LIANLIAN (02598.HK): Wholly-Owned Subsidiary Applies for Temporary Suspension of Payment License Renewal Review

NewTimeSpace News: On 28 August 2026, Lianlian DigiTech Co., Ltd. (stock code: 02598) issued an inside information announcement stating that Lianlian Yintong Electronic Payment Co., Ltd., a wholly-owned subsidiary of the Company, had applied to the Zhejiang Branch of the People's Bank of China (PBOC) for a temporary suspension of the review of the renewal of its long-term effective payment business license, pursuant to Article 24(5) of the Administrative Measures of the People's Bank of China for Administrative Licensing.

According to the announcement, the suspension of review is a procedural right explicitly granted to payment institutions under the Administrative Measures. During the suspension period, all payment businesses of the Group will continue to operate normally, and the safety of customer funds and services will not be affected. The Company expects that the suspension will not have any material adverse impact on the overall business or financial position of the Group, and will apply to resume the renewal review as soon as possible.

The Company will make further announcement(s) in due course on the progress and details of the payment business license review.

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