第三方物流企业供应链金融服务研究
——基于顺丰公司案例
研究生姓名：羊丹妮导师姓名：刘澈元
学科：金融研究方向：金融市场与投资年级：2020
中文摘要
目前我国中小企业普遍面临着融资难、融资贵的问题。供应链金融服务的出现为解
决我国中小企业融资问题提供了一个新的路径。起初在供应链金融业务的进展中，第三
方物流企业大多只是辅助商业银行等金融机构开展各项业务。但随着互联网技术的突飞
猛进，其中一些物流巨头企业凭借其雄厚的资产实力、先进的信息管理体系、规范的业
务运营模式，开始开展以第三方物流企业为主导的供应链金融服务。本文通过研究顺丰
公司供应链金融服务的案例，了解顺丰公司作为核心企业开展各项供应链金融业务的经
历，为其他企业开展供应链金融服务提供参考和借鉴。
顺丰公司是我国物流行业的龙头之一，它拥有明确的品牌定位、极具综合性的物流
服务网络以及稳健的盈利能力。在此基础上顺丰公司开始涉足于供应链金融领域，先通
过发挥自身优势积累客户资源，再创建供应链金融服务专业团队，同时也尝试推出金融
融资产品。此外顺丰公司还积极与各银行等金融机构以及供应链平台展开合作。在经过
多年的探索和发展后，顺丰公司供应链金融模式可初步概括为仓储融资模式、保理融资
模式、订单融资模式和顺小贷模式。
顺丰公司供应链金融服务的对象是具有较大发展潜力的中小型企业，业务进程中资
金闭环使用，在广泛运用了大数据的同时打造了供应链金融生态系统。并且顺丰公司凭
借它良好的经营情况、广泛的供应链业务以及持续的科技创新投入，在第三方物流企业
发展供应链金融的领域中处于优势地位。但机遇总是和风险并存。由于目前我国大多数
领域供应链金融都是处于初级阶段，还存在着风控机制不完善、资金来源受限、创新力
不足、专业人才短缺等问题，使得顺丰公司的供应链金融服务还需要从多方面进行改进。
对顺丰公司供应链金融服务改进的方向主要从顺丰公司自身和政府单位两个层面
出发。顺丰公司需要在完善其风险控制体系、不断挖掘潜在客户、建立共享信息数据库、
扩大资金来源、注重人才培养和科技发展以及发展特色业务上持续发力，让顺丰公司能
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够继续带领物流行业推进供应链金融业务的稳步前进。其次也希望政府能在出台政策、
加快法律法规建设和完善征信体系上为我国供应链金融建设助力。
以顺丰公司为例的第三方物流企业的供应链金融服务案例给其他有意愿大力发展
供应链金融服务的物流企业提供了思路和参考，但在供应链金融业务开展的过程中一定
要充分结合自身实际，再不断开拓创新，这样才能达到多方共赢的效果，为解决我国中
小企业的融资问题贡献一份力量。
关键词：第三方物流企业；供应链金融；顺丰公司
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Research on Supply Chain Financial Services of Third-party
Logistics Enterprises
—— Based on the Case of SF Company
Graduate Student:Yang Danni
Supervisor:Liu Cheyuan
Major:Finance
Research Direction: Financial market and investment
Grade:2020
Abstract
At present, China's small and medium-sized enterprises are generally facing the
problems of difficult and expensive financing. The emergence of supply chain financial
services provides a new way to solve the financing problems of small and medium-sized
enterprises in China. At first, in the progress of supply chain financial business, most
third-party logistics enterprises only assisted commercial banks and other financial
institutions to carry out various businesses. However, with the rapid development of Internet
technology, some logistics giants began to carry out supply chain financial services led by
third-party logistics enterprises with their strong asset strength, advanced information
management system and standardized business operation mode. By studying the case of SF
company's supply chain financial services, this paper understands the experience of SF
company in carrying out various supply chain financial services as a core enterprise, so as to
provide reference for other enterprises to carry out supply chain financial services.
SF company is one of the leaders in China's logistics industry. It has a clear brand
positioning, a highly comprehensive logistics service network and steady profitability. On this
basis, SF began to get involved in the field of supply chain finance. First, it accumulated
customer resources by giving full play to its own advantages, then created a professional team
of supply chain financial services, and also tried to launch financial financing products. In
addition, SF also actively cooperates with financial institutions such as banks and supply
chain platforms. After years of exploration and development, the supply chain finance mode
of SF company can be preliminarily summarized as warehousing financing mode, factoring
financing mode, order financing mode and Shun small loan mode.
SF's supply chain financial services are aimed at small and medium-sized enterprises
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