Blue Whale News, November 21st (Reporter Huang Yujie Zhang Shuwei), on November 21st, Blue Whale News noticed that Rendong Holdings Co., Ltd. (referred to as "Rendong Holdings", 002647.SZ) issued an announcement regarding the increase and decrease of capital of its subsidiary.

According to the announcement, at the third meeting of the sixth board of directors of Rendong Holdings, it was resolved to approve Rendong Holdings to increase the capital of Guangzhou Helike Technology Service Co., Ltd. (referred to as "Helike Technology") by RMB 0.2 billion, Helike Technology to increase the capital of Guangzhou Helibao Payment Technology Co., Ltd. (referred to as "Helibao") by RMB 0.2 billion, and to reduce the registered capital of the company's holding subsidiary Minsheng Leasing Co., Ltd. (referred to as "Minsheng Leasing") by RMB 0.314 billion.

In other words, after the capital increase, the registered capital of Helike Technology will increase to RMB 0.311 billion, the registered capital of Helibao will increase to RMB 0.3 billion, and the registered capital of Minsheng Leasing will be changed to RMB 0.286 billion.

Rendong Holdings stated that after this capital increase, Helike Technology will still be a wholly-owned subsidiary of the company, and Helibao will remain a subsidiary controlled by Helike Technology. This capital increase is in line with the regulatory requirements of the payment industry and the company's strategic planning, meeting the actual needs of the subsidiary Helibao's business expansion, which will further enhance Helibao's comprehensive competitive strength, benefit the company's focus on the third-party payment main business, and promote high-quality and sustainable development.

At the same time, Rendong Holdings emphasized that the reduction of Minsheng Leasing's capital is also beneficial for further optimizing the company's industrial structure, focusing on the development of the third-party payment main business, will not lead to changes in the company's consolidated financial statements scope, will not have a significant impact on the company's financial condition, and there is no situation that harms the interests of the company and all shareholders.

Rendong Holdings was established in 1998 and went public in 2011. As a fintech company, Rendong Holdings is dedicated to providing services to small and micro enterprises and individual businesses, mainly engaged in third-party payment business. According to the 2024 interim report data, during the reporting period, Rendong Holdings' third-party payment business achieved revenue of 0.623 billion yuan, accounting for 92.79% of total revenue.

Among them, the main operator of the third-party payment brand is Helibao. Helibao was established in July 2013, headquartered in Guangzhou, a subsidiary controlled by Helike Technology. It was acquired by Rendong Holdings in 2017 and renewed its payment license in 2019. Helibao holds the "Payment Business License" issued by the People's Bank of China, with business types including Class I stored value account operations, Class I payment transaction processing, covering the entire country, and having qualifications for cross-border RMB business.

According to the official website content, Helibao focuses on industries such as smart retail, financial technology, cross-border, e-commerce virtual, aviation tourism, and education, providing payment and value-added services. Offline products include intelligent POS, large POS, and electronic signature POS. Blue Whale News understands that Helibao's main business targets offline small and micro merchants.

In terms of performance, in the third quarter of 2024, Hellobike achieved revenue of 0.863 billion yuan and net income of 25.47 million yuan. As of September 30, 2024, the total assets of Hellobike amounted to 3.488 billion yuan, with net assets of 0.817 billion yuan.