Group 1 - The digital currency sector experienced a decline of 2.40%, ranking among the top losers in the concept sector, with companies like Jida Zhengyuan, Cuiwei Co., and *ST Rindong hitting the daily limit down [1][2] - Major outflows of capital from the digital currency sector amounted to 7.702 billion yuan, with 76 stocks experiencing net outflows, and 22 stocks seeing outflows exceeding 100 million yuan [2][3] - The top three companies with the highest net outflows were Sifang Jingchuang (7.31 billion yuan), Hengsheng Electronics (6.59 billion yuan), and Cuiwei Co. (6.07 billion yuan) [2][3] Group 2 - Among the digital currency stocks, Sifang Jingchuang saw a significant drop of 9.55%, while Cuiwei Co. fell by 9.97% [3][4] - Conversely, stocks such as Sanwei Xinan, Xinghui Entertainment, and ST Zhengtong showed positive performance, with increases of 5.14%, 4.96%, and 4.24% respectively [1][4] - The overall market sentiment reflected a negative trend in the digital currency sector, with a majority of stocks experiencing declines [2][3]

股 票 代 码 ：3 0 0 7 7 3 . S Z 拉卡拉支付股份有限公司 年度 环境、社会及公司治理（ESG）报告 拉卡拉 环境、社会及公司治理（ESG）报告 关于我们 | 公司简介 | | --- | | 企业文化 | | 聚焦2024 | | 可持续发展理念 | 03 | | --- | --- | | 可持续发展管理架构 | 03 | | 利益相关方沟通 | 04 | | 实质性议题分析 | 04 | 可持续发展管理 深化技术创新应用， 持续提升支付便利性 专题篇 | 融通全球支付，跨境消费便捷无忧 | 05 | | --- | --- | | 聚焦文旅场景，数字技术深度赋能 | 06 | 打造可持续发展职场 | 维护员工权益 | | --- | | 人才吸引与发展 | | 员工福利与关怀 | 共享可持续发展未来 | 绿色运营 | | --- | | 推动产业链绿色发展 | | 维护公共安全 | | 投身社会公益 | 筑牢可持续发展基石 关键绩效表 | 公司治理 | 34 | | --- | --- | | 数据安全与隐私保护 | 35 | | 合规经营 | 37 | | 风险管理 | 39 | | ...

拉卡拉支付股份有限公司 第四届董事会第六次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、董事会会议召开情况 2025 年 6 月 30 日，拉卡拉支付股份有限公司（以下简称"公司"）第四届董事会第六 次会议以通讯方式召开。本次会议以临时会议方式召集与召开，会议通知已于 2025 年 6 月 27 日以邮件方式送达公司全体董事。会议应出席董事 7 人，实际出席会议董事 7 人。会议 由董事长孙陶然先生主持。本次会议的召集和召开程序符合《公司法》等法律、法规和《公 司章程》的规定。 证券代码：300773 证券简称：拉卡拉 公告编号：2025-036 表决结果：全部董事表决结果为 7 票赞成，0 票弃权，0 票反对。 内容详见公司同日在中国证监会指定的信息披露网站巨潮资讯网（www.cninfo.com.cn） 披露的《2024 年度环境、社会和公司治理（ESG）报告》。 三、备查文件 1、第四届董事会第六次会议决议。 特此公告。 拉卡拉支付股份有限公司董事会 2025 年 6 月 30 日 1 二、董事会会议审议情况 与会董事认真审议并通过了 ...

Core Viewpoint - The recent shareholding changes in Lakala, particularly the reduction of Lenovo's stake, are significant as the company prepares for an H-share IPO in Hong Kong, aiming to enhance its international strategy and capitalize on the growing interest in stablecoins [1][3]. Group 1: Shareholding Changes - Lenovo's stake in Lakala has decreased from 26.54% to 23.54%, maintaining its position as the largest institutional shareholder [1][2]. - Since Lakala's A-share listing in April 2019, Lenovo's shareholding has consistently declined from 31.38% prior to the IPO to 28.24% [2]. - Other significant shareholders include individual investor Sun Taoran, holding 6.91%, and Sun Haoran, who plans to reduce his stake by up to 1,927,090 shares, representing 2.45% of the total share capital [2]. Group 2: IPO Plans and Market Strategy - Lakala announced plans for an H-share IPO on June 16, aiming to advance its international strategy and enhance the application of digital currency in cross-border scenarios [3]. - The reduction in Lenovo's stake may be a strategic move to avoid regulatory scrutiny regarding single shareholder dominance and to create more space for share allocation during the H-share issuance [3]. - Analysts suggest that the shareholder reductions are not directly linked to the H-share IPO but may reflect concerns about Lakala's future growth potential and recent performance [3][4]. Group 3: Financial Performance and Market Sentiment - Lakala's financial performance has shown a decline, with Q1 2025 revenue at 1.299 billion yuan, down 13.01% year-over-year, and net profit down 51.71% to 101 million yuan [4]. - The company's stock price has been buoyed by the hype around stablecoins, reaching 32.39 yuan per share as of June 27, but the ongoing shareholder reductions may negatively impact investor confidence [4][5]. - Analysts emphasize the need for Lakala to diversify its revenue streams and strengthen its core business to improve market perception and support its IPO ambitions [5].

Market Performance - The cross-border payment (CIPS) concept declined by 1.95%, ranking among the top decliners in the concept sector [1] - Major decliners in the CIPS sector included Xiaogoods City, Jida Zhengyuan, and Xincheng Technology, while top gainers were Donghua Software, Jingbeifang, and *ST Rendo, with increases of 4.28%, 2.40%, and 2.34% respectively [1] Capital Flow - The CIPS concept experienced a net outflow of 6.149 billion yuan, with 47 stocks seeing net outflows, and 21 stocks exceeding 100 million yuan in net outflows [1] - Agricultural Bank led the net outflow with 759.39 million yuan, followed by Lakala, Xiaogoods City, and Industrial and Commercial Bank with outflows of 588.37 million yuan, 563.46 million yuan, and 485.34 million yuan respectively [1] Top Gainers and Losers - The top gainers in the CIPS sector included Donghua Software with a 4.28% increase, while the largest loser was Xiaogoods City with a 9.89% decrease [1] - Other notable losers included Agricultural Bank (-3.29%), Industrial and Commercial Bank (-2.85%), and Lakala (-2.44%) [2]

Group 1 - The company, Lakala, is in deep discussions with Ant International regarding collaboration in wallet network acceptance and global acquiring services [1]

Group 1 - The core viewpoint of the article highlights Lakala's extensive cross-border payment network, which covers over 100 countries globally, providing tailored and integrated cross-border payment solutions for Chinese brands [1] - In 2024, the company expects to serve over 120,000 clients in its cross-border payment business, representing a year-on-year growth of 80% [1] - The transaction amount for cross-border payments is projected to reach 49.2 billion yuan in 2024, showing a year-on-year increase of 14% [1] Group 2 - In the first quarter of 2025, the company reported a year-on-year growth of 76% in the number of cross-border merchants and an 85% increase in cross-border payment transaction amounts [1]

Core Viewpoint - Ant Group concept stocks experienced a rise of 2.97%, ranking 8th among concept sectors, with 69 stocks increasing in value [1] Group 1: Market Performance - The top-performing stocks within the Ant Group concept include: - Cuili Co., Ltd. with a limit-up increase of 10.03% - Hang Seng Electronics rising by 7.34% - Newland Technology increasing by 7.33% [1][2] - The stocks with the largest declines include: - Annie Co., Ltd. down by 3.98% - GCL-Poly Energy Holdings down by 0.78% - ST Yilianzhong down by 0.48% [1][2] Group 2: Capital Flow - The Ant Group concept saw a net inflow of 2.082 billion yuan, with 51 stocks receiving net inflows, and 9 stocks exceeding 100 million yuan in net inflow [2] - The leading stock in terms of net inflow was Hang Seng Electronics, with a net inflow of 420 million yuan, followed by Cuili Co., Ltd. with 268 million yuan and Lakala with 220 million yuan [2][3] Group 3: Capital Inflow Ratios - The stocks with the highest net inflow ratios include: - Jida Zhengyuan at 45.28% - Shibei Gaoxin at 35.24% - Yong'an Xing at 30.50% [3][4]

Core Viewpoint - Lakala's stock price surged by 46% in less than 20 trading days, driven by speculation around stablecoin licenses, despite a significant decline in net profit and payment transaction volume [1][3]. Company Overview - Lakala, established in 2011, is a third-party payment institution with over 80% of its revenue coming from payment processing services, aiming to create a merchant ecosystem through transaction sharing and value-added services [1][3]. - The company is currently focusing on transforming its business model towards SaaS solutions, providing tools for various industries [3][8]. Financial Performance - In Q1 2025, Lakala's net profit halved year-on-year, with payment transaction volume decreasing by 10.51% [1][3]. - For 2024, the total payment transaction amount was 4.22 trillion yuan, down from 4.51 trillion yuan in 2023, primarily due to a sharp decline in card transactions [3][5]. - Digital payment revenue for 2024 was 5.165 billion yuan, a slight decrease of 0.27%, with a gross margin of 27.22% [5]. Challenges in Business Segments - The cross-border payment business remains a significant shortcoming, with transaction volume only reaching 49.2 billion yuan in 2024, despite a 14% year-on-year increase [6]. - Lakala's technology service revenue fell by 18.43% in 2024, with a notable decline in credit card marketing services [8][9]. Investment and Financial Risks - Lakala faced substantial investment losses, including a 68 million yuan loss from an investment in a joint venture, contributing to the decline in net profit [9][10]. - The company has also been impacted by bad debt losses, with a total of 58 million yuan in credit impairment losses in 2024, indicating increasing risks in accounts receivable [10].

Group 1 - The core viewpoint of the articles highlights the strong performance of the technology sector, particularly in stablecoins, with significant interest from brokerage firms and a surge in related stocks [1] - The financial technology ETF Huaxia (516100) rose by 3.04%, with key holdings such as Zhongke Jincai and Shenzhou Information hitting the daily limit, indicating robust market activity in this sector [1][2] - Recent reports indicate that at least 16 brokerage firms published 24 research reports on stablecoins, and over 30 themed conference calls were held in the past two weeks, covering various aspects such as policy interpretation and investment strategies [1] Group 2 - Stablecoins are defined as cryptocurrencies pegged to stable assets like fiat currencies or commodities, enhancing payment efficiency and asset liquidity while promoting financial innovation [1] - Huaxi Securities notes that stablecoins possess characteristics such as asset anchoring, low volatility, and high settlement efficiency, positioning them as important tools for on-chain payments and cross-border settlements [1] - The current period is critical for the development of stablecoins, with accelerating regulatory trials and legislative processes pushing them from a gray area towards institutionalized growth, potentially leading to a diverse ecosystem of stablecoins [1]