HONG KONG, Nov. 12, 2020 /PRNewswire/ -- YEAHKA LIMITED ("Yeahka" or the "Company", stock code: 9923.HK), a leading technology platform in China, recently announced an agreement to acquire a 42.5% stake in Beijing Chuangxinzhong Technology Co., Ltd. ("Chuangxinzhong") to accelerate expansion of its marketing services.
As China's macro-economy recovers after Covid-19, as of October 31, 2020, Yeahka presents a stellar record of key operational performance, building a solid foundation for future development:
- The number of total impressions on Yeahka's precision marketing platform from July 1 to October 31, 2020 has nearly doubled compared with the first half of this year;
- As of October 31, 2020, the number of active payment service customers has rebounded to pre-pandemic level. The number of consumers reached via the Company's payment service approached 600 million and has continued to grow quarter-to-quarter;
- The number of App-based transaction counts during July and October 2020 has continued to increase rapidly, with growth exceeding 30% over the first half of the year.
The cooperation between Yeahka and Chuangxinzhong will enable the Company to achieve more effective marketing services for digital content, as well as to further improve the Company's Data Management Platform (DMP) driven by artificial intelligence and machine learning through diversified media channels, which will in turn help customers achieve more precision advertising, and facilitate sustainable and rapid development of the Company's precision marketing business.
The Company currently intends to acquire an additional 42.5% equity interest of Chuangxinzhong going forward, and further announcements about the additional acquisition will be made by the Company when and if necessary. For further details about the acquisition, please refer to the Company's announcement on the Hong Kong Stock Exchange dated November 9, 2020.
About YEAHKA LIMITED (9923.HK)
Yeahka is a leading payment-based technology platform in China providing payment and technology-enabled business services to merchants and consumers. According to Oliver Wyman, we are the second largest non-bank independent QR code payment service provider in China, with approximately 14.0% market share in terms of transaction count in 2019. The Company's value proposition is a cohesive ecosystem that enables seamless, convenient and reliable payment transactions between merchants and consumers, and leveraging its vast customer base and data assets accumulated from payment services, to further offer a rich variety of technology-enabled business services, including (i) merchant SaaS products, which help customers improve their operational efficiency, (ii) marketing services, allowing customers to effectively reach their target markets, and (iii) fintech services, which cater to customers' financial needs.
