Group 1 - Dongfang Electronic Payment Co., Ltd. has completed a shareholding change, with Ningzhi Information Technology (Shanghai) Co., Ltd. becoming the sole controlling shareholder [1] - Ningzhi Information Technology is wholly owned by Xiaohongshu Technology Co., Ltd., which means Xiaohongshu has officially obtained a payment license [1] - The registered capital of Dongfang Electronic Payment has increased from 121.3 million to 200 million yuan, with an additional investment of 78.7 million yuan [1] Group 2 - Dongfang Electronic Payment was established in 2008 and obtained the first batch of payment business licenses from the central bank in 2011, with a license renewal completed in August 2022, valid until May 2026 [1] - The company has been underperforming, with revenues of 8.88 million yuan and a net loss of 8 million yuan in 2024, and revenues of 3.76 million yuan with a net loss of 5.27 million yuan in the first half of 2025 [1] - The acquisition of existing licensed institutions has become a primary path for internet platforms to obtain payment qualifications amid tightening regulations on payment licenses [1] Group 3 - Xiaohongshu's acquisition of the payment license aligns with its accelerated e-commerce transformation, aiming to create a closed-loop content e-commerce ecosystem [2] - Xiaohongshu has made significant moves in 2025, including entering cross-border e-commerce and launching a "million commission-free plan" for merchants [2] - The platform's e-commerce gross merchandise volume (GMV) surpassed 400 billion yuan in 2024, with over 350 million monthly active users, 170 million of whom seek to make purchases each month [2]