a new benchmark for financing in the pharmaceutical distribution industry! jointown joins hands with jd technology to create a new financial ecosystem
2024-09-03
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it is a consensus in the industry that supply chain financial services can help small and medium-sized enterprises with financing difficulties. however, when it comes to each vertical industrial chain, there are also large differences in financial services between core enterprises and upstream and downstream enterprises. for small and medium-sized enterprises upstream and downstream of core enterprises, the demand for funds is "short, frequent, fast and urgent", so they need convenient, low-cost and timely responsive financial support.
industry insiders pointed out that the lower the threshold for financial services for small and micro customers, the more difficult it is to identify risks, and the higher the technical level required. for a long time, small and micro customers generally have insufficient credit information and risk data. faced with such sinking customers, "not daring to lend, not willing to lend" is both the current situation and the pain point of the industry.
in response to this common problem in the industry, jd technology has launched a procurement financing service - an all-online financing product for dealers to solve their funding needs for ordering and purchasing. it uses the dealers' historical operating data in core enterprises as the main credit basis to solve the dealers' funding needs in the ordering and purchasing process.
jointown pharmaceutical group is the largest private pharmaceutical commercial enterprise in china, with its main businesses covering pharmaceutical distribution, pharmaceutical cso, pharmaceutical industry, and new pharmaceutical retail. in 2024, jointown will join hands with jd technology to cope with the challenges of long payment terms and slow capital turnover that are common in the pharmaceutical distribution industry, and rely on jd's supply chain financial technology capabilities to inject financial vitality into downstream distributors and provide strong growth momentum.
"we reached a cooperation agreement very quickly. it took only two weeks from the collision of intentions to the signing of the agreement." a member of the jiuzhoutong project recalled, "jd technology has a mature supply chain financial solution and has tailored a series of procurement financing support plans for jiuzhoutong and our downstream dealers, with an initial credit line of 3 million. in the subsequent cooperation, jd technology flexibly adjusted the credit line to a maximum of 10 million according to our actual needs."
members of the jiuzhoutong project said that what impressed them most was the working status of jd technology, which was like a "special forces soldier" - within two months, it visited all of jiuzhoutong's secondary companies and met and communicated with front-line customers face to face. it not only brought financial support, but also brought industry insights and solutions, effectively alleviating the financial pressure of downstream distributors. "jd supply chain fintech's procurement financing products have high single credit limits and revolving credit, which can be borrowed and repaid at any time, greatly improving the convenience of downstream distributors, and further enhancing jiuzhoutong's ability to use supply chain financial services to stabilize and consolidate the chain and increase transaction scale."
luo defang, general manager of the distribution division of jointown pharmaceutical group, could not hide his excitement when talking about this cooperation: "the in-depth cooperation with jd technology is an important milestone in jointown's development history. we are impressed by their execution, team vitality and innovation. this cooperation not only brings us tangible financial support, but also paves a more solid path for our future development."
as early as 2013, jd technology took the lead in launching the industry's first internet-based factoring financing product, jingbaobei, to serve jd's self-operated suppliers. based on this, jd supply chain fintech has also successively launched a variety of supply chain fintech products and services serving upstream and downstream, and joined hands with partners from thousands of industries to promote the virtuous cycle of "technology-finance-industry" and continue to help the high-quality development of the real economy.
