屡错屡犯？快钱支付年内三度被罚！母公司三成股权遭万达抛售

Core Viewpoint - KQ Payment has faced multiple regulatory penalties in 2025 for violations related to clearing management and merchant management, indicating ongoing compliance issues within the company [4][9]. Regulatory Penalties - On August 5, 2025, KQ Payment's Henan branch was fined a total of 408,005.78 yuan for violating merchant management and clearing management regulations [2][3]. - In 2025, KQ Payment received three regulatory penalties, totaling over 6.678 million yuan, all related to violations of clearing management [4][9]. - Previous penalties include a fine of 6.25 million yuan on July 7, 2025, for violations of clearing, account, and merchant management regulations [4][5]. - In April 2025, KQ Payment's Shandong branch was fined 20,000 yuan for clearing management violations [6]. - In July 2023, KQ Payment's Hainan branch was fined 730,000 yuan for issues related to fund settlement to non-matching accounts and providing non-compliant merchants with "T+0" settlement [7]. Corporate Acquisition - China Ruyi Holdings plans to acquire 30% of KQ Financial Services (the parent company of KQ Payment) for 240 million yuan, pending approval from the People's Bank of China [9][10]. - The acquisition aims to gain control over KQ Payment's payment license, which has been a point of interest for several years [9][11]. - Following the acquisition, Ruyi Holdings will become the largest single shareholder of KQ Financial, although KQ Financial will not be consolidated into Ruyi's financial statements [14]. Shareholding Structure - KQ Payment's ownership has changed significantly, with the current shareholders being Fuzhou Wangfu Information Technology Co., Ltd. and Nanning Xinguo Information Technology Co., Ltd., holding 52.01% and 47.99% respectively [11][13]. - The previous major shareholder, Wanda Group, reduced its stake in KQ Financial from 100% to 30% in late 2024, leading to a more fragmented shareholding structure [13][14]. - The new ownership structure includes several natural persons and companies, indicating a lack of a controlling shareholder [13][14]. Risk Management Concerns - KQ Payment has been penalized over 10 million yuan in total for various compliance failures, highlighting weaknesses in its risk management system [14].