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 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%. 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.
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.
View original content:https://www.prnewswire.co.uk/news-releases/lianlian-digitech-publishes-2023-annual-report-302139120.html
