Lianlian DigiTech Reports RMB 3.3 Trillion Payment Volume for 2024, Surging by 64.7% Year-on-Year

Lianlian DigiTech: Leading the Charge in Digital Payment Solutions

Lianlian DigiTech Co. (HKEX: 2598) has unveiled astonishing results for 2024, showcasing a remarkable increase in its total payment volume (TPV) that reached a staggering RMB 3.3 trillion. This marks an impressive growth of 64.7% compared to the previous year, underscoring Lianlian's dominant position in the competitive landscape of digital payment solutions.

The financial year also brought forth significant revenue figures. Lianlian reported total revenues of RMB 1.32 billion, which translates to a growth of 27.9%. Notably, revenue generated solely from digital payment services was RMB 1.15 billion—a 31.6% increase. These figures indicate that Lianlian's strategies are paying dividends as they expand their digital payment offerings.

Xin Jie, the CEO of Lianlian DigiTech, highlighted the pivotal nature of 2024, marking the company's inaugural year as a publicly traded entity on the Hong Kong Stock Exchange (HKEX). He proudly noted, "We successfully secured a Luxembourg Electronic Money Institution (EMI) license and received a Virtual Asset Trading Platform (VATP) license from the Securities and Futures Commission of Hong Kong for our subsidiary, DFX Labs Company Limited." With these robust licenses in hand, Lianlian DigiTech is poised to leverage groundbreaking technologies such as artificial intelligence and blockchain.

Reflecting on the company’s performance, Jie expressed optimism about the future, stating, "We aim to provide an exceptional service experience for our customers while driving efficiency and delivering better returns for our shareholders."

Global Payment Activities

The company’s global payment services exhibited significant growth, achieving a TPV of RMB 281.5 billion, up 63.1% year-on-year. Additionally, global payment activities generated total revenue of RMB 808 million, reflecting a year-on-year increase of 23.1%. By the end of 2024, Lianlian DigiTech had served over 5.9 million customers, highlighting its extensive reach and expansion in digital transactions.

Lianlian's successful domestic and international business model has catalyzed effective growth in its domestic payment activities as well. The domestic TPV reached RMB 3.0 trillion, showcasing a commendable increase of 64.9%. Revenue from these activities clocked in at RMB 343 million, which is a 57.1% year-on-year rise. Moreover, the service sector generated RMB 146 million in revenue, marking a 9.5% increase as well.

Lianlian DigiTech's commitment to fostering digital transformation and supporting globalization efforts for enterprises is evident through their innovative strategies and the introduction of groundbreaking products, such as digital marketing solutions and business wallets. The integration of advanced AI technology and continuous refinement of product capabilities are central to enhancing user experiences and operational efficiency.

CFO Wei Ping commented on their balanced growth strategy, emphasizing investment in new ventures, technologies, and licenses, while also maintaining financial discipline and cost management practices. "We will continue to fortify our global licensing portfolio, strengthen partnerships within our value chain, and steadily increase investments in technological advancements and differentiated products," Ping stated confidently.

As Lianlian DigiTech forges ahead, it remains clear that the company is not just a participant in the digital payment arena but a leader committed to innovation and excellence in service delivery. With a future that appears bright and full of potential, Lianlian is positioned to capitalize on the growing demand for digital payment solutions across both domestic and global markets.

Conclusion

2024 has marked a significant milestone for Lianlian DigiTech, establishing it as a major player in the digital economy and a key contributor to the modernization of payment processing. Stakeholders and customers alike can expect continued growth as the company navigates the evolving landscape of digital finance.