Yeahka Limited (“Yeahka” or the “Company”, Stock Code: 9923), a leading payment-based technology platform in China, increased by 4.45% and closed at HK$17.86 per share. Its share price climbed by about 30% in the past five trading days.
Yeahka recently announced its FY2022 interim results. For the six months ended 30 June 2022, the Company’s revenue was RMB1,642 million, representing a year-over-year increase of 17.07%. Gross profit rose 52.05% year-over-year to RMB529 million. The company’s gross payment value (“GPV”) reached RMB1.06 trillion, up 7.4% year-over-year. The gross merchandise value (“GMV”) of its in-store e-commerce services and the number of paying consumers was nearly RMB1.4 billion and 9.7 million, respectively, representing a year-over-year increase of 1,789.7% and 578.9%, respectively. The number of monthly active users (“MAU”) exceeded 19.0 million during the reporting period.
At the same time, Yeahka also disclosed the news of its share repurchase, stating that pursuant to a resolution passed by the shareholders of the Company at the annual general meeting held on June 24, 2022, the Directors were granted a general unconditional mandate to repurchase up to 45.1903 million shares. On September 5, Yeahka spent HK$4.955 million on the repurchase of 292,000 shares at a repurchase price of HK$16.74-17.08 per share. This is a relatively rare move among small and medium-sized technology companies and shows that the management is extremely confident in the Company’s future performance growth.
In view of its outstanding interim results and the management’s expectations for the Company’s future growth, Nomura and CLSA both upgraded their ratings to “Buy”. Nomura published a research report stating that its interim performance was solid, with revenue increasing by 17% year-over-year, mainly driven by strong growth in its payment business and in-store business. As of the market close today, more than a dozen institutions, including CICC, Guosheng Securities, GF Securities, and China Securities International, have all given the Company a “Buy” rating, which further demonstrates the investment value of Yeahka.
About YEAHKA LIMITED (Stock Code: 9923.HK)
Yeahka is a leading payment-based technology platform dedicated to creating value for merchants and consumers. Our goal is to build an independent and scalable commercial digitalized ecosystem to enable seamless, convenient, and reliable payment services to merchants and consumers, and to further expand into serving merchants and consumers with our diversified product portfolio, which now includes (i) in-store e-commerce services, providing consumers with local lifestyle services of great value, and (ii) merchant solutions, enabling merchants to better manage and drive business growth.
Topic: Press release summary