Core Viewpoint - The article highlights the unexpected rise of "Kongzhong Yunhui," a cross-border payment company, which achieved a valuation of $6.2 billion (approximately 44.6 billion RMB) in the first half of 2025, surpassing many hard-tech companies and becoming the highest-valued startup in China during this period [7][9][10]. Group 1: Company Overview - Kongzhong Yunhui was founded in 2015 and has completed 13 rounds of financing, attracting investments from notable firms such as Sequoia China, Tencent, and Alibaba Entrepreneur Fund [7][12]. - The company focuses on streamlining traditional cross-border financial processes, offering modular services for payment, currency exchange, and account management, primarily targeting B2B clients, especially SMEs [12][13]. - As of March 2025, Kongzhong Yunhui reported an annual revenue of $720 million, a 90% year-on-year increase, and processed over $130 billion in transactions globally [13]. Group 2: Investment and Valuation - In May 2025, Kongzhong Yunhui completed a $300 million Series F financing round, with participation from global investors including Square Peg, DST Global, and Visa Ventures, leading to its valuation increase to $6.2 billion [9][10][12]. - The company has a diverse product matrix, including foreign exchange engines and embedded financial services, which have contributed to its competitive edge in the market [12][13]. - The article notes that domestic investors have played a significant role in the company's funding history, with a total of $1.2 billion raised over the years, indicating strong support from the Chinese investment community [15][16]. Group 3: Founders and Personal Success - Co-founder Liu Yueting has become the wealthiest woman in New Zealand, with a net worth of 3 billion RMB, following her initial investment of $1 million in the company [14][18]. - The founders' backgrounds include significant experience in finance and investment, which has contributed to the company's strategic positioning and growth [18].

中经记者 许璐 李晖 北京报道 支付行业转型进入深水区，机构经营挑战加大，更活跃的市场买卖成为必然。 博通咨询金融行业首席分析师王蓬博在接受《中国经营报》记者采访时表示，过去几年，监管考量支付牌照并购的一个重要关注点是，要求收购方具备真 实的支付场景，且业务量能够支撑支付业务。 快钱支付的"高开低走" 快钱金融最重要的资产是其100%控股的快钱支付清算信息有限公司（以下简称"快钱支付"）。快钱支付成立于2004年，是2011年首批获得中国人民银行 颁发的第三方支付牌照机构之一，目前具有储值账户运营Ⅰ类牌照和支付交易处理Ⅰ类牌照，并拥有跨境支付业务资质。 快钱支付一度是国内第三方支付赛道上的明星选手。公开信息显示，巅峰时期，公司曾以破2万亿元的年交易额位列行业前四。2014年年末，万达旗下公 司以3.15亿美元（约合人民币20亿元）的价格收购快钱支付68.7%的股权，成为最大股东。 但此后，快钱支付的发展不及预期。2018年开始，市场上万达集团计划出售快钱支付牌照的传闻不断，但最终买家一直没有落地。行业内相关统计数据显 示，快钱支付2024年上半年的月交易量不足10亿元，已跌出行业前二十。 业务承压的同时，快钱 ...

Group 1 - The core announcement is about China Ruyi's significant equity acquisition plan, where its wholly-owned subsidiary will acquire 30% of Kuaiqian Financial for a total value of RMB 240 million [1] - The payment for the acquisition will be completed in three stages, and after the acquisition, China Ruyi will become the largest single shareholder of Kuaiqian Financial [1] - Kuaiqian Financial holds a strong position in the third-party payment sector, having obtained one of the first third-party payment licenses from the People's Bank of China in 2011 [1][2] Group 2 - Kuaiqian Financial provides comprehensive payment solutions primarily for large and medium-sized enterprises, with a rich merchant resource base across various industries including finance, insurance, travel, retail, and cross-border [1] - The acquisition is expected to expand China Ruyi's business into the third-party payment and fintech sectors, creating synergies with its existing online streaming and gaming services [1] - Post-acquisition, Kuaiqian Financial will not be a subsidiary of China Ruyi but will be treated as an associate company, with its financial performance not consolidated into the group's financial statements [2]

公司相信，收购事项能促使集团的业务拓展至第三方支付及金融科技领域，预期将有助于集团的长远增 长及发展。目标公司为中国内地获得全牌照的第三方支付机构之一，持有涵盖互联网支付、移动支付、 银行卡收单及跨境人民币支付等多项支付业务牌照，并已完成跨境人民币备案。目标公司在金融、保 险、航旅、零售及跨境等多个行业积累了丰富的商户资源及行业经验，具备稳固的市场地位及业务基 础。据此，公司认为，目标公司的支付服务能够与集团现有业务，包括线上流媒体、线上游戏服务，以 及公司间接投资的附属公司万达电影股份有限公司的线下影城业务产生协同效应。 此外，目标公司亦为中国人民银行数字货币研究所首批合作机构之一，具备全面受理数字人民币的能 力，并积极参与数字人民币及跨境支付场景的应用与推广，具备良好的政策导向与技术创新潜力。公司 认为，收购事项将有助于集团拓展金融科技业务，实现业务多元化，并透过目标公司的行业资源、技术 能力及政策优势，为集团带来长远的战略协同效益及潜在的增长机会。 格隆汇7月22日丨中国儒意(00136.HK)发布公告，近日，公司的间接全资附属公司上海儒意星辰企业管 理有限公司("买方")、上海万达网络金融服务有限公司 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失 承擔任何責任。 China Ruyi Holdings Limited 本公司欣然宣佈，近日，本公司的間接全資附屬公司上海儒意星辰企業管理有限公司（「買 方」）、上海萬達網絡金融服務有限公司（「賣方」）及快錢金融服務（ 上海 ）有限公司（「目標公 司」）訂立股權轉讓協議（「協議」）。據此，買方有條件同意受讓而賣方有條件同意轉讓目標 公司30%股權（「收購事項」），現金代價為人民幣240,000,000元，分三期支付。 目標公司於2011年首批獲得中國人民銀行（「央行」）頒發的第三方支付牌照，主要為大中型 企業提供綜合支付解決方案，同時積極佈局海外，發展數字人民幣，推出跨境收付款、全 球收單、跨國人民幣結算、海外購等多種跨境產品，大力拓展跨境業務，為跨境多場景提 供綜合支付解決方案。 中 國 儒 意 控 股 有 限 公 司 （ 於百慕達註冊成立之有限公司） （股份代號：136） 自願公告 收購目標公司的30%股權 本公告由 ...

Group 1: Core Insights - Airwallex has successfully completed a $300 million Series F funding round, achieving a post-money valuation of $6.2 billion, positioning itself as a benchmark in the fintech sector amid a challenging market environment [1] - The funding round attracted top-tier venture capital firms such as Square Peg and Lone Pine Capital, along with strategic investment from Visa Ventures, highlighting market recognition of Airwallex's innovative model [1] Group 2: Performance and Global Strategy - Airwallex's valuation is supported by impressive performance metrics, with an annualized revenue of $720 million by March 2025, reflecting a 90% year-over-year growth, and processing transaction volumes exceeding $130 billion [2] - The company has established a strong presence in the Americas and Europe, with a compound annual growth rate of over 250% in gross profit in these regions over the past four years [2] - Airwallex has set up branches in 37 countries and regions, holding over 60 financial licenses, including recent acquisitions of payment service provider MexPago in Mexico and a payment institution license from the Central Bank of Brazil [2] Group 3: Technological Innovation - Airwallex has built a global clearing network that reduces 95% of cross-border payments to hours, with 68% processed in real-time, contrasting with traditional banks reliant on the SWIFT system [3] - The company leverages AI to enhance its technological advantages, reducing account misjudgment rates by 50% through machine learning-based risk control models and helping clients mitigate foreign exchange losses with an intelligent foreign exchange engine [3] - The introduction of the "AI agent finance" concept aims to integrate AI into cash flow forecasting and tax compliance decision-making processes, redefining service boundaries for cross-border payment platforms [3] Group 4: Market Opportunity - Airwallex is targeting a significant market gap in cross-border financial services for SMEs, with an estimated potential market size of $570 billion by 2027 [5] - The company offers a suite of solutions including multi-currency accounts, global acquiring, and embedded APIs to reduce service costs and enhance operational efficiency for businesses [5] Group 5: Future Outlook - With the new $300 million funding, Airwallex plans to expand its global financial services network and deepen the application of AI technology in cross-border payments [7] - The company's trajectory from addressing SMEs' cross-border payment challenges to building a financial infrastructure covering over 180 countries exemplifies how technology is reshaping cross-border finance [7]