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Yeahka wins The Community Chest Award of Excellence

2021-10-18 10:37 1740

HONG KONG, Oct. 18, 2021 /PRNewswire/ -- On September 29, 2021, YEAHKA LIMITED ("Yeahka" or the "Company", stock code: 9923.HK) won the Award of Excellence at The Community Chest Awards 2020/2021. The award recognizes Yeahka's contributions to Hong Kong's public services over the recent year.

The award ceremony was held in the Government House, Hong Kong and chaired by The Community Chest president Charles Yeh Kwong LEE, GBM, JP.

Yeahka, a leading payment-based technology platform in China, is committed to build a digital business ecosystem that supports seamless, convenient and reliable payment transactions between merchants and consumers. The company focuses on providing a wide range of technology-enabled business services, including digital SaaS solutions that help customers to improve operational efficiency, with precision marketing services that allow customers to effectively reach their target markets, financial technology services in response to customers' diversified financial needs, and in-store e-commerce services that help merchants to improve and elevate their overall performance. Ultimately, to provide consumers with a more cost-effective local lifestyle service.

According to Yeahka's 2021 interim results, the company achieved revenue of 1.4 billion yuan (approx. US$217 million) in the first half of 2021, an increase of 30.2% year-on-year, with net profit growing 30.7% year-on-year to 291 million yuan (approx. US$45 million). In the reporting period, the total number of active merchants for payment services reached 6.13 million, representing a year-on-year increase of 30.6%. Revenue from technology-enabled business services grew 86.6% year-on-year to 358 million yuan (approx. US$56 million) while gross profit contribution margin increased from 34.9% in the year-ago period to 56.5%.

Notably, the daily peak of QR code payments reached 42 million in the first six months of 2021. According to the latest publicly available data released by other major industry players, Yeahka has surpassed its rivals as the largest non-bank independent QR code payment service provider in the Chinese market in terms of market share.

Yeahka continues to commit its social responsibility to its highest standards by devoting itself to public services and helping to shape a better future by supporting the growth of small and medium-sized businesses.

Yeahka garners the Award of Excellence
Yeahka garners the Award of Excellence

In 2020 when the COVID-19 pandemic began to spread across the world, Yeahka launched the "Power of Small Merchants" program, which has subsidised a total of 20 million yuan (approx.US$3million) of processing fee to the small merchants, including allowances from major cooperative bank partners , benefited the small merchants from having a free insurance and loan support during the unprecedented times. As part of the program, the company introduced live stream courses, topics include generating customers leads, customer conversion rates, also, event planning and execution tactics are covered. In addition, small merchants also benefited from Yeahka's marketing tools and products, which enabled them to create a larger customer base, at the same time providing an efficient e-payment transactions between the flea market owner and hawkers. From 2021 onwards, Yeahka will continue to enable over a hundred thousand of small and medium- sized merchants to enjoy a processing fee discount across China.

In addition to capital investment, Yeahka leverages its digital products and innovative technologies to bring its partners into the Yeahka ecosystem in a move to help SMEs in their transition towards smart operations and to drive social inclusion.

Apart from the capital investment, Yeahka has united with its cooperative partners form its ecosystem and utilising its own digital products and innovative technologies to help the SMEs with the digital transformation and meanwhile continue to generate values for business and unlock benefits for society.

Source: Yeahka Limited
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