连连数字上市后首份年报：利润7870万、总支付额破3.3万亿

Core Viewpoint - LianLian Digital has achieved significant financial improvement by leveraging both cross-border and domestic payment businesses, successfully turning losses into profits amid a challenging regulatory and competitive landscape [1][2]. Financial Performance - LianLian Digital reported a net profit of RMB 78.7 million in its first annual report post-IPO, a substantial recovery from a loss of RMB 403 million the previous year, indicating strong market expectations for future growth [2]. - The total payment volume (TPV) exceeded RMB 3.3 trillion, reflecting a year-on-year increase of 64.7%, showcasing robust growth in both cross-border and domestic payment sectors [2][6]. - The company's total revenue reached RMB 13.15 billion, a year-on-year growth of 27.9%, with gross profit increasing to RMB 6.83 billion, up 18.2% from the previous year [6]. Business Strategy and Growth - LianLian Digital's CEO highlighted 2024 as a pivotal year, focusing on global license expansion, compliance capabilities, and product service enhancement to drive further growth [2][3]. - The company has successfully established a global payment license network, holding 65 licenses, including a virtual asset trading platform license from the Hong Kong Securities and Futures Commission, which strengthens its competitive position [10]. Market Position and Competitive Advantage - LianLian Digital is recognized as the only Chinese digital payment provider with money transfer licenses in all U.S. states, enhancing its operational capabilities in the U.S. market [9]. - The company’s cross-border payment business generated RMB 8.08 billion in revenue, with a gross margin of 72%, positioning it among the top tier globally [6][10]. - The domestic payment business also saw explosive growth, with revenue reaching RMB 3.43 billion, a year-on-year increase of 57.1%, and TPV hitting RMB 30 trillion, up 64.9% [6]. R&D and Innovation - In 2024, LianLian Digital's R&D expenses amounted to RMB 320 million, reflecting an 18.2% increase, driven by an expanded R&D team and increased investment in technological innovation [4]. - The company is leveraging advanced technologies such as big data, AI, cloud computing, and blockchain to enhance its core technology and infrastructure [4]. Industry Context - The cross-border e-commerce sector in China is experiencing rapid growth, with a reported 10.8% increase in cross-border e-commerce imports and exports, creating substantial demand for cross-border payment solutions [8]. - The regulatory environment and market dynamics are pushing payment institutions to adapt, with LianLian Digital's compliance and strategic positioning allowing it to thrive in this competitive landscape [5][8].