Lianyirong (09959) announced its performance in 2025: the asset scale of the service supply chain exceeds 500 billion yuan, and innovatively launched the "SC+ platform."

On March 31, 2026, Lianyi Rong Technology Group (09959, hereinafter referred to as "Lianyi Rong") released its 2025 performance announcement. In 2025, the company's revenue and earnings were 980 million yuan; among them, revenue and earnings in the second half of the year increased by 62% to 600 million yuan. Lianyi Rong's total supply chain assets reached 508.1 billion yuan in 2025, a year-on-year increase of 27%, with the number of core companies served increasing to 3,145. By the end of 2025, Lianyi Rong had provided efficient and convenient digital inclusive financial technology services to more than 430,000 small and medium-sized enterprises. The company maintains a solid financial position, with cash reserves of 4.9 billion yuan and ample liquidity. In addition, Lianyi Rong has always placed shareholder interests at the core of its corporate governance, and has shown its confidence in its long-term value through continuous and substantial measures to repay investor trust. In August 2025, the board of directors approved a new share repurchase plan of not less than US$80 million within a year. Under this repurchase plan, the company has repurchased shares totaling 365 million Hong Kong dollars (approximately US$47 million), demonstrating confidence in its long-term value through concrete actions. Focusing on core business and accelerating business structure optimization In 2025, Lianyi Rong continued to focus on its core business and accelerate the optimization of its business structure. The total supply chain assets handled by the company's technology solutions reached 508.1 billion yuan, an increase of 27% year-on-year, with a market share of 22%, ranking first in the industry for six consecutive years. The number of core companies served by the company further increased to 3,145, including 54 of China's top 100 companies and 151 of China's top 500 companies, with 428 cooperating financial institutions and an increasing synergy in industrial finance. Lianyi Rong's supply chain financial technology solutions cover multiple levels of circulation cloud, AMS cloud, and financial intelligence cloud in the core enterprise cloud business, as well as ABS cloud and e-chain cloud in the financial institution cloud business. In 2025, the total supply chain assets handled by the core enterprise cloud reached 369.6 billion yuan, an increase of 31% year-on-year. Among them, the total supply chain assets handled by the multi-level circulation cloud reached 304.2 billion yuan, an increase of 47% year-on-year, accounting for 60% of the group's total assets, up from 52% in 2024; however, due to the continuous contraction of the supply chain asset securitization market, the total supply chain assets handled by the AMS cloud business decreased by 13%. The total supply chain assets handled by the financial institution cloud reached 128.9 billion yuan, an increase of 20% year-on-year, with both ABS cloud and e-chain cloud transaction volumes recording steady double-digit growth, driving a 25% year-on-year increase in financial institution cloud revenue. In the ABS cloud business, the total supply chain assets handled by the company reached 69.1 billion yuan, an increase of 28% year-on-year. In the e-chain cloud business, the total supply chain assets handled by the company in 2025 reached 59.7 billion yuan, an increase of 13% year-on-year. Lianyi Rong focuses on six key industries including infrastructure/construction, new energy, and high-end manufacturing, and deepens precise cross-marketing cooperation with its subsidiary Bytetechnology to achieve high-quality customer acquisition breakthroughs; relying on an integrated comprehensive production and finance solution and innovative scenario applications, the company deeply explores the value of existing customers, and successfully landed comprehensive production and finance platform projects with several central SOEs and leading private enterprises, while accurately empowering 17 high-quality enterprises with innovative solutions such as order financing, bill pledging, and direct bill transfer, achieving efficient collaboration for scale expansion and value creation. Building the "Second Growth Curve" and unlocking the potential of global trade finance In 2025, Lianyi Rong embarked on a new journey for its international business, accelerating the key year of building the "Second Growth Curve". The company officially launched a comprehensive rebranding of its international business under the brand "Unloq," symbolizing the unlocking of the potential and efficiency of global trade finance. Unloq's core strategy of "cross-border trade corridor + scenario finance + technology risk control" aims to build a cross-border digital supply chain finance platform with a global network and local execution capabilities. Around this core strategy, the company launched the "SC+" platform with cloud-native technology, aiming to connect global real trade with digital finance. The core function of "SC+" is to link smart contracts with compliant digital payment tools, creating a technology-driven global trade finance solution. The platform is dedicated to building the next generation of global trade finance digital infrastructure, solving systemic issues such as credit verification, fund circulation, and clearing and settlement efficiency in cross-border trade. Through this platform, investors can use various compliant payment methods to purchase receivables. Currently, Unloq has completed the core architecture deployment of the SC+ platform and is working with multiple commercial partners to promote innovative applications using compliant digital payment methods. In 2025, the company successfully bid for a large-scale state-owned enterprise project based on web3.0 supply chain finance platform, marking a new level of technological strength and industry recognition in the field of digital trade infrastructure. In terms of international business, Unloq is accelerating the expansion of its cross-border trade ecosystem. In addition to traditional B2B goods trade, cross-border e-commerce, and online travel, it is expanding into the field of cross-border logistics, bringing a net increase of 451 new customers to the platform, totaling 1,550. With the deep deployment of the SC+ platform in the cross-border trade finance scene, the continuous improvement of the global localized customer service network, and the accelerated integration of comprehensive solutions for Chinese enterprises going global, Lianyi Rong's cross-border and international business is expected to enter a trajectory of exponential growth in scale and revenue in 2026, opening a new chapter of high-quality and sustainable development. Deepening the "AI + Industrial Finance" strategy, from intrinsic empowerment to co-creation of industrial value Lianyi Rong is committed to the "AI + Industrial Finance" strategy, continuously promoting the deep integration of artificial intelligence technology with supply chain finance. With years of technological expertise and scenario refinement, the company's AI capabilities have evolved from being tools to support internal cost reduction and efficiency enhancement, to becoming an intelligent empowerment engine for the industrial ecosystem. By deeply integrating mainstream large-scale model capabilities, combining its proprietary supply chain finance scenario knowledge graph with multimodal business elements, Lianyi Rong has advanced the continuous iteration and evolution of its self-developed vertical large-scale model LDP-GPT. Based on this, the company has created the "BeeAI Agent" product matrix covering intelligent audit, intelligent registration, intelligent admission, intelligent risk control, and more than 10 core scenarios. In 2025, the "BeeAI Agent" continued to make breakthroughs in market penetration and business value release, serving 42 customers, including institutions such as Standard Chartered Bank, Bank of Hangzhou, and China Electric Equipment Finance Group. The efficiency of business processing increased by 20 times, with a key accuracy rate of up to 99%. With the accelerated evolution of AI technology towards an Agent paradigm, the company will focus on "AI Agent+" as a strategic pivot, promoting the comprehensive upgrade of "BeeAI Agent" from "functional empowerment" to "intelligent collaboration," with a focus on breaking through cutting-edge capabilities such as cross-system task scheduling, natural language interaction decision-making, and adaptive process optimization, to empower customers with full-domain intelligence and intelligent decision-making throughout the entire value chain. Actively responding to the country's "dual carbon" strategy and high-quality development requirements, Lianyi Rong has integrated ESG concepts into product innovation and full-service processes, promoting green finance, inclusive finance, and sustainable development through technology. In 2025, the total sustainable supply chain assets served by the company exceeded 66.8 billion yuan, an 80% increase year-on-year, accounting for 13% of the total business scale, up from 9% in 2024; through its self-developed "Xunyi Chain" SaaS platform financing for small and micro enterprises, the average financing cost is only 2.85%. The company continues to focus on renewable energy, rural revitalization, environmental protection, and public health, while expanding further into the sustainable industrial chain tracks of new energy vehicles, green buildings, circular economy, and other sectors, directing funds into key areas of green low-carbon and socially beneficial initiatives to gradually build a comprehensive sustainable development ecosystem combining industry and finance. Accelerating comprehensive depth layout across all scenarios, improving the intelligent production finance treasury product matrix Through the acquisition of Byte Technology, Lianyi Rong strategically entered the enterprise treasury management field and successfully built the Financial Intelligence Cloud product line, providing comprehensive treasury management services covering settlement operations, fund planning, financing management, risk monitoring, and intelligent decision-making for diverse customers. As an important carrier of Lianyi Rong's "Intelligent Production Finance Treasury" strategy, the Financial Intelligence Cloud, driven by "AI + data dual engines," has established a range of products for core enterprises, including the F1 treasury management system, the T6 fund management system, the bank treasury system serving financial institutions, and the Yinging SaaS platform empowering small and medium enterprises. Starting from September 11, 2025, Byte Technology has been officially included in Lianyi Rong's consolidated financial statements, and the integration of the Financial Intelligence Cloud business has been fully implemented. Lianyi Rong will continue to deepen the integration of Financial Intelligence Cloud with other supply chain financial technology businesses in terms of product development, channel expansion, and customer service, accelerating the creation of an integrated, intelligent, and scalable intelligent production finance treasury platform, providing customers with a one-stop digital solution from fund management to production and finance coordination. Lianyi Rong's founder, chairman, and CEO, Song Qun, said: "2026 marks the tenth anniversary of Lianyi Rong's establishment. Standing at the starting point of a new decade, we will focus on 'technology-driven, global connectivity' as our core strategy, steadfastly advancing the 'deepening of domestic industrial finance' and 'expansion of global digital trade' dual-drive, seizing opportunities in transformation and solidifying advantages in innovation. In the domestic market, we will continue to deepen the integration of the 'AI + Industrial Finance' strategy, upgrading the BeeAI Agent as a key driver for advancing artificial intelligence from scenario empowerment to ecosystem collaboration; focusing on the full-stack capabilities of the intelligent production finance treasury, continuously optimizing one-stop solutions, consolidating and expanding our leading market position to ensure healthy and steady growth of the fundamental business. In the overseas market, we will strive to expand the global network of cross-border digital trade under the Unloq brand, accelerate the application of the SC+ platform in key global trade corridors, and aspire to become an important builder and connector in the global trade finance digitization wave. The future is already here, and only innovators will advance, only those who persevere will go far. Lianyi Rong will continue to use technology as a rudder, industry as a boat, working closely with partners to embark on a grand journey of digitalization and intelligence in global industrial finance."