研報掘金丨中信建投:連連數字為全球佈局領先的跨境支付服務商,首予“增持”評級
中信建投證券研報指出,連連數字是中國首批在全球範圍內提供跨境支付的公司之一,Frost & Sullivan預計中國跨境數字支付市場2022-2027年預計複合增速25.2%,公司有望受益於行業增長。憑藉先發優勢積累了牌照和客户壁壘,公司已經獲批65項支付牌照及相關資質,累計服務590萬家商户及企業,2024年數字支付流水達到3.3萬億元,成為行業龍頭。公司核心業務分為數字支付(境內/全球)與增值服務。全球支付涵蓋收單、收付款、匯兑等,通過虛擬賬户體系解決跨境電匯費用高、開户難等痛點,費率(0.29%-5.5%)顯著高於境內支付(0.01%-1.1%)。2020-2024年全球支付收入從3.78億元增至8.08億元,複合增速20.9%。另外,公司近日取得香港VATP牌照,有望加強web3佈局,完善數字支付生態。預計公司2024~27年收入的年複合增速為 14.3%,首次覆蓋給予“增持”評級。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.