Core Insights - The core viewpoint of the articles highlights the recognition of Lakala as a leading player in the digital payment sector, reaffirming its strong market position and commitment to innovation and compliance in operations [1][2]. Group 1: Company Recognition - Lakala has been ranked 74th in the "Top 100 Chinese Internet Enterprises Comprehensive Strength Index (2025)" released by the China Internet Association, marking its seventh consecutive year in the top 100 [1]. - The evaluation criteria for the top 100 include seven dimensions: scale strength, profitability, innovation capability, growth capability, risk control capability, social responsibility, and corporate credit, reflecting the overall development status of Chinese internet enterprises [1]. Group 2: Business Strategy - In 2025, Lakala aims to promote digital payment, share digital technology, and realize data value, focusing on strengthening its core payment business [2]. - The company is accelerating the integration of payment services with SaaS and AI, systematically promoting AI applications in merchant services, enterprise operations, and risk control [2]. - Lakala is building a digital service system centered on "Payment + SaaS + AI," enhancing merchant service efficiency and resilience, and supporting the digital upgrade of the real economy [2].

支付行业强监管加码合利宝被重罚 长江商报消息●长江商报记者 徐佳 2025年末，支付行业再现天价罚单。 日前，中国人民银行广东省分行作出行政处罚决定。广州合利宝支付科技有限公司（以下简称"合利 宝"）因违反清算管理规定等四项违法行为，被给予警告、通报批评，合计罚没7487.99万元，一名相关 责任人被罚92.5万元。 长江商报记者注意到，在支付行业的行政处罚中，合利宝此次被罚金额属于较高水平，这也体现了监管 部门对支付行业违规行为的零容忍态度。 罚单公布后，合利宝的母公司、A股上市公司*ST仁东（仁东控股、002647.SZ）迅速回应称，合利宝已 根据中国人民银行要求，全面完成自查整改工作。 值得关注的是，因严重债务危机，*ST仁东2024年末被裁定重整。受*ST仁东重整影响，央行对合利宝 申请支付牌照续展中止审查。 而合利宝这张7488万元的罚单，或将对*ST仁东的经营业绩产生冲击。2025年前三季度，*ST仁东实现 营业收入6亿元，同比减少35.68%；归母净利润3.67亿元，同比增长356.65%；扣非净利润4168.72万 元，同比增长135.62%。 根据中国人民银行广东省分行在2025年末发布的行 ...

公开信息显示，中钢银通成立于2011年，并于2012年6月获得支付牌照，最初获准开展预付卡发行与受 理，后来在2014年7月增加了互联网支付业务。作为上海中钢投资集团控股子公司，中钢银通以建设钢 铁行业支付平台为目标，为相关企业客户提供支付、资金管理等综合解决方案。 2025年7月10日，人民银行上海市分行发布的行政处罚决定信息显示，中钢银通因违反商户管理规定、 违反机构管理规定、违反账户管理规定、违反清算管理规定，被警告、通报批评，没收违法所得 170500.54元，并罚款684万元。 实际上，近年来，支付牌照进入重新布局洗牌阶段，每年都有牌照被注销。比如2023年，有15家支付机 构被注销牌照，退出市场。2024年有10张，2025年央行注销的支付牌照也有12张之多。 对此，中国邮政储蓄银行研究员娄飞鹏告诉记者，当前支付牌照缩减有三方面原因：一是监管部门进一 步强化支付机构监管，支付机构积极响应监管要求，通过增资扩股、调整股东结构等方式，为业务拓展 和产品服务创新夯实基础，无法满足监管要求的机构被淘汰；二是部分支付机构盈利困难或违规行为较 为严重；三是支付机构内部整合，也会使支付牌照缩减。 （来源：经济参 ...

Core Viewpoint - The payment industry in China faced its largest penalty of 2025, with Guangzhou Heli Bao Payment Technology Co., Ltd. receiving a total fine of approximately 74.88 million yuan due to multiple regulatory violations [1][2]. Group 1: Regulatory Violations - Heli Bao was found to have committed four major violations during the inspection period from September 1, 2022, to July 31, 2024, including violations of clearing management regulations, payment terminal management, merchant management, and account management [2][3]. - The total penalty included a fine of 62.8 million yuan and the confiscation of illegal gains amounting to 12.08 million yuan, making it the largest penalty in the payment industry for 2025 [2][3]. Group 2: Financial Impact - The penalty significantly impacts Heli Bao's financial performance, as the fine represents approximately 128.43% of the company's net profit of 58.3 million yuan for the first half of 2025 [7]. - For its parent company, *ST Rindong, the penalty accounts for 20.4% of its net profit of about 367 million yuan for the first three quarters of 2025 [7][6]. Group 3: License Renewal Challenges - Heli Bao's payment business license renewal is currently under a suspended review status, which raises concerns about the company's operational compliance and future business capabilities [8][10]. - The suspension of the license renewal is linked to potential violations of anti-money laundering regulations and other compliance issues, which could undermine user trust in the company's payment security and stability [9][10].

数字人民币重大调整,利好金融 IT 和三方支付 [Table_Industry] 综合金融 ——金融科技行业双周报第二十期 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 刘欣琦(分析师) | 021-38676647 | liuxinqi@gtht.com | S0880515050001 | | 孙坤(分析师) | 021-38038260 | sunkun@gtht.com | S0880523030001 | 本报告导读： 数字人民币迎利好，允许数币付息和部分准备金制度落地、跨境支付政策落地，利 好金融 IT 和三方支付；部分金融科技行业持续严格监管。 投资要点： 综合金融《数币余额开始付息，供需双向促规模 增长》2026.01.03 综合金融《数币体系升级，规模有望加速增长》 2025.12.29 综合金融《大模型第一股将上市,百融云发布 RaaS 战略》2025.12.22 综合金融《投融资再平衡持续，股权融资逐步回 暖》2025.12.22 股 票 研 究 研 究 报 告 请务必阅读正文之后的免责条款部分 行 ...

近日，上海市通信管理局指导，上海市互联网协会组织的"数智领航，沪链全球——上海市互联网企业年会暨高质量发展论坛"正式举行，现场发布了2025 《上海市互联网企业综合实力指数报告》，揭晓"2025年上海市互联网综合实力前50强企业和成长型10强企业"榜单。平安壹钱包旗下平安付电子支付有限公 司（下称"平安付"）凭借优异的数字支付能力和科技应用水平，成功跻身前50强，同榜企业包括拼多多、携程、叮咚买菜及饿了么等。 截至目前，平安付累计服务的支付账户超4亿，支持平安综合金融及外部金融机构的支付服务领先同业，发行品牌联名预付卡50余种，拥有超220万客户信 赖。同时，平安付依托平安集团与平安壹钱包资源能力，积极践行乡村振兴带动消费帮扶10亿元，展现企业社会责任担当。 2025年上海市互联网综合实力前50强企业榜单的发布，不仅彰显了上海互联网行业的蓬勃发展，也体现了上榜企业在市场竞争中强劲势头。报告显示，上海 市互联网行业发展呈现出六大特征。在业务收入、营业利润、研发投入、财务风险防控、人才建设及业态分布等方面，这些上榜企业各有所长，实力强劲。 2024年榜单前50家企业互联网业务总收入已达7205亿元，且营业利润连续 ...

中国基金报记者 夏天 曾因股价闪崩而被称为"最强绞肉机"的*ST仁东（证券代码：002647），其核心子公司在2025年年末迎来一笔约7488万元的巨额罚单。 综上，人行广东分行对合利宝给予警告、通报批评，并处罚款6279.97万元，没收违法所得1208.02万元，罚没款合计7487.99万元。 *ST仁东表示，截至公告披露日，合利宝已完成上述罚款缴纳，目前公司生产经营活动正常。本次行政处罚系合利宝日常监管检查处罚，未触及《深圳证 券交易所股票上市规则》第九章第五节规定的重大违法强制退市的情形，不会对公司生产经营及财务状况产生重大影响。根据企业会计准则相关规定，本 次罚款金额将减少公司当期利润，具体以公司年度审计确认后的结果为准。 约7488万元的罚款无疑将对*ST仁东2025年度的净利润表现产生重大影响。2025年三季报显示，公司前三季度实现归母净利润约3.67亿元。据此计算，本 次罚款金额约占前三季度归母净利润的20%。 2025年12月31日晚间，*ST仁东公告称，控股子公司广州合利宝支付科技有限公司（以下简称合利宝）近日收到中国人民银行广东省分行（以下简称人行 广东分行）出具的《行政处罚决定书》，因违 ...

Core Viewpoint - *ST Rendo's subsidiary, He Libao, has been fined a total of approximately 74.88 million yuan by the People's Bank of China for violations related to payment settlement management and account management [2][5]. Group 1: Penalty Details - He Libao was found to have committed four violations during the inspection period from September 1, 2022, to July 31, 2024, including breaches of clearing management regulations and merchant management regulations [5]. - The total penalty consists of a fine of 62.80 million yuan and the confiscation of illegal gains amounting to 12.08 million yuan, leading to a total of 74.88 million yuan [5]. - This penalty is expected to significantly impact *ST Rendo's net profit for 2025, as it represents approximately 20% of the company's net profit of about 367 million yuan for the first three quarters of 2025 [5]. Group 2: Business Operations and Risks - He Libao holds a payment business license issued by the People's Bank of China and is the main operator of *ST Rendo's third-party payment business, which includes online and offline payment services [6][7]. - The renewal of He Libao's payment license is currently in a "suspended review" status due to the restructuring of its indirect controlling shareholder, Rendo Holdings, which poses a long-term survival risk for the company [6][7]. - *ST Rendo is actively communicating with regulatory authorities to resolve the issues causing the suspension and aims to submit a report for resuming the review once the situation is rectified [7].

Core Viewpoint - *ST Rendo's subsidiary, He Li Bao, has been fined 74.88 million yuan by the People's Bank of China for regulatory violations, which may significantly impact the company's net profit for 2025 [2][6]. Group 1: Regulatory Penalties - He Li Bao received a total fine of 74.87 million yuan, which includes a fine of 62.80 million yuan and the confiscation of illegal gains amounting to 12.08 million yuan [5]. - The violations identified during the inspection period from September 1, 2022, to July 31, 2024, include breaches of clearing management, payment terminal management, merchant management, and account management regulations [5]. Group 2: Financial Impact - The fine represents approximately 20% of *ST Rendo's net profit of about 367 million yuan for the first three quarters of 2025 [6]. - The penalty will reduce the company's current profits, with the exact impact to be confirmed after the annual audit [5]. Group 3: Business Operations and Risks - He Li Bao's payment license renewal is currently in a "suspended review" status, posing a long-term survival risk for the company [7]. - The company is actively communicating with regulatory authorities to resolve the issues causing the suspension and plans to submit a report for resuming the review once the situation is rectified [7]. - The progress of the payment license renewal is subject to industry regulatory policies and may face delays due to policy changes or company-specific reasons [8].

摘要：今天，我们就来完整复盘先锋金融与网信案的来龙去脉：它如何借风口崛起，又为何突然崩塌？ 当前案件进展如何？留给行业和投资者的启示又有哪些？ 2025年6月，一则"先锋支付被正式吊销营业执照"的消息，再次将沉寂数年的"先锋系"拉回公众视野。 这个曾横跨互联网金融、第三方支付、公募基金等多个领域的资本巨鳄，从巅峰时的千亿版图，到如今 核心资产清算、创始人客死他乡、600多亿资金待兑付的残局，其兴衰史堪称中国互联网金融泡沫破裂 的缩影。 一、狂飙二十年：从担保公司到千亿金融帝国 先锋系的故事，始于2003年的大连。这一年，经济学硕士出身的张振新创立联合创业担保集团，凭借传 统担保、租赁、典当等类金融业务积累原始资本，这也成为先锋系金融版图的起点。与"明天系""安邦 系"直接控股传统金融机构不同，先锋系的扩张路径更具"互联网时代特色"——以科技为幌子，构建"金 融+产业"的复杂生态。 2009年，先锋系通过收购港股上市公司中国信贷科技，拿到了重要的海外融资平台，资本运作的齿轮正 式转动。真正的爆发则在2013年之后，随着国内互联网金融浪潮兴起，先锋系精准抓住风口，推出核心 平台"网信理财"，以高收益产品快速吸纳公 ...