Linklogis 2025 Performance: Service Supply Chain Asset Scale Exceeds 500 Billion Yuan, Building an 'International Business Second Growth Curve'

On March 31, 2026, Linklogis Technology Group (09959.HK, hereinafter referred to as 'Linklogis') released its 2025 financial performance announcement. In 2025, the company's revenue and income amounted to 980 million yuan; of which revenue and income in the second half of the year increased by 62% quarter-on-quarter to 600 million yuan. The total scale of supply chain assets served by Linklogis for the whole year reached 508.1 billion yuan, representing a year-on-year increase of 27%, with the number of core enterprises served increasing to 3,145. By the end of 2025, Linklogis had cumulatively provided efficient and convenient digital inclusive fintech services to over 430,000 small, medium, and micro enterprises. The company maintained a robust financial position, with cash reserves reaching 4.9 billion yuan and ample liquidity.

In addition, Linklogis has always placed shareholder interests at the core of corporate governance, rewarding investor trust through continuous and substantial measures. In August 2025, the board approved a new share repurchase plan of no less than 80 million US dollars within one year. Under this repurchase plan, the company has cumulatively repurchased shares worth 365 million Hong Kong dollars (approximately 47 million US dollars), demonstrating confidence in its long-term value through concrete actions.

Focus on Core Business, Accelerate Business Structure Optimization

In 2025, Linklogis continued to focus on its core business and accelerate the optimization of its business structure. The total volume of supply chain assets processed by the company’s technology solutions reached 508.1 billion yuan, representing a year-on-year increase of 27%, with a market share of 22% for six consecutive years, firmly ranking first in the industry; the number of core enterprises served by the company further increased to 3,145, including 54 companies from China’s top 100 enterprises and 151 companies from China’s top 500 enterprises, with 428 cooperative financial institutions. The synergy between industrial and financial sectors continued to improve.

The supply chain fintech solutions of Linklogis cover the multi-tier circulation cloud, AMS cloud, and Wisdom Cloud in the core enterprise cloud business, as well as the ABS cloud and e-chain cloud in the financial institution cloud business. By 2025, the total amount of supply chain assets processed by the core enterprise cloud reached 369.6 billion yuan, a year-on-year increase of 31%. Among them, the total supply chain assets processed by the multi-tier circulation cloud amounted to 304.2 billion yuan, an increase of 47% year-on-year, accounting for the group's overall asset size rising from 52% in 2024 to 60% in 2025. However, affected by the continuous contraction in the scale of issuance in the supply chain asset securitization market, the total supply chain assets handled by the AMS cloud business were 65.4 billion yuan, a decrease of 13% year-on-year.

The total amount of supply chain assets processed by the financial institutions cloud reached 128.9 billion yuan, increasing by 20% year-on-year. Both ABS cloud and e-chain cloud recorded double-digit steady growth in trading volume, driving a 25% year-on-year rise in financial institutions cloud revenue. In the ABS cloud business, the company processed a total of 69.1 billion yuan in supply chain assets, up 28% year-on-year. In the e-chain cloud business, the total amount of supply chain assets processed by the company in 2025 was 59.7 billion yuan, an increase of 13% year-on-year.

Linklogis focuses on six key industries including infrastructure/construction, new energy, and high-end manufacturing, and collaborates with its subsidiary Better Technology to deepen precise cross-marketing efforts, achieving breakthroughs in high-quality customer acquisition. Relying on a one-stop comprehensive industry-finance solution and innovative scenario applications, the company deeply mines the value of existing customers, successfully collaborating with several central state-owned enterprises and leading private companies such as Capital Steel Group, China Coal Mine Construction Group, and JA Solar Technology to implement integrated industry-finance platform projects. Meanwhile, it empowers 17 high-quality enterprises like Shanghai Construction Group, Yunnan Construction Investment Group, and Luzhou Laojiao with innovative scenario solutions such as order financing, bill pledging, and direct conversion of supply bills, achieving efficient synergy between scale expansion and value creation.

Building the 'Second Growth Curve,' Unlocking Global Trade Finance Potential

2025 is a pivotal year for Linklogis' international business to embark on a new journey and accelerate the creation of the 'second growth curve.' The company officially launched a complete brand refresh for its international operations, presenting itself globally with the new identity "Unloq," symbolizing the unlocking of potential and efficiency in global trade finance. Unloq’s core strategy centers on 'cross-border trade corridors + scenario finance + technology risk control,' aiming to build a cross-border digital supply chain finance platform with a global network and local execution capabilities.

In line with the core strategy, the company leverages cloud-native technology to innovate and launch the 'SC+' platform, designed to connect global real trade with digital finance. The core function of 'SC+' is to link smart contracts with compliant digital payment tools, creating a technology-driven global trade finance solution. This platform aims to construct next-generation digital infrastructure for global trade finance, solving systemic challenges such as credit verification, capital turnover, and clearing efficiency in cross-border trade. Through this platform, funders can use various compliant payment methods to purchase accounts receivable.

Currently, Unloq has completed the deployment of the core architecture of the SC+ platform and partnered with multiple business collaborators to advance the implementation of innovative applications using compliant digital payment methods. In 2025, the company successfully won a bid for a web3.0-based supply chain finance platform project from a super-large central state-owned enterprise, marking a new level of technological strength and industry recognition in the field of digital trade infrastructure.

In terms of international business, Unloq is accelerating the expansion of cross-border trade ecosystem scenarios. Beyond traditional B2B goods trade, cross-border e-commerce, and online travel, it has added a layout in the cross-border logistics sector, pushing the number of platform ecosystem clients to 1,550, a net increase of 451 year-on-year. As the SC+ platform penetrates deeper into cross-border trade finance scenarios, continues to improve its global localized customer service coverage network, and accelerates the integration of comprehensive solutions for Chinese enterprises going abroad, Linklogis’ cross-border and international business is expected to enter an exponential growth track in scale and revenue by 2026, starting a new chapter of high-quality, sustainable development.

Deepening the 'AI + Industry Finance' Strategy: From Internal Empowerment to Co-Creation of Industrial Value

Linklogis firmly implements the 'AI + Industry Finance' strategy, continuously promoting the deep integration of artificial intelligence technology across the entire supply chain finance process. Based on years of technical expertise and scenario refinement, the company’s AI capabilities have evolved from tools supporting internal cost reduction and efficiency improvement to intelligent empowerment engines for the industrial ecosystem. Through deep integration with mainstream domestic large model capabilities, combined with proprietary knowledge graphs and multimodal business elements in supply chain finance scenarios, Linklogis systematically advances the continuous iteration and capability evolution of its self-developed vertical large model, LDP-GPT. On this foundation, the company has built the 'Honeylink AI Agent' product suite covering over ten core scenarios, including intelligent document review, intelligent registration, intelligent access, and intelligent risk control.

In 2025, the 'Honeylink AI Agent' continued to make breakthroughs in market penetration and commercial value release, serving 42 clients including Standard Chartered Bank, Hangzhou Bank, and China Electronics Equipment Financial Group. These clients are leading financial institutions and industrial giants both domestically and internationally. The business processing efficiency increased 20-fold, with key process accuracy reaching as high as 99%. As AI technology paradigms accelerate towards agent-based evolution, the company will leverage the strategic pivot of 'AI Agent+' to propel 'Honeylink AI Agent' from 'functional empowerment' to a comprehensive upgrade of 'intelligent collaboration.' The focus is on advancing cutting-edge capabilities such as cross-system task scheduling, natural language interaction for decision-making, and adaptive process optimization, enabling clients to achieve end-to-end value empowerment from single-point intelligence to full-domain intelligence, and from business insights to intelligent decision-making.

Linklogis actively responds to the national 'Dual Carbon' strategy and high-quality development requirements by integrating ESG principles into product innovation and the entire service lifecycle. With technological warmth, the company advances green finance, inclusive finance, and sustainable development. In 2025, the scale of sustainable supply chain assets serviced by the company exceeded 66.8 billion yuan, marking an 80% year-on-year increase. This accounts for 13% of the total business scale, up from 9% in 2024. Through its self-developed 'Xunyilian' SaaS platform, small and medium-sized enterprises (SMEs) enjoy average financing costs as low as 2.85%. The company continues to deepen its focus on four key areas: renewable energy, rural revitalization, environmental protection, and public health. It also further expands into sustainable industry chains such as new energy vehicle supply chains, green buildings, and circular economy, channeling funds precisely into crucial green, low-carbon, and socially impactful segments. This effort aims to gradually build a broader and deeper integration of industry and finance within a sustainable development ecosystem.

Accelerate all-scenario vertical layout and improve the smart industry-finance treasury product matrix

Through the acquisition of Better Technology, Linklogis strategically entered the corporate fund management sector. By leveraging deep integration of management teams and business synergies, the company successfully developed the CaiZhiYun product line, offering full-chain fund management services to diverse clients, covering settlement operations, cash planning, financing management, risk monitoring, and intelligent decision-making. As a crucial carrier of Linklogis’s 'Smart Industry-Finance Treasury' strategy, CaiZhiYun focuses on 'AI + data dual-engine drive' as its strategic pivot. It has built a comprehensive product portfolio, including the F1 treasury management system for core enterprises, the T6 cash management system, bank financial systems for financial institutions, and the YingZiLian SaaS platform that empowers SMEs.

Starting September 11, 2025, Better Technology will officially be included in Linklogis's consolidated financial statements, and the full integration of the CaiZhiYun business will be completed. Linklogis will continue to deepen the integration of CaiZhiYun with other supply chain fintech businesses within the group across research and development, channel expansion, and customer service. This effort accelerates the creation of a unified, intelligent, and scalable smart industry-finance treasury platform, providing clients with one-stop digital solutions ranging from cash management to industry-finance synergy.

Song Qun, Founder, Chairman, and CEO of Lianyi Rong:

“2026 marks the tenth anniversary of Linklogis. Standing at the starting point of a new decade, we will adhere to the core strategy of ‘Technology-driven, Global Connectivity’ and steadfastly advance the dual drivers of ‘Deepening Domestic Industrial Finance’ and ‘Global Digital Trade Expansion,’ seizing opportunities amid change and solidifying advantages through innovation. In the domestic market, we will continue to deepen the integration of the 'AI + Industrial Finance' strategy, using the comprehensive upgrade of Honeylink AI Agent as leverage to push artificial intelligence from scenario empowerment toward ecosystem collaboration. Focusing on the full-stack capabilities of smart industry-finance treasury, we will continuously optimize one-stop solutions to consolidate and expand our market-leading position, ensuring healthy and robust growth of our core business. In overseas markets, we are fully committed to expanding Unloq's global network for cross-border digital trade and accelerating the application of the SC+ platform in key global trade corridors, aiming to become a significant builder and connector in the wave of global trade finance digitalization and intelligence.”

The future is here, and only innovators progress; only those who act with determination go far. Linklogis will continue to use technology as the paddle and industry as the vessel, working hand-in-hand with all partners to embark on the grand journey of global industrial finance digitization and intelligence.”

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