Gelonghui, April 23 | Lianyirong Technology-W (09959.HK) announced that since the second half of 2023, the Group has made a series of business and organizational adjustments based on the macro environment and industry development, and has achieved positive results. Driven by the rapid growth of the core enterprise cloud, the company performed strongly in the first quarter of 2024, and the total number of transactions processed by the Group's technology solutions increased by 45%. The company's customer base continued to grow steadily, adding 47 new customers and 122 partners during the period. The company accelerated the transformation of old and new development momentum. In the first quarter of this year, the volume of multi-level circulation cloud transactions nearly doubled compared to the same period last year. The company uses its technical capabilities and service experience to promote the digitization and intelligence of supply chain financial service platforms and promote the healthy, stable and orderly development of the supply chain finance ecosystem.
In the first quarter, the company's main business revenue and revenue recorded a significant year-on-year increase. As of April 22, 2024, the company's cash reserves (including cash and cash equivalents and restricted cash) reached RMB 5.2 billion, an increase of RMB 400 million over December 31, 2023.
Additionally, the company's board of directors approved a share repurchase plan of not more than $100 million in March 2024. Based on current sufficient financial resources, the company reaffirms its firm commitment to increase shareholder returns through continuous share repurchases and dividend distribution.