In the first half of 2025, the company remained firmly focused on its core business strategy, accelerated transformation and upgrading, and advanced organizational streamlining, which lowered operating expenses. Linklogis continually improved operational efficiency and enhanced cash flow, with cash reserves reaching RMB 5.4 billion, an increase of RMB 300 million from the balance as of December 31, 2024.
Furthermore, Linklogis fully launched its global trade finance digital asset strategy in the first half of 2025. The company introduced its innovative “Stablecoin+” initiative centered on the Digital Trade Token (DTT) and Asset-Backed Token (ABT), laying a forward-looking foundation for global supply chain finance applications and scenarios based on compliant stablecoins.
At the same time, reflecting the Board and management’s confidence in the company’s ability to deliver steady growth around its core strategies of “AI + industrial finance” and digital assets, Linklogis commits to a share repurchase of no less than USD 80 million over the next 12 months.
Multi-tier Transfer Cloud Becomes the Main Growth Engine, Accelerating Business Model Transformation and Upgrade
Amid global macroeconomic fluctuations and ongoing industry adjustments, Linklogis accelerated its business model transformation, continually improving operational efficiency and enhancing cash flow in the first half of 2025, thereby achieving steady and quality-oriented development. During this period, the total transaction volume of supply chain assets processed by its technology solutions reached RMB 203.6 billion.
Linklogis supply chain fintech solutions include Anchor Cloud, which comprises the Multi-tier Transfer Cloud and AMS Cloud, and FI Cloud, which comprises ABS Cloud and eChain Cloud. As the core segment of the company, the Multi-tier Transfer Cloud demonstrated strong performance, processing a total volume of supply chain assets amounting to RMB 133.2 billion, a year-on-year increase of 54%.
In the FI Cloud segment, Linklogis innovative receivables financing solutions for anchor enterprises deepened penetration among major infrastructure customers and expanded into emerging sectors like renewable energy in the first half of the year. In the ABS Cloud segment, the total volume of supply chain assets it processed reached RMB 9.6 billion, representing a sharp increase from the prior year. At the same time, the company concentrated on digital intelligence transformation solutions for financial institutions, strategically downscaling its low-margin business. During this period, the total volume of supply chain assets processed by eChain Cloud was RMB 26 billion.
Linklogis continued to acquire a broad and diverse range of business partners and gradually implemented innovative “de-anchored” scenario solutions on a larger scale. The company has assisted Yunnan Construction and Investment Holding Group, China Railway 25th Bureau Group Corporation Limited, Luzhou Laojiao, Shandong Xingang Group and others in offering financing product solutions without clear debtor’s acknowledgment, which included purchase order financing and receivables e-loan, continuously optimizing its product portfolio. In the first half of 2025, the number of anchor enterprise and financial institution customers for Linklogis supply chain finance technology solutions rose by 244 to reach a total of 1,352, an increase of 22% from 2024. The overall customer retention rate hit 99%, up from 96% in 2024.
“AI + Industrial Finance“ as Dual Growth Drivers, Strategic M&A Expanding Product Matrix
As a leader and pioneer in the supply chain finance technology sector, Linklogis has continued to deploy and make strides in cutting-edge fields such as artificial intelligence and blockchain. The goal is to enhance efficiency and reshape the value system across the entire supply chain through technological innovation, supporting a high-quality inclusive finance system.
In the realm of AI, Linklogis has built a comprehensive full-stack technology matrix centered on supply chain finance. By integrating leading domestic large language models (LLMs) such as DeepSeek and Qwen with its own proprietary knowledge graph and multi-dimensional data, the company has accelerated the upgrade of its vertical model, LDP-GPT, while efficiently integrating and deploying its AI capabilities.
In the first half of 2025, Beelink AI, based on Linklogis LDP-GPT model, has refined several core capabilities, with significant upgrades to two core applications: intelligent trade documents checking and intelligent registration. These enhancements have been deployed as SaaS or on-premises solutions in over 30 anchor enterprises and financial institutions, including Standard Chartered Bank, assisting them in achieving high-quality digital transformation.
In terms of scenario expansion, Linklogis completed the strategic acquisition of Bytter Technology Co., Ltd. (“Bytter Technology”), broadening its product and service matrix and improving operating efficiency to support long-term, steady growth. Bytter’s comprehensive industry-finance treasury matrix provides full-scenario solutions that support the digital transformation of its enterprise customers’ industry-finance platforms. The treasury management solution is built on a layered architecture, underpinned by advanced technologies including cloud computing, big data, and artificial intelligence, providing enterprises with a solid foundation for treasury management.
Looking ahead, the company will continue to advance more strategic mergers and acquisitions to cultivate diversified growth drivers.
Enhancing Global Supply Chain Finance Deployment, Driving Sustainable Value Creation
In the first half of 2025, Linklogis advanced its international expansion, continuing its dual-engine strategy of “Go Early” and “Go Deep”. Cross-border Cloud and international businesses delivered solid performance, with Cross-border Cloud achieving double-digit growth in both asset volume and revenue.
“Go Early” focuses on building a platform-based ecosystem around four key scenarios: cross-border trade, cross-border e-commerce, overseas business travel, and cross-border logistics. By aggregating resources from 12 high-quality platforms, including Infor, Amazon and Shopee, Linklogis has successfully assisted more than 1,100 SMEs in accessing one-stop digital financing services. “Go Deep” emphasizes in-depth, scenario-based services, aiming to create a comprehensive smart supply chain financing system for Chinese outbound enterprises. The system covers the entire chain from cross-border procurement and production to logistics and sales, facilitating efficient global supply chain expansion and accelerating globalization of these enterprises. Meanwhile, by establishing regional operational centers in the United Kingdom and United States of America, Linklogis has created an end-to-end service network for a multi-regional trade corridor that spans Greater China, Southeast Asia, Europe, and North America.
Linklogis upholds its ESG mission of “technology empowering the development of sustainable supply chain finance,” focusing on the innovative integration of digital technology and industry scenarios. Linklogis is committed to driving sustainable industrial upgrades and inclusive finance model innovation through technology, creating sustainable value for the high-quality collaboration between the real economy and digital finance. In the first half of 2025, the assets related to sustainable supply chains (including renewable energy, rural revitalization, environmental protection, and public health) processed by Linklogis surpassed RMB 29 billion, up 97% compared to the same period last year.
Linklogis has assisted over 380,000 SMEs in accessing efficient, convenient, and low-cost digital inclusive finance services. In the first half of 2025, SMEs using the SaaS platform, “Linklogis Supply Chain Multi-tier AR Transfer Platform,” secured financing at an average cost of only 2.86%. In addition to these achievements, Linklogis ESG performance has continued to lead the industry. The company received its first ESG rating from Sino-Securities Index Information Service (Shanghai) and SynTao Green Finance, as well as an “A” rating from Wind, placing it in the top 10% of the software industry. These accomplishments were further recognized with awards such as “Most Outstanding Contribution to Sustainable Development Goals (SDGs) China 2025” and “2025 ESG Model Enterprise.”
Building a Stablecoin Ecosystem, Advancing Global Trade Finance Digitalization
In the first half of 2025, leveraging its extensive technology expertise in digital assets, Linklogis accelerated the market introduction and penetration of innovative products and fully launched its global trade finance digital asset strategy. Building on its extensive blockchain technology implementation and practical experience, the company has built core capabilities in digital asset infrastructure, covering enterprise-grade custody, integrated cross-border payment and settlement, RWA tokenized financing, as well as compliance, risk management, and on-chain supervision.
Since fully advancing its globalization process in 2019, Linklogis has continuously empowered the transformation of cross-border and global trade finance through Web 3.0 technology. In 2020, Linklogis obtained a digital banking license in Singapore and established Green Link Digital Bank with its business partner, enhancing its capabilities in cross-border financial digital services. In 2023, under the guidance of the Hong Kong Monetary Authority (HKMA), the company collaborated with the Bank for International Settlements (BIS), Standard Chartered Bank, and other institutions to develop the Project Dynamo prototype platform. This initiative introduced the pioneering DTT, a programmable digital trade token that integrates smart contracts with standard token protocols to automate payment terms in trade finance, providing an innovative model for global cross-border trade payments and financing. In August of the same year, Linklogis joined forces with Standard Chartered Bank to participate in Project Guardian, led by the Monetary Authority of Singapore (MAS), leveraging asset tokenization technology to create the ABT platform. This platform transforms trade receivables and other real economy assets into tradable and divisible digital assets, successfully launching the industry’s first tokenized product based on trade assets on the Singapore Exchange, thereby validating the feasibility of this technology in the trade finance sector.
As stablecoin regulatory frameworks mature in Hong Kong and worldwide, Linklogis will further integrate its existing overseas and cross-border business layouts to accelerate the innovation and application of digital asset services. In Singapore, the company will work with licensed institutions to advance the compliant issuance of DTT, implementing compliant stablecoin solutions across all scenarios in supply chain finance. In Hong Kong, Linklogis will actively pursue collaborations with stablecoin license applicants to develop the “Stablecoin+” initiative based on compliant stablecoins. Additionally, the company will actively explore innovative applications in supply chain finance scenarios together with global compliant stablecoin issuers, expanding the use of digital assets in real-world asset tokenization, cross-border digital payments, and inclusive finance, thereby empowering the digital and intelligent transformation and upgrading of the global supply chain finance ecosystem.
Charles Song, the founder, chairman, and CEO of Linklogis, said, “Looking ahead, as the global financial system undergoes significant transformation, the integration of AI with compliant stablecoins will not only redefine how cross-border capital flows operate but also provide innovative solutions for enhancing the resilience of the financial system amidst growing global economic uncertainty. Amid historic transformation opportunities, Linklogis, moving forward without burden, will fully concentrate on three core strategies, which are AI + industrial finance, strategic mergers and acquisitions, and digital assets, to build diversified engines of development and achieve sustainable, high-quality growth. Confident in our future prospects, we commit to a share repurchase of no less than USD 80 million over the next 12 months. We will also work to foster a win-win ecosystem with customers and strengthen the foundation for shareholder value.”
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