Xingyi Payment, a subsidiary of New World, was fined and confiscated 8.47 million yuan

NightAirdropper · 2026-02-27T01:26:46+00:00

Fujian Xingyi Payment, a subsidiary of Newland, was fined 5.05 million yuan by the People's Bank of China for violating regulations on acquiring business, and illegal gains of over 3.41 million yuan were confiscated. At the same time, the responsible person, Lin, was fined 190,000 yuan. Newland holds a total of 80% of Xingyi Payment's equity.

NightAirdropper

2026-02-27 01:26:46

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Recently, due to violations of the acquiring business management regulations and transactions with unidentified customers, Newland (000997.SZ) subsidiary Fujian Xingyi Payment Technology Co., Ltd. was penalized by the People’s Bank of China Fujian Branch. The company received a warning, had illegal gains of 3,421,878.39 yuan confiscated, and was fined 5.05 million yuan. Lin (Fujian Xingyi Payment Technology Co., Ltd.) was fined 190,000 yuan for being responsible for the illegal activities.

Tianyancha shows that Newland directly holds 60% of Xingyi Payment and indirectly holds 20%, totaling an 80% stake in Xingyi Payment. (Jiemian News Reporter Feng Lijun)

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