Financial Community 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), hyunion holding (002537.SZ) and others once hitting the limit up. Zhejiang China Commodities City Group just announced its third-quarter performance yesterday, and at the performance exchange meeting this morning, the company explained the transformation direction of chinagoods and the future expectations of cross-border payment business.

Regarding the slowing GMV growth rate, the company's relevant person in charge responded, 'GMV statistics are 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. Transactions generated on these platforms cannot be counted in GMV. Starting this year, we believe that GMV can no longer intuitively reflect the platform's growth.'

The above person in charge stated, 'The direction of the chinagoods platform is shifting from transactional to comprehensive service-oriented. Future revenues will mainly come from membership fees and deep service fees, with a focus on increasing the payment rate of service fees. Based on the situation in the first three quarters, the individual profit of the chinagoods platform is approximately 0.13 billion to 0.14 billion yuan, and it will also maintain good growth in the next three years.'

'Yiwu Pay' saw a year-on-year increase of over 770% in cross-border payment transaction volume in the first nine months of 2024, exceeding 20 billion RMB. The payment company of Zhejiang China Commodities City Group mentioned that in the first three quarters, they achieved 60.2 billion yuan in domestic transactions, 2.767 billion US dollars in cross-border transactions, overall revenue exceeding 80 million yuan, net income exceeding 30 million yuan; the company's basic gross margin is over 80%, and operating costs have stabilized.

The above person revealed that Yiwu Pay's international route is expanding, and substantial progress will be made in overseas license application by the end of this year or early next year, which will benefit the company in forming offshore settlement capabilities and enhancing profitability.

The financial community reporters learned that in terms of market business operation, the rental increase trend for market operators is still ongoing. The rental increase rate for single-store shops this year is in the range of 10% to 20%, with market rentals in the second and third districts rising at the end of last year. The company is formulating rental increase plans for the first and fourth quarters of this year, with the increase possibly being even higher.

Moreover, the market section of the global digital trade center plans to open in October next year, with commercial recruitment to be completed by June 30th next year.

During the exchange meeting, 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 growth of 24.2%. The occupancy rates of eight affiliated hotels increased by more than 10% year-on-year. The entire Yiwu city received 2.33 million out-of-town visitors, a year-on-year growth of over 79%.