Jiaxin Silk (002404): Holding Subsidiary Company Plans To Jointly Invest 90 Million Yuan To Set Up Jiaxin Pawn

On July 7, Jiaxin silk (002404. SZ) announced that the company held the 10th meeting of the 8th board of directors on July 6, 2021. The meeting deliberated and passed the "proposal on foreign investment of holding subsidiaries" by 9 votes in favor, against and abstention, It is agreed that Zhejiang Jiaxin Financial Leasing Co., Ltd. and Jiaxing zhongsilk silk Home Textile Co., Ltd. jointly contribute 90 million yuan to establish Guangxi Jiaxin pawn Co., Ltd. (provisional name, subject to the approval of industrial and commercial registration, "Jiaxin pawn").

The target customers of Jiaxin pawn are enterprises and merchants with real transaction background and financing demand in the whole silk industry chain of production, trade and circulation.

Through the supply chain management information platform of jincanwang company, the upstream and downstream enterprises and merchants of silk industry chain are collected to provide pawn service of raw materials such as cocoon, silk, silk and other raw materials for small and medium-sized enterprises and merchants with real transaction background and financing demand in the whole industry chain of silk industry production, trade and circulation, and collect comprehensive service fees (including storage fees, insurance fees, insurance fees, etc Interest, etc.).

The company has been deeply engaged in the silk industry for more than 30 years and has a core position in the cocoon and silk industry. Around the company gathering, it has formed a supply chain cluster covering all aspects of the silk industry chain; Jincanwang, a holding subsidiary, has long been engaged in value-added services and supply chain management of the cocoon and silk industry, such as warehousing, logistics, information release, trade matching, supply chain finance, etc. its "jincanwang" and "China Cocoon and silk trading market" developed and operated in 2000 are professional Internet information and trading platforms for cocoon and silk industry, It enjoys high attention and authority in the industry; The company has a good "business flow, logistics, capital flow, information flow" foundation and rich operation experience to carry out the pawn business of raw materials such as cocoon, silk, silk and so on.

The establishment of Jiaxin pawn can expand and enrich the business channels of "jincanwang" supply chain platform, provide more convenient, fast, professional and diversified financial services for small and micro enterprises in cocoon and silk industry, help small and micro enterprises solve the problems of financing difficulties and high financing costs, and further consolidate and expand the business scale.

The company's investment in setting up Jiaxin pawn will not only increase economic benefits, but also further play the leading role of "jincanwang" as the trade, price, information and logistics center of the domestic cocoon and silk industry, strengthen and consolidate the viscosity of the supply chain enterprises of the cocoon and silk industry to the "Golden silkworm Web", expand the collaborative trade, supply chain financial services, and The scale of warehousing and logistics services will drive the Internet derivative businesses such as information, consulting services and advertising services, and further enhance the influence of "jincannet" in the cocoon and silk industry.