富友支付再次赴港IPO：净利润波动明显，上市前多次宣派股息

Core Viewpoint - Fuyou Payment has submitted an application for a Hong Kong IPO, with CITIC Securities and Shenwan Hongyuan Hong Kong as joint sponsors. The company aims to enhance its digital payment services across various business scenarios in China [1]. Financial Performance - From 2022 to 2024, Fuyou Payment's revenue has shown a compound annual growth rate (CAGR) of 19.6%, with revenues of RMB 1.142 billion, RMB 1.506 billion, and RMB 1.634 billion respectively [6][8]. - In 2024, the company reported a net profit attributable to shareholders of RMB 84.065 million, a decline from RMB 93.165 million in 2023 [7][8]. - The company has declared dividends multiple times since 2022, with a total of approximately RMB 185 million declared from 2022 to 2024. For 2025, a mid-term dividend of RMB 40 million has been declared, with RMB 24.4 million already paid [11][12]. Market Position - As of December 31, 2024, Fuyou Payment ranked 8th among third-party payment service providers in China, holding a market share of 0.8% with a total payment transaction volume (TPV) of RMB 2.1 trillion [4][6]. - The overall TPV for China's digital payment service market in 2024 was RMB 268.6 trillion, dominated by three major non-independent providers that collectively held 75.6% of the market share [3]. Regulatory Compliance - Fuyou Payment has faced four administrative penalties totaling RMB 6.9 million since 2021 for non-compliance with relevant laws and regulations [12]. Future Plans - The company plans to use the funds raised from the IPO to enhance its product offerings through innovative solutions, invest in technology platforms and infrastructure, expand its payment network, and deepen relationships with ecosystem partners [12].