Lianlian DigiTech Reports 64.7% Surge in Digital Payment TPV for 2024, with Adjusted Operating Profit Soaring
HANGZHOU, China, March 19, 2025 /PRNewswire/ -- Lianlian DigiTech, a global leader in digital payment and fintech solutions, announced its annual financial results for 2024 on March 18, 2025.
As of December 31, 2024, Lianlian DigiTech's total payment volume (TPV) for its digital payment business reached RMB 3.3 trillion, representing a 64.7% year-on-year increase. The Company expanded its client base to 5.9 million, with revenue rising 27.9% year on year to RMB 1.315 billion. Gross profit grew 18.2% to RMB 683 million, maintaining a healthy gross margin of 51.9%. Notably, the Company achieved a remarkable turnaround in profitability, with adjusted net income of RMB 78.7 million, compared to an adjusted net loss of RMB 403 million in 2023.
Xin Jie, Executive Director and CEO of Lianlian DigiTech, stated, "2024 marked a pivotal chapter for Lianlian DigiTech, crowned by our successful Hong Kong IPO and strong financial performance. Strategic investments in global licensing, compliance frameworks, service excellence, and client acquisition have accelerated our international footprint while establishing a foundation for scalable growth. Building on this momentum, we will capitalize on our comprehensive licensing portfolio and advanced technologies—spanning AI and blockchain—to fortify core competencies and infrastructure. Simultaneously, we're unlocking technology's transformative power to streamline operations and empower customer success. As a publicly listed company, Lianlian remains focused on optimizing resource allocation, systematically broadening market reach, and elevating service capabilities to deliver exceptional customer experiences. The initiatives underscore our unwavering commitment to creating sustainable shareholder value through innovation-driven expansion."
Wei Ping, CFO of Lianlian DigiTech, said, "Our consistent revenue progression this year highlights successful diversification into emerging business verticals. The financial report indicates double-digit revenue growth, with core operating profit—excluding one-time IPO-related charges and non-cash equity compensation expenses—demonstrating significant year-on-year improvement. This reflects our disciplined capital allocation strategy, balancing strategic investments in innovation, licensing, and new business ventures with rigorous expense control. The IPO proceeds and strategic partnership with American Express have fortified our capital structure, paving the way for future growth and expansion."
Strategic Synergy of Internal and External Resources Drives 60%+ Global & Domestic Payment TPV Growth in 2024
Founded in 2009, Lianlian DigiTech is a pioneer in China's digital technology sector, offering a wide range of payment solutions globally. The Company was listed on the Main Board of The Stock Exchange of Hong Kong Limited on March 28, 2024, and its core business spans digital payment services—including collections, payments, acquiring, remittance, virtual bank cards, and aggregated payments—and value-added services such as digital marketing, operational support, customer acquisition, accounts and e-wallets, and software development.
During the reporting period, Lianlian DigiTech's revenue was mainly contributed by its digital payment services across both cross-border and domestic channels, which generated RMB 1.151 billion, a year-on-year increase ...
