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Tuesday, June 18, 2024

Lianlian DigiTech’s 2023 Annual Report Released

Lianlian DigiTech Co., Ltd., a leading company in the China digital payment solution market, recently released its 2023 Annual Report highlighting impressive growth and financial results. In 2023, the company’s Total Payment Volume (TPV) surged by 74% to RMB2 trillion, while revenue increased by 38% to RMB1.030 billion. Additionally, the adjusted earnings of the core business reached RMB16 million, showcasing a dramatic turnaround in operating cash flow.

One of the key factors contributing to Lianlian DigiTech’s success is the continuous optimization of its business structure. Revenue from core businesses saw significant year-on-year growth, with digital payment services revenue increasing by 39% to RMB870 million. The global payment revenue grew by 37% to RMB660 million, domestic payment revenue increased by 44% to RMB220 million, and value-added services revenue rose by 47% to RMB130 million. This diversification in revenue streams has positioned the value-added services as a new growth highlight for the company.

Furthermore, the number of active customers served by Lianlian DigiTech increased by over 51% to 1.3 million in 2023. The company’s global license layout covers seven major markets, allowing it to serve customers in over 100 countries and regions and manage transactions in over 130 currencies. By providing one-stop, comprehensive digital solutions for a diverse range of customer types, including cross-border e-commerce customers, platform and institutional customers, foreign trade customers, and overseas education institutions, Lianlian DigiTech has established itself as a leader in the industry.

Looking ahead, Lianlian DigiTech is positioned to take advantage of the potential of global trade and the opportunities presented by the digitalization and globalization of Chinese enterprises. With a strong foundation built on financial growth, operational efficiency, and customer satisfaction, the company is well-equipped to continue its success in the digital payment solution market.

Overall, Lianlian DigiTech’s 2023 Annual Report showcases the company’s impressive performance and solid growth trajectory. By focusing on core businesses, diversifying revenue streams, and prioritizing customer satisfaction, Lianlian DigiTech has positioned itself as a leader in the industry and a key player in the digital payment solution market.

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