Total Payment Volume (TPV) Surged by 74% to
RMB2 Trillion
Revenue
Increased Significantly by 38%
Adjusted Earning of Core
Business was RMB16
Million,
with Dramatic Turnaround in
Operating Cash Flow
HONG
KONG, May 8, 2024 /PRNewswire/ --
Lianlian DigiTech Co., Ltd. ("Lianlian DigiTech" or the
"Company", HKEX: 2598), a leader in China digital payment solution market and
global commerce digitalization, today published its 2023 Annual
Report. In 2023, the Company's total revenue amounted to
RMB1.030 billion, a year-on-year
growth of 38%. The gross profit margin remained at a high level of
56%. Lianlian DigiTech's own non-GAAP earning amounted to
RMB16 million for the year. The
Company has registered a significant turnaround to positive
operating cash flow of approximately RMB95
million.
With Continuous Optimization of Business Structure, Revenue
from Core Businesses Increased Significantly Year on Year
With years of accumulated global license acquisition, strong
customer base, and solid product capabilities, Lianlian DigiTech's
core businesses registered growth in 2023. In 2023, the revenue of
digital payment services, which accounts for more than 80% of the
Company's total revenue, increased by 39% to RMB870 million. The total payment volume ("TPV")
of the Company's digital payment services also surged by 74%
year-on-year to RMB2 trillion. Among
the Company's digital payment services, the global payment revenue
grew by 37% to RMB660 million. The
domestic payment revenue increased by 44% to RMB220 million. The value-added services revenue
increased by 47% to RMB130 million,
and the value-added services emerged as a new growth highlight for
the Company.
Number of Active Customers Increased by Over 51% to 1.3
Million, Highlighting the Advantages of One-Stop Service
As of December 31, 2023, Lianlian
DigiTech's global license layout consists of 64 payment licenses
and relevant qualifications, covering seven major markets,
namely Hong Kong SAR, Mainland
China, Singapore,
the United States, the
United Kingdom, Thailand, and Indonesia. The Company serves over 100
countries and regions and manages transactions in over 130
currencies.
In 2023, the number of active customers Lianlian DigiTech served
reached 1.3 million, a year-on-year growth of 51%. Meanwhile, the
Company has developed and provided comprehensive solutions for
merchants and enterprises in China
and around the world. The Company is dedicated to building a close
partnership with the essential players in the e-commerce ecosystem.
Lianlian DigiTech has created diverse digital payment application
scenarios to provide various customer types, including cross-border
e-commerce customers, platform and institutional customers, foreign
trade customers, and overseas education institutions with one-stop,
comprehensive digital solutions.
For platform and institutional customers, Lianlian DigiTech
created an integrated one-stop payment experience to enable
customers to access Lianlian's global payment network with a single
connection, significantly improving efficiency. For foreign trade
customers, Lianlian DigiTech leveraged a combination of
system-based and manual review to accelerate the review of
transaction backgrounds for customers, effectively controlling
risks and continuously improving customer experience. For overseas
education institutions, Lianlian DigiTech collaborated with card
organizations like Visa, Mastercard, and American Express to
provide card payment services for overseas education
institutions.
Looking ahead, Lianlian DigiTech is poised to seize the
potential of global trade and the opportunities presented by the
digitalization and globalization of Chinese enterprises. The
Company will broaden its international reach, with particular
emphasis on markets in Southeast
Asia, the Middle East, and
Latin America. Meanwhile, Lianlian
DigiTech will continue to refine its technological capabilities,
innovate relentlessly, and incorporate cutting-edge technologies in
digital payments and fintech, elevating its service capabilities to
meet the needs of customers across the globe.
About Lianlian
DigiTech
Lianlian DigiTech Technology Co., Ltd. ("Lianlian DigiTech") was
founded in 2009. As a a leader in China digital payment solution market and an
enabler of global commerce digitalization, Lianlian DigiTech
leverages the global payment network built upon global license
layout, proprietary technology platform and extensive network of
partners to provide a full suite of digital payment services and
value-added services to customers in China and around the world. The digital
payment services include pay-in, pay-out, acquiring, foreign
exchange, virtual card and payment aggregation. The value-added
services include digital marketing, operation support, referral
services, account and e-wallet services, and software development
services.
As of December 31, 2023, Lianlian
DigiTech had built a global license layout consisting of 64 payment
licenses and relevant qualifications. Lianlian DigiTech's business
covers a digitally integrated ecosystem of global payments and
services, bank card clearing, and other services. The Company
served merchants and enterprises from various industries, including
trade, e-commerce, retail, travel, logistics, education, real
estate and manufacturing, with services covering more than 100
countries and regions, and supporting transactions in over 130
currencies.
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SOURCE Lianlian