Lianlian DigiTech (2598) H2 2024 earnings summary

Executive summary

• Achieved significant milestones in global expansion, including IPO on the Hong Kong Stock Exchange and obtaining key licenses in Luxembourg and Hong Kong for payment and virtual asset trading services.

• Total payment volume (TPV) reached RMB3.3 trillion, up 64.7% year-over-year, serving 5.9 million customers cumulatively.

• Revenue grew 27.9% year-over-year to RMB1,315.0 million, with gross profit margin at 51.9%.

• Adjusted profit (Non-IFRS) was RMB78.7 million, a turnaround from an adjusted loss of RMB403.2 million last year.

Financial highlights

• Revenue: RMB1,314.96 million, up 27.9% year-over-year.

• Gross profit: RMB682.5 million, up 18.2% year-over-year; gross margin 51.9%.

• Loss for the year: RMB166.5 million, narrowed by 74.5% from last year.

• Adjusted EBITDA: RMB-280.3 million, improved by 22.0% year-over-year.

• Adjusted profit (Non-IFRS): RMB78.7 million, compared to a loss of RMB403.2 million last year.

• Total assets: RMB14,538.8 million; total equity: RMB1,235.5 million.

Outlook and guidance

• Plans to further expand global licensing, invest in emerging markets, and enhance technological innovation, especially in AI and Web3.

• Focus on strengthening cross-border payment and compliant financial services, with continued investment in global business footprint.