Core Viewpoint - Youzan Technology's payment subsidiary has officially changed its name to "Beijing Youzan Payment Co., Ltd." and is the first retail technology service company to obtain a payment license in China [1][2]. Group 1: Company Developments - The registered capital of Youzan Payment has increased from 150 million yuan to 200 million yuan, reflecting a commitment to long-term development in the payment business [1][3]. - The name change is a response to regulatory requirements and aims to clarify the brand positioning of "Youzan Payment," enhancing recognition and trust among merchants and partners [2][3]. Group 2: Regulatory Compliance - The formal name change of Youzan Payment complies with the "Non-Bank Payment Institutions Supervision Management Regulations," which require non-bank payment institutions to obtain approval from the People's Bank of China and include "payment" in their names [3]. Group 3: Business Strategy - The additional investment of 50 million yuan will primarily be used to strengthen technology research and development, risk management systems, and service capabilities, ensuring safer, more efficient, and stable payment solutions for merchants [3]. - Youzan Payment has exited the operation of Class II stored value accounts and is focusing on enhancing its payment services [3]. Group 4: Product Offerings - Youzan Payment has launched two core products: "Youzan Collection" and "Youzan Distribution." Youzan Collection allows customers to receive payments through various methods, including WeChat Pay, Alipay, and bank cards, even without purchasing Youzan's SaaS products [5]. - Youzan Distribution supports flexible revenue sharing models for supply chain, secondary distribution, and franchise operations, processing both orders that go through Youzan Payment and those that do not [5]. - The company aims to continue adhering to compliance, safety, and efficiency principles while leveraging its strong SaaS ecosystem to enhance payment services and contribute to the growth of the digital economy [5].