Lianyi Rong (09959) Mid-term Results for 2026: The Effect of the "AI + Industrial Finance" Strategic Transformation is Released, Achieving Breakthrough Growth in Revenue.

On August 20, Lianyi Rong Technology Group (09959, hereinafter referred to as Lianyi Rong) released its interim results for 2026. In the first half of the year, the company firmly advanced its "AI + industrial finance" strategy, reshaping its revenue structure with AI-native technologies, achieving revenue and profit of 579 million yuan, a substantial increase of 55% compared to the same period last year; the company's net profit attributable to shareholders reached 24 million yuan, a significant improvement of 106% over the last year, successfully turning losses into profits; the total value of supply chain transactions processed by the company's technology solutions was approximately 186.7 billion yuan, a year-on-year increase of 22%, serving 3,856 core enterprises and 468 financial institutions, covering over 450,000 small and medium-sized enterprises in the upstream and downstream of the supply chain, with a customer retention rate consistently high at 99%; the company maintained a sound financial position with cash reserves of 4.5 billion yuan. I. The "AI + industrial finance" strategy continues to take shape, value delivery reshaping growth momentum In the first half of 2026, Lianyi Rong firmly advanced its "AI + industrial finance" strategy, reshaping its revenue structure with AI-native technologies, achieving revenue and profit of 579 million yuan, a significant increase of 55% compared to the same period last year. The total value of supply chain transactions processed by the company's technology solutions was approximately 186.7 billion yuan, an increase of 22% year-on-year, serving 3,856 core enterprises and 468 financial institutions, covering over 450,000 small and medium-sized enterprises in the upstream and downstream of the supply chain, with a customer retention rate consistently high at 99%. Meanwhile, gross profit increased from 210 million yuan in the first half of 2025 to 263 million yuan in the first half of 2026, a year-on-year increase of 25%, closely synchronized with the growth rate of total transaction volume, confirming that under the empowerment of AI-native technologies, the company's scale expansion and core profit growth have formed a positive resonance, with strategic dividends for transitioning to a high-quality, sustainable business system continuing to be released. The company's net profit attributable to shareholders reached 24 million yuan, significantly improving by 106% year-on-year, successfully achieving profitability. The company focuses on AI as the core DRIVER, building a technology solution system deeply integrated with industrial scenarios and financial capabilities, completing the strategic restructuring from "product-driven" to "AI foundation + scenario delivery." By systematically embedding AI into the full chain of industrial finance scenarios, Lianyi Rong launched the full Shenzhen New Industries Biomedical Engineering financial technology solution, delivering quantifiable business results to customers through AI capabilities, promoting the transformation and upgrading of business growth from scale-driven to technology-driven. This solution encompasses two charging models: financing outcome billing and capability unit billing. Under the financing outcome billing model, the company charges technology service fees based on the financing amount obtained by customers through technology solutions, covering various supply chain financial and industrial scenario products such as supply chain bills, domestic letters of credit, decoupled financing, electronic debt vouchers, and asset securitization. The revenue from this model is predictable and scalable, creating positive linkage with customer business growth. The company's market share in this model remains an industry leader, ranking first in the industry for six consecutive years. In the first half of the year, the supply chain transaction volume processed under this model reached 181.2 billion yuan, growing by 22% year-on-year. While steadily growing in scale, high-value product matrices based on AI are accelerating penetration, continuously releasing product structure dividends and promoting revenue and profit growth of 51% year-on-year to 495 million yuan. In the capability unit billing model, the company packages its core AI capabilities (including intelligent marketing, intelligent review, intelligent registration, etc.) into standardized capability units called "SKILL" that can be independently called and flexibly combined. The Fenglian AI Agent, as the flagship product of the capability unit combination output, continues to deepen market penetration. The number of clients served grew significantly by 62%, from 42 at the end of 2025 to 68 in the first half of this year, with the number of landing scenarios expanding to 37, achieving commercialization across six core dimensions: intelligent marketing, intelligent review, intelligent risk control, intelligent operations, intelligent matching, and intelligent collaboration. In various production-finance scenarios of leading core enterprises and financial institutions, the Fenglian AI Agent is evolving from vertical scenario-level intelligence to multi-domain collaborative intelligence, verifying value with quantifiable business results: in a commercial banks centralized operation platform, relying on the intelligent review and intelligent operations capability units, it assisted in review decisions and reshaped business processes, driving a 20% increase in business volume for the platform, while reducing the average time taken for individual transactions by 60%; in a large state-owned enterprise financial company's intelligent application of operations, it achieved fully online automatic risk identification and compliance review based on intelligent risk control and intelligent review capability units, increasing business processing efficiency by 75% and reducing operating costs by 90%. II. In-depth integration with Biter Technology to build full-stack capabilities for industrial finance treasury The industrial finance treasury solution is a comprehensive customized capability base developed by Lianyi Rong around the "AI + industrial finance" strategy, aiming at corporate groups and financial institutions, providing deeply customized industrial finance platform construction and treasury management services. In 2025, the company completed a strategic acquisition and in-depth integration of Biter Technology, merging its core capabilities in enterprise fund management, financial-grade system construction, and complex project delivery with its own industrial finance ecological network and industry-specific AI capabilities, to accelerate the construction of a "smart industrial finance treasury" full-stack product matrix, extending industrial finance services from financing and payment aspects to cover the entire daily operation and fund management scenarios of enterprises, forming a comprehensive service capability that spans the entire value chain. In the first half of the year, the collaboration between the two parties has accelerated from organizational and resource integration to joint product innovation, officially launching two core products: "Smart Finance Cloud Treasury" aimed at banking institutions and "Biter Clean Domain" for growing groups. The industrial finance treasury solution achieved revenue of 52 million yuan, increasing by 146% year-on-year, marking the formation of a tiered product system covering large corporate groups, financial institutions, growth enterprises, and globally operating enterprises. III. Unloq deepens global layout, SC+ creating a new ecosystem for global digital trade finance Unloq, as Lianyi Rongs "second growth curve" in its globalization strategy, achieved revenue and profit of 33 million yuan in the first half of the year, a year-on-year increase of 25%, with a gross margin as high as 92%, demonstrating high profitability and sustainable growth potential. At the same time, Unloq accelerated its global business expansion, with its headquarters in Singapore as the core hub, continuously expanding its strategic layout in key regional corridors such as Greater China, South Asia, Southeast Asia, and Europe and America, extending its business footprint to 37 countries and regions, serving over 2,000 global enterprises. Lianyi Rong fully leverages its advantages in the industrial finance ecosystem, integrating its domestic resources of over 3,000 core enterprise clients with Unloq's localized service capabilities and multi-currency funding channels, creating a full-chain service loop of "customer demand insight localized solution implementation cross-border funding support." The company precisely focuses on the overseas development of the new energy and high-end manufacturing industries, having cooperated with several benchmark clients in the fields of photovoltaics, energy storage, new energy vehicles, and smart home appliances, providing comprehensive digital trade finance services covering cross-border trade and overseas local markets. On this basis, the SC+ platform created by Unloq aims to build the next-generation global trade finance digital infrastructure driven by multi-party trust and rules. In the first half of the year, the SC+ platform made breakthrough progress in ecological co-construction and scenario implementation. Unloq officially became one of the first scene partners for the application of Anchorpoint's compliant stablecoin in trade financing scenarios, successfully landing the first trade financing transaction settled in HKDAP using Anchorpoint in Hong Kong on August 13, 2026, further validating the technical feasibility and business value of the SC+ platform in real trade scenarios and laying the foundation for subsequent scaled applications. Additionally, the company cooperated with Ripple to participate in the BLOOM project led by the Monetary Authority of Singapore (MAS), intensively advancing cooperation in areas such as cross-border trade financing, smart contract functions, programmable settlements, and digital financial infrastructure. Furthermore, the Web 3.0 supply chain finance platform project cooperated with ultra-large state-owned enterprises has completed phase delivery, with planning for subsequent cooperation steadily advancing, aiming to explore deep synergies among smart contracts, AI, and trade finance. IV. Practicing technology for good, the "AI digital colleague" fully permeates In the first half of 2026, Lianyi Rong adhered to a technology-driven approach, promoting the deep integration of ESG concepts into the collaborative practice of sustainable finance and inclusive finance. In terms of sustainable finance, the company systematically enhances its capabilities in green asset identification and carbon footprint tracking based on AI-native technology architecture, accurately guiding financial resources toward sustainable development areas. The total value of sustainable supply chain transactions served exceeded 37.1 billion yuan, a year-on-year increase of 26%. In terms of inclusive finance, the company continuously deepens services for small and medium-sized enterprises, reducing financing thresholds and costs through digital technology, helping over 450,000 small and medium-sized enterprises obtain efficient, convenient, and low-cost digital inclusive financial services, with an average financing cost of just 2.51% through the "Xunyi Chain" platform. While the business steadily develops, Lianyi Rong's ESG performance has reached new heights: the Wind ESG rating rose from A to AA, ranking in the top 6% of the industry, and Huazheng ESG has consistently received an A grade, winning multiple honors, including the "Excellence in ESG Sustainable Development Award" from Gelonghui. At the same time, the company's innovative practices in empowering industrial finance with AI have also gained high market recognition, winning the "2026 Best AI-Driven Supply Chain Finance Platform in China" award, with AI intelligent review cases included in the "2025 China Supply Chain Finance Yearbook," and ranking in the "2026 AI SaaS TOP50," fully demonstrating the market's high recognition of Lianyi Rong's sustainable development capability. Focusing on long-term development, Lianyi Rong continues to deeply embed its self-developed AI application capabilities into the entire chain of business and functional operations, systematically promoting intelligent restructuring of its organization and operations. The Fenglian AI Agent has fully penetrated the front-end business scenarios to the middle and back-office management, becoming every employee's "digital colleague" and the intelligent operational foundation of the entire organization. With a stable workforce, the company achieved a year-on-year revenue and profit growth of 55% through AI-driven process automation and intelligent decision-making, significantly improving operational efficiency. On the research and development front, the company deeply applied AI programming tools to reconstruct development processes, with 90% of the new code generated by AI in the first half of the year, reducing project rollout times from days to hours and driving a year-on-year decrease in R&D expenses by 11% and a 16 percentage point decrease in R&D expense ratio. On the sales front, AI has deeply empowered market expansion, achieving efficient matching of customer profiles and business solutions through intelligent lead excavation and support marketing tools, continually reducing customer acquisition costs. In terms of management functions, the automation ratio of daily administrative processes exceeds 50%, significantly releasing the productivity of functional personnel. Lianyi Rong's founder, chairman, and CEO Song Qun stated, "AI is profoundly reconstructing the underlying paradigm of global industrial finance and cross-border trade, becoming a core variable that defines a new pattern in the industry. Amidst the wave of transformation, Lianyi Rong, as an industry leader and pioneer, will continue to firmly promote the dual-drive strategy of 'AI + industrial finance' and 'global digital financial infrastructure,' with AI-native technology as the core engine, continuously deepening its domestic industrial ecological network, and accelerating the expansion of global cross-border digital trade service territory, maintaining a leading position in a new round of industrial transformation. The company has achieved profitability within the period, and we are confident in stabilizing Lianyi Rong's overall operation on a sustainable profit trajectory, rewarding shareholders' trust with solid performance and returning excellent service to customers' support, and engaging partners in a win-win manner to jointly create a long-term sustainable value future."