Shandong Port Investment Holdings successfully lent 6 million yuan ($872,400) to a sea cucumber customer through electronic warehouse receipt pledge financing for the first time. This marked the first cooperation between Shandong Port Investment Holdings and Weihai Port, a subsidiary of Shandong Port Group (SPG), in pledge financing supervision and also the successful landing of the first sea cucumber pledge scenario innovation project.

Unlike the traditional single transaction model of collateral business, the sea cucumber pledge scenario innovation project has created a new model for the mass development of collateral business by building business cooperation development scenarios, which will greatly improve the quality and efficiency of traditional collateral business.

During the project promotion process, Shandong Port Investment Holdings conducted a thorough investigation and research on the types of sea cucumber and industry conditions. It chose saline sea cucumber with strong universality as the pledge type and made a preliminary plan. After the project was submitted, two on-site discussions were conducted to continuously improve the plan.

After the project was approved, Shandong Port Investment Holdings and Weihai Port carried out cooperation in marketing, goods warehousing, price verification, and quality inspection. The launch of the first sea cucumber pledge scenario innovation project was completed efficiently within two days, which demonstrated the outstanding advantages of "port business + supply chain finance" of SPG, winning high recognition from customers.

Shandong Port Investment Holdings and Weihai Port successfully lend 6 million yuan to a sea cucumber customer through electronic warehouse receipt pledge financing for the first time. [Photo/WeChat account: Shandong-Port]

SPG is the world's largest port conglomerate in terms of cargo capacity. [Photo provided to chinadaily.com.cn]