Shanghai Rural Commercial Bank serves as a "watchman" for technology-based enterprises through companionship services. Shanghai Rural Commercial Bank | Services | Enterprises

Release time:Apr 15, 2024 12:48 PM

Looking at the world, science and technology have become the decisive force in economic and social development. The prosperity of technology leads to the prosperity of the nation, and the strength of technology leads to the strength of the country.

In order to further accelerate the implementation of the innovation driven development strategy, the report of the 20th National Congress of the Communist Party of China clearly points out: "Strengthen the position of enterprises as the main body of scientific and technological innovation, give full play to the leading and supporting role of technology-based backbone enterprises, create a favorable environment for the growth of technology-based small and medium-sized enterprises, and promote the deep integration of the innovation chain, industry chain, capital chain, and talent chain."

In Shanghai, the capacity and vitality of technological innovation are constantly increasing. Focusing on the basic framework of building a globally influential technology innovation center in Shanghai, a package of financial instruments supporting the high-quality development of technology-based small and medium-sized enterprises is constantly emerging. During this process, Shanghai Rural Commercial Bank has won the trust of a group of small and medium-sized enterprises with its excellent strength, thoughtful service, and long-term companionship.

As of the end of June this year, the balance of technology enterprise loans in the bank exceeded 83 billion yuan, and the number of technology enterprise loan customers exceeded 3000, ranking among the top in terms of scale and number among peers in Shanghai.

"They who provide charcoal in the snow have never disappointed us."

In April 2023, the stem cell product "ELPIS Umbilical Cord Mesenchymal Stem Cells" independently developed by Huaxia Source Cell Group completed the DMF filing with the US FDA. This product is currently the world's first mesenchymal stem cell filing product publicly disclosed by the FDA, which not only proves its international recognition, but also lays the foundation for Huaxia Source to open up the overseas stem cell market.

Looking back on the R&D journey, Zhu Hao, CEO of Huaxia Source, admitted that it was not easy.

"There is a saying in the biopharmaceutical industry: the birth of a new drug has three '10's':' 10 years of research and development, 1 billion yuan investment, and 1/10 success probability. 'In recent years, with the strong support of relevant policies and the optimization and improvement of research and development strategies, research and development efficiency and success probability have been effectively improved. However, in our practice, 1 billion yuan investment is far from enough." Zhu Hao said.

In order to alleviate financial pressure, Huaxia Yuan has also attempted to apply for bank loans. However, due to being a startup with no valid collateral and low invoicing income, most banks are only willing to provide small-scale credit for risk considerations. Over time, Huaxia Yuan abandoned the financing method of bank loans and instead sought support from social capital.

In 2020, Huaxia Yuan officially entered the guidance period for listing on the Hong Kong stock market, promoting the upgrading of three products simultaneously, and the demand for funds increased sharply. However, the sudden COVID-19 has had a huge impact on the bio innovative drug industry. Watching the pressure on liquidity, a phone call gave Zhu Hao hope——

It turned out that the staff of Shanghai Rural Commercial Bank received the application form for financing needs of young entrepreneurs filled by Huaxiayuan on the official account of "Shanghai Youth Federation", and took the initiative to come to the docking!

But soon, a wave of concern surged in my heart: "Will the credit amount be very small? Will the loan period be very long?"

At that time, within the Shanghai Rural Commercial Bank, the staff looked at the reports provided by Huaxia Yuan and also "made a mistake". One end is characterized by strong comprehensive R&D capabilities and promising development prospects, while the other end is characterized by typical small and medium-sized enterprises with "light assets," "high risks," and "lack of revenue." After repeated research, they finally decided to go to Huaxia Yuan for on-site due diligence.

After gaining a deep understanding of the company's business situation and subsequent repayment sources, the staff confirmed that the risk was controllable and completed the loan disbursement of 3 million yuan of working capital within 7 days, which solved the urgent need for Huaxia Yuan.

Two years later, under the combined influence of multiple factors, Huaxia Yuan once again faced liquidity risks. Shanghai Rural Commercial Bank proactively extended the credit line of 4 million yuan for Huaxia Yuan. Later, Shanghai Rural Commercial Bank found through research that Huaxia Yuan is in a critical stage of research and development transformation, and related products have broad market prospects. After multiple discussions, the loan amount has been increased to 10 million yuan, once again "transfusing" Huaxia Yuan.

"Adding icing on the cake is easy, but delivering charcoal in the snow is difficult. The crucial credit lines have given us a steady stream of confidence. We have felt the sincerity of Shanghai Rural Commercial Bank and have been moved by it. To this day, Shanghai Rural Commercial Bank is still our only lending bank, and they have never disappointed us," said Zhu Hao.

"Not only financial data, but also tailored services"

Speaking of Shanghai Rural Commercial Bank, Sheng Xiaohui, the financial manager of Gray Environmental Protection Materials Co., Ltd., used the following sentence: "Not only financial data, but also customized services."

This is a technology enterprise established in 2017, dedicated to the research and development, production, operation, and reuse of environmentally friendly circular packaging materials. It is the first commercial enterprise in China to launch environmentally friendly foldable circular express packaging materials and shared circular turnover boxes.

In 2019, Grayscale Environmental Protection also faced financial pressure, but the situation was even more challenging compared to Huaxia Source - the company not only had not made substantial breakthroughs in research and development, but also adopted a new supply chain cooperation model in business, with numerous shareholders and a complex equity structure. Various factors have led to suboptimal financial data, making it difficult to obtain bank loan support.

In July of the same year, Shanghai officially launched the "Pujiang Light" action, focusing on leveraging the role of capital markets in serving technological innovation and promoting the high-quality development of science and technology innovation enterprises in the city. Shanghai Rural Commercial Bank actively responds to the call, investigates the actual situation, and provides supporting support for technology-based and national strategic oriented enterprises that have not yet achieved profitability.

"When the staff of Shanghai Rural Commercial Bank really appeared in front of us, I still felt unbelievable," said Sheng Xiaohui. After in-depth communication and understanding between both parties, in March 2021, Shanghai Rural Commercial Bank developed a combination plan for innovative equity loan business for grayscale environmental protection, investing 10 million working capital.

"This is the 'first bucket of gold' we have obtained from the bank, which is of great significance. Thank you to Shanghai Rural Commercial Bank for their unwavering commitment to us, accompanying, witnessing, and supporting our growth all the way," said Sheng Xiaohui.

After 4 months of operation and 3 years of experience accumulation, Shanghai Rural Commercial Bank launched the "Xin Energy Strategic Emerging Customer Cultivation Plan 2.0 Service Plan", in collaboration with government commission platforms, risk sharing institutions, and professional service institutions, to form a "One Xin Four Wings" customer-centric new service model. According to the development laws and growth needs of the enterprise, the inventory of enterprises is divided into five stages: "Silver Seed", "Gold Seed", "Xin Seed", "Proposed Listing", and "Mature", providing precise product matching, professional guidance and cultivation, policy resource docking, special quota matching, green approval channels, and other measures to accompany the growth of the enterprise in all aspects.

Grayscale Environmental Protection has become the first investment and loan linkage enterprise to join Xinke Energy. In addition to receiving further financial support, with the recommendation of Shanghai Rural Commercial Bank, preliminary cooperation intentions have been reached with upstream enterprises, obtaining higher quality new material channels, and having more confidence in implementing the "dual carbon" action.

"'Xin Energy 'is a comprehensive empowerment, and each empowerment is tailored to the actual needs of the enterprise." Sheng Xiaohui introduced that currently, Grayscale Environmental Protection has launched a listing plan, and under the promotion of' Xin Energy ', it has already connected with multiple securities firms and officially entered the preparation stage for listing.

"Accompanying the entire lifecycle and empowering people to live a better life"

In January 2023, the first session of the 16th People's Congress of Shanghai was successfully held, clearly stating the need to fully stimulate the first driving force of innovation, build a vibrant innovation ecosystem, and create a "nuclear explosion point" as a source of innovative ideas and a new track of development. The work report of the Shanghai Municipal People's Government also proposes to improve the gradient cultivation system for high-quality small and medium-sized enterprises and deepen inclusive financial advisory services.

On the new journey, Shanghai Rural Commercial Bank has been making long-term contributions. On February 28th, "Xinli Energy" iterated and upgraded again. The "Xinli Energy" strategic emerging customer cultivation plan 3.0 service plan provides a comprehensive service system of "five specialized services+six dimensional empowerment", highlighting the integration of investment and commercial banks, strengthening comprehensive empowerment, and creating a cooperation ecosystem "Xinli Ecology" with science and technology innovation enterprises as the core, helping "Xinli Energy" customers improve their core competitiveness.

The qualitative changes brought about by this upgrade are being felt firsthand by Huaxia Source and Grayscale Environmental Protection. Compared to the beginning of the cooperation, the operational status and financial needs of the enterprise have undergone fundamental changes. In order to help enterprises achieve high-quality development, Shanghai Rural Commercial Bank has proactively adjusted its service plan based on dynamic research, actual needs of enterprises, and requirements for enterprise ecological construction——

Huaxia Yuan is in the guidance period for its listing, and Shanghai Rural Commercial Bank has sent a dedicated person to develop capital planning suggestions for it, and invited experts from the "Xinke Energy" database to provide targeted policy advice and listing guidance for the enterprise;

While planning to go public, Grayscale Environmental Protection is seeking to further expand its market influence. Shanghai Rural Commercial Bank has invited it to participate deeply in industry forums and discuss the experiences and insights of similar high-tech enterprises on entrepreneurship and listing. This has built a bridge for enterprises to communicate and cooperate with well-known experts, scholars, and excellent enterprises in the industry. As a result, grayscale environmental protection has gained the opportunity to collaborate with representative enterprises in the domestic smart energy carbon industry.

"Most of the people in our company have a background in research and development and do not have any financial background. The professional solutions provided by Shanghai Rural Commercial Bank have largely filled the gap in our development, allowing us to focus on scientific research and deliver more safe and effective drugs to patients," said Zhu Hao.

"Shanghai Rural Commercial Bank has truly achieved the service of accompanying the entire life cycle, and it is through its continuous empowerment that we have gradually opened up our horizons, found opportunities, and achieved coordinated development of the upstream and downstream of the industrial chain. Now, we are exploring further ways of cooperation with Shanghai Rural Commercial Bank to better protect our green mountains and waters," said Sheng Xiaohui.

According to statistics, as of the end of June 2023, Shanghai Rural Commercial Bank's "New Energy" strategic emerging cultivation plan had a total of 870 enterprises included in the database, with a credit scale of over 75 billion yuan. There were 89 listed companies in the database, and another 84 cultivation enterprises were in the stage of guidance filing or planned listing. The scale of the cultivation database continued to expand. Among them, more than 35% of corporate clients have been cooperating for more than 5 years, and about 20% of corporate clients have been cooperating for 10 years or more.

The ultimate goal of technological innovation is for the people. The products and services generated by the innovation of technology-based small and medium-sized enterprises will eventually benefit thousands of households and make people's lives better. Looking towards the future, Shanghai Rural Commercial Bank still accompanies and warms, and will continue to uphold the mission of "inclusive finance to help people live a better life". It will silently escort the high-quality development of technology-based small and medium-sized enterprises, thus building heart to heart bridges, exchanging happy moments, and guarding the lights of every household.

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