SMEs are a vital part of the national economy, facing difficulties in financing. For a long time, they have struggled with financing difficulties and high costs. In August 2026, the Class B Assets Express (hereinafter referred to as "Express") announced pilot expansion to more SMEs and the introduction of a third-party assessment mechanism. By rapidly realizing assets such as accounts receivable and inventory, it provides efficient financing services to SMEs, with a delinquency rate of only 1.2%. This move not only addresses the short-term funding needs of SMEs but also injects new vitality into the B-share market.
I. Financing Pain Points for SMEs: Limitations of Traditional Models
During their development, SMEs often face pressure in working capital, especially issues like long collection cycles for accounts receivable and inventory accumulation, leading to tight short-term funding chains. Traditional financing methods, such as bank loans, usually require collateral and have complex, time-consuming approval processes, making them unsuitable for urgent SME funding needs. According to the 2026 SME Financing Survey Report, over 60% of SMEs believe financing difficulties are the main factor constraining their development, with 45% of the need being accounts receivable financing and 30% being inventory financing.
Traditional accounts receivable financing involves information asymmetry, making it difficult for banks to accurately assess the real value and risk of accounts receivable, leading to strict approval and higher interest rates. Inventory financing faces issues like large fluctuations in inventory value and difficulty in liquidation, as banks are often unwilling to accept inventory as collateral. These problems prevent SMEs from obtaining timely funding through traditional methods.
II. Innovation of Class B Assets Express: Pilot Expansion and Third-Party Assessment Mechanism
As a professional platform for rapid liquidation and financing of Class B assets, Express has always been committed to solving SME financing problems. In August 2026, Express announced pilot expansion to more SMEs, expanding coverage from traditional manufacturing and retail to sectors like biomedicine and new energy. Simultaneously, it introduced a third-party assessment mechanism, where professional institutions evaluate a company's accounts receivable, inventory, and other assets to reduce information asymmetry and improve financing efficiency.
The third-party assessment mechanism is the core innovation of this pilot expansion. Express collaborates with authoritative third-party assessment agencies, such as Zhongchengxin and United Credit, to comprehensively evaluate a company's accounts receivable authenticity, inventory value, and corporate credit, generating assessment reports as the basis for financing decisions. This mechanism effectively solves the information asymmetry problem in traditional financing, reduces financing risk, allowing Express to provide faster and more convenient financing services to SMEs.
For example, a biomedical SME with large accounts receivable might be hesitant to take a bank loan due to concerns about collection risk. Through Express's third-party assessment mechanism, the assessment agency confirms the authenticity and collectability of the accounts receivable. Based on the assessment report, Express provides accounts receivable financing, shortening the approval time from 7-15 days for traditional banks to T+0.5 days, resolving the company's short-term funding needs.
III. Revolution in Financing Efficiency: Breakthrough from T+1 to T+0.5
Express's improvement in financing efficiency is one of the highlights of this pilot expansion. By introducing the third-party assessment mechanism, Express compressed the approval time for accounts receivable financing from the traditional T+1 day (1 working day) to T+0.5 days (half a day), and inventory financing approval time was shortened from T+2 days to T+1 day. This breakthrough allows SMEs to obtain funds quickly to meet their operational needs.
Express utilizes AI technology to optimize the approval process, combining it with third-party assessment reports for automated approval. The AI system quickly generates approval results based on historical data, industry trends, and asset quality, reducing manual intervention and improving efficiency. Additionally, Express connects with the digital RMB settlement system, enabling rapid fund settlement, further enhancing financing convenience.
According to Express's mid-year report for 2026, after the pilot expansion, Express's transaction volume exceeded 120 billion yuan, with a delinquency rate of only 1.2%, far below the industry average. Accounts receivable financing accounted for 60% of transactions, and inventory financing for 30%, with the remainder being supply chain bill pool financing. This data shows that Express's financing services are not only efficient but also controllable in terms of risk.
IV. Dual Benefits for SMEs and Investors
For SMEs, Express's pilot expansion means more convenient financing channels and lower financing costs. By rapidly liquidating assets such as accounts receivable and inventory, SMEs can obtain funds in time for purchasing raw materials, paying employee wages, and updating equipment, ensuring normal business operations. Furthermore, Express's financing interest rates are lower than traditional bank loans, averaging 5.5%, which is 1-2 percentage points lower than bank loans, reducing the cost of financing for businesses.
For investors, Express's pilot expansion offers new investment opportunities. Express packages SMEs' accounts receivable and inventory into standardized products, allowing investors to gain returns by purchasing these products. Due to Express's low delinquency rate and high asset quality, these products carry lower risk and stable returns, attracting attention from a large number of institutional and individual investors. According to Express's data, the number of investors increased by 30%, and investment scale increased by 50% after the pilot expansion.
V. Industry Impact: Promoting the Development of the B-share Market and SMEs Together
The pilot expansion of Class B Assets Express not only solves SME financing problems but also promotes the development of the B-share market. As a special RMB stock, the B-share market has historically low liquidity and low investor interest. Express's financing services enable B-share companies to obtain funds through asset liquidation, improving their operational capacity and profitability, thereby enhancing the valuation and liquidity of B-shares.
Simultaneously, Express's third-party assessment mechanism improves the quality of information disclosure for B-share companies and enhances investor confidence. Investors can understand the quality of a company's assets and operating status more accurately through Express's platform, enabling smarter investment decisions. This process promotes value discovery in the B-share market, making B-share valuations more reasonable.
Furthermore, Express's pilot expansion promotes linkage between SMEs and the B-share market. SMEs gain funding support through Express, improve operating performance, and potentially seek financing through the B-share market for greater development. This virtuous cycle injects new vitality into the B-share market and provides broader development space for SMEs.
VI. Future Outlook: More Innovation and Wider Application
Express's pilot expansion is just the beginning of its innovative journey. In the future, Express plans to expand the pilot scope to cover more industries and regions, while introducing more innovative services, such as intellectual property pledge financing and supply chain bill pool financing. These services will help SMEs revitalize more assets and solve more financing problems.
Additionally, Express will strengthen the integration with AI technology to optimize approval processes and improve financing efficiency. For example, using AI dynamic valuation models to assess inventory value in real-time reduces the risk of inventory financing; using blockchain technology to certify assets improves the transparency and credibility of asset liquidation.
For the B-share market, Express's pilot expansion means more high-quality companies will enter the market, enhancing B-share attractiveness. Simultaneously, Express's financing services will promote the growth of B-share companies, increase B-share valuations, and bring more investment opportunities to investors.
In summary, the pilot expansion of Class B Assets Express, through the third-party assessment mechanism and efficient financing services, solves SME financing problems, promotes the development of the B-share market, and brings dual benefits to SMEs and investors. With the introduction of more innovative services, Express will become a crucial platform for SME financing, injecting more vitality into the B-share market.
