#China #Hangzhou #Fintech Solutions #Lianlian DigiTech #Digital Payment

Lianlian DigiTech Reports Significant Growth in Digital Payment TPV for 2024

In a remarkable financial disclosure, Lianlian DigiTech, a prominent player in the digital payments and fintech sector, has announced an impressive 64.7% surge in its total payment volume (TPV) for the digital payment segment in 2024. This announcement was made on March 18, 2025, as the company revealed its annual fiscal results, showcasing not only growth in volume but also a considerable increase in profits.

As of December 31, 2024, Lianlian’s TPV reached a staggering RMB 3.3 trillion. This year-on-year growth is complemented by a significant increase in client engagement, which has expanded to 5.9 million customers. The company's revenue surged by 27.9% to reach RMB 1.315 billion, with gross profit climbing 18.2% to RMB 683 million, maintaining a healthy gross margin of 51.9%.

A Strategic Transformation

The transformative year of 2024 has been critical for Lianlian DigiTech, marked by its successful Initial Public Offering (IPO) in Hong Kong and a turnaround in financial performance that included an adjusted net income of RMB 78.7 million compared to a loss of RMB 403 million in 2023. Executive Director and CEO Xin Jie emphasized that their strategic investments in licensing, compliance, and customer acquisition have been pivotal in scaling their operations on an international level.

Underpinning this success is Lianlian’s commitment to leveraging cutting-edge technologies such as artificial intelligence and blockchain. These innovations are designed to enhance their operations, streamline customer success, and optimize resource allocation strategically.

CFO Wei Ping noted that consistent revenue progression highlights their successful diversification across emerging business avenues, reflecting strong demand and discipline in capital allocation. This strategic focus, combined with their partnership with American Express, has fortified Lianlian’s capital structure, facilitating future growth prospects.

Expanding Domestic and Global Markets

Part of what fueled this growth is Lianlian’s strong domestic performance. The company recorded a 64.9% increase in domestic payment TPV, totaling RMB 3 trillion, with revenue rising 57.1% to RMB 343 million. Such achievements are attributed to the company's integrated strategies and strong connections in both domestic and cross-border markets. Their enhanced offerings include bespoke digital marketing tools and enterprise-grade wallets, broadening the service portfolio for clients aiming at both digital transformation and international expansion.

Lianlian’s ambitious global licensing strategy has also played a crucial role, leading to a 63.1% increase in global payment TPV, which hit RMB 281.5 billion by the end of 2024. This impressive rise is a product of their robust emphasis on compliance and connectivity within international trade systems, facilitating efficient trade flows.

Driving Innovation through Technology

Lianlian DigiTech’s commitment to technological innovation is evident in its research and development investments, which amounted to RMB 319 million in 2024—up by 19% from the previous year. This investment focus underscores their intent to advance product offerings through technologies like AI, big data, and blockchain. Notably, the integration of their LOOP AI system enables merchants to better engage with customers through personalized and intelligent interactions, enhancing product visibility and conversion rates across major platforms.

Additionally, the company’s emphasis on small and micro businesses has unlocked growth potential within underserved sectors, establishing Lianlian as a leader in payment solutions. Their broad strategic initiatives are set against the backdrop of the Chinese government's 2025 economic objectives, which aim to stabilize foreign trade and support cross-border e-commerce.

As Lianlian DigiTech accelerates its global strategy, it continues to prioritize the optimization of its service capabilities, after strengthening ties with critical supply chain partners and enhancing payment solution offerings.

In conclusion, the stellar growth reported by Lianlian DigiTech is a compelling testament to effective strategizing in fintech. By maintaining a dual approach of innovation and commitment to service excellence, the company is set to lead in the ever-evolving digital payment landscape.