这家支付公司再度迎来股权转让。12月3日，北京商报记者注意到，海南产权交易所披露的信息显示，海航商业控股有限公司（以下简称"海航商 业控股"）拟将持有的上海卡友支付服务有限公司（以下简称"卡友支付"）23.52%股权全部对外转让，这也是近期海航集团剥离支付牌照的又一动 作。 对于卡友支付的股权转让，业内并不陌生。过去十余年间，卡友支付股权几经变动，股东方甚至欲将公司全部股权进行转让，但并未能获得人民 银行的批准。卡友支付本身已于2024年9月暂停支付业务，至今尚未恢复。股东变更之外，卡友支付如何在支付牌照有效期到期前重拾支付业务、 重振支付品牌亦面临挑战。 "海航系"支付持续"瘦身" 根据公告，海航商业控股在2025年12月1日—31日对全体意向投资者进行公开招募，拟将所持有的卡友支付23.52%股权全部转让。 按照要求，意向投资者应该具备与股权收购事宜相匹配的资金实力，同时应核心主业突出、公司治理规范、组织架构清晰、股权结构透明、资信 状况良好，近三年无重大违法、违约记录。两个或两个以上的意向投资者可联合参与投资，但至少一个意向投资人符合上述条件。 人民银行官网显示，卡友支付主要业务类型是银行卡收单，业务覆 ...

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].