Linklogis Starts First Quarter with Strong Performance, with the Transaction Volume Reaching RMB96.2 Billion

Shenzhen, China, April 23, 2024 (GLOBE NEWSWIRE) -- On April 23, 2024, Linklogis Inc. (09959.HK, “Linklogis”), a leading supply chain finance technology solution provider in China, released its first-quarter results for 2024. The operational and financial indicators of the company have shown signs of comprehensive recovery and improvement, achieving a strong start to the year. The total transaction volume processed by its technology solutions in the first quarter reached RMB96.2 billion, a year-over-year increase of 45%, reaching a historical high for a single quarter. The number of customers continued to grow rapidly, with an addition of 47 new customers and 122 new partners, bringing the total number of partners to 1,928. 

In terms of financial performance, Linklogis achieved significant year-over-year increases in its revenue and income from principal activities in the first quarter. As of April 22, 2024, the cash reserves of Linklogis reached RMB5.2 billion, an increase of RMB400 million compared to December 31, 2023. 

Additionally, due to ample financial resources, Linklogis reaffirmed its commitment to implementing a share repurchase plan of up to $100 million, continuing to enhance shareholder returns. Previously, due to the better-than-expected performance, dividends, and repurchase plans, Linklogis experienced a surge of over 35% in its stock price after releasing its 2023 annual results, attracting significant market attention.

Transaction Volume Reaches RMB96.2 Billion, with Strong Growth in Core Business Sectors

In 2024, Linklogis continued to focus on the development of its two core sectors: Anchor Cloud and FI Cloud, while simultaneously pursuing stable growth and high-quality development. Regarding the Multi-tier Transfer Cloud within the Anchor Cloud, it continued to maintain rapid growth, processing a total volume of supply chain assets amounting to RMB47.9 billion in the first quarter, a year-over-year increase of 94%.

Linklogis accelerated the replacement of old growth drivers with new ones. Based on its asset-backed securitization and multi-tier transfer products, Linklogis drove the digitization and intelligence of supply chain financial service platform through the output of technological capabilities and service experiences, promoting the healthy, stable, and orderly development of the industry chain of supply chain finance. In the first quarter, Linklogis cooperated with Dongfeng Motor Corporation and helped it build a supply chain finance service platform, which successfully issued the first digital accounts receivable certificate to suppliers. Linklogis also assisted in the establishment of "Liugong Advanced Manufacturing Accounts Receivable Asset Support Plan Phase 1". Besides, the supply chain finance platform jointly built by Linklogis and Hubei United Investment Group successfully landed the first supply chain finance ABS business "CITIC Securities - Hubei United Investment Supply Chain Asset Support Plan Phase 1". Linklogis also landed the first business of the localization project of China Ordins Group’s supply chain finance platform. In addition, Linklogis helped the "Sinomach E-Chain" under China National Machinery Industry Corporation (Sinomach) and the Supplier Relationship Management (SRM) System under SUMEC Group Corporation officially complete the interconnection of data and business, achieving trusted information exchange and realizing functions such as automatic opening, circulation, and financing of digital accounts receivable certificate.