证券代码：300773 证券简称：拉卡拉 拉卡拉支付股份公司投资者关系活动记录表 编号：20200220001 | --- | --- | --- | --- | --- | |--------------|-----------------------------------------------|--------|----------------------------------|-------| | | | | | | | 投资者关系 | ☑ | | 特定对象调研 □分析师会议 | | | 活动类别 | □ 媒体采访 □业绩说明会 □ 新闻发布会 □路演活动 | | | | | | □ 现场参观 | | | | | | | | □其他 （请文字说明其他活动内容） | | | 参与单位名称 | 中银基金 刘腾 | | | | | 及人员姓名 | 中银基金 王嘉琦 | | | | | | 广发资管 余婧薇 | | | | | | 广发证券 王奇珏 | | | | | | 汇丰晋信 李凡 | | | | | | 浙江英睿投资管理有限公司 徐春来 | | | | | | 易方达：胡云峰 何一铖 陈皓 于博 ...

证券代码：300773 证券简称：拉卡拉 编号：20200225001 投资者关系 ☑特定对象调研 □分析师会议 活动类别 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 （请文字说明其他活动内容） 拉卡拉支付股份公司投资者关系活动记录表 | --- | --- | --- | --- | |--------------|--------|----------------------------|----------------------| | 参与单位名称 | 姓名 | 公司 | 职位 | | 及人员姓名 | 徐炜轩 | 博时基金 | 投资经理 | | | 龚咏泉 | 中植资本管理有限公司 | 机构融资部执行总经理 | | | 刘博 | 平安资产管理有限责任公司 | 投资经理 | | | 肖丹晨 | 中信建投证券 | VP | | | 孙洲 | 远策投资 | 投资经理 | | | 何子为 | 建信人寿保险有限公司 | 研究员 | | | 郭东谋 | 南方基金 | 投资经理 | | | 钟思怡 | 国泰基金管理有限公司 | 业务助理 | | | 王天宜 | 汇添富基金管理股份有限公司 ...

Group 1: Company Strategy and Business Development - The company focuses on integrating payment, financial, e-commerce, and information technologies to provide comprehensive services for small and micro merchants [3][4] - New products launched in Q4 include cloud stores, payment codes, cloud collection, and electronic signature POS systems [4] - The company aims to enhance its market presence through self-operated and channel-driven strategies, as well as strengthen external collaborations with financial institutions [4] Group 2: Market Conditions and Challenges - The payment industry is characterized by strict regulations and increasing competition, necessitating innovation in payment products [4][5] - The COVID-19 pandemic has had a limited short-term impact on the company's main business, with a projected slight decline in transaction volume in Q1 2020, but an overall growth trend expected for the year [4][6] - The company anticipates that the demand for online services from merchants will increase due to the pandemic [4] Group 3: Financial Performance and Projections - The company's reserve fund balance is approximately 4.9 billion, reflecting an increase due to changes in clearing rules and increased fund deposits [5] - The company expects continued growth in the industry and its own QR code payment transactions in 2020 [4][6] - The company reported that its points purchase business saw transaction volume more than double last year, indicating strong profit growth [6] Group 4: Partnerships and Collaborations - The company has entered a non-exclusive partnership with Huawei, focusing on member services, marketing, and payment solutions [5] - The collaboration includes joint development of payment solutions and marketing strategies, with plans for market release [5] Group 5: Future Outlook - The company plans to enhance its financial services for small and micro merchants as a key area of development [5] - The future of online and offline payment development is expected to be driven by economic growth, new payment methods, and technological advancements [6]

Group 1: Company Overview and Partnerships - The company collaborates with Huawei on various initiatives, including membership, discounts, marketing, and product cooperation [2] - Joint development of Huawei Wallet merchant payment and user discount marketing has been completed, with plans for further market promotion [3] Group 2: Impact of COVID-19 - The pandemic has significantly affected industries such as dining, hotels, retail, and tourism, but the company's overall transaction volume is expected to see only a slight decline [3] - After January 20, 2020, the overall transaction volume began to recover [3] Group 3: Business Performance and Goals - The company's QR code transaction volume exceeded 600 billion in the previous year, with a strong growth trend and an increasing structural proportion [3] - Merchant operating business revenue grew over 80% in 2019, with plans for continued expansion in 2020 [4] Group 4: Financial Technology Model - The financial technology model includes providing services such as loans, insurance, and credit cards to small and micro businesses in collaboration with financial institutions [4] - The company offers integrated services like card acceptance and QR code payments to small banks, including risk control technology output services [4] Group 5: Marketing and Industry Trends - The company's membership advertising and marketing business has shown significant progress due to its user scale and operations [4] - Industry fee rates have remained stable in recent years, with expectations for 2020 to follow the same trend [4]

Group 1: Business Overview - The company operates in four business segments: payment technology, financial technology, e-commerce technology, and information technology [1] - The company has approximately 3,500 merchants and branches across all provinces in China [1] Group 2: Growth Expectations - In the next 1-3 years, both the number of merchants and transaction volume are expected to grow [2] - The company focuses more on merchant structure and transaction volume rather than just the number of merchants [2] Group 3: Strategies for Increasing Transaction Volume - The company aims to expand new merchants while also enhancing the transaction activity of existing merchants through various methods, including interaction with account managers and product innovation [2] Group 4: Business Segment Focus - Resources are primarily directed towards payment and merchant operations, with dedicated teams for each of the four business segments [2] - The three new business segments currently account for over 30% of the company's net profit, with a target of reaching 50% within three years [2] Group 5: Historical Transaction Trends - Since obtaining a payment license in 2011, the company has leveraged its nationwide branches and partnerships to develop its card acquiring business, leading to continuous high growth in transaction volume from 2014 [2] - In 2019, transaction volume saw a year-on-year decline due to macroeconomic factors and a focus on expanding QR code transaction merchants, but future growth is anticipated [2]

Group 1: Company Overview and Development Stages - Lakala was established in 2005 and has gone through four development stages: 1.0 (2005-2011) focused on credit card repayments and convenience payments; 2.0 (2011-2015) marked by obtaining the first batch of payment licenses and entering the acquiring market; 3.0 (2015-2018) embracing mobile internet and launching smart POS terminals; and 4.0 (post-2019) focusing on empowering small and micro merchants [2][3][4]. Group 2: Market Position and Competition - Lakala's market share in the acquiring business, including bank acquiring, is approximately 4%, while its share in the third-party payment industry is about 8% [3][4]. - The competitive landscape includes major players like UnionPay Business, Lakala, and Tonglian, with a low industry concentration expected to lead to future consolidation [3][4]. Group 3: Business Performance and Growth - In 2019, Lakala's QR code payment transaction volume grew by over 100% year-on-year, with transaction counts and amounts leading the industry [4][5]. - The company serves over 21 million merchants with an annual transaction volume nearing 4 trillion, indicating strong cash flow and profit margins [4][5]. Group 4: Strategic Goals and Future Outlook - To achieve annual growth of 20-30%, Lakala plans to focus on product innovation and expanding its merchant base, prioritizing the structure of merchants and transaction volumes over sheer numbers [5][6]. - The company emphasizes maintaining merchant loyalty through brand reputation, product quality, and service [5][6]. Group 5: Impact of COVID-19 - The pandemic has had a limited impact on Lakala's main business, as it primarily provides online and offline payment technology and services to small and micro merchants [6]. - The demand for online services from merchants is expected to increase, particularly in sectors like catering, hotels, retail, and tourism, which have been more affected by the pandemic [6].

Group 1: Impact of COVID-19 on Business - The COVID-19 pandemic has a limited short-term impact on the company's main business, which focuses on providing online and offline payment technology and financial services to small and micro businesses [2][3] - The demand for online services from merchants is expected to increase during the pandemic, although sectors like dining, hotels, retail, and tourism will be significantly affected [3] - The transaction volume from affected sectors is relatively small, and a slight decline in transaction volume is anticipated in Q1, with recovery expected post-pandemic [3] Group 2: Industry Growth and Company Positioning - The growth of the third-party payment industry is assured, driven by economic growth, rising consumption levels, and technological innovations [3] - The company positions itself as a comprehensive service provider for small and micro businesses, integrating payment technology with financial, e-commerce, and information technology services [3][4] - As of 2018, the company's market share was approximately 4%, while its share in the third-party payment industry was about 8% [3] Group 3: Competitive Advantages and Market Strategy - The company's competitive advantages include a strong management and technical team, strategic layout, user scale, industry position, technological strength, product innovation, and a well-established branch network [3] - The company collaborates with major players like WeChat and Alipay, positioning itself on the merchant side of the payment chain [4] - The company has seen rapid growth in QR code payment transactions, leading the industry in both transaction volume and amount [4] Group 4: Financial Performance and Future Outlook - As of Q3 2019, the overall gross margin of the company was 46%, with payment business gross margin at 42.6% and merchant operation business gross margin at 70% [5] - The company operates with a light asset model, has strong cash flow, and no interest-bearing debt, focusing on sustainable development and investor returns [5]

证券代码：300773 证券简称：拉卡拉 编号：20200228001 | --- | --- | --- | --- | |--------------|---------------------------------|----------------------------------|-------| | 投资者关系 | ☑ | 特定对象调研 □分析师会议 | | | 活动类别 | □ | 媒体采访 □业绩说明会 | | | | □ 新闻发布会 □路演活动 | | | | | □ 现场参观 | | | | | | □其他 （请文字说明其他活动内容） | | | 参与单位名称 | 机构 | 姓名 | 职位 | | | 中信证券 | 肖斐斐 | | | 及人员姓名 | 中信证券 | 彭博 | | | | 宝盈基金 | 李幸 | | | | 融通基金 | 朱丹 | | | | 中信资管 | 李品科 | | | | 高毅资产 | 姜思辰 | | | | | | | | | 磐沣投资 | 张耀冈 | | | | 安本亚洲 | Bush Chu | | | | 开域资本 | Yap Wy-En | | | | 诚 ...

证券代码：300773 证券简称：拉卡拉 编号：20200721001 | --- | --- | --- | --- | --- | --- | --- | --- | |--------------|------------------------|----------------------------------|----------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | 投资者关系 | ☑ | 特定对象调研 □分析师会议 | | | | | | | 活动类别 | □ 媒体采访 □业绩说明会 | | | | | | | | | □ 新闻发布会 □路演活动 | | | | | | | | | □ 现场参观 | | | | | | | | | | □其他 （请文字说明其他活动内容） | | | | | | | | 机构 | | 姓名 | | | | | | 参与单位名称 | 刘高畅 | | 国盛证券 | | | | | | 及人员姓名 | 杨然 | | 国盛证券 | | | | | | | ...

证券代码：300773 证券简称：拉卡拉 拉卡拉支付股份公司投资者关系活动记录表 编号：20190703001 | --- | --- | --- | |-----------------------|-----------------------------|------------------------------------------------------------| | | | | | 投资者关系 | ☑ | 特定对象调研 □分析师会议 | | 活动类别 | □ 媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ 其他 | （请文字说明其他活动内容） | | 参与单位名称 | | 日本大和证券：深野正二朗、谷口亮、刘墨石、小野原让、林雅 | | 及人员姓名 | 大武 | 伟、马喆、鹤冈贵子、程章龙、石桥绘美、张汇深、游惠璋、藤田 | | | 中信建投：张悦 | | | 时间 | 2019 年 7 月 3 日 | | | 地点 | 公司会议室 | | | 上市公司接 | | 公司副总经理兼董事会秘书：朱国海 | | 待人员姓名 | ...