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

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.

 

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