On September 30, Hailian Jinhui announced that it had received Tianjin Tongrong's “Letter Concerning the Termination of the Equity Transfer Agreement” and that after friendly negotiations between the two parties, Tianjin Tongrong's joint acquisition of Hailian Jinhui's payment license company was terminated. According to public information, Tianjin Tongrong is a company within the Douyin system. Earlier, at the end of August this year, the renewal of the payment license was suspended due to the circumstances stipulated in Article 24 of the “People's Bank of China Administrative License Implementation Measures”.

On September 30, Hailian Jinhui announced that it had received Tianjin Tongrong's “Letter Concerning the Termination of the Equity Transfer Agreement” and that after friendly negotiations between the two parties, Tianjin Tongrong's joint acquisition of Hailian Jinhui's payment license company was terminated. According to public information, Tianjin Tongrong is a company within the Douyin system. Earlier, at the end of August this year, the renewal of the payment license was suspended due to the circumstances stipulated in Article 24 of the “People's Bank of China Administrative License Implementation Measures”.