ACN Newswire

Institutions maintain ‘buy’ rating as Yeahka (09923.HK) records fast growth

indie
3 minutes

HONG KONG, Sep 2, 2021 - (ACN Newswire via SEAPRWire.com) - Institutions from China and abroad, including Citi, CLSA, Daiwa, China Securities, Zhongtai International and Guosheng Securities, have maintained "Buy" rating for Yeahka (09923.HK), underscoring their confidence with the prospects of the company's technology-enable business services. Yeahka, which has payment as its other major business, has achieved rapid growth in the first half of 2021, according to its interim results announced on Aug 26.Citi views Yeahka's strategy stable fee rate and revenue sharing trend to boost merchants base "as largely in line with overall industry outlook", and believes "that continued investment to acquire traffic and investment in business (such as in-store ecommerce services) will make more meaningful contribution in the longer term leveraging Yeahka's solid execution". A CLSA report expects Yeahka's GPV continues to increase, while the technology-enabled business achieving fast growth. "The company also started to provide in-store e-commerce services in Dec 2020, business that is upgraded from marketing services, to provide closer connection between merchants and consumers, and to create d...

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Yeahka Announces 2021 Interim Results

indie
5 minutes

HONG KONG, Aug 26, 2021 - (ACN Newswire via SEAPRWire.com) - Yeahka Limited ("Yeahka" or the "Company") (Stock Code: 9923), a leading payment-based technology platform in China, is pleased to announce the interim results for the six months ended 30 June 2021 (the "Reporting Period" or the "first half").Financial Highlights-- During the Reporting Period, the Company's total revenue reached RMB1,402 million, representing a YoY increase of 30.2%. Revenue from technology-enabled business services increased rapidly by 86.6% to RMB358 million.-- The Company recorded net profit of RMB291 million, growing 30.7% YoY; adjusted net profit grew 142.2% YoY to RMB318 million. Earnings per share was RMB 0.71.-- Revenue of the Company's SaaS digital solutions was nearly RMB27.34 million, an increase of 134.3% YoY.-- Revenue from fintech services amounted to RMB42.72 million, representing a YoY increase of 18.7%. The total amount of loans that the Company facilitated was approximately RMB537.3 million, with a weighted average tenure of 10.2 months.-- Precision marketing services revenue was RMB240 million, an increase of nearly 68.5% YoY.-- The newly launched in-store e-commerce service recorded re...