Core Viewpoint - The rapid decline of ATM machines in China, driven by the rise of mobile payments, indicates a significant shift in consumer behavior and banking operations, with a reduction of approximately 30% in ATM numbers over the past five years [3][4][9]. Summary by Sections ATM Machine Decline - As of the end of 2024, China has 802,700 ATMs, down from a peak of 1,097,700 in 2019, representing a decrease of 26.87% [4][9]. - The number of ATMs per 10,000 people has also declined from 7.87 in 2019 to 5.70 in 2024, a drop of 27.5% [9]. Consumer Behavior Changes - Many consumers have shifted to cashless transactions, with some stating they haven't used cash in years, reflecting a broader trend towards mobile payments [4][8]. - The convenience of mobile payments has led to a significant reduction in ATM usage, with banks facing challenges in maintaining these machines due to high operational costs [9][10]. Bank Adjustments - Numerous banks are adjusting their ATM services, with over 50 banks ceasing operations for cardless deposit and withdrawal services in the past year [5][10]. - Major banks, including state-owned ones, have begun to phase out cardless ATM services, indicating a strategic shift in banking operations [10][11]. Future of ATMs - Experts suggest that while ATMs may not completely disappear, their role will evolve to provide more comprehensive services, particularly in areas with ongoing cash needs [6][12]. - Some banks are integrating ATMs with additional services, such as government and lifestyle services, to enhance their utility [6][12]. Industry Impact - The decline in ATM demand has led to financial difficulties for ATM manufacturers, with companies like Yuyin Co. experiencing significant revenue drops and shifts in business focus [19][21]. - Yuyin Co. reported a revenue of 66.87 million yuan in 2024, a decrease of 4.55% year-on-year, with only 10% of its revenue coming from specialized equipment manufacturing [22][21].