Core Insights - The company reported a strong growth in overseas business, with a single-quarter GPV (Gross Payment Volume) nearing 1.3 billion RMB, surpassing the total overseas GPV of approximately 1.1 billion RMB from the previous year, and showing a 50% increase from 800 million RMB in the second quarter of this year [2] Overseas Business Performance - The company continues to empower international clients through its one-stop payment services and value-added service product lines [2] - The investment in Fushi Technology has expanded the service range, diversifying the merchant industry mix to include education, apparel, and beauty service providers [2] Domestic Business Development - The domestic merchant and partner ecosystem has become more comprehensive, collaborating with SaaS industry partners like Meituan to enhance service quality for merchants and consumers [2] - Joint acquiring partnerships with banks have further solidified the development foundation, driving sustainable profit growth in domestic one-stop payment services, with a payment transaction volume reaching 6.163 trillion RMB in the third quarter [2] Value-Added Services Expansion - The company has made significant progress in expanding vertical industry clients, successfully partnering with well-known platforms such as Taobao, Ctrip, and Didi [2] - The transaction volume of AI-generated digital human videos has continued to rise in the third quarter, further enhancing the sustainability of the company's overall profitability [2]

Core Insights - The company reported a significant growth in overseas business, with GPV reaching nearly 1.3 billion RMB in Q3, surpassing the total overseas GPV of approximately 1.1 billion RMB for the previous year, and showing a 50% increase from 800 million RMB in Q2 [1][2] Group 1: Overseas Business Performance - The company continues to empower international clients through its one-stop payment services and value-added service product lines [1] - The company has diversified its merchant industry mix, now including well-known international brands such as Playmade, Zhenbao, and Shilin Taiwanese Snacks [1] - The company has been exploring overseas markets since 2021 and has obtained various licenses, including MSO in Hong Kong and MPI in Singapore [1] Group 2: Domestic Business Developments - The company has partnered with SaaS industry ecosystem partners like Meituan to enhance service quality for merchants and consumers [1] - The company has solidified its development foundation through collaborations with banks for joint collection, leading to sustained profitability growth in domestic one-stop payment services [1] - In Q3, the payment transaction volume (GPV) reached 6.163 trillion RMB [1] Group 3: Strategic Adjustments and Future Plans - Following strategic adjustments, the company’s in-store e-commerce business has achieved monthly profitability since Q2 [2] - The company is set to become one of the first Douyin service providers in the Hong Kong and Macau regions by Q3 2025, serving international brands like Toshiba and China Telecom [2] - The company has made significant progress in expanding value-added services in vertical industries, securing partnerships with notable platforms such as Taobao, Ctrip, and Didi [2]