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 of 31.6%. The growth reflects the success of the Company's deep integration of internal and external resources.

Empowering Cross-Border Market Expansion, Lianlian DigiTech Sees a 63% Surge in Global Payment TPV. 

Lianlian DigiTech continued to lead in global payments by advancing its pioneering global licensing strategy, expanding its regulatory footprint, and strengthening cross-border ecosystems to drive efficient trade flows. The company's relentless focus on compliance and connectivity delivered exceptional results: global payment TPV surged 63.1% year-on-year to RMB 281.5 billion, while revenue climbed 23.1% to RMB 808 million as of December 31, 2024.

In 2024, Lianlian DigiTech further diversified its global collection and payment channels, fostering synergies between clients and emerging platforms. The Company provided tailored, differentiated payment solutions to help these platforms navigate cross-border trade challenges, improve trade efficiency, and expand their global market presence. Leveraging its advanced technological infrastructure, Lianlian DigiTech created diverse digital payment scenarios, offering one-stop, customized solutions to clients worldwide. In the service trade and B2B sectors, the Company focused on China's unique industrial heartlands, gaining deep insights into business needs. By iterating its product offerings based on market feedback, Lianlian DigiTech delivered targeted cross-border payment solutions, helping businesses of all sizes and across all industries overcome payment bottlenecks and enhance operational efficiency.

Reinforcing its Role as a Digital Transformation Partner, Lianlian DigiTech Recorded RMB 3 Trillion in Domestic Payment TPV.

As of December 31, 2024, the Company's domestic payment TPV skyrocketed 64.9% year-on-year to RMB 3 trillion, while revenue surged 57.1% to RMB 343 million, driven by its synergistic global strategy, cross-border infrastructure, and ecosystem integration.

In 2024, Lianlian DigiTech accelerated innovation with the rollout of digital marketing suites and enterprise-grade wallets, expanding its service portfolio to help clients achieve both digital transformation and international growth. Its digital marketing business provided omnichannel solutions across online and offline scenarios, while the enterprise-grade wallet was transformed from a payment tool into a value-driven platform supporting the business travel, hospitality, recycling, and logistics sectors. By integrating end-to-end financial workflows—from expense management and cross-border disbursements to treasury optimization—the Company empowered clients to streamline operations and unlock new growth models.

The strategic push into high-value services also yielded results: value-added service revenue climbed 9.5% year-on-year to RMB 146 million, buoyed by strong demand for data-driven marketing tools and a surge in virtual card transaction volumes.

Strengthening Competitive Moats through Differentiation

Continued Investments in Global Licensing, Technology, and Service Innovation

As globalization accelerates and cross-border trade intensifies, the cross-border payment market continues to experience rapid growth, evolving into a diverse and competitive landscape. Serving as the vital link between consumers, merchants, and supply chains, Lianlian DigiTech has cracked the code to thriving in this dual-edged market.

By hyper-focusing on underserved small and micro businesses and trade clients—while forging deep alliances across e-commerce ecosystems—the fintech leader has cultivated unmatched insights into evolving demands and industry pain points. This frontline intelligence fuels its innovation engine, enabling the Company to deploy a global license network, AI-driven platforms, and modular payment solutions that create towering barriers to entry.

Expanding Global Payment Footprint with Key Licensing Milestones. 

In May 2024, the Company secured the Electronic Money Institution (EMI) license in Luxembourg, expanding its European footprint beyond VAT compliance and collections for e-commerce platforms. The credential enables cross-border fund management, e-wallet issuance, and remittance solutions in partnership with regional players—a strategic pivot toward end-to-end financial ecosystems. In December, DFX Labs Company Limited, a wholly-owned subsidiary of Lianlian DigiTech, was issued the Virtual Asset Trading Platform (VATP) license issued by the Hong Kong Securities and Futures Commission. The achievement represented Lianlian DigiTech's significant move into the virtual asset sector, laying the groundwork for future growth in digital asset financial services.

The Company's 2024 financial report showed its extensive global business presence and licensing coverage. Among Chinese digital payment solution providers, Lianlian DigiTech stands out as the only company holding money transfer licenses in all 50 U.S. states. As of December 31, 2024, the Company had established a global network of 65 payment licenses and related qualifications, alongside its VATP license. This enables Lianlian DigiTech to provide services in over 100 countries and regions, supporting transactions in more than 130 currencies.

From internal cost-effectiveness to external customer empowerment, investments in technology and service innovation continue to increase.

As a technology-driven digital payment company, Lianlian DigiTech has seamlessly integrated cutting-edge AI technologies to refine its product offerings, significantly improving user experience and operational efficiency through intelligent solutions. This not only bolsters businesses' digital and intelligent transformation but also delivers enhanced value to customers with a new intelligent payment experience. According to the financial report, Lianlian DigiTech's R&D investment reached RMB 319 million in 2024, marking a 19% year-on-year increase, reflecting the company's unwavering dedication to technological innovation.

Leveraging its expertise in big data, AI, cloud computing, and blockchain, Lianlian DigiTech has developed a proprietary technology platform tailored to the complexities of global trade. The platform offers customers one-stop integrated services, including payments, money transfers, global fund distribution, intelligent exchange processing, and risk management, addressing the diverse needs of businesses of all sizes and across all industries. In 2025, Lianlian DigiTech has further embraced technological advancements by deploying the DeepSeek large model across key scenarios including business operations, R&D, and office workflows. The Company has integrated DeepSeek's large language model (LLM) capabilities into its LOOP AI merchant application. The integration of DeepSeek's precise natural language interaction and scenario perception enables LOOP AI to generate accurate, engaging, and context-aware content for cross-border merchants, enhancing product visibility and sales conversion on the Amazon platform and all major search engines. The innovation helps to deliver significant growth in merchants' cross-border trade businesses.

China's 2025 Government Work Report outlines several key initiatives including "reinforcing policies to stabilize foreign trade and assist businesses in securing orders and expanding markets," "fostering the growth of cross-border e-commerce," "advancing high-caliber development of the Belt and Road Initiative," and "deepening multilateral, bilateral, and regional economic cooperation."

In alignment with these national development priorities, Lianlian DigiTech will refine its global strategy, accelerating the growth of its international licensing portfolio while deepening its engagement within key cross-border e-commerce platforms. The fintech company will enhance its product offerings through ongoing optimization, strengthen collaborations with supply chain partners, and leverage its integrated global network to diversify payment solutions for broader commercial applications. These strategic imperatives—coupled with improved ecosystem connectivity—will advance the company's objective to facilitate China's next phase of economic liberalization and foster robust cross-border trade relationships.

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