新国都支付硬件业务收入实现持续增长，毛利率保持稳定。该公司战略性重点聚焦于海外市场发展，在 继续夯实既有市场基础的同时，进一步拓展高潜力区域市场，推动全球化布局取得关键突破。与此同 时，公司在软件及解决方案产品的商业化进展显著。 本报讯(记者丁蓉)1月27日，深圳市新国都（300130）股份有限公司(以下简称"新国都")披露2025年度业 绩预告。公司预计2025年实现归属于上市公司股东的净利润4亿元至5亿元，同比增长70.79%至 113.49%。 公告显示，2025年新国都整体营业收入保持平稳发展态势。该公司持续推进支付硬件与支付服务出海战 略，把握全球市场机遇，加快全球化业务布局，推动业务出海实现高质量发展。 新国都国内收单业务2025年累计处理交易流水约1.47万亿元，较上年同期基本持平。受新商户拓展策略 及营销支持力度加大的影响，收单及增值服务业务的收入及毛利率较上年同期出现一定幅度下降。该公 司积极通过人工智能技术推动组织与业务智能化升级，加快落地"支付+AI"场景化应用，赋能商户高效 运营。 跨境支付业务方面，新国都持续加大资源投入，深耕产品研发与银行渠道建设，不断丰富产品线、提升 核心竞争力。 ...

人民财讯1月27日电，新国都（300130）1月27日发布业绩预告，预计2025年归母净利4亿元—5亿元，同 比增长70.79%—113.49%。报告期内，公司整体营业收入保持平稳发展态势。支付硬件业务收入实现持 续增长，毛利率保持稳定。国内收单业务2025年累计处理交易流水约1.47万亿元，较上年同期基本持 平。受新商户拓展策略及营销支持力度加大的影响，收单及增值服务业务的收入及毛利率较上年同期出 现一定幅度下降。公司积极通过人工智能技术推动组织与业务智能化升级，加快落地"支付+AI"场景化 应用，赋能商户高效运营。 ...

南财智讯1月27日电，新国都发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润为40000 万元—50000万元，同比预增70.79%—113.49%；预计2025年全年归属于上市公司股东的扣除非经常性 损益的净利润为35000万元—45000万元，同比预减28.91%—8.60%。业绩变动原因说明：1、报告期 内，公司整体营业收入保持平稳发展态势。公司持续推进支付硬件与支付服务出海战略，把握全球市场 机遇，加快全球化业务布局，推动业务出海实现高质量发展。支付硬件业务收入实现持续增长，毛利率 保持稳定。公司战略性重点聚焦于海外市场发展，在继续夯实既有市场基础的同时，进一步拓展高潜力 区域市场，推动全球化布局取得关键突破。与此同时，公司在软件及解决方案产品的商业化进展显著。 国内收单业务2025年累计处理交易流水约1.47万亿元，较上年同期基本持平。受新商户拓展策略及营销 支持力度加大的影响，收单及增值服务业务的收入及毛利率较上年同期出现一定幅度下降。公司积极通 过人工智能技术推动组织与业务智能化升级，加快落地"支付+AI"场景化应用，赋能商户高效运营。跨 境支付业务方面，公司持续加大资源投入，深耕 ...

12月31日晚间*ST仁东（002647）发布公告，公司已完成公司名称、法定代表人变更登记及《公司章 程》备案手续，公司全称已由"仁东控股股份有限公司"变更为"仁东控股集团股份有限公司"，公司法定 代表人变更为刘长勇，公司证券简称和证券代码均保持不变。 业绩表现方面，2025年前三季度，*ST仁东实现营收6亿元，实现净利润3.67亿元，上年同期为亏损1.43 亿元，报告期内净资产大幅转正。2025年上半年，*ST仁东子公司合利宝跨境支付业务交易量达825亿 元，同比大幅增长约159%。 2025年7月至8月，*ST仁东相继在深圳、北京、乌兰察布设立了3家智算公司，抢占数字基建核心节 点；9月，*ST仁东战略投资全流程国产化AI芯片创新企业江原科技，将国产AI芯片业务纳入核心生态 布局。至此，*ST仁东已确立"支付+AI"的全新发展战略。据了解，*ST仁东接下来将全力推进"支付 +AI"战略深度融合，加速打造智能科技生态闭环，同时积极探索AI前沿技术与跨境支付融合场景。 对于此次更名的原因，公告称，随着公司业务的发展，公司已构建起以母公司为中心、多家子公司协同 发展的企业集团架构。为了更好地落实公司发展战略，更 ...

Group 1: Payment Services Performance - In the first three quarters of 2025, the total transaction volume for payment services reached 1.62 trillion yuan, with the third quarter showing a growth of over 18% compared to the previous year [2][3] - The company has maintained a quarter-on-quarter growth trend in transaction volume since Q3 2024, primarily driven by the increase in QR code transactions, highlighting its strong service capabilities for offline merchants [2][3] Group 2: Market Position and Regulatory Environment - The implementation of new regulations, such as the "Non-Bank Payment Institutions Supervision Management Regulations," has accelerated market differentiation, leading to the exit of mid-tier institutions [3] - As of June 2025, the company has provided services to over 4.8 million active merchants, with a net increase of nearly 1 million active merchants since the end of 2024, contributing to rapid growth in QR code transaction volume [3] Group 3: AI and Technology Integration - The company has established a deep strategic partnership with Alibaba Cloud to explore the application of AI models in payment scenarios, leveraging both parties' strengths [4][5] - The AI marketing agent, integrated into the Xingyifu APP, has attracted over 150,000 active merchants within two months of its free trial launch, aiming to create a closed-loop business model for AI application monetization [5][6] Group 4: Cross-Border Payment Initiatives - The company is actively participating in the construction of a unified cross-border QR code gateway, which aims to simplify the cross-border payment process and enhance efficiency [7][8] - The company has successfully obtained MSB licenses and is working towards establishing a comprehensive infrastructure for cross-border payment and overseas acquiring services [8] Group 5: Smart Device Market Trends - In the first three quarters of 2025, overseas sales revenue for smart devices grew by over 26% year-on-year, with improving gross margins in Q3 [9] - The global market for payment terminal devices is projected to reach 1.2 billion units, with the company currently holding less than 1.2% market share, indicating significant growth potential in both developed and emerging markets [9]

Core Viewpoint - *ST Rendo has shown significant financial recovery and growth potential, with a strong performance in the first three quarters of 2025, indicating a successful turnaround and strategic repositioning in the market [1][3]. Financial Performance - The company reported a revenue of 600 million yuan and a net profit attributable to shareholders of 367 million yuan for the first three quarters, marking a year-on-year increase of 356.65% [1]. - In Q3 alone, the net profit reached 19.91 million yuan, reflecting a year-on-year growth of 167.41%, continuing the strong recovery trend observed in the first half of the year [1]. - The net profit for the first half of the year was 347 million yuan, successfully turning the net assets positive and overcoming previous financial difficulties [1]. Strategic Developments - Following its restructuring, *ST Rendo initiated a new strategic layout within six months, including the introduction of strategic shareholders like CITIC Capital and Guangzhou Assets, which facilitated the complete clearance of historical debts [2]. - The company established three wholly-owned subsidiaries in Shenzhen, Beijing, and Ulanqab to capitalize on the "East Data West Computing" policy, positioning itself in key digital infrastructure nodes [2]. - An investment of 100 million yuan was made in Jiangyuan Technology, acquiring a 4.1427% stake, marking the integration of "payment + AI" into its core business ecosystem [2]. Business Model and Future Outlook - The company is focusing on building a smart technology ecosystem that integrates payment services with AI technology, aiming to create a comprehensive industrial chain [2]. - The synergy between payment and AI is beginning to show, with plans to connect AI infrastructure, hardware, and application scenarios, enhancing competitive advantages for long-term growth [2][3]. - Industry experts believe that the significant increase in net profit and the recovery of cash flow indicate a solid business foundation, with improved financial metrics signaling a transition to a stable growth phase [3].

Core Insights - *ST Rendo achieved a revenue of 600 million yuan and a net profit of 367 million yuan in the first three quarters of 2025, marking a year-on-year growth of 356.65% [1] - The company reported a net profit of 19.91 million yuan in Q3 alone, reflecting a year-on-year increase of 167.41%, continuing the strong recovery trend observed in the first half of the year [1] - The successful turnaround of the company is evidenced by its positive net assets and restored operational capabilities, leading to expectations of a delisting risk warning removal after the 2025 annual report [1] Financial Performance - In the first half of 2025, *ST Rendo achieved a net profit of 347 million yuan and successfully turned its net assets positive, overcoming previous financial difficulties [1] - The company’s cash flow has returned to a positive cycle, and its asset-liability structure is continuously improving, indicating a significant recovery in profitability [3] Strategic Developments - *ST Rendo has accelerated its business restructuring and strategic upgrades, focusing on the cross-border payment sector and leveraging AI technology to build a comprehensive smart technology ecosystem [1][2] - The company has initiated a new strategic layout just six months after completing its restructuring, including the introduction of strategic shareholders and the establishment of subsidiaries to capitalize on digital infrastructure opportunities [2] - A key step in the AI strategy was taken with a 100 million yuan investment in Jiangyuan Technology, marking the integration of "payment + AI" into its core business ecosystem [2] Market Outlook - The synergistic effect of the "payment + AI" strategy is beginning to show, with the company aiming to create a comprehensive smart technology ecosystem that spans the entire industry chain [2] - Analysts note that the significant growth in net profit and the solid business foundation indicate a transition to a new phase of stable development for the company, with potential for future growth and value reassessment by the market [3]

Core Insights - The overall performance of listed payment institutions in China during the first half of 2025 shows significant divergence, with over half experiencing revenue declines due to intensified domestic market competition and regulatory pressures [1][2][8] - Many institutions are seeking new growth opportunities through overseas expansion and technological transformation, particularly in "payment + technology" models [1][4][8] Domestic Market Challenges - The domestic third-party payment market is facing saturation, with several institutions reporting revenue declines, including major players like Lakala and JiaLian Payment, which saw revenue drops of 11.1% and 12.9% respectively [2][8] - Factors contributing to the revenue decline include stricter cash-out regulations, increased competition leading to price wars, and rising operational costs [2][8] - The overall payment transaction volume has shrunk, with Lakala reporting a 9.2% decrease in payment transaction amounts [2] Growth Amidst Adversity - Despite the overall downturn, some institutions like Yika, Lianlian Digital, and Guotong Xingyi achieved revenue and profit growth, with Lianlian Digital's revenue increasing by 26.8% [3][8] - These companies have maintained growth in transaction volumes, with Lianlian Digital reporting a 27.6% increase in total payment volume [3] Technological Innovations - Many payment institutions are exploring "payment + SaaS" and "payment + AI" strategies to enhance service capabilities and create new revenue streams [4][8] - Lakala has introduced AI-driven services to improve merchant interactions, indicating a trend towards integrating advanced technologies into payment solutions [4] Cross-Border Business Expansion - Cross-border payment services have shown significant growth, with Lakala reporting a 73.5% increase in cross-border payment transaction amounts [6][8] - The demand for digital payment solutions in emerging markets is driving this growth, with institutions like Lianlian Digital achieving a 94% increase in global payment transaction volumes [6] Challenges in Overseas Expansion - Despite the potential for growth in overseas markets, institutions face challenges such as regulatory differences, localization difficulties, and compliance risks [7][8] - The competitive landscape in cross-border e-commerce is dominated by established players, making it difficult for new entrants to gain market share [7][8] Conclusion - The first half of 2025 presents a challenging environment for listed payment institutions in China, prompting them to embrace technological advancements and seek new growth avenues in cross-border markets, while navigating the complexities of international expansion [8]

Core Insights - The third-party payment industry in China is facing intense competition, leading to a stagnation in transaction growth and a compression of profit margins for many companies [1][5] - Among the eight listed payment institutions, total revenue for the first half of 2025 reached approximately 9.268 billion yuan, with three companies reporting both revenue and net profit growth, while five experienced revenue declines [1][3] Revenue and Profit Performance - Lakala reported revenue of 2.65 billion yuan, down 11.1% year-on-year, with net profit of 230 million yuan, down 45.3% [2][3] - Yika achieved revenue of 1.642 billion yuan, up 4.0%, and net profit of 41 million yuan, up 27.0% [2][3] - Lianlian Digital saw significant growth, with revenue of 783 million yuan, up 26.8%, and net profit of 1.511 billion yuan, a 531.9% increase [2][3] - Guotong Xingyu reported revenue of 1.412 billion yuan, up 9.1%, and net profit of 318 million yuan, up 21.4% [2][3] - Other companies like Jialian Payment and Suixing Pay experienced revenue declines of 12.4% and 10.0%, respectively, with significant drops in net profit [2][3][4] Market Dynamics and Challenges - The payment industry is experiencing a saturation in the domestic market, leading to increased price competition and reduced profit margins [5][6] - The overall decline in transaction volumes is a key factor affecting revenue performance, with Lakala's transaction amount dropping by 9.2% year-on-year [6] - Companies are increasingly investing in technology and innovation to enhance competitiveness, despite short-term profit pressures [5][8] Cross-Border Business Growth - Cross-border payment services are showing robust growth, with Lakala serving over 160,000 clients, a 70.4% increase, and cross-border transaction amounts reaching 37.1 billion yuan, up 73.5% [9][10] - Lianlian Digital's global payment transaction volume reached 198.5 billion yuan, a 94% increase, indicating a strong expansion in cross-border services [10][11] - The potential for higher profit margins in cross-border payments is attracting companies to explore international markets, despite challenges such as regulatory differences and local operational difficulties [11][12]

Core Viewpoint - The performance of listed payment institutions in the first half of 2025 shows a mixed picture, with some companies experiencing revenue and profit growth while others face declines due to intense competition and market saturation in the domestic payment sector [1][5]. Group 1: Financial Performance - Eight payment institutions reported a cumulative revenue of approximately 9.268 billion yuan in the first half of 2025, with three companies achieving both revenue and net profit growth, while five experienced varying degrees of revenue decline [1][3]. - Lakala, despite maintaining its leading position, reported a revenue of 2.65 billion yuan, down 11.1% year-on-year, and a net profit of 230 million yuan, down 45.3% [2][3]. - Lianlian Digital saw significant growth, with revenue of 783 million yuan, up 26.8%, and a net profit of 1.511 billion yuan, a remarkable increase of 531.9% [2][3]. Group 2: Market Dynamics - The payment industry is facing a "involution" phenomenon, characterized by fierce competition and a saturated domestic market, leading to reduced profit margins for many institutions [1][5]. - The overall decline in transaction volumes is a key factor affecting revenue performance, with Lakala's payment transaction amount decreasing by 9.2% to 19.6 trillion yuan [6][12]. - Companies are increasingly focusing on cross-border payment services, which are showing robust growth, with Lakala's cross-border payment transaction amount reaching 37.1 billion yuan, up 73.5% [9][10]. Group 3: Strategic Shifts - Payment institutions are exploring new growth avenues through technology integration, such as AI and SaaS solutions, to enhance service quality and operational efficiency [7][8]. - The trend of "payment + technology" is becoming prominent, with companies aiming to transform into comprehensive service providers by leveraging blockchain and AI technologies [8][11]. - Cross-border payment services are seen as a new growth path, driven by higher fee rates compared to domestic services and the rising demand for digital payments in emerging markets [11][12].