Strengthened Commercialization across Payments and Digital Commerce EcosystemRemarkable Overseas Expansion Progress Wider AI Technology Application
HONG KONG, Aug. 27, 2024 /PRNewswire/ -- Yeahka Limited ("Yeahka" or the "Company," Stock Code: 9923.HK), a leading payment and digital commerce technology platform in China, is pleased to announce its interim results for the six months ended June 30, 2024 (the "Reporting Period" or the "first half").
Business and Financial Summary
Our one-stop payment services continue to lead the industry and our market-leading position in app-based payments is solidified, with peak daily transaction counts reaching nearly 60 million;
Against the backdrop of the high base in the same period last year and macroeconomic volatility, our gross payment volume (GPV) for the six months ended June 30, 2024 was RMB1,166.2 billion, representing a decrease of 17.8% compared to the same period in 2023;
Commercialization capability was solid with our payments fee rate maintaining at 12.3 basis points (bps);
Revenue for the six months ended June 30, 2024 was RMB1,577.7 million, representing a decrease of 23.5% from the same period in 2023;
Revenue contribution from non-payment digital commerce services, comprising merchant solutions and in-store e-commerce services, continue to increase, with their percentage to total revenue increasing from 11.0% for the six months ended June 30, 2023 to 14.6% for the same period in 2024;
Overall gross profit margin increased from 17.7% for the six months ended June 30, 2023 to 19.0% for the same period in 2024;
Gross profit contribution from non-payment digital commerce services continue to increase, with their percentage to total gross profit increasing from 52.6% for the six months ended June 30, 2023 to 69.1% for the same period in 2024;
Driven by our wider application of artificial intelligence, selling and administrative expenses decreased by 11.2% for the six months ended June 30, 2024 compared to the same period in 2023;
Finance costs reduced by 6.2% for the six months ended June 30, 2024 compared to the ...
