Yeahka Limited (“Yeahka” or the “Company”, Stock Code: 9923), a leading payment-based technology platform in China, is pleased to announce business updates for the first quarter of 2022 (the “period”).

During the period, the total gross payment volume of the one-stop payment services grew 18.2% year-on-year (“YoY”) to reach approximately RMB544.6 billion, and the number of active payment services merchants reached approximately 7.48 million. The payment fee rate also increased, while the commission rate paid to distribution channels decreased when compared with the full year of 2021.

As for the in-store e-commerce services, the total gross merchandise value (“GMV”) and the number of paying customers reached RMB560 million and 4.7 million respectively. The Company reaffirms its guidance of achieving RMB2.8 billion to RMB3.5 billion in GMV for the full year of 2022.

Mr. Luke Liu, Chairman of the Board, Chief Executive Officer and Executive Director of the Company, said, “Despite the regional resurgence of the pandemic in China, our business maintained rapid growth under a disciplined and controlled investment policy, primarily due to our business coverage of small and medium offline merchants in over 300 cities in China, with a relatively low concentration in any single city. Our continuous efforts in scaling up and monetizing our commercial digitalized ecosystem encompassing digital payment, merchant solutions, and in-store e-commerce business for local lifestyle also contributed to the growth. The overall strategy for the Company this year will be more focused on striking a balance between continued growth and profitability, building on 2021’s focus on traffic growth.

The Company also announced that from January 1, 2022 to April 30, 2022, the trustee of the restricted share unit scheme has utilized an aggregate of approximately HKD298.2 million to purchase 14,476,000 shares of Yeahka on market, representing 3.2% of Yeahka’s total issued shares. The Company will continue to implement the share purchase scheme based on considerations including its growth prospects, capital market conditions, macroeconomic indicators, and employee incentives.