Shanghai Electric successfully launched its first transaction of supply chain commercial bills on Shanghai Commercial Paper Exchange.

Shanghai Electric announced on June 29 that it has officially been approved to access the supply chain bill platform of Shanghai Bills Exchange, becoming one of the first state-owned enterprises in Shanghai to obtain the qualification for this business access. It is reported that this platform is directly connected to several financial institutions such as Bank of Communications, China Merchants Bank, and Shanghai Rural Commercial Bank, and has successfully completed the issuance and discounting of the first supply chain commercial bill. It can provide suppliers with online price comparison and "instant discounting" services, effectively expanding financing channels and reducing financing costs. At the same time, this is also an important innovative initiative in the construction of Shanghai Electric's treasury system, significantly enhancing the ability to centrally manage and coordinate the use of bills. It is understood that the successful implementation of the first business on this platform has brought substantial cost savings and efficiency improvements to companies in the industrial chain. Through the supply chain bill platform, the discounting costs for suppliers have decreased by 20% to 40% compared to traditional methods, effectively alleviating the pressure on enterprise fund turnover.