In recent years, as the economy has entered a downturn, global investment and financing have also begun to tighten.

Taking Southeast Asia as an example, the number and amount of financing transactions in Southeast Asia have dropped to a six-year low in 2023, and 88% of investors feel that they are facing a more difficult exit environment.

In this situation, more and more Chinese manufacturing companies going abroad are facing a headache - how to solve the funding problem overseas?

In the past two years, China's new energy vehicles going global has become a topic of public concern. But what few people know is that many Chinese car companies have also started the process of overseas layout before, but unfortunately went bankrupt due to financial difficulties overseas. Finoba, a German subsidiary of China National Machinery Industry Corporation, is a regrettable example.


In June 2016, China Automotive Industry Engineering Co., Ltd., a subsidiary of China National Machinery Industry Corporation, established a wholly-owned subsidiary, Finoba Bavaria (abbreviated as "Finoba Company"), in Germany, embarking on an overseas development journey.

Finoba's main business is designing and manufacturing production lines for European automotive OEMs, as well as marketing and executing general contracting projects. At one point, it undertook and bid for engineering projects from car companies such as Daimler, Volkswagen, Opel, and Tesla. Bidding means that a large amount of project reserve funds are needed. However, under the global pandemic, major European automobile factories have completely shut down, and the business of supporting component manufacturers has also begun to stagnate, leading to enormous pressure on Finoba's liquidity. However, due to the severe shortage of financial services provided by Chinese financial institutions for overseas financing of overseas enterprises, coupled with the lack of understanding of the actual business situation of overseas entities and the financial strength of domestic entities by overseas banks, there may be hesitation in granting credit. Making Finoba's financing very difficult.


In September 2020, the overwhelmed Finoba company finally entered bankruptcy proceedings. To this day, this bankruptcy matter is still being processed.

In fact, Finoba is not an isolated case. This is a common challenge faced by all overseas enterprises - how can Chinese companies in different places solve their financial difficulties in the face of global financing difficulties?

In the past, only a small number of overseas enterprises could complete overseas financing through local bank loans, obtaining VC support, and other means. Today, another approach has opened up new avenues for corporate financing - RWA, a real-world asset.

On August 23, 2024, A-share listed company Langxin Technology collaborated with Ant Group to complete the first domestic RWA based on new energy physical assets in Hong Kong, with an amount of approximately RMB 100 million.

This complex statement can be explained in another sentence: Langxin Technology raised 100 million yuan through RWA issued by Ant Group.


Although the event may be small, its significance is significant. This means that even across regions and borders, traditional enterprises can still achieve remote credit and financing through digital assets corresponding to physical assets, "proving their value".