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Lianlian DigiTech Publishes 2023 Annual Report:
Total Payment Volume (TPV) Surged by 74% to RMB2 Trillion
Revenue Increased Significantly by 38%
Adjusted Earning of Core Business was RMB16 Million,
with Dramatic Turnaround in Operating Cash Flow
HONG KONG, May 8, 2024 /PRNewswire/ — Lianlian DigiTech Co., Ltd. (“Lianlian DigiTech” or the “Company“, HKEX: 2598), a leader in China digital payment solution market and global commerce digitalization, today published its 2023 Annual Report. In 2023, the Company’s total revenue amounted to RMB1.030 billion, a year-on-year growth of 38%. The gross profit margin remained at a high level of 56%. Lianlian DigiTech’s own non-GAAP earning amounted to RMB16 million for the year. The Company has registered a significant turnaround to positive operating cash flow of approximately RMB95 million.
With Continuous Optimization of Business Structure, Revenue from Core Businesses Increased Significantly Year on Year
With years of accumulated global license acquisition, strong customer base, and solid product capabilities, Lianlian DigiTech’s core businesses registered growth in 2023. In 2023, the revenue of digital payment services, which accounts for more than 80% of the Company’s total revenue, increased by 39% to RMB870 million. The total payment volume (“TPV”) of the Company’s digital payment services also surged by 74% year-on-year to RMB2 trillion. Among the Company’s digital payment services, the global payment revenue grew by 37% to RMB660 million. The domestic payment revenue increased by 44% to RMB220 million. The value-added services revenue increased by 47% to RMB130 million, and the value-added services emerged as a new growth highlight for the Company.
Number of Active Customers Increased by Over 51% to 1.3 Million, Highlighting the Advantages of One-Stop Service
As of December 31, 2023, Lianlian DigiTech’s global license layout consists of 64 payment licenses and relevant qualifications, covering seven major markets, namely Hong Kong China, Singapore, the United States, the United Kingdom, Thailand, and Indonesia. The Company serves over 100 countries and regions and manages transactions in over 130 currencies.
In 2023, the number of active customers Lianlian DigiTech served reached 1.3 million, a year-on-year growth of 51%. Lianlian DigiTech has created diverse digital payment application scenarios to provide various customer types, including cross-border e-commerce customers, platform and institutional customers, foreign trade customers, and overseas education institutions with one-stop, comprehensive digital solutions.
Looking ahead, Lianlian DigiTech is poised to seize the potential of global trade and the opportunities presented by the digitalization and globalization of Chinese enterprises.
View original content:https://www.prnewswire.co.uk/news-releases/lianlian-digitech-publishes-2023-annual-report-302139120.html
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eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
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