Lianlian's annual revenue reaches 1.7 billion with an operating profit of 2.2 billion: CEO Xin Jie and CFO Wei Ping resign.

Lei递.com 乐天, March 26

LianLian Digital (stock code: “2598”) today released its financial report for the period ended December 31, 2025. The report shows that LianLian Digital’s revenue in 2025 was RMB 1.734 billion, up 31.9% from RMB 1.315 billion in the same period last year.

In 2025, LianLian Digital’s digital payment services revenue was RMB 1.45 billion, up 26% from RMB 1.151 billion in the same period last year; of which, global payment revenue was RMB 1.044 billion, and mainland China payment revenue was RMB 405 million.

LianLian Digital’s value-added services revenue in 2025 was RMB 265 million, up 81.2% from RMB 146 million in the same period last year.

Profit for 2025: RMB 1.662 billion

LianLian Digital’s gross profit in 2025 was RMB 873 million, up 28% from RMB 683 million in the same period last year.

LianLian Digital’s selling and marketing expenses in 2025 were RMB 270 million, general and administrative expenses were RMB 654 million, research and development expenses were RMB 361 million, and other gains were RMB 232 million.

LianLian Digital’s operating profit in 2025 was RMB 2.21 billion, compared with an operating loss of RMB 267 million in the same period last year.

LianLian Digital’s profit for 2025 was RMB 1.662 billion, compared with a loss of RMB 167 million in the same period last year; EBITDA was RMB 2.11 billion, compared with EBITDA of -RMB 525 million in the same period last year; adjusted EBITDA was RMB 2.32 billion, and adjusted net profit was RMB 1.871 billion, compared with RMB 78.69 million in the same period last year.

CEO Xin Jie and CFO Wei Ping step down

LianLian Digital today announced that for family reasons, CEO and executive director Xin Jie and CFO and executive director Ms. Wei Ping have submitted their resignation letters to the board of directors, resigning as the company’s executive director, effective from the date when new executive directors are elected at the company’s forthcoming 2025 annual general meeting.

LianLian Digital’s Chairman and executive director Zhang Zhengyu will take over the CEO role. The board of directors of LianLian Digital has approved the nomination of Shen En’guang and Sun Dali as candidates for executive directors of the company’s board.

LianLian Digital has appointed the company’s deputy chief financial officer Wen Yingse as the company’s chief financial officer. After approval by the board of directors, the appointment is expected to take effect on June 30, 2026.

Zhang Zhengyu, 59 years old, joined the Group in February 2009. From February 2009 to March 2023, he served as CEO, and was reappointed as CEO in March 2026. Zhang Zhengyu has served as Chairman since January 2018. He was appointed as a director in January 2018 and was transferred to an executive director position in June 2023. He is mainly responsible for the company’s overall strategic planning, business direction, and operational management.

Zhang Zhengyu founded Zhejiang Lianlian in 2004, and currently serves as the company’s Chairman. In addition, Mr. Zhang previously served as Chairman of Beijing Tianrongxin Technology Co., Ltd. from May 2012 to January 2018, and served as Chairman of Beijing Tianrongxin Network Security Technology Co., Ltd. from September 2011 to January 2018.

Zhang Zhengyu obtained a Bachelor’s degree in computer software from Zhejiang University in China in July 1989. As of the date of this announcement, Zhang Zhengyu directly holds 117,428,375 shares of unlisted shares, representing 10.44% of the company’s equity. Zhang Zhengyu is deemed to have an interest in 172,217,799 shares of unlisted shares held by Hangzhou Chuanglian Zhixin Investment Partnership (Limited Partnership), representing 15.32% of the company’s equity as of the date of this announcement. Therefore, Zhang Zhengyu is deemed to have an aggregate interest in 25.76% of the company’s equity.

According to the information available, Shen En’guang is 42 years old and is a co-president of the company. Shen En’guang joined the Group in September 2020 as a business development research analyst; from April 2022 to February 2023, he served as Deputy Vice President of Lianlian International; from February 2023 to March 2025, he served as Co-CEO of Lianlian International. In April 2024, Mr. Shen was appointed as the company’s vice general manager; in March 2025, he was appointed as CEO of Lianlian International; in November 2025, he was appointed as co-president of the company. Shen En’guang is mainly responsible for assisting the CEO in coordinating the company’s overall strategic planning and day-to-day operational matters.

Sun Dali is 48 years old and is a co-president of the company. Sun Dali joined the Group in December 2020, serving as Senior Vice President and CEO of Domestic Business; from April 2024 to November 2025, he served as the company’s president, and in November 2025 he was appointed as co-president of the company. He is mainly responsible for assisting the CEO in formulating the company’s overall strategic planning and handling day-to-day management matters.

Ms. Wen Yingse is 37 years old and currently serves as the company’s deputy chief financial officer. Ms. Wen Yingse joined the Group in September 2017. From September 2017 to June 2023, she held positions including finance manager and deputy vice president of finance, responsible for business finance management, driving the integration of finance and operations, and driving business growth. Ms. Wen Yingse was appointed as the company’s audit director in June 2023, and served as deputy vice president of audit from July 2024 to November 2025. From November 2025 to present, she serves as the Group’s deputy chief financial officer, responsible for the company’s internal financial management.

Before joining the Group, Ms. Wen Yingse previously served as a senior auditor at EY Huaming Certified Public Accountants (Special General Partnership) Hangzhou Branch from October 2012 to September 2017, mainly responsible for A-share and H-share IPO audit work, as well as M&A audit work.

As of today’s market close, LianLian Digital’s share price was HKD 5.55, and its market capitalization was HKD 6.123 billion.

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