Core Viewpoint - The article discusses the recent performance and strategic positioning of Lianlian Digital (02598.HK) in the context of the stablecoin market and its efforts to adapt to changes in cross-border trade dynamics. Group 1: Market Performance - Lianlian Digital's stock price experienced a significant increase of 158% over nine trading days, followed by a 40% drop on the tenth day, stabilizing at 10.54 HKD as of June 27 [2] - The stock price rose approximately 65% from May 21 to June 27, following the Hong Kong Legislative Council's approval of the Stablecoin Bill [3] Group 2: Stablecoin and Virtual Asset Strategy - Lianlian Digital is actively involved in the stablecoin sector, having partnered with Yuan Coin Technology, one of the first three stablecoin issuers in Hong Kong, to develop the "Yuan Coin Wallet" [3] - The company has obtained a Virtual Asset Trading Platform (VATP) license, which positions it to expand its virtual asset financial services [4] - The stablecoin concept is seen as a key entry point for traditional finance, offering advantages in payment efficiency and cost [4] Group 3: Financial Performance - In 2024, Lianlian Digital reported total revenue of 1.315 billion CNY, a year-on-year increase of 27.9%, and achieved a profit of 78.7 million CNY, reversing a previous loss of 403 million CNY [7] - The total payment volume (TPV) reached 3.3 trillion CNY, a significant increase of 64.7% year-on-year, driven by growth in cross-border e-commerce and B2B traditional trade [8] Group 4: Strategic Adjustments - The company sold a 14.56% stake in Lian Tong Company for approximately 1.6 billion CNY, reducing its ownership to 17.63%, which alleviates the financial burden from previous losses [9] - Lianlian Digital is focusing on global expansion by acquiring local licenses and supporting transactions in over 130 currencies, aiming to mitigate risks from changing trade dynamics [13] Group 5: Industry Challenges and Opportunities - The cross-border payment sector faces challenges due to uncertain tariff policies, which may increase transaction costs and compliance risks [11][12] - Lianlian Digital plans to enhance its competitiveness through technology-driven operations and by expanding into emerging markets such as Southeast Asia and Latin America [15]
【新华财经调查】连连数字：能否借虚拟资产重写支付叙事？