Overview
- Corporate filings dated November 3–4 show Xiaohongshu’s subsidiary Ningzhi Information now holds 100% of Oriental Electronic Payment after six prior shareholders exited, and the legal representative changed to Wang Run.
- The company’s payment license was renewed in August 2024 and authorizes internet payment services, with validity reported through May 2, 2026 under a Stored‑Value Account Operations (Category I) designation.
- Registered capital is slated to rise from 121.3 million yuan to 200 million yuan to align with supervisory requirements for non‑bank payment institutions.
- Oriental Electronic Payment’s stated services include nationwide customs duty e‑payments, free‑trade‑zone offerings, and cross‑border RMB and foreign‑currency payment solutions.
- The acquisition supports Xiaohongshu’s faster move into commerce and local‑life features such as the Market tab, the XiaoHong Card launched on September 15, and trials of second‑hand sales as platforms increasingly obtain payment qualifications by acquiring licensed firms.