Co., Ltd. based on its "Smart Inspection and Acceptance System". By using the company's
smart SaaS procurement platform, this greatly facilitates the loan application process, allowing suppliers to save up
to 90% processing time as compared with the traditional supply chain financing models. This IoT model not only helps
address the pain points faced by supply chain financing but also encourages the standardization of on-site acceptance
and procurement process, which in turn, reduces costs and provides more stability to the ecosystem of core enterprises.
SY Technology's collaboration with Tencent Cloud will also leverage Tencent Cloud's technology and resources to
optimize the company's in-house IoT data analysis and digital supply chain service capabilities. By integrating smart
construction sites, IoT, blockchain and other digital services into the construction industry, this will bridge both
industrial technology and digital finance such that both parties will be able to provide more inclusive financial
services that will benefit the SME community.
Tencent Cloud leverages Tencent's years of experience in mass Internet services and has created a super-large-scale
cloud service platform for governments, major enterprises and institutions, the Internet industry and individual users.
Tencent Cloud provides technology services such as cloud computing, big data, AI, and IoT, and offers other
professional industry solutions for various industries such as government bodies, infrastructure, finance,
transportation, energy, automobile, gaming, video and mobile application to help industry innovation.
Tencent Cloud's Welink intelligent construction platform is a core component of Tencent's offerings in the application
of smart buildings and smart cities. It deeply integrates cutting-edge technologies such as cloud computing, IoT, AI,
and data security, providing a comprehensive suite of support services for the digitalization of the construction
The rise of the Internet age has been one of the key catalysts for the evolution of the construction industry. The
traditional construction industry has challenges managing the complex composition of on-site personnel and safety
incidents accurately and effectively. With the continuous advancement of urbanization, the pain points of the
construction industry need to be resolved urgently. The smart construction site solution takes into account the two-way
demand of the construction party and the supervisory unit. It is the best solution to the current construction site
management problems and is also the development trend of "Internet +" in the construction industry. The use of
technology in smart construction sites facilitates the dynamic and real-time collection and process of various
datapoints such as manpower, machines, materials, methodology and environmental factors on the construction site to
effectively support on-site project operators. This will enable project managers to improve the construction quality,
cost and progress of projects, which in turn ensuring the completion of projects, and forming an intelligent
construction pipeline that focuses on project progress and cost. The innovative approach ultimately leads to more
accurate and timely data collection, smarter data mining and analysis, and more intelligent integrated project
This innovative collaboration is a recognition of the strengths between SY Technology and Tencent Cloud. Both parties
will further promote the "smart construction + digital supply chain" model in areas such as smart construction site,
IoT, AI, blockchain, digital finance and sustainable development, with an aim to facilitate the intelligent upgrade of
the construction and infrastructure industries.
- END -
About Sheng Ye Capital Limited (HKEx: 6069.HK)
Sheng Ye Capital (6069.HK) is a leading supply chain fintech platform. Through its Dual-Engine, One-Platform strategy,
the company harnesses industrial technology and digital finance to create a comprehensive supply chain finance
ecosystem. SY Capital leverages big data analytics to provide intelligent matching of assets to capital, offering a
one-stop SaaS and fintech solution for enterprises and financial institutions, while effectively addressing the
financing needs and pain points of SMEs within the supply chain ecosystem.
Sheng Ye Capital is listed on the Main Board of the Hong Kong Stock Exchange and is also a constituent of the MSCI
Small Cap China Index, Hang Seng Composite Index and Shenzhen-Hong Kong Stock Connect. Some of the company's notable
institutional investors include China Taiping Insurance, Olympus Capital and Temasek Holdings.
Sheng Ye Capital Limited
Tel: 0755-6188 0088-842
Christensen China Limited
Tel: +852 2232 3933
30/07/2021 Dissemination of a Marketing Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Media archive at www.todayir.com
(END) Dow Jones Newswires
July 29, 2021 22:19 ET (02:19 GMT)