鉴证实录2

因市场环境变化及公司规划调整拉卡拉终止赴港IPO_我的网站

方谬神探

一 | 　　21世纪经济报道记者张欣　　老牌支付公司拉卡拉支付股份有限公司（300773.SZ，下称“拉卡拉”）正式终止了筹划逾一年的赴港上市计划。

The Chinese People's Liberation Army (PLA) Navy hospital ship, Auspicious Ark, makes a technical stop at the PLA support base in Djibouti on August 11, 2026 local time. Photo: PLA Navy
The Chinese People's Liberation Army (PLA) Navy hospital ship, Auspicious Ark, deployed for Mission Harmony-2026, made a technical stop at the PLA's support base in Djibouti on Tuesday local time, where it is scheduled to provide medical services. A Chinese expert said that in addition to addressing the healthcare challenges facing Chinese military personnel stationed overseas, the ship can extend humanitarian medical assistance locally, thereby demonstrating China's commitment to fulfilling its responsibilities through concrete actions.
The ship moored at the dock of the PLA support base in Djibouti at around 7 am, with mission personnel waving to those who came to greet them onshore. Staff from the Chinese Embassy in Djibouti, service members stationed at the support base, and representatives from the 48th Chinese Naval Escort Taskforce attended the welcome ceremony, according to a release from China's Ministry of National Defense on Wednesday.
During the technical stop, the ship will replenish supplies including food and fuel and provide medical treatment for troops stationed at the support base as well as service members of the escort taskforce, according to the release.
According to a video clip released by China Central Television (CCTV) at noon on Wednesday, the Type 052D destroyer Tangshan from the 48th Chinese Naval Escort Taskforce is also currently docked at Djibouti.
Commissioned in 2025, the newest Auspicious Ark is equipped with virtually all the sophisticated medical equipment found in a top-tier hospital, enabling it to provide effective, professional medical care across a variety of operational settings. It has since taken part in several maritime medical support exercises, the Xinhua News Agency reported.
Equipped with 18 clinical departments and five auxiliary diagnostic units, the ship is capable of performing more than 60 types of medical examinations, treatments and procedures spanning general surgery, orthopedics, obstetrics and gynecology, ophthalmology and more. Its eight onboard standard operating rooms support simultaneous surgeries, while an onboard helicopter enhances its emergency medical rescue capabilities, per Xinhua.
The Chinese hospital ship maintains a standard of diagnosis and treatment equivalent to that of a tertiary hospital, the top of China's grade hospital system, enabling it to accurately diagnose and treat the ailments of military personnel deployed overseas, Song Zhongping, a Chinese military affairs expert, told the Global Times on Wednesday.
Given Djibouti's harsh climatic environment, the ship's stopover there also reflects the care extended to military personnel stationed overseas, Song added. He said he expects the PLA to send hospital ships to the PLA Support Base in Djibouti on a regular basis.
Mission Harmony-2026, the 12th iteration of Mission Harmony since 2010, is scheduled to last over 200 days, during which the ship will visit multiple African and South Asian countries to provide free medical services to local populations, Xinhua reported.
Since setting sail on July 22, the task force has conducted a series of drills covering counter-terrorism and anti-piracy operations, helicopter-borne maritime medical evacuation, reconnaissance and evidence collection. These exercises are designed to bolster emergency response capabilities and ensure personnel and equipment remain in optimal condition, according to China's Ministry of National Defense.
The current security situation in the Middle East remains precarious, with the potential to spill over into Africa. In this context, the present mission is well positioned to provide timely rescue and relief operations in the event of regional contingencies, Song said. With the Ebola virus still rampant across parts of Africa, the Chinese hospital ship could also provide humanitarian medical support whenever public health crises emerge in neighboring countries, he added.
These tangible efforts exemplify China's commitment to upholding global responsibility and conveying goodwill through practical, peace-oriented actions, according to Song.
Mission Harmony is an overseas humanitarian medical service program organized by the PLA Navy. This initiative aims to enhance traditional friendship and pragmatic cooperation between China and relevant countries, provide the international community with more public security products, better implement the Global Security Initiative, and contribute to building a maritime community with a shared future, according to a prior statement from China's Ministry of National Defense.
。　　8月25日晚间，拉卡拉发布《关于公司终止发行H股并于香港联合交易所有限公司主板上市的公告》，称因市场环境变化及公司规划调整，经与各方充分沟通及审慎分析，当日召开的第四届董事会第十八次会议，以8票赞成、0票反对、0票弃权审议通过终止H股发行上市议案。　　2025年6月，拉卡拉宣布筹划发行H股并在香港联交所上市，其公告明确指出，赴港上市旨在“推进公司国际化发展战略，构建国内国际双循环格局”。

二 | 　　拉卡拉在2025年半年报中进一步分析，伴随着中国企业全球化步伐的加快推进、人民币国际化程度的不断提升，国内有资质开展跨境支付以及在Web3.0领域有前瞻性布局的第三方支付机构将迎来巨大的发展机遇。2025年以来，公司把握跨境支付体系变革机遇，积极推进境外牌照和业务落地，加快全球化布局。

三 | 　　按港交所当时规则，主板新上市申请自递交A1表格（俗称“递表”）起6个月内未通过聆讯即自动失效。拉卡拉2025年10月17日递交的H股上市A1申请于2026年4月17日届满失效，失效后公司曾表示将择机重新递表，但经过数月观望未再更新材料，最终直接终止了H股上市计划。　　从最新披露的2026年半年报看，拉卡拉实现归属母公司股东净利润6.69亿元，同比增长191.67%，扣除非经常性损益后归母净利润为2.19亿元，同比增长50.28%，主要系公司主营业务盈利能力向好，以及出售公司持有的上市公司股票取得的投资收益较去年同期大幅增长所致。　　分业务看，数字支付收入28.43亿元，同比增长20.32%；境内综合收单规模2.25万亿元，同比增长14.99%，其中银行卡交易1.40万亿元，同比增长7.73%，连续两个季度正增长、止住跌势；扫码交易0.85万亿元，同比增长29.38%。

四 | 科技服务收入2.13亿元，同比增长51.32%，由天财商龙并表及科技输出拉动。　　值得注意的是，拉卡拉的跨境支付业务表现较好，上半年交易规模543.64亿元，同比增长46.38%，服务商户超25万家，同比增长55.86%；3月公司获批Visa海外发卡会员资质，外卡交易金额同比增长81.57%。