Core Points - LeShua Payment Technology Co., Ltd. has been fined for violating clearing and merchant management regulations, totaling over 4.43 million yuan [1][3] - This marks the third penalty received by LeShua Payment in 2025, with total fines approaching 10 million yuan for the year [3] Summary by Category Regulatory Actions - The People's Bank of China, Shenzhen Branch, imposed a fine of 3.695 million yuan on LeShua Payment for violations related to clearing management and merchant management, along with the confiscation of illegal gains amounting to 741,685.22 yuan [1][2] - An individual, identified as Shu, who was employed at LeShua Payment, was fined 15,000 yuan for his responsibility in the merchant management violations [1][2] Historical Context - In 2025, LeShua Payment has received three penalties from the People's Bank of China, with the first penalty on March 28 amounting to 4.45 million yuan for various violations including management and due diligence failures [3] - On August 8, the Hubei branch of the People's Bank of China fined LeShua Payment's Hubei subsidiary 500,000 yuan for failing to fulfill due diligence obligations and risk management measures [4] Company Background - LeShua Payment Technology Co., Ltd. was established in 2013 and received investment from notable institutions like Tencent. It obtained a payment business license from the People's Bank of China in 2014, allowing it to operate nationwide in card acquiring and mobile payment services [7] - The company is a wholly-owned subsidiary of Shenzhen Yika Technology Co., Ltd., and is based in Nanshan District, Shenzhen [7]