Gronghui, May 30 | Deutsche Bank released a research report covering consecutive numbers (2598.HK) for the first time, giving it a “buy” rating. The target price for 12 months is HK$11.2. According to the bank, Lianlian Digital is a leading independent digital payment solution provider in China. Through an integrated digital platform, Connect Digital provides digital payment services and value-added services to help merchants and enterprises achieve global capital transfers and sell products and services on major global e-commerce platforms. The bank points out that Lianyan Digital's core competitive advantages are: 1) a global license layout and regulatory compliance framework; 2) a proprietary technology platform designed for complex global commercial transactions; 3) a wide range of global business partners; and 4) a one-stop comprehensive solution platform. As a result, we expect the company to benefit from market opportunities and expand its business size by further increasing total payment for digital payment services (TPV) and revenue from value-added services. The bank expects Lien Digital to continue its strong growth momentum from 2023 to 2026, thanks to the strong competitive advantage of Chinese e-commerce in gaining market share in overseas markets. The bank predicts that the digital TPV compound annual growth rate will reach 22%, with the global payment business growing at a CAGR of 28% and the domestic payment business growing at a CAGR of 22%. Furthermore, the bank expects total revenue to grow from 1,028 billion yuan in 2023 to 2,129 billion yuan in 2026, with a CAGR of 27%.