Caifinance News October 15th (Reporter Chen Kang) The cross-border payment sector showed strong performance today, with Zhejiang China Commodities City Group (600415.SH), Huafon Microfibre (300180.SZ), Yusys Technologies (300674.SZ), and Hyunion Holding (002537.SZ) all once hitting the limit up. Zhejiang China Commodities City Group just announced its third-quarter performance yesterday. At the performance exchange meeting this morning, the company explained the transformation direction of Chinagoods and the future expectations for cross-border payment business.

In response to the slowdown in GMV growth rate, the company's relevant person in charge responded, "The GMV statistical indicator is based on placing orders and paying funds on the platform. Since last year, the platform has introduced many third-party platforms such as Alibaba, jd.com, Baidu, etc. The transactions on these platforms cannot be included in the GMV statistics. Starting this year, we believe that GMV can no longer intuitively reflect the platform's growth rate."

The above-mentioned person in charge stated, "The direction of the Chinagoods platform is transitioning from transaction-based to comprehensive service-based. In the future, revenue will mainly come from membership fees and deep service fees, with a focus on increasing the payment rate for service fees. Based on the situation in the first three quarters, the individual profit of the Chinagoods platform is approximately 0.13 billion-0.14 billion yuan, and it will also maintain good growth in the next three years."

"Yiwu Pay" saw a year-on-year growth rate of over 770% in cross-border payment business transactions totaling over 20 billion RMB from January to September 2024. The relevant person at Zhejiang China Commodities City Group's payment company mentioned that in the first three quarters, the company achieved 60.2 billion yuan in domestic transactions, 2.767 billion US dollars in cross-border transactions, with overall revenue exceeding 80 million yuan, and net income surpassing 30 million yuan; the company's basic gross margin is over 80%, and operating costs have stabilized.

The above-mentioned person revealed that Yiwu Pay's international route is expanding. There will be substantive progress in applying for overseas licenses by the end of this year to the first half of next year, which will benefit the company in forming offshore settlement capabilities, enhancing profitability.

Caifinance News reporters learned that in terms of market operation business, rental increases for market operators are continuing. The rent for single-store shops has risen by 10%-20% this year. At the end of last year, the rents in Zones 2 and 3 increased, and the company is formulating rent increase plans for Zone 1 and Zone 4 in the fourth quarter of this year, with perhaps even higher percentage increases.

In addition, part of the global digital trade center's market is planned to open by October next year, with investment attraction to be completed by June 30th next year.

At the seminar, the company mentioned that during this year's National Day, the total customer traffic of Yiwu International Trade City exceeded 1.5 million person-times, a year-on-year increase of 24.2%. The occupancy rates of its eight hotels increased by over 10% year-on-year, and the entire Yiwu city received 2.33 million out-of-town tourists, a year-on-year increase of over 79%.