Business
Lianlian DigiTech Achieves RMB3.3 Trillion in Total Payment Volume for 2024, Marking a 64.7% Year-on-Year Increase
Lianlian DigiTech Co., Ltd. (HKEX: 2598), a leader in China's digital payment solution market and global commerce digitalization, announced its 2024 results. The company's digital payment business achieved a total payment volume (TPV) of RMB3.3 trillion, a 64.7% year-on-year increase. Total revenue reached RMB1.32 billion, up 27.9%, with digital payment revenue at RMB1.15 billion (31.6% growth). Gross profit was RMB683 million (51.9% margin), and adjusted profit hit RMB78.7 million, a sharp turn
About this update from Lianlian Digitech Co., Ltd. Class H
[{"type":"text","content":"HANGZHOU, China, March 19, 2025 /PRNewswire/ -- Lianlian DigiTech Co., Ltd. (HKEX: 2598), a leader in China's digital payment solution market and global commerce digitalization, announced its 2024 results. The company's digital payment business achieved a total payment volume (TPV) of RMB3.3 trillion, a 64.7% year-on-year increase. Total revenue reached RMB1.32 billion, up 27.9%, with digital payment revenue at RMB1.15 billion (31.6% growth). Gross profit was RMB683 million (51.9% margin), and adjusted profit hit RMB78.7 million, a sharp turnaround from a loss in 2023.","length":588,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Lianlian DigiTech,LianLian Pay)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Lianlian DigiTech,LianLian Pay)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":300,"url":"https://media.zenfs.com/en/prnewswire.com/91a24f921dce246404907ed7ad02e1bb"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/_CQO29fgLLNUvAStDXzxvw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTUyOTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/91a24f921dce246404907ed7ad02e1bb","width":400,"height":300}},"href":"https://mma.prnewswire.com/media/2645395/1.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Xin Jie, CEO of Lianlian DigiTech, commented, "2024 marked our first year as a listed company on HKEX. In the year, we successfully obtained a Luxembourg Electronic Money Institution (EMI) License, and our subsidiary, DFX Labs Company Limited, obtained a virtual asset trading platform (VATP) license from the Securities and Futures Commission of Hong Kong. Leveraging our robust licensing portfolio, we are deploying cutting-edge technologies like AI and blockchain. Looking ahead, we are confident in our ability to create a superior service experience for customers, improve efficiency, and generate better investment returns for shareholders."","length":657,"tagName":"p"},{"type":"text","content":"During the period, the company's global payment business saw significant growth, with TPV reaching RMB 281.5 billion, up 63.1% year-on-year. Total revenue from the global payment business also increased to RMB 808 million, a 23.1% year-on-year increase. By the end of 2024, Lianlian DigiTech has served a cumulative total of over 5.9 million customers.","l...