出品：新浪财经创投Plus 编辑整理：shu 据中国基金业协会数据显示，2025年5月新增登记的私募股权、创业投资基金管理人只有2家，较4月骤降83.3%，与2024年5月相比减少60%；月内已注销私 募股权、创业投资基金管理人共34家，其中一半以上为主动注销；新增备案私募股权投资基金、创业投资基金合计339只，同比增长55.5%，环比下降 18.7%。 结合往期数据分析，本月融资频率最高的A轮，融资事件数、披露融资额较2024年5月分别下降11.3%、23.8%，平均单笔融资额由2977.09万元降至2557.66万 元。与2025年4月相比，两项指标呈相同趋势，且降幅明显扩大，融资事件数减少31.3%，披露融资额降幅超22%。 机构加速出清，基金募集活跃度尽管有所回升，但传导至投资端仍需时日。基于公开数据不完全统计，5月国内一级股权投资市场共发生428起融资事件，同 比、环比分别减少13.6%、18.0%；披露总融资额约182.33亿元，与2024年5月基本持平，较2025年3月缩水21.5%；平均单笔融资额约4290.04万元，创下近五 个月内最低点。 值得关注的是，5月21日，跨境支付平台「Airwa ...

近日，PhotonPay光子易与全球领先金融服务机构摩根大通（J.P. Morgan）于欧洲举行高层会谈。PhotonPay光子易创始人兼首席执行官陈敏（Lewison Chen）与摩根大通董事总经理（Managing Director）兼全球非银机构支付业务负责人Jason Clinton、摩根大通Kinexys全球联席负责人Naveen Mallela率领核心 团队，就全球支付行业的创新发展路径、技术革新趋势及未来合作方向展开了深度对话与战略磋商。 在严格遵循全球合规监管框架的前提下，PhotonPay光子易构建了覆盖全球主要经济体的本地化服务网络，依托其创新的数字化金融基础设施解决方案，为 企业客户提供从跨境贸易拓展到海外市场深度运营的一站式全周期服务支持，助力企业实现全球化战略布局。 着眼未来，PhotonPay光子易将持续深化与国际金融机构的战略合作，通过构建更开放、灵活、可扩展的金融服务，弥合全球商业中的金融摩擦，助推企业 在复杂多变的市场环境中行稳致远。 Lewison表示："市场机遇是促成颠覆性创新的基础，而市场需求是真正推动企业持续创新的动力。过去十年间，PhotonPay光子易始终以用户需 ...

Core Viewpoint - The surge in the stock price of Lianlian Digital is attributed to the favorable policies surrounding "stablecoins" and its strategic positioning in the cross-border payment market, despite ongoing profitability challenges [2][7]. Group 1: Company Overview - Lianlian Digital, established in 2009, is a digital payment solution provider and one of the first companies to enter the cross-border e-commerce payment market [2]. - The company's core business, digital payment services, accounts for over 87% of its revenue, generating income through transaction fees from various payment services [2][3]. Group 2: Financial Performance - In 2024, Lianlian Digital reported total revenue of 1.315 billion yuan, a year-on-year increase of 27.9%, with total payment volume reaching 3.3 trillion yuan, up 64.7% year-on-year [3][9]. - Despite the revenue growth, the company recorded a net loss of 167 million yuan in 2024, although this was a significant reduction compared to previous years [9][10]. Group 3: Market Position and Strategy - The competitive domestic payment market has prompted Lianlian Digital to adopt a forward-looking approach in global and technological sectors, leveraging the emerging "stablecoin" market [4][10]. - The introduction of the "stablecoin sandbox" by the Hong Kong Monetary Authority in 2024 allows companies to test stablecoin issuance in a controlled environment, which Lianlian Digital is actively participating in [5][6]. Group 4: Future Growth Potential - The integration of stablecoins into cross-border transactions is expected to enhance efficiency and reduce costs, potentially improving the profitability of payment companies like Lianlian Digital [13]. - Lianlian Digital has obtained a VATP virtual asset trading platform license, marking a significant step in expanding its services in the virtual asset sector [14].

每经记者｜杨建 每经编辑｜彭水萍 点评：实现数据资源共享共用的一种数据流通利用基础设施，是数据要素价值共创的应用生态，是支撑 构建全国一体化数据市场的重要载体。随着政务数据共享的推进，数据治理服务商、隐私计算技术企业 将迎来发展机遇。同时，数据要素市场化将激活金融风控、城市治理、产业规划等领域的商业模式创 新。未来，数据分级分类管理、隐私计算技术将成为关键。政策强调"构建全国一体化政务大数据体 系"，直接利好云计算、大数据平台及数据安全技术企业。概念股包括易华录、同有科技、奥飞数据 等。 2、国际油价全线上涨，布油主力合约涨0.66%，报65.29美元/桶。国际贵金属期货收盘涨跌不一， COMEX黄金期货跌0.68%，报3376.1美元/盎司；COMEX白银期货涨3.31%，报35.795美元/盎司。欧洲 三大股指收盘涨跌不一，德国DAX指数涨0.19%，报24323.58点；法国CAC40指数跌0.18%，报7790.27 点；英国富时100指数涨0.11%，报8811.04点。 3、6月5日，央行公告，为保持银行体系流动性充裕，2025年6月6日，央行将以固定数量、利率招标、 多重价位中标方式开展1000 ...

Financial Data and Key Metrics Changes - The company reported a 133% year-over-year increase in consolidated income from operations, a 57% increase in consolidated adjusted EBITDA, and a 290% increase in EPS [4] - Gross profit increased 15% year-over-year, with a gross profit margin reaching a record high of 37.1% [11][12] - Adjusted EBITDA margins reached 15% in the third quarter [7] Business Line Data and Key Metrics Changes - At NRS, recurring revenue increased 23% year-over-year, driven by a 37% revenue increase from merchant services and a 32.3% increase in SaaS fees, despite a 12% decrease in advertising and data revenue [4] - The fintech segment, including Boss Money, generated over $5 million in adjusted EBITDA compared to $244,000 in the year-ago quarter [6] - Traditional communications segment income from operations and adjusted EBITDA both jumped over 30% year-over-year [8] Market Data and Key Metrics Changes - Subscription revenue increased 7% to $21.5 million in the quarter, with a higher constant currency increase of 11% [16] - The remittance platform, Boss Money, saw a 27% increase in transactions and a 25% increase in revenue [5] Company Strategy and Development Direction - The company is focusing on developing new offerings that leverage the NRS platform to help retailers compete with larger chains, particularly in online ordering and delivery [5] - The company is pursuing next-generation growth initiatives and is in the budgeting process for fiscal 2026 [9][19] - The company is exploring acquisitions but emphasizes the importance of paying the right price to extract value [29][33] Management's Comments on Operating Environment and Future Outlook - Management noted that the third quarter was slightly softer than the second quarter due to expected seasonal factors, but they remain pleased with overall performance [10] - The company expects to meet its adjusted EBITDA goal of $126 million for the full year [19] - Management expressed confidence in the long-term profitability of traditional communications as a cash generator [17] Other Important Information - The company set up a bad debt expense provision of $1.4 million related to amounts due from a client [13] - The company repurchased $6 million of employee-owned shares to satisfy tax obligations triggered by vesting [18] Q&A Session Summary Question: Insights on NRS growth and sales strategy - Management indicated that increased efforts in bringing new and existing retailers onto the merchant processing platform contributed to strong numbers this quarter [22] Question: Details on AI agent customer base - Most customers for the AI agent are existing NetSuite phone customers, with plans to expand to new customers in the future [24] Question: Future M&A activity - Management confirmed they are looking at acquisitions but will only pursue those that offer good value [29] Question: Impact of reduced advertising revenue from a partner - Management noted that while a significant partner's contribution has decreased, other advertising revenues have been growing nicely, and they are close to covering the decline [50][51] Question: Future EBITDA margins for NetSuite phone - Management expressed uncertainty but indicated that new initiatives could lead to substantial margin improvements over time [54] Question: Investment in customer acquisition for Boss Money - Management acknowledged the potential for increased investment in customer acquisition to capture market share from legacy players [57]

PayPal (PYPL) FY 2025 Annual General Meeting June 05, 2025 11:30 AM ET Speaker0 I would like to introduce you to mister Enrique Lopez, independent board chair of PayPal Holdings. Mister Lopez, you may begin. Speaker1 Good morning, and welcome to the twenty twenty five Annual Stockholders Meeting. I am Enrique Lores, Chair of PayPal Holdings Board of Directors. I would like to introduce the other board members who are also participating in today's meeting. Alex Cris, who also serves as our president and chie ...

Worldline’s Shareholders Meeting and Board of Directors of June 5, 2025 Paris La Défense, June 5, 2025 - Worldline [Euronext: WLN], a global leader in payment services held today its Shareholders’ Meeting chaired by Mr. Wilfried Verstraete, Chairman of the Board of Directors. Shareholders’ Meeting held on June 5, 2025 At today's meeting, shareholders adopted all the resolutions submitted by the Board of Directors, in particular: the Company and consolidated accounts for the financial year ended on December ...

Core Viewpoint - The China Payment and Clearing Association has introduced new regulations to enhance self-regulation in the acquiring outsourcing service sector, aiming to standardize payment outsourcing practices and mitigate risks associated with acquiring services, thereby promoting a healthy development of the payment service market [1] Group 1 - The newly released regulations include the "Regulations on the Filing Management of Acquiring Outsourcing Service Institutions" and the "Regulations on the Evaluation Management of Acquiring Outsourcing Services" [1] - These regulations will take effect immediately upon publication [1]

Core Points - The China Payment and Clearing Association has released two new regulations: the "Record Management Specification for Acquiring Outsourcing Service Institutions" and the "Evaluation Management Specification for Acquiring Outsourcing Services," effective immediately [1] - The regulations aim to address long-standing issues in the acquiring outsourcing market, such as illegal operations, gambling, fraud, and risk transmission, by enhancing transparency and risk control capabilities [1][4] - The evaluation specification outlines 30 types of risk behaviors and categorizes risks into three levels, establishing a blacklist management standard and information sharing requirements [4][5] Group 1 - The "Evaluation Specification" clarifies the requirements for licensed institutions to register information about cooperating outsourcing institutions, including risk types and levels [4] - The regulations emphasize the importance of data security and confidentiality management, requiring outsourcing institutions to establish independent and secure technical architectures [2][3] - The regulations will lead to an accelerated industry reshuffle and higher entry barriers, shifting the focus from price competition to compliance and technology [1][4] Group 2 - Acquiring institutions must terminate cooperation with non-compliant outsourcing institutions within 20 working days if the evaluation results are unsatisfactory [4] - The regulations require licensed institutions to verify the risk information of outsourcing partners before collaboration and report any risk behaviors within five working days [5] - The blacklist sharing mechanism aims to collectively penalize non-compliant institutions, increasing the cost of violations and ensuring their exit from the market [5]

作为出海展业的必选项，支付机构近期海外拿牌动作频频。6月5日，北京商报记者注意到，跨境支付机构PingPong接连官宣， 成为中国首家持有马来西亚MSB（Money Services Business）牌照、阿联酋支付牌照的机构。与此同时，多家支付机构在东南 亚、中东、拉美等地区积极拿牌，为海外业务拓展做好合规准备，也趁机"秀"了一把综合实力。移卡、连连数字等多家支付机 构向北京商报记者表示，将持续扩大全球业务版图，并重点关注新兴市场机会。 掀起海外拿牌热潮 5月29日，PingPong宣布正式获得马来西亚中央银行批准，成为中国首家持有MSB牌照的To B跨境支付机构。据悉，继新加 坡、印尼牌照后，此次获得马来西亚牌照将进一步扩大PingPong在"一带一路"国家和地区的业务布局和本地生态网络建设范 围。 另一方面，获取境外支付牌照的高难度、复杂流程，也使其成为支付机构展现综合实力的方式之一。正如移卡方面表示，在美 国，获取MTL牌照是一个复杂且耗时的过程，涉及多个步骤和严格的评估程序。通常需要先申请MSB牌照作为备案，然后才 能申请各州的MTL牌照以实现合规。移卡此次成功取得MTL牌照，体现了美国金融监管部 ...