(Yicai Global) Nov. 29 -- Lakala Payment’s shares fell after the third-party payments platform received a letter of concern from the Shenzhen stock exchange, asking the company to provide a detailed analysis of the impact of new mobile payment rules on its business.

Lakala [SHE: 300773] closed down 6.7 percent at CNY28 (USD4.40) today, after earlier slumping by as much as 9.2 percent.

Under new regulations issued by the People’s Bank of China, personal payment QR codes cannot be used for business operations from next March. Many individual vendors in China use the codes on mobile payment platforms, including Tencent Holdings’ WeChat and Ant Group’s Alipay.

Lakala used the Shenzhen stock market’s interactive platform to tell investors on Nov. 26 that the new rules would “greatly enhance its market size and share.” The Beijing-based company’s stock surged 18 percent that day.

The bourse sent a letter of concern to Lakala today asking for a specific analysis of the possible impact of the new rules on its business, and explain why it thinks they will boost the firm’s size and market share. Lakala was also ordered to check whether its response on the interactive platform was prudent and objective and whether there was speculation about its share price.

Payment by personal payment QR codes and Lakala’s payment business are different, Shanghai Securities News reported today, quoting Wang Pengbo, a senior analyst in the industry.

Lakala’s business advantage lies in its partnership with China UnionPay and international card issuers to provide merchants with payment collection services, including bank cards and digital Chinese yuan, he added.

Lakala posted CNY2.1 trillion (USD328.9 billion) in domestic and overseas bank card transactions in the first half of this year, up 46 percent from a year ago to rank second in its field, according to the company’s semi-annual earnings report.

Editor: Peter Thomas