LianLian Reports 617 Million Yuan in H1 2024 Revenue, Up Over 40% Year-Over-Year

August 21, 2024 07:20 PM AEST | By Cision

Google News:

LianLian Reports 617 Million Yuan in H1 2024 Revenue, Up Over 40% Year-Over-Year — Image source: Kalkine Media

Recent News

GP Cellulose Merges Innovation With Responsibility - Utilizing Advance...

Alcoa Schedules Second Quarter 2025 Earnings Release and Conference Ca...

From Refugee to Farmer: Uganda’s Model for Empowering Displaced Commun...

Curiosity Cube Debuts in Africa and Expands Global STEM Mission

HANGZHOU, China, Aug. 21, 2024 /PRNewswire/ -- On August 20, 2024, Hong Kong-listed LianLian (2598.HK) announced its interim results for 2024.

According to the report, LianLian's transaction payment volume (TPV) in the first half of 2024 reached 1.57 trillion yuan, representing a year-on-year increase of 120.1%. During the same period, the company's total revenue rose 40.1% year-on-year to 617 million yuan. Gross profit also grew 20.3% year-on-year to 325 million yuan, with an overall gross profit margin of 52.6%. Additionally, the non-GAAP operating profit stood at 16.66 million yuan, showcasing LianLian's solid financial performance and robust operational capabilities.

Founded in 2009, LianLian's main business is divided into digital payment services and value-added services. The digital payment services encompass both global and domestic payments.

In the first half of this year, LianLian further expanded its global presence, enhanced product innovation, and drove comprehensive and outstanding growth across all business lines. During this period, the TPV of the global payment business reached 102.3 billion yuan, reflecting a year-on-year increase of 35.4%, while total revenue amounted to 372 million yuan, a year-on-year rise of 21.9%. The domestic payment business TPV soared to 1.47 trillion yuan, up 130.1% year-on-year, with total revenue hitting 170 million yuan, an increase of 117.8% year-on-year. Thanks to the traffic contribution from the growth of the digital payment business, total revenue from value-added services also increased 41.2% year-on-year to 67 million yuan.

In addition, in May of this year, LianLian obtained the EMI (Electronic Money Institution) license in Luxembourg. As of June 30, 2024, the company had established a global licensing network comprising 65 payment licenses and related qualifications. This allows LianLian to provide services in over 100 countries and regions, supporting transactions in more than 130 currencies.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.