Yeahka Announces 2020 Annual Results
PR88704
HONG KONG, March 26, 2021 /PRNewswire=KYODO JBN/ --
- Profit of the Year Surged 420.6% to RMB440.8 Million, Driven by the Rapid
Growth of Technology-enabled Business Services -
Yeahka Limited ("Yeahka" or the "Company", Stock Code: 9923), a leading
payment-based technology platform in China, is pleased to announce the audited
consolidated results for the year ended December 31, 2020 (the "Reporting
Period").
Mr. Luke Liu, Chairman of the Board, Chief Executive Officer and Executive
Director of the Company, said, "I am pleased to present Yeahk's first annual
results as a public company. Over the past year, we were able to maintain solid
growth, and create value for our shareholders as well as merchants and
consumers. As a leading payment-based technology platform in China, our
business philosophy is 'Start From Payment, Go Beyond Payment' and we have
progressively established a sustainable commercial digitalized ecosystem by
leveraging our app-based payment services as the core. Leveraging the resources
within our ecosystem, including traffic, data and R&D, we expanded our
innovation business by launching technology-enabled merchant SaaS products,
precision marketing services and fintech services, which have in turn helped to
drive the rapid growth of various businesses within our company."
Mr. Liu continued, "As we continue to innovatively promote digitalized upgrades
and integration across industries, we are creating greater value for both
merchants and consumers. Looking ahead, the continued development of the
consumer and industrial internet will accelerate the digital transformation of
Chinese enterprises, and the landscape of business services will change
significantly during this process. For both our merchant and consumer business
segments, we will continue to utilize the traffic and data captured by the vast
number of payment transactions that we process to explore new opportunities in
various business segments, and fully commercialize our growing ecosystem."
Financial Highlights
During the Reporting Period, the Company's total revenue reached RMB 2,292.9
million, representing a year-on-year increase of 1.5%, mainly driven by the
growth of the technology-enabled business. Revenue contribution from
technology-enabled business services increased rapidly to 20.2% from 7.8% in
2019. Within this segment:
- Revenue from marketing services reached RMB 364.9 million, representing a
year-on-year increase of 234.1% and 15.9% of the total revenue.
- Revenue from merchant SaaS products reached RMB 29.9 million, representing a
year-on-year increase of 99.5% and 1.3% of the total revenue.
- Revenue from fintech services reached RMB 68.7 million, representing a
year-on-year increase of 30.2% and 3.0% of the total revenue.
Gross profit increased 14.9% year-on-year to RMB 743.7 million. Gross profit
margin increased to 32.4% from 28.7% in 2019.
Net profit increased 420.6% year-on-year to RMB 440.8 million. Adjusted net
profit increased 19.8% year-on-year to RMB 360.6 million. Earnings per share
was RMB 1.45.
Business Highlights
Despite the impact from the pandemic, the total number of app-based payment
transactions saw a 119.1% increase in the second half of 2020 compared with the
first half. As of December 31, 2020, the number of active payment service
customers increased by 4.5% year-on-year to 5.5 million, and the number of
payment service customers increased by 75.5% year-on-year to 645.3 million.
The Company continued to expand and diversify its distribution channels. As of
the end of 2020, the Company had collaborated with more than 10,000 independent
sales agents and sales partners. Among them, the Company proactively cooperated
with nearly 900 merchant SaaS service providers from offline scenarios spanning
catering, retail, parking, refueling, ticketing, bicycle sharing, charger
sharing, internet cafés, tourist attractions and vending machines. Fushi
Technology, the Company's one-stop digitalized platform for merchants,
accumulated more than 320,000 merchants. The daily active users of its merchant
App had exceeded 120,000. The number of peak daily payment transactions of grew
over 4 times year-on-year to over 7.3 million.
During the Reporting Period, the Company's technology-enabled business services
achieved significant breakthroughs. The number of customers from
technology-enabled business services hit 982,000, representing an increase of
128.2% year-on-year. Specifically, among the Company's merchant SaaS products,
Juhuisaosao, the Company's payment aggregation tool, served over 63,000
merchants in 2020 and recorded a daily peak sales volume of 1,191 units. Smart
Shopkeeper, an integrated SaaS management platform for restaurants, maintained
solid growth, as its total number of merchants increased by 201.1% year-on-year
and it ranked at the top of the charts in terms of sales volume and review
ratings on various Chinese mainstream e-commerce platforms. On the precision
marketing front, the total exposures generated by the Company's precision
advertising platform were more than 23.9 times greater than 2019. For the
Fintech services, the total number of transactions that the Company facilitated
was approximately RMB568.5 million, a 15,2% growth year-on-year, and the
weighted average tenor was 10.39 months. As of December 31, 2020, the M1+
delinquency rate by vintage (over 30 days overdue) has remained stable at
around 1.05% since the second quarter of the year.
Business Review
Payment Services
The Company regards payment services as an important portal to attract traffic.
During 2020, the Company continued to steadily expand its payment business and
remained focused on building out its app-based payment services. The Company
continued to diversify payment channels to rapidly expand its merchant base.
Meanwhile, it also actively optimized its payment-based technology platform,
further integrated its internal resources, substantially increased R&D
investments and continuously refined the management of its payment business
operations.
Payment services continued to expand during the Reporting Period. The number
of app-based payment transactions jumped 119.1% , while GPV increased by 28.5%
in the second half of 2020 as compared to that in the first half of 2020. . The
peak daily average number of QR code payment transactions exceeded 30 million.
Despite the pandemic, the number of active payment service customers increased
by 4.5% year-on-year to 5.5 million, and the number of payment service
customers increased by 75.5% year-on-year to 650.0 million.
The Company continued to collaborate with premium industry partners. As of
December 31, 2020, the Company had collaborated with more than 10,000
independent sales agents and sales partners. The Company also proactively
cooperated with almost 900 merchant SaaS service providers that offer services
in a wide range of offline-scenarios, including across food and beverage,
retail and parking, by providing one-stop payment services to the merchants
they serve. By leveraging the abundant merchant resources and the nationwide
branch network of joint stock banks, urban commercial banks and rural
commercial banks, the Company co-developed a merchant payment service system
and jointly provided bank card acquiring services with these banks, and had
established a merchant resources sharing system with almost 50 banks,
efficiently expanding the Company's payment service business. In terms of
emerging payment methods, the Company set up dedicated teams during the
Reporting Period to support development in digital currencies.
Merchant SaaS Product Portfolio
As merchants continued to digitalized their operations, the Company developed
and provided a comprehensive merchant SaaS product portfolio, allowing
merchants to reduce their operational costs and acquire customers more easily.
The Company's SaaS products and services are primarily accessible to merchants
through online channels such as WeChat mini programs and merchant applications,
as well as other offline touch-points. During the Reporting Period, the Company
invested in Fushi Technology (Shenzhen) Co., Ltd. Fushi's one-stop merchant
digitalized platform, Haoshengyi, is an important part of the Company's
ecosystem that helps the Company expand and serve its merchant base. As of
December 31, 2020, Fushi had expanded its coverage to 25 cities nationwide and
accumulated more than 320,000 merchants. The number of its peak daily payment
transactions exceeded 7.3 million, which was more than four times higher than
2019, and the daily active users ("DAU") of its merchant app exceeded 120,000
as of December 31, 2020. Furthermore, the latest data shows that, as of March
22, 2021, its peak daily payment transaction counts rose further to 8.1
million.
For the retail industry, in the first half of 2020, the Company launched
Juhuisaosao, a proprietary QR code payment SaaS with a voice reminder function.
Leveraging the big data capabilities of the Company's ecosystem, Juhuisaosao
can provide merchants with multi-dimensional transaction reports and analysis,
cash flow analysis and forecasts via mobile devices and WeChat mini programs
based on their needs, thereby allowing merchants to gain additional insights
into their business performance and facilitating business decisions. Since its
launch, Juhuisaosao has been well received by merchants as it effectively
reduce delays and omissions during rush hours. In the first half of 2020, it
had served over 11,000 merchants, which further increased significantly by
439.1% to 63,250 merchants in the second half of the year. During the Reporting
Period, Juhuisaosao recorded daily peak sales volume of 1,191 units. In 2020,
the Company also launched Smart Store, a lightweight SaaS product that offers
merchants a one-stop platform to manage store procurement, sales and inventory.
For the catering industry, the Company launched its first one-stop SaaS
platform Smart Shopkeeper in China in 2015. Since then, Yeahka has developed
two brands, namely Smart Shopkeeper and Milican, that target different segments
of the catering industry and different types of merchants to offer better
solutions. In particular, Smart Shopkeeper targets catering merchants with
single stores, while Milican targets catering franchises with multiple stores.
As of December 31, 2020, the total number of merchants served by Smart
Shopkeeper increased by 201.1% year-on-year. The App ranked at the top of
various Chinese mainstream e-commerce platforms in terms of sales volume and
review ratings. In order to help merchants manage decentralized native traffic,
in March 2020, the Company launched Yuehuiquan, a coupon aggregation and
distribution platform built on blockchain technology. During the Reporting
Period, the platform has served over 56 thousand merchants and expanded to
become a platform that manages millions of coupons. In October 2020, Yuehuiquan
was officially titled and given a recordation number in the domestic
blockchain-based information service by the Cyberspace Administration of the
PRC. In January 2021, the Group launched Yuehuiquan Pro, a community-based
fully-automated hosting membership management system, with the aim of assisting
more merchants build customized membership programs from scratch and satisfying
merchant's' increasing needs for customization.
In 2020, the Company made a number of strategic investments through RYK Capital
Partners Limited, an investment platform jointly established by the Company and
Recruit Holdings Co., Ltd., a renowned Japanese internet company, including
Shenzhen Zhibaiwei Technology Development Co., Ltd., an O2O mobile internet
SaaS provider focusing on retail and F&B POS-ERP services, and Jiangsu Ruipos
Data Technology Co., Ltd., a SaaS service provider focusing on domestic
catering chains, including tea and beverages, fast food and lu wei (braised
snacks) restaurants (operated under the Shuaishouzhanggui brand).
Precision Marketing Services
The Company is dedicated to building a precision digital advertising platform
which is based on diversified data traffic. Using proprietary payment data,
integrated from a wide range of case scenarios, Yeahka maximizes value for its
customers by intelligently matching target users with advertisers and merchants
through its precision marketing services. In recent years, the Company has
established a proprietary data management platform (DMP) and used it as the
core to launch a precision advertising marketing platform "Juliang". Yeahka
leveraged its growing artificial intelligence ("AI") and machine learning
capabilities to intelligently match target users, refining and labelling data
in Juliang, thus precisely matching offline traffic owners' demands for
monetization with advertisers' demand for advertisement placement results.
In November and December 2020, the Company reached an agreement to acquire an
85% equity interest in Beijing Chuangxinzhong Technology Co., Ltd., a leading
content performance-based marketing service provider in China. The acquisition
will not only allow the Company to quickly expand its advertising inventory,
but will also further enhance its capabilities to collect data related to user
behaviors and preferences. Beijing Chuangxinzhong's online media network will
quickly bolster the Company's consumer profiles and data based on their
preferences, strengthen traffic labels on Juliang, as well as improve ad
placement efficiency.
Fintech Services
Yeahka provides fintech services, including loan facilitation services,
entrusted loan services, and small-sized loan and insurance referral services
to merchants. During the Reporting Period, the total number of transactions
that the Company facilitated was approximately RMB568.5 million, representing
an increase of 15.2% from 2019, with a weighted average tenure of 10.39 months.
As of December 31, 2020, the M1+ delinquency rate by vintage (over 30 days
overdue) had remained stable at around 1.05% since the second quarter of the
year, demonstrating the effectiveness of the Company's credit risk management
capabilities across various economic cycles.
Outlook
Looking ahead, the continued development of the consumer and industrial
internet will facilitate the ongoing digital transformation of Chinese
enterprises. The landscape of business services will change significantly
during this process. For both its merchant and consumer business segments, the
Company will continue to utilize the traffic and data captured through the vast
number of payment transactions it processes to explore and capitalize on
opportunities in various business segments. The Company will further leverage
its ecosystem to support digital transformation and commercialize services
around it.
For technology-enabled business services, the Company will continue to enhance
its ecosystem, which includes merchant SaaS products, precision marketing
services and fintech services. In addition, the Company will accelerate its
embrace of market changes, stay at the forefront of technological advancements,
and proactively promote emerging payment methods such as digital currencies.
The Company will continue to expand its business boundaries, strive to enable
businesses to operate and acquire customers through decentralization, and
enhance consumer lifestyles and merchant capabilities by providing greater
convenience.
About YEAHKA LIMITED (9923.HK)
Yeahka Limited is a leading payment-based technology platform in China
providing payment and technology-enabled business services to merchants and
consumers. The Company was listed on The Stock Exchange of Hong Kong Limited
(the "Stock Exchange") in June 2020 under the stock code "09923.HK". The
Company's value proposition is to create a commercial digitalized ecosystem
that enables seamless, convenient and reliable payment transactions between
merchants and consumers and further offer a rich variety of technology-enabled
business services, including (i) merchant SaaS products, which help customers
improve their operational efficiency, (ii) precision marketing services,
allowing customers to effectively reach their target markets, and (iii) fintech
services, which cater to customers' diverse financial needs.
Please refer to the link below for the audited consolidated results of Yeahka
Limited and its subsidiaries (collectively, the "Group") for the year ended
December 31, 2020 together with the comparative figures for the year ended
December 31, 2019.
https://yk-webapp-static.leshuazf.com/20210325/1616667943732474.pdf
source: Yeahka Limited
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