LIANLIAN (2598, HK) has recently undergone a series of executive changes.

According to the announcement, Executive Director Xin Jie will step down as CEO of LIANLIAN due to personal reasons, effective from March 2026 upon formal submission of her resignation to the board. Following her departure, the board has proposed appointing Chairman and Executive Director Zhang Zhengyu as the new CEO. The appointment is expected to take effect in March 2026, pending board approval.

Zhang Zhengyu holds a bachelor's degree in computer software from Zhejiang University (July 1989) and a master's degree in public policy and management from the University of Southern California (August 2002). He founded Zhejiang LIANLIAN Technology Co., Ltd. in 2004. From LIANLIAN's founding in 2009 until March 2023, he served as CEO, later becoming Chairman in 2018 and an executive director in June 2023. He oversees the company's overall strategic planning, business direction, and operations.

As of November 1, 2025, Zhang Zhengyu holds a 25.87% stake in LIANLIAN.

Concurrently, the board announced the nomination of current Deputy General Manager Shen Enguang and current President Sun Dali as Co-Presidents, effective November 11, 2025. Once appointed, they will jointly assist the CEO in strategic planning and daily operations.

Shen Enguang, 41, holds a bachelor's degree in Management Information Systems (M.I.S) from Concordia University, Canada, and currently serves as Deputy General Manager of LIANLIAN. Prior to joining, he worked at HSBC and Bank of East Asia. From December 2011 to January 2013, he was Corporate Account Manager at Bank of East Asia (China) Ltd., and from January 2013 to September 2020, he served as Senior Vice President at HSBC China’s Shanghai Xianlesi Plaza Branch.

Shen joined LIANLIAN in September 2020 as a business development researcher. He became Vice President of LIANLIAN International in April 2022 and later Co-CEO in February 2023. In April 2024, he was appointed Deputy General Manager and became CEO of LIANLIAN International in March 2025. He is primarily responsible for global business operations.

Sun Dali, 48, is President of LIANLIAN. He previously held senior roles at China UnionPay (Risk Management Senior Manager), Tonglian Payment (Risk Management General Manager), and Shanghai Tonghua Jinke Investment Holdings (Senior Vice President). He joined LIANLIAN in December 2020 as Senior Vice President and CEO of Domestic Business. Appointed President in April 2024, he assists the CEO in strategic planning and operations while overseeing domestic business management.

Founded in 2009, LIANLIAN obtained a central bank payment license in 2011, offering internet and mobile payment services nationwide. Post-regulatory updates, its license was adjusted to "Stored Value Account Operation (Category I)." Its core businesses include digital payment services (global and domestic), value-added services, and others. In H1 2025, the company reported total revenue of RMB 783 million, gross profit of RMB 410 million (up 26.8% and 25% YoY), operating profit growth of 85% to RMB 63 million, and a stable gross margin of 51.9%.