New stock news: Lakala Payment (300773.SZ) submits application to Hong Kong Stock Exchange, aiming to become China's largest independent digital payment service provider by 2024.

According to the disclosure of the Hong Kong Stock Exchange on October 17th, Lakala Payment Co., Ltd. (referred to as Lakala Payment, 300773.SZ) has submitted its listing application to the Main Board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. International as the exclusive sponsor. According to the prospectus, Lakala Payment is a leading provider of digital payment and digital business solutions in Asia. The company focuses on payment as its entry point and is driven by technologies such as big data, blockchain, and artificial intelligence. With insights accumulated over many years in the industry, it has built a wide-ranging digital operational service system, becoming an important partner for small and medium merchants and industry clients to conduct business globally and achieve commercial success. The company has a prominent market position and brand advantage in the Chinese digital payment market. According to Frost & Sullivan data, the total payment volume in the Chinese digital payment market is expected to reach approximately RMB 331.7 trillion by 2024, with independent digital payment service providers accounting for RMB 45.7 trillion. In 2024, the company's total payment volume exceeded RMB 4.0 trillion, with a market share of 9.4% among independent digital payment service providers, ranking first in this segment. The main target of the company's services are small and medium merchants and industry clients. The company provides them with a one-stop payment solution covering online, offline, domestic, and overseas transactions through its self-developed technology system, helping customers securely, efficiently, and easily handle payment needs in different commercial scenarios, payment methods, and currencies. The company is also actively promoting the innovative application of digital currency and assisting clients in achieving end-to-end digital business through comprehensive digital business solutions. As the globalization of customers' operations deepens in recent years, the company continues to expand its business service scope, building a global operation system to support clients' global operations. With multi-track regulatory settlement, vertical SaaS capabilities, overseas bank cards and cross-border networks, and data-driven risk and operation, the company has rapidly grown into a leading provider of digital payment and end-to-end digital solutions in Asia. Service providers in the digital payment market are divided into two categories: independent and non-independent digital payment service providers. Independent digital payment service providers are defined as those that are not owned or controlled by financial institutions and do not rely heavily on affiliated entities (such as large e-commerce platforms or social media platforms) for business. In 2024, the company ranked first in the total payment volume among independent digital payment and end-to-end digital solution providers in Asia, with a market share of 1.1%. In 2024, the total payment volume contributed by independent digital payment service providers in China was RMB 45.7 trillion. In terms of total payment volume, the company was the largest independent digital payment service provider in China in 2024, with a market share of 9.4%. The independent submarket remains fragmented, and the company's leading position reflects its extensive channel connection capabilities, compliant settlement services, vertical SaaS capabilities, and national merchant network. In terms of total payment volume, the company was also the largest independent digital payment service provider in the comprehensive acquiring market in China in 2024, with a market share of 11.7%. It was also the largest independent digital payment service provider in the QR code comprehensive acquiring market, with a market share of 9.3%. In terms of performance, for the six-month periods ending on June 30 of 2022, 2023, 2024, and 2025, the company achieved revenues of approximately RMB 53.61 billion, RMB 59.28 billion, RMB 57.54 billion, and RMB 26.47 billion respectively. During the same period, the net profit/(loss) for the year/period was approximately -RMB 1.438 billion, RMB 4.57 billion, RMB 3.51 billion, and RMB 2.29 billion respectively.