SY Holdings Partners with Shopee to Empower China’s Sellers in Southeast Asia Expansion
Source EQS
| Recently, SY Holdings Group Limited (“SY Holdings”, Stock Code: 06069.HK), a leading "AI+ industrial supply chain" digital technology company, announced a strategic partnership with Shopee, Southeast Asia’s largest e-commerce platform. The collaboration will leverage e-commerce ecosystem integration and digital technology to jointly launch cross-border e-commerce supply chain liquidity solutions, empowering Chinese brands to accelerate their expansion into the Southeast Asian market. Shopee, which dominates e-commerce in Southeast Asia, operates in over 10 markets including Singapore, the Philippines, and Malaysia, boasting more than 7 million active sellers and reaching over 1 billion potential consumers. In 2024, Shopee recorded over 10 billion orders and a gross merchandise volume (GMV) exceeding $100 billion. Its parent company, Sea Group (Stock Code: SE.US), is the first Southeast Asian internet company listed on the New York Stock Exchange (NYSE), with a current market capitalization exceeding $70 billion. Tencent (Stock Code: 00700.HK) is its largest shareholder. Against the backdrop of China’s efforts to cultivate new momentum for foreign trade, SY Holdings will collaborate with Shopee to help Chinese sellers capture the growth opportunities of China’s rapidly expanding cross-border e-commerce sector. Preliminary statistics from China Customs indicate that cross-border e-commerce imports and exports reached RMB 2.63 trillion in 2024, a year-on-year increase of 10.8%, solidifying its role as a key driver of China’s foreign trade growth. Additionally, according to data disclosed by Amazon and third-party institutions, the number of Chinese cross-border e-commerce sellers (accounts) has surpassed 2.4 million, with small and micro-sized sellers (annual revenue below RMB 2.1 million) accounting for over 55% of the market, gradually becoming the core force in industry development. Notably, as one of the main battlefields for Chinese sellers’ overseas expansion, the Southeast Asian e-commerce market holds immense potential, with a growth rate of 18.6%—the highest globally. According to the 2023 Southeast Asia Digital Economy Report jointly released by Google, Temasek, and Bain & Company, Southeast Asia’s e-commerce GMV reached approximately $139 billion in 2023 and is projected to reach $186 billion by 2025. SY Holdings noted that Southeast Asia, geographically adjacent to China, is one of the world’s most promising regions for e-commerce development and an emerging blue ocean market for Chinese sellers’ overseas expansion. With increasing numbers of Chinese brands entering cross-border e-commerce platforms to "go global," liquidity management has become a core competitive advantage for sellers to capture overseas markets. The liquidity solutions launched by SY Holdings and Shopee will not only attract more Chinese sellers to join Shopee but also drive a reshaping of the seller landscape in the Southeast Asian e-commerce market. Sellers with stronger and more abundant liquidity will be better positioned to flexibly respond to market changes, formulate effective pricing strategies and promotional plans, rapidly expand market scale and competitive advantages, and deepen the penetration of Chinese brands among Southeast Asian consumers. Looking ahead, SY Holdings expects to reach millions of potential Chinese sellers, unlocking a multi-billion-dollar liquidity market in cross-border e-commerce. As an "AI+ industrial supply chain" digital technology company, SY Holdings actively responds to policies advocating for high-quality cross-border e-commerce development and stability and quality improvement in the foreign trade ecosystem. It continues to prioritize strategic emerging industries such as cross-border e-commerce. In the future, SY Holdings will further deepen its ecosystem integration with cross-border e-commerce platforms, leveraging its "transaction-centric" risk management model to accurately assess and address the funding needs of e-commerce merchants. By dynamically analyzing market trends, it will assist merchants in capturing business opportunities and providing flexible liquidity solutions, empowering Chinese sellers to "sell globally" and Chinese brands to reach the world.
24/03/2025 Dissemination of a Financial Press Release, transmitted by EQS News. |
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