According to the latest industrial and commercial information, the main body of Douyin payment services, namely Wuhan Hezhong Yibao Technology Co., Ltd. (hereinafter referred to as "Hezhong Yibao"), added two new foreign investment information, 100% control of "Zhuhai Douyin Application Software Development Co., Ltd." and "Wuhan Douyin Technology Consulting Co., Ltd.", with subscribed capital contributions of 1 million yuan and 10 million yuan respectively.
It is not difficult to find in the name of the company that the two companies controlled by Hezhong Yibao have the word "Douyin", and the business they are engaged in may also be related to the Douyin platform. So far, from the perspective of industrial and commercial information, Hezhong Yibao has controlled a total of 3 enterprises. In addition to the above two enterprises, there is also a subscribed capital contribution of 5 million yuan "Beijing Yizhong Chasing Light Technology Co., Ltd."
According to public information, Hezhong Yibao was established in November 2012 and obtained the "Payment Business License" issued by the People's Bank of China in July 2014 to carry out Internet payment business. In August 2020, Zhang Yiming, the founder of ByteDance, became the actual controller of Hezhong Yibao through its affiliated company, Tianjin Tongrong E-commerce Co., Ltd. (hereinafter referred to as "Tianjin Tongrong"), which is also commonly understood as "Douyin's acquisition of a payment license".
On April 3, 2024, Hailian Jinhui, an A-share listed company, issued the "Announcement on the Transfer of Equity of Third-level Wholly-owned Subsidiaries". According to the announcement, Hailian Jinhui has signed the "Equity Transfer Agreement" with Tianjin Tongrong, intending to transfer 100% of the equity of its wholly-owned third-level subsidiary, UMF E-commerce Co., Ltd. (hereinafter referred to as "UMF"), to Tianjin Tongrong, with an appraised value of 1.382 billion yuan of all shareholders' equity.
The announcement also shows that after the completion of the equity delivery of the transfer of UMF, Tianjin Tongrong intends to merge the former through Hezhong Yibao, and the business types of its payment license will be enriched, especially the bank card acquiring qualification that can be carried out nationwide. As the main body of the "Douyin Pay" license, after the completion of the transaction, Hezhong Yibao will be able to provide more support for offline transaction business scenarios such as Douyin Group's life services.
In January this year, the "2023 Annual Data Report" released by Douyin Life Service showed that the total transaction volume of Douyin Life Service Platform will increase by 256% in 2023, with stores covering 370+ cities, more than 4.5 million stores have achieved business growth, the number of settled service providers has increased by 1.79 times, and Daren has helped physical merchants increase their income by 94.6 billion yuan. Obviously, offline scenarios such as Douyin life services have shown their potential, and the order transaction volume behind them will also feed back to payment institutions and achieve a closed business loop within the group.