Zhitong Finance App News, Lianlian Digital (02598) announced that Lianlian Yintong Electronic Payment Co., Ltd., a wholly-owned subsidiary of the company, holds a payment business license issued by the People's Bank of China. According to Article 24 (5) of the “Implementation Measures on Administrative Licenses of the People's Bank of China”, Lianlian Bank Connect has applied to the Zhejiang branch of the People's Bank of China to temporarily suspend the review of the renewal of a long-term valid payment business license.

Suspension of the review is a procedural right clearly granted to payment institutions by the “People's Bank of China Administrative License Implementation Measures”. During the suspension of the review period, the Group's various payment services will continue to be carried out normally, and the safety of customer funds and services will not be affected. The Company anticipates that the suspension of the review will not have a significant adverse impact on the Group's overall business and financial situation. The company will apply to resume the review process for the renewal of a long-term valid payment business license as soon as possible.

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