Core Insights - The acquisition of the MSO license marks a significant advancement for the company in the cross-border payment sector, enabling compliant cross-border fund settlement and foreign exchange services [1] - The MSO license enhances the company's global service capabilities and financial technology strength, aligning with its overall strategic planning and long-term development needs [1] - The core revenue logic of the MSO license business is derived from "exchange rate differences + service fees," which includes charging clients for cross-border payment services and earning from foreign exchange position adjustments [1] - The MSO license does not have a total quantity limit, but its scarcity is reflected in the "substantial compliance threshold" [1]

Core Viewpoint - The core revenue of the MSO license business for the company comes from "exchange rate differences + service fees," indicating a dual revenue stream from cross-border payment service fees and foreign exchange position adjustments [1] Group 1: Business Development - The company is currently in the cultivation phase of its MSO license business, with expectations for continued growth as customer accumulation and scenario expansion occur [1] - Guangdong, as China's largest foreign trade province, is projected to have a total import and export volume exceeding 9 trillion yuan in 2024, providing a broad space for business development [1]