LianLian DigiTech: A New Era in Cross-Border Payments Begins

Technology Author: EqualOcean News, ChenZhiheng、JiangShan Mar 29, 2024 05:05 PM (GMT+8)

On March 28th, Lianlian Digital (2598. HK) debuted on the main board of the Hong Kong Stock Exchange, marking a significant milestone as the first listed payment institution in my country engaged in the "cross-border payment" sector.

Established in 2009, Lianlian Digital is one of China's pioneering digital technology firms, offering diverse global payment solutions. On its inaugural trading day, Lianlian Digital commenced at HKD 9.80 per share. Throughout the day, its stock price fluctuated between a high of HKD 9.91 and a low of HKD 9.28. Despite initial volatility, the day concluded with a closing price of HKD 9.44 per share, reflecting a 7.63% decline. Trading activity saw Lianlian Digital transact 15.43 million shares, with a total turnover of HKD 150 million. This placed Lianlian Digital's total market capitalization at HKD 10.1 billion, contributing to a Hong Kong stock market capitalization of HKD 3.87 billion.

During the listing ceremony, Chairman Zhang Zhengyu highlighted that Lianlian Digital's successful debut on the main board of the Hong Kong Stock Exchange signifies its entry into the fast-paced realm of the international capital market. He underscored the company's commitment to seizing market opportunities generated by global digitalization post-listing, emphasizing plans to expand its global footprint and foster sustainable value growth.

For enterprises engaging in overseas operations, navigating complex payment structures involving cross-border transactions, foreign currency exchanges, and clearing services can pose challenges. Access to professional payment institutions can significantly ease market entry for Chinese companies and facilitate cross-border commerce.

Cross-border payment institutions play a crucial role in furnishing enterprises with streamlined and efficient payment solutions, thereby empowering Chinese businesses to better cater to overseas consumers and realize enhanced development on the global stage.