Zhejiang Jinkai Technology Acquires 65.5% State-owned Equity of Yongyi Payment

TapTechNews August 2nd news, the website of Ningbo Municipal Public Resources Trading Electronic Service System shows that on July 19th, an equity auction transaction announcement showed that the auction of 65.5% of the state-owned equity of Zhejiang Yongyi Electronic Payment Co., Ltd. (hereinafter referred to as Yongyi Payment) has been completed, and the buyer is Zhejiang Jinkai Technology Co., Ltd..

In 2021, 65.5% of the state-owned equity of Zhejiang Yongyi Electronic Payment Co., Ltd. was auctioned off, which was purchased by Shanghai Kuan Yu Digital Technology Co., Ltd. (TapTechNews note: the operating entity of Station B) at a transaction price of 117.9655 million yuan.

However, in February 2024, 65.5% of the state-owned equity of Zhejiang Yongyi Electronic Payment Co., Ltd. was auctioned off again, and the administrative license application of Shanghai Kuan Yu Digital Technology Co., Ltd. was rejected by the Ningbo Branch of the People's Bank of China.

The auction transaction announcement shows that the final transaction price of 65.5% of the state-owned equity of Yongyi Payment is 118.27335 million yuan, which is the same as the starting price and 307,850 yuan higher than the transaction price of Shanghai Kuan Yu Digital Technology Co., Ltd. before.

According to public information, Yongyi Payment was established in July 2011 and is a state-owned holding enterprise in Yuyao, Zhejiang. In June 2012, it obtained the Payment Business License issued by the People's Bank of China. It has a national Internet payment license. In June 2017, Yongyi Payment successfully obtained a renewal, and the renewal time is five years. In June 2022, the central bank disclosed that the license of Yongyi Payment was successfully renewed again, that is, the validity period is until 2027.

TapTechNews found out that the controlling shareholder of Zhejiang Jinkai Technology Co., Ltd. that took away the payment license of Station B is Zhejiang Zhengkai Investment Group Co., Ltd., with a shareholding ratio of 51%, and both are member enterprises of Zhejiang Zhengkai Group. Zhejiang Zhengkai Group was established in 1997 and is engaged in the business service industry, and has been deeply engaged in the two fields of PET materials and textile production for many years.

According to Dahe Caijing Cube, industry insiders guessed that the high price to acquire this payment license may be related to the development of cross-border e-commerce business by Zhejiang Zhengkai Group. At the cross-border e-commerce service event held in Hangzhou last year, the relevant person in charge of the digital marketing department of Zhejiang Zhengkai Group once said: Cross-border e-commerce is the 'big strategy' that the chairman personally grasps, and we, as a global textile production enterprise, begin to build independent stations and explore markets such as Europe and the United States. And obtaining an Internet payment license is exactly an important link in building an independent station and exploring the market for cross-border e-commerce.