Hong Kong-listed fintech company establishes business in Lithuania

The Hong Kong-listed fintech company China Binary New Fintech Group is establishing its business in Lithuania.

Figures from Lithuania’s Center of Registers show Goopal Pay, a company solely owned by China Binary New Fintech Group, was registered in Lithuania on Aug 08 and isled by Chinese citizen Siyuan Su. The new company’s authorized capital amounts to 924,000 euros.

According to Bloomberg, China Binary New Fintech Groupprovides online payment services to clients in China and Hong Kong. The group earned 4.1 mln euros in revenue last year and its net loss exceeded 9.5 mln euros.

The group employs 137 people and its market capitalization stands around 17 mln US dollars.

Established in Hong Kong in 2013, the fintech company was initially named Digital China but it renewed its strategy in 2018, focusing on the fintech sector, and changed its name to China Binary New Fintech Group.

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