Core Viewpoint - The ongoing trade war between China and the United States has led to significant tariff increases, prompting companies to seek alternative markets and focus on cash flow management to survive the economic impact [2][3]. Group 1: Tariff Impact and Business Strategy - The U.S. has raised tariffs on Chinese goods to 245% and eliminated the tariff exemption for small packages under $800, forcing foreign trade companies to pivot towards domestic sales and alternative markets [2]. - Companies are facing cash flow challenges as they must pay tariffs upfront, leading to order cancellations from U.S. clients and resulting in unsold inventory [3][4]. - The Ministry of Industry and Information Technology has called for attention to the long payment terms that plague small and medium-sized enterprises (SMEs), emphasizing the need for faster cash flow to ensure business survival [3][20]. Group 2: Long Payment Terms as an Industry Issue - Long payment terms have become a widespread issue, with many suppliers and retailers operating under extended credit terms that hinder cash flow [4][6]. - The average accounts receivable collection period for large industrial enterprises increased to 64.1 days by the end of 2024, reflecting a worsening trend in payment delays [11]. - The retail sector often sees payment terms exceeding the legally stipulated 60 days, with some large retailers extending terms to several months [6][12]. Group 3: Financial Implications of Extended Payment Terms - Extended payment terms act as a form of "interest-free loan" for platforms, allowing them to leverage supplier funds for operational expansion [12][13]. - This practice creates a cycle where suppliers are pressured to finance their operations while waiting for payments, leading to increased reliance on costly loans [14][16]. - The financial strain on SMEs is exacerbated by the fact that they often cannot access traditional financing, while larger companies benefit from extended payment terms [14][20]. Group 4: Potential Solutions and Industry Evolution - There is a growing recognition among suppliers of the need to reduce reliance on extended payment terms, with some exploring innovative business models to enhance cash flow [19][20]. - Financial institutions are beginning to offer tools to help SMEs, such as policies that allow merchants to receive full payment upon consumer deposits, thereby shortening payment cycles [19]. - The industry is urged to shift from viewing payment terms as a tool for exploitation to a means of fostering mutual benefit, which could lead to healthier business relationships and improved cash flow for all parties involved [20][21].

账期不仅关乎利润，更关乎生死 电商平台出现后，平台成了大零售商，尤其以自营电商模式为主的平台，更多地扮演了传统零售商 的角色。平台企业较线下零售，波及商家的范围更广、影响程度更深，大型平台玩弄账期游戏，商 家愈发苦不堪言。 超长账期，已经成为中小企业不可忽视的隐性经营成本，甚至导致企业经营困难。消除这一行业痼 作者 丨 瀚星 中国人自古讲究"落袋为安"，钱只有放进自己的口袋里，才算是实际收益，企业经营也不例外。账 款能够及时"落袋"，是企业现金流健康的前提之一。 但近些年来，因账期过长而引发的中小企业经营困难的案例频现。 账期，是指从供货商供货到零售商付款的时间周期。供货商希望账期越短越好，这样可以迅速回笼 资金，支持持续生产。 双方地位对等时，合理的账期可以让钱和货更加高效地运转；但当话语权失衡，账期便成了双方博 弈的武器。一些体量较大的企业，甚至将账期延长到数月甚至半年以上。 疾，迫在眉睫。 时间就是生命线 对中小商家而言，现金流就是血液，时间就是生命线。 2022年，小有名气的蓝牙耳机代工厂库珀电子，因大量成品积压和跨境卖家拖欠货款，导致公司资 金链断裂，被迫停产并解散全部员工。 2024年，有500万 ...

Core Viewpoint - The development of Pudong over the past 35 years exemplifies China's reform and opening-up achievements, with a focus on innovation as a driving force for economic growth and global resource allocation [1]. Group 1: Financial Services and Support - Jiangsu Bank's Shanghai Branch has established a strong presence in Pudong since 2008, enhancing its institutional layout and focusing on technology finance, green finance, and supply chain finance to support regional economic development [3][5]. - The branch has actively participated in the "Chamber of Commerce Batch Loan" project, providing over 1.7 billion yuan in credit to reduce financing costs for small and medium-sized enterprises [6]. - The bank has launched various financial products, including the ESG Huilei Loan, which has provided over 3 billion yuan in green financing to more than 40 enterprises [5][9]. Group 2: Innovation and Collaboration - Jiangsu Bank has collaborated with the Lingang Administration Committee to host forums and sign strategic cooperation agreements, focusing on green low-carbon development [5]. - The bank has introduced innovative financing products, such as the warehouse receipt pledge financing, achieving a market share close to 100% and receiving recognition from the Shanghai Futures Exchange [9]. - The bank's supply chain finance project, launched in June 2024, has successfully established partnerships with state-owned enterprises, with a cooperation scale nearing 3 billion yuan [10]. Group 3: Cross-Border Financial Services - Jiangsu Bank has been proactive in building a cross-border financial service system, becoming one of the first banks to participate in the Shanghai Free Trade Zone and obtaining various pilot qualifications for cross-border trade [11]. - The bank has established a "Suyin Cross-Border" service plan to support enterprises in expanding overseas markets, signing strategic cooperation agreements to enhance international trade [11][13]. Group 4: Community and Social Impact - The bank emphasizes "finance for the people," providing diverse financial services to residents and small businesses, with retail assets under management exceeding 4.5 billion yuan in Pudong [14]. - The Nanhui Branch has developed a community financial service network, collaborating with over 180 grassroots party organizations to meet local financial needs [14][15]. - Jiangsu Bank's initiatives have led to a significant increase in loans to small and micro enterprises, with a total outstanding balance exceeding 2 billion yuan, reflecting a year-on-year growth of over 30% [17]. Group 5: Future Outlook - Jiangsu Bank aims to continue innovating financial service models and increasing support for key industries and social welfare, aligning with national strategies to enhance Pudong's development in technology innovation and industrial upgrading [18].

Group 1 - The company focuses on high-quality development by enhancing its core business areas, which include smart operations, engineering construction, and industrial chain investment [1] - The company has improved operational services by implementing a "24/7 passage" model and utilizing technologies such as the Changhe Tong APP and ETC to enhance service quality [1] - The company has completed the expansion and renovation of 609 kilometers of highways since 2014, receiving multiple prestigious industry awards for its projects [1] - The company has acquired additional highway segments, increasing its toll mileage by 294 kilometers and establishing development platforms in five provinces [1] - The company aims to build a comprehensive supply chain financial service system to support its main business development [1] Group 2 - The company has strengthened its corporate governance by enhancing the legal structure and ensuring transparency and effective checks and balances [2] - The company integrates party leadership into its governance to enhance governance effectiveness [2] - The company has established a five-year shareholder return plan, with total cash dividends amounting to 9.754 billion and an average annual cash dividend ratio of approximately 69.15% [2] Group 3 - The company will hold a 2024 annual report performance briefing and engage in activities for shareholders to visit the listed company [3] - The company plans to consider its operational status, development plans, funding needs, and shareholder opinions for a new round of shareholder return plans [3]

3月20日，兴享供应链金融平台应收账款电子凭证多层级融资业务焕新上线，次日即与某市供应链公共 服务平台完成首单业务落地。从核心企业上游供应商发起融资申请到银行放款，全程线上化操作，耗时 不到两小时，业务流程高效便捷，赢得了客户的高度认可。 2025年2月6日，中国人民银行会同国家金融监督管理总局等六部门发布《关于规范供应链金融业务引导 供应链信息服务机构更好服务中小企业融资有关事宜的通知（征求意见稿）》，提出要"规范应收账款 电子债权凭证业务，完善管理框架，防范业务风险"，并在电子债权凭证付款、转让拆分、转让登记、 资金清结算等方面进行了业务规范说明。 供应链金融作为科技金融与普惠金融的重点业务领域，是做好金融"五篇大文章"的重要抓手。兴享供应 链金融平台专注于构建供应链金融业务场景下的全方位金融服务体系，为核心企业及其上下游客户提供 涵盖基础应用产品、交易场景模式以及产融互补平台于一体的综合化供应链金融服务，目前已成功打造 了以兴享E（票）、兴享E（证）、兴享E（函）、兴享E（融）、兴享E（购）等为代表的多维度融资 产品矩阵，全面满足供应链上中下游客户在不同业务阶段的融资需求。近年来，兴享供应链金融平台通 ...

Core Insights - Zhejiang Zheshang Bank reported steady growth in operating income and net profit while actively serving the real economy, with operating income reaching 67.65 billion yuan, a 6.19% increase year-on-year, and net profit attributable to shareholders at 15.19 billion yuan, up 0.92% from the previous year [1] - The bank announced a profit distribution plan, proposing a cash dividend of 1.56 yuan per 10 shares, totaling 4.28 billion yuan, which represents 30.12% of the net profit attributable to ordinary shareholders, reflecting a strong return to shareholders and a solid financial position [1] Group 1: Strategic Focus and Economic Service - In the context of challenges facing the Chinese banking industry, including narrowing interest margins and increasing competition, Zhejiang Zheshang Bank's performance highlights its commitment to serving the real economy and maintaining steady growth [2] - The bank has focused on key areas to meet effective financing needs, comply with regulatory requirements, and enhance risk management, particularly in local debt and real estate sectors [2] - Since establishing the "Deepening Zhejiang" strategy in early 2022, the bank has achieved significant results, with total financing services in Zhejiang province exceeding 1 trillion yuan, a growth of over 230 billion yuan in three years [2] Group 2: Supply Chain Financial Innovation - Zhejiang Zheshang Bank has embraced digitalization and developed a comprehensive supply chain financial service model, integrating services across the entire supply chain [4] - The bank has successfully implemented over 3,500 digital supply chain projects, providing financing exceeding 700 billion yuan, with over 75% of clients being small and micro enterprises, demonstrating strong support for inclusive finance [5] - The bank's average financing rate has decreased, benefiting clients in the real economy and enhancing the efficiency of capital flow within the supply chain [5] Group 3: Data-Driven Ecosystem Construction - The bank is transitioning from a traditional financial intermediary to an ecosystem builder, leveraging data integration and sharing to enhance service capabilities [8] - By constructing a digital ecosystem and utilizing over 100 million transaction records, the bank has developed a robust risk control model that allows for rapid customer profiling [9] - The collaboration with Southern Power Grid exemplifies the bank's ability to create a comprehensive supply chain solution, facilitating over 18 billion yuan in project financing [9]

Group 1 - The core viewpoint of the news is that Industrial Bank's Jinan branch actively participates in the development of a supply chain bill ecosystem in Linyi, collaborating with various financial institutions and government departments to enhance supply chain financial services [1] - The bank emphasizes its commitment to supporting the real economy and has been exploring innovations in supply chain finance, leveraging financial technology to build a digital supply chain financial service system [1][2] - As of March 2025, the Jinan branch has provided over 60 million yuan in financing support to enterprises in Linyi, significantly contributing to the stability and development of the supply chain industry [1] Group 2 - The bank utilizes its strong financial technology capabilities to support the construction of Linyi Mall by offering tailored digital financial solutions for businesses within the mall [2] - By establishing an online payment settlement platform and providing electronic supply chain financing services, the bank enhances transaction efficiency and capital flow speed within the mall [2] - The use of big data and artificial intelligence allows for in-depth analysis of business data, providing precise financial services and risk warnings to reduce operational risks for enterprises [2]

Core Viewpoint - Everbright Bank has released its 2024 annual report, emphasizing its commitment to serving the real economy and national strategies through innovative financial services [1] Group 1: Implementation of National Strategies - Everbright Bank is enhancing service quality to support foreign investment and trade, achieving over $150 billion in international settlements by the end of 2024, an increase of 11.8% year-on-year [2] - The bank has nearly 16,000 international settlement clients and automated remittance business volume exceeding $1 billion [2] - Foreign exchange derivatives trading volume increased by 39.3% year-on-year [2] Group 2: Cross-Border Financial Services - The bank is providing comprehensive cross-border financial services to support domestic and foreign enterprises, facilitating over 16 billion RMB in low-cost foreign funds for domestic companies [3] - Seven overseas institutions have utilized various account systems to provide 14.8 billion RMB in credit to Chinese enterprises [3] - The bank has issued 187 overseas bonds to support Belt and Road projects and has actively engaged in green finance initiatives, issuing 35 green loans totaling approximately 8.49 billion RMB [3] Group 3: Development of Transaction Banking - Everbright Bank is focusing on developing its "Sunshine Transaction Banking" business, which includes supply chain finance, international business, and cash management [4] - The bank's manufacturing loans under trade financing increased by 37% year-on-year, while the balance of "Sunshine e-Payment" grew by 74.11% [4] - The number of customers in the automotive full-process network has approached 6,000 [4] Group 4: Digital Transformation and Supply Chain Services - The bank is leveraging advanced technologies such as big data, blockchain, and artificial intelligence to enhance online and digital financial services [5] - It has established various platforms for cash management and supply chain services, with over 20,000 transactions and a total transaction amount exceeding 20 billion RMB in the year [5]

证券代码：603288 证券简称：海天味业 公告编号：2025-013 佛山市海天调味食品股份有限公司 与广东海天商业保理有限公司 （一）关联方关系介绍 海天保理为公司控股股东广东海天集团股份有限公司的全资子公司，根据 《上海证券交易所股票上市规则》规定，海天保理为公司的关联方，本次交易 构成了关联交易。 进行关联交易的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、关联交易概述 公司第五届董事会第三次会议和 2022 年度股东大会审议通过了《公司拟与广东 海天商业保理有限公司进行关联交易的议案》，公司与海天保理签订合作协议。 公司根据供应商在海云信平台的申请，向供应商开具海诺单。供应商可以根据自 身资金需求选择将海诺单持有至到期收款、或转让至上游供应商、或转让至海天 保理进行融资。公司对开具的海诺单履行到期付款义务。该合作协议有效期为两 年，将于 2025 年 5 月到期。 公司拟于海天保理续签协议，新协议有效期两年，在协议有效期内公司在海 云信平台开具的海诺单最高余额不超过人民币 10 亿元。 公 ...

盛京银行认为，银行要走出传统信贷的"舒适圈"，将风控视角从"企业主体信用"转化为"物的信用"，用 产业思维重构金融逻辑，也许才是产品创新的破局之道。 盛京银行上海分行相关负责人，从银行视角，提出存货和仓单类的金融产品的创新痛点。传统信贷逻辑 是看股权、看报表、看房产抵押，这一套逻辑并不适用于货权类供应链金融业务。盛京银行认为，创新 的关键是深入产业，将风控视角转化为看货物流动性、看仓库管理、看处置路径，从产业运行逻辑中 找"答案"。该行通过深入产业调研，创新构建了"四维一体"风控体系——从押品准入、仓库评估、价格 风险、违约处置四个维度建立标准化评估模型，推出的大宗商品货押系列产品已累计为多家中小微企业 提供融资支持。 事实上，在整个供应链系统中，仓库是货物安全的关键。上港云仓(上海)仓储管理有限公司朱逸钦表 示，传统货押产品结构复杂、权责利不清晰，金融机构确权难度大，仓储企业对于风险责任的划分也存 在顾虑。在产品结构的法律关系中，仓储企业更倾向于 "以交付代替监管"的仓储银行合作新模式，这 既具有法条依据，也利于仓储企业与银行之间划分权责利。 价格风险管理是货权类金融产品设计的关键一环，也是大宗产业客户的必 ...