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Douyin Calls Off Linkedpay Acquisition After Target's Payment License Faces Renewal Suspension
1 day ago /
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Author：小编
Hailian Jinhui disclosed that on September 29, 2026, it received the 'Notification of Termination of the Equity Transfer Agreement' from Tianjin Tongrong. Consequently, both parties mutually agreed to terminate the planned acquisition of Linkedpay—a payment - licensed entity under Hailian Jinhui's umbrella—by Tianjin Tongrong. Earlier, owing to specific regulatory factors, Linkedpay encountered a suspension in the renewal process of its payment license at the close of August in the same year. It's worth noting that this termination won't bring about any direct financial gains or losses for the company. Moving forward, Hailian Jinhui will persist in operating its third - party payment business as usual.
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