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Confidences from Loans China CITIC Bank Helps Private Enterprises Go Over " Mountain of Financing "

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(Excerpt from Xinhua News Agency)

Xinhua News Agency, Beijing, Nov. 27 (Reporters: Wu Congsi, Wu Yanting)--The injection molding machine "rumbled" to run and several workers are operating itinerantly in an orderly way. What they operate is the equipment of LED lamp package bracket for mobile phone backlight produced by Shenzhen DEREN Electronics Co., Ltd.

"This is an ultra-thin LED lamp bracket with a minimum insulation thickness of 0.05 mm and a minimum package height of 0.4 mm." Huo Zhudong, technical director of DEREN Electronics R&D Center, told reporters that the precision of the product's production mould and production equipment is so high that there are only 2-3 suppliers in the world who can produce this bracket in enormous quantities.


The picture shows the workshop where DEREN Electronics Co., Ltd produces LED lamp brackets

The company, which specializes in household electrical appliances and consumer electronics, automotive electrical systems and on-board charging modules for new energy vehicles, is a market leader in many segments and has strong technical and product competitiveness. In 2018, DEREN Electronics encountered "Mountain of financing" under the background of increasing uncertainty in the international situation, tightening domestic financial environment, pressure on the cash flow of enterprises themselves and expanding reproduction demand.

In September 2018, Qiu Jianmin reflected on the financing difficulties faced by the company at a symposium on financial services for private enterprises and small and micro enterprises jointly convened by the People's Bank of China and All-China Federation of Industry and Commerce. After understanding the situation, the head office of China CITIC Bank said at once that it would dock with the enterprise and formulate a support plan. Shenzhen Branch of China CITIC Bank immediately carried out an investigation and visit to the company, customized the comprehensive credit granting scheme to meet its capital needs, expedited and completed the examination and approval procedure under the premise of controllable risk.

"This fund is like charcoal in the snow and rain in time." Qiu Jianmin said with emotion that when Typhoon "Mangosteen" ravaged Shenzhen in September last year, the staff of Shenzhen Branch of China CITIC Bank were still working overtime to rush through the approval process, which was very touching.

The credit which DEREN Electronics has obtained basically meets the periodical financing needs of the company, greatly alleviates the operating pressure. In addition, Shenzhen Branch of China CITIC Bank provided DEREN Electronics with other financial services, such as payment and settlement, online self-discounting "discount in seconds", payroll credit and so on.

Only when the enterprise unloads the heavy burden can they go further; plug in the wings of capital and the enterprise will fly higher.

After obtaining the credit, DEREN Electronics accelerated the expansion the expansion of the production line of the new energy on-board charger business, won the orders of global high-end brands such as Porsche, BMW, Volkswagen, Peugeot Citroen, etc., and became the core supplier in the limousine segment market. Its new energy on-board charger products have been in a leading position in the world.


The picture shows the product sample display of Shenzhen DEREN Electronics Co., Ltd