Group 1 - The company Lakala (300773.SZ) has announced plans to issue H-shares and list on the Hong Kong Stock Exchange as part of its international development strategy [2] - The company aims to enhance its competitiveness in the international market by promoting the application of digital currency in cross-border scenarios [2] - Currently, the company is in discussions with intermediaries regarding the specifics of the H-share listing, which is a complex and systematic process [2] Group 2 - Lakala was established in 2005 and became a leading third-party payment institution in China after obtaining a payment business license from the People's Bank of China in 2011 [3] - The company provides comprehensive digital business solutions for merchants, enterprises, and financial institutions, focusing on various sectors such as dining, retail, automotive, and tourism [3] - Lakala is deepening its "Payment+" strategy and integrating AI into its business to support high-quality development of the real economy [3] Group 3 - In 2024, Lakala reported a revenue of 5.759 billion yuan, a year-on-year decrease of 2.96%, and a net profit attributable to shareholders of 351 million yuan, down 23.26% [4] - In the first quarter of 2025, the company's revenue was 1.299 billion yuan, a year-on-year decrease of 13.01%, with a net profit of 101 million yuan, down 51.71% [4] - Lakala has no controlling shareholder or actual controller, with Lenovo Holdings being the largest shareholder, holding a 26.14% stake, which may provide support and potential synergies for the company [4]

拉卡拉（300773）7月1日晚间公告，大股东联想控股计划减持上市公司不超过总股本3%的股份。联想 控股目前持股比例为26.54%。 拉卡拉7月1日股价下跌8.1%，但较5月28日收盘价仍上涨61%。该公司近期股价上涨的背景是稳定币相 关概念热度飙升。 据披露，联想控股计划在自公告之日起的15交易日后的3个月内(2025年7月23日至2025年10月22日)以集 中竞价方式减持上市公司股份不超过总股本比例的1%；自公告之日起15个交易日后的3个月内以大宗交 易方式合计减持不超过总股本比例的2%。 联想控股表示，减持价格根据减持时的市场价格确定，减持是由于自身业务安排及需要。 近期除联想控股计划减持，拉卡拉还迎来一位重要股东的减持计划。 5月20日，拉卡拉曾公告称，持有公司股份1927万股(占剔除回购股份后公司总股本比例为2.45%)的股东 孙浩然计划减持，减持数量不超过1927万股。 据拉卡拉的IPO招股书披露，孙浩然与拉卡拉创始人孙陶然为兄弟关系。 拉卡拉2019年上市，其前身是创始人孙陶然与有道创投、雷军等共同出资创办的乾坤时代，为中国最早 的第三方支付公司之一。 2008年，联想控股以现金+资产的方式注 ...

Core Viewpoint - Lakala is planning to issue H-shares and list on the Hong Kong Stock Exchange, which has led to a significant increase in its stock price, but the company faces challenges such as declining revenue and compliance risks [1][3][11]. Company Overview - Lakala Payment Co., Ltd. was established in 2005 and became the first digital payment company listed on the A-share market in April 2019 [4]. - The company holds a payment license issued by the central bank and operates various payment services [4]. Recent Developments - Lakala announced its plan for overseas share issuance and listing on the Hong Kong Stock Exchange, with discussions ongoing with relevant intermediaries [3][4]. - Following the announcement, Lakala's stock price surged, with a peak increase of 16.16% on June 17, but later experienced a decline of 6.28% by June 19 [3]. Financial Performance - In Q1, Lakala reported a revenue of 1.299 billion yuan, a year-on-year decrease of 13.01%, and a net profit of 101 million yuan, down 51.71% [11]. - For the full year 2024, the company expects a revenue of 5.759 billion yuan, a decrease of 2.96%, and a net profit of 351 million yuan, down 23.26% [11]. - The company’s cross-border payment transaction volume reached 49.2 billion yuan in 2024, a year-on-year increase of 14% [4]. Market Position and Challenges - Lakala's cross-border payment transactions accounted for only about 1.2% of its total payment transaction volume of 4.22 trillion yuan last year, indicating limited contribution to overall performance [4]. - The company faces intense competition from major players like PingPong, Alipay, and WeChat Pay, which dominate the market [4][11]. - Lakala's efforts to transition from traditional payment services to comprehensive financial technology services have encountered significant challenges [11]. Compliance and Governance Issues - Lakala has been reducing its registered capital, with a decrease from 788.08 million yuan to 776.66 million yuan in April 2023, marking the second reduction this year [7]. - The company has faced multiple compliance issues, including fines for regulatory violations, which could pose challenges for its future listing in Hong Kong [9][11]. - The company’s major shareholder has been frequently reducing their stake, raising concerns about governance and stability [8][9]. Shareholder Structure - The largest shareholder of Lakala is Legend Holdings, holding 26.54% of shares, followed by Chairman Sun Taoran with 7.01% [5].

公司动态 6月16日，拉卡拉公告称，公司正在筹划境外发行股份（H股）并在香港联合交易所有限公司上市，以推进国际化发展战略，构建国内国际双循环格局，打 造国际资本运作平台，加快数字货币在跨境场景的应用，进一步提升公司国际竞争力。相关细节尚未确定，后续进展情况将及时履行信息披露义务。该事项 需提交公司董事会和股东大会审议，并经相关监管机构批准、备案和审核。 据拉卡拉官网资料显示，拉卡拉成立于2005年，于2011年首批获得中国人民银行颁发的《支付业务许可证》，2019年4月25日于深交所上市，成为A股第三 方支付第一股。 2005年-2011年，拉卡拉提供信用卡还款、便民缴费等服务，为个人和企业用户提供包括支付等多项业务在内的综合性金融服务。随着交易量的不断提升， 拉卡拉的业务规模逐渐扩大，并有了上市的计划。2011年-2015年，2011年拉卡拉获得了第一批央行支付牌照，开始全面进入收单市场，帮助商户收款。 2015年-2018年，3.0时代，拥抱移动互联网，推出智能pos等智能终端，帮助商户做生意。 2019年4月，拉卡拉在深交所上市，进入资本市场，成为国内首家登上A股的支付机构。上市首日，拉卡拉开盘价39. ...

Core Viewpoint - Lakala Payment Co., Ltd. has experienced significant stock price fluctuations, with a cumulative increase of over 30% in three consecutive trading days, prompting an announcement regarding abnormal trading activity [1] Group 1: Company Announcements - Lakala is planning to issue shares overseas (H-shares) and list on the Hong Kong Stock Exchange to enhance its international competitiveness and facilitate the application of digital currency in cross-border scenarios [2] - The company has been actively communicating with intermediaries regarding the H-share listing, with specific details yet to be finalized [2] - The third-largest shareholder, Sun Haoran, is planning to reduce his holdings by up to 2.45% of the total share capital within a specified timeframe [2] Group 2: Financial Performance - Lakala's financial performance has shown significant volatility, with a decline in both revenue and net profit reported in the 2024 annual report [4] - For 2024, the company reported revenue of 5.759 billion yuan, a year-on-year decrease of 2.96%, and a net profit of 351 million yuan, down 23.26% year-on-year [4] - The first quarter of 2025 continued this downward trend, with revenue of 1.299 billion yuan, a year-on-year decline of 13.01%, and a net profit of 101 million yuan, a substantial drop of 51.71% year-on-year [4] Group 3: Regulatory Issues - Lakala has faced multiple fines due to compliance issues, including a warning and a fine of 4.06 million yuan from the People's Bank of China for various violations [4] - In 2024, the Chengdu branch was penalized for failing to provide accurate inspection materials and was fined 3.2 million yuan [4] - Additional fines were imposed for violations related to foreign exchange regulations, totaling 139,100 yuan [4]

【导读】拉卡拉宣布拟赴港上市后，股价大涨16.16% 中国基金报记者 马嘉昕 6月17日，在披露筹划赴港上市后，拉卡拉股价大涨了16.16%，盘中一度涨停。截至当日收盘，拉卡拉报31.70元/股，总市值为249.82亿元，同日披露股价 交易异常波动公告。 据悉，6月16日晚间，拉卡拉发布公告称，该公司正筹划在香港联交所上市的事项，不过相关细节尚未确定，目前正与中介机构讨论具体推进工作。 宣布拟赴港上市 6月17日晚间，由于连续3个交易日股价收盘价涨幅偏离值累计超过30%，拉卡拉披露了股价交易异常公告，表示该公司已于2025年6月16日披露了《关于 筹划公司在香港联合交易所有限公司上市的提示性公告》，目前正与相关中介机构就此次上市具体推进事宜在商讨。 公告称，待具体方案确定后，此次H股上市工作尚需提交该公司董事会和股东大会审议，并经中国人民银行批准、中国证券监督管理委员会备案和香港联 交所等监管机构审核。最终H股上市能否通过审议、备案和审核程序并最终实施具有较大不确定性，请投资者注意风险。 同时，拉卡拉在公告中也表示，该公司未发现前期披露的信息存在需要更正、补充之处。目前，该公司经营正常，近期公司经营情况及内外 ...

【导读】拉卡拉宣布拟赴港上市后，股价大涨 16.16% 公开资料显示，拉卡拉成立于 2005 年，于 2011 年首批获得央行颁发的《支付业务许可 证》，于 2019 年 4 月 25 日登陆深交所，是国内首家数字支付领域上市企业，其主营业务 为数字支付业务和科技服务业务两大类。 4 月 24 日，拉卡拉披露了 2025 年一季度财务数据。财报显示，截至 2025 年一季度末， 受季节性因素、春节长假及行业整体承压的影响，该公司的支付交易金额为 9820 亿元，同 比下降了 10.51% ；营业收入为 12.99 亿元，同比减少 3.01% ；归属母公司股东净利润为 1.01 亿元，同比减少 51.71% ；扣除非经常性损益后归母净利润为 8468 万元，同比减少 62.97% 。 中国基金报记者 马嘉昕 6 月 17 日，在披露筹划赴港上市后，拉卡拉股价大涨了 16.16% ，盘中一度涨停。截至当 日收盘，拉卡拉报 31.70 元 / 股，总市值为 249.82 亿元，同日披露股价交易异常波动公 告。 据悉， 6 月 16 日晚间，拉卡拉发布公告称，该公司正筹划在香港联交所上市的事项，不过 相关细节尚未确定 ...