Recently, Ningbo Grain and Oil Duoduo E-commerce Co., Ltd. (hereinafter referred to as"LYDD") successfully obtained the first agricultural product import prepayment insurance policy in Zhejiang Province issued by China Export & Credit Insurance Corporation (hereinafter referred to as "Sinosure"), providing credit risk protection for the company's $10 million import prepayment. This marks the extension of policy insurance from traditional "export support" to "import empowerment," injecting a "boost" into LYDD's cross-border procurement business.

As a core subsidiary of the leading domestic industrial internet platform IBI, LYDD focuses on cross-border procurement of bulk agricultural products, importing palm oil, peanuts, sesame, and other agricultural products from regions such as Southeast Asia, South America, Central Asia, and Africa, with an annual import volume exceeding tens of millions of dollars. However, as the scale of imports continues to expand, risks also follow closely: bulk agricultural products generally adoptthe "payment before delivery" settlement method, tying up a large amount of working capital;the political instability in source countries, frequent adjustments in export policies, and occasional supply chain disruptions;the limited understanding of overseas suppliers' operations by enterprises, and the risk of prepayments"being unrecoverable" hangs like a "sword of Damocles," putting significant pressure on the stability of the company's import business.

After gaining an in-depth understanding of LYDD's business model and risk control pain points, Sinosure's Ningbo branch tailored this insurance solution for us. On one hand, it assisted in optimizing contract terms, improving accounts receivable management systems, and screening high-quality partners through its global credit network to control risks at the source; on the other hand, the policy explicitly covers prepayment losses caused by foreign suppliers' bankruptcy, defaults, as well as wars, turmoil, government expropriation, and foreign exchange restrictions in the import source countries, building a solid financial safety net for us.

The successful implementation of this policy highlights the empowerment of policy insurance, which will significantly enhance the company's bargaining power in the international agricultural product market and the resilience of its supply chain, providing strong support for continuously expanding import scale and optimizing global procurement layout. In the future, LYDD will continue to collaborate with Sinosure to explore innovations in broader agricultural import and export fields, advancing towards the world with more stable steps.