On March 13, 2024, the IB Chenggong Branch in Kunming received a letter of gratitude, a heartfelt acknowledgment from Yunnan Youtian New Energy Technology Co., Ltd. This letter symbolizes the Bank’s warm-hearted financial services to the new energy private sector.
Yunnan Youtian New Energy Technology Co., Ltd., a joint venture subsidiary of Huayou Holdings and Yuntianhua Shares, is a leading company in lithium battery cathode materials and a key investment attraction project in Yunnan Province. With a planned investment of RMB 10 billion to construct an integrated industrial base for annual production of 500,000 tons of lithium iron phosphate materials, the project aligns with Yunnan’s strategic emphasis on new materials industry as a key “hundred-billion-yuan industry.” It plays a pivotal role in strengthening industry leaders, supplementing the industrial chain, and fostering clusters, thereby optimizing Yunnan’s industrial structure and promoting high-quality industrial development.
IB’s Chenggong Branch in Kunming proactively engaged with Yunnan Youtian New Energy Technology Co., Ltd. even before its establishment in early 2022. Recognizing the company’s funding gap for project initiation, the Bank conducted multiple on-site research visits to thoroughly understand the company’s industrial structure, production model, and financial needs. Over the years, tailored to the project’s various construction phases, IB’s Chenggong Branch provided a credit support of RMB 1.48 billion to the company. By devising a tailored interest rate reduction and loan issuance plan that suited the company’s actual circumstances, the Bank significantly reduced the company’s financing costs, injecting “vitality” into its development.
"We are grateful for the professional and efficient comprehensive financial services provided by your bank during times of market change and operational challenges faced by our company. Particularly in January 2024, your team worked tirelessly overnight to process our loan, demonstrating admirable dedication and teamwork. Your full support helped us alleviate disputes with suppliers and offered valuable assistance in accelerating our project construction, technological upgrades, market expansion, and brand building, bolstering our company's development confidence," expressed Qin Mingfei, General Manager of Yunnan Youtian New Energy Technology Co., Ltd., during the discussion.
Serving Yunnan Youtian New Energy Technology Co., Ltd. reflects just a snippet of IB’s commitment to green financial services for private enterprises. As a leader in China’s green finance, guided by Xi Jinping’s ecological civilization concepts, IB has strategically advanced its initiatives, leveraging the momentum to play a “pioneering role” in green finance. This aligns with the Bank’s mission to continuously polish its “Green Banking” brand and contribute to the green and low-carbon transformation of the economy and society. For five consecutive years, IB has been awarded the highest domestic banking ESG rating by MSCI. By the end of 2023, IB’s green finance financing increased by 17% year-on-year to RMB 1.89 trillion, with green loans growing 27% to RMB 810.3 billion.
Green is not only a hallmark of IB but also its foundation. Embracing the 75th anniversary of the founding of the People’s Republic of China, IB is committed to deeply studying and implementing the spirit of the Central Financial Work Conference, embracing the new development concepts, and vigorously promoting green development. The Bank continues to leverage its green finance strengths, integrating its efforts in green finance with the mission of building a “Beautiful China,” and is dedicated to scripting a new chapter in China’s characteristic financial development journey with the power of finance.