Lianlian Digital Technology.
The third-party payment company Lianlian Digital Technology Co., Ltd. went to Hong Kong to go public and pass the customs again.
The Hong Kong Stock Exchange disclosed that on March 3, Lianlian Digital Technology Co., Ltd. (hereinafter referred to as "Lianlian Digital") updated its post-hearing information set. This means that Lianlian Digital has officially passed the listing hearing of the Hong Kong Stock Exchange. According to the post-hearing information pack, the company's joint sponsors are CICC and JPMorgan Chase.
Prior to this, on February 18, the International Cooperation Department of the China Securities Regulatory Commission issued a notice on the filing of the overseas issuance and listing of Lianlian Digital Technology Co., Ltd., and Lianlian Digital intends to sell no more than 205942000 shares of overseas listed ordinary shares and list them on the Hong Kong Stock Exchange.
Lianlian Digital was established in 2009, and in 2011, Lianlian Digital's wholly-owned subsidiary, Lianlian Yintong Electronic Payment, obtained a third-party payment license issued by the central bank, and its business scope covers Internet payment and mobile payment. LianLian Digital and American Express jointly established Connect (Hangzhou) Technology Services*** is the first licensed Sino-foreign joint venture bank card clearing institution in China.
According to the prospectus, as of September 30, 2023, the cumulative number of merchants and enterprises with digital services increased to approximately 3.2 million, and the total payment volume ("TPV") of digital payment services for the nine months ended September 30, 2023 reached RMB1,312 billion.
According to the prospectus, Lianlian Digital's total revenue increased from 53.2 billion yuan increased to 736.7 billion yuan, a year-on-year increase of 384%。Losses in 2020, 2021, 2022 and the nine months ended September 30, 2022 and 2023 amounted to 3., respectively68.7 billion yuan, 746.8 billion yuan, 916.9 billion yuan, 648.5 billion yuan and 606.7 billion yuan.
According to the prospectus, as of December 31, 2023, Lianlian Digital has established a global license layout consisting of 64 payment licenses and related qualifications (currently valid or renewing their validity period). The company is able to serve its customers through a global payment network that covers more than 100 countries and supports transactions in more than 130 currencies. LianLian Digital's customers are mainly business customers, including small and medium-sized merchants and enterprises.
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