Core Viewpoint - The online travel agency (OTA) platform Tongcheng Travel's subsidiary, Yilong Network, is acquiring 100% of the shares of Newborn Payment to obtain a payment license, aiming to leverage opportunities in the Hainan Free Trade Port and enhance digital upgrades in cultural tourism consumption [1][2]. Group 1: Acquisition Details - Yilong Network confirmed the acquisition of Newborn Payment, which is the only licensed payment institution in Hainan, providing a strategic advantage in accessing favorable policies [1][2]. - Newborn Payment, established in 2008 with a registered capital of 100 million RMB, holds a full payment license and has successfully renewed it twice [1][2]. - The acquisition is expected to facilitate deep integration of payment functions with the main business, enhancing user experience [2]. Group 2: Business Implications - Newborn Payment's license includes internet payment, card acquiring, prepaid card issuance, and cross-border RMB payment, with potential for future cross-border currency exchange qualifications [2]. - The acquisition aligns with industry trends where major internet platforms like JD, Meituan, and ByteDance have pursued payment licenses through acquisitions [2][3]. - The payment license will enable Yilong Network to issue various gift cards and prepaid products more compliantly and conveniently [2].

Core Viewpoint - The online travel agency (OTA) platform Tongcheng Travel's subsidiary, Yilong Network, is acquiring 100% of the shares of Newborn Payment to obtain a payment license, aiming to leverage opportunities in the Hainan Free Trade Port and enhance digital upgrades in cultural and tourism consumption [2][3]. Group 1: Acquisition Details - Yilong Network confirmed the acquisition of Newborn Payment, which is the only licensed payment institution in Hainan, providing a strategic advantage to access favorable policies in the Free Trade Port [2][3]. - Newborn Payment, established in 2008 with a registered capital of 100 million RMB, is one of the first third-party payment companies to obtain a full payment business license from the People's Bank of China [2][3]. Group 2: Business Capabilities - Newborn Payment holds comprehensive payment qualifications, including internet payment, bank card acquiring, prepaid card issuance, and cross-border RMB payment, with potential for future cross-border RMB exchange qualifications [3]. - The acquisition is expected to enhance the synergy between payment functions and the main business, providing users with a smoother and safer payment experience [3]. Group 3: Market Context - The competition for payment licenses has intensified among major internet platforms, with companies like JD.com, Meituan, and ByteDance acquiring payment licenses through similar means [3]. - Ctrip, another major OTA, acquired a licensed payment institution in 2020, indicating a trend among OTAs to integrate payment capabilities into their services [4].