Wave Cyber (Shanghai) (SH:688718) Cai Fu Zai Xian·2025-05-08 02:17Core Insights - The People's Bank of China and six other departments issued a notification to regulate supply chain finance, effective from June 15, 2025, which aims to strengthen supervision while allowing space for digital innovation [1][3] - The notification addresses three core issues in supply chain finance, including establishing a comprehensive debt monitoring mechanism, limiting the payment term for electronic receivables to a maximum of one year, and prohibiting forced high-interest financing for chain enterprises [3] - The policy encourages commercial banks to develop diversified supply chain finance models and explore "supply chain de-centralization" innovations, providing a policy interface for technology companies to enhance financing accessibility for small and micro enterprises [3][5] Industry Developments - Microbanking technology company WeBank has been focusing on inclusive finance for ten years, with its "invoice chain loan" solution resonating with the policy direction, helping 17 banks achieve decentralized credit granting and providing over 30 billion yuan in financing to 20,000 small and micro enterprises [4] - The digital innovation effectively addresses the dual challenges of traditional supply chain finance by avoiding excessive credit risk from core enterprises and reducing the high costs of rights confirmation for chain enterprises [4][6] - The new regulations are seen as a catalyst for the standardized development of the industry, with WeBank positioning itself as a licensed credit institution and focusing on various supply chain sectors such as exports, liquor, e-commerce, government procurement, and pharmaceuticals [5] Future Outlook - The company anticipates that the number of small and micro enterprises it assists could grow from 10 million to 20 million over the next three years, driven by ongoing policy benefits [5] - The integration of a comprehensive risk control system is necessary for banks to achieve batch credit granting, leveraging WeBank's accumulated client base of over 300 banks and differentiated scoring models for small enterprises [6] - The collaboration between regulatory frameworks and technological innovation is expected to balance the development of supply chain finance, contributing to new financial services for the real economy [6]