Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 2 September 2022, 19:30 HKT/SGT
Share:
Jefferies maintains Buy rating on Yeahka (9923.HK)

HONG KONG, Sept 2, 2022 - (ACN Newswire) - Yeahka (9923.HK), the leading payment-based technology platform in China, announced its 2022 interim results in late August. During the period, total revenue climbed 17.1% to RMB1,641.8 million, gross profit rose 52.1% to RMB529.3 million, and gross margin increased from 24.8% to 32.2%.

"Yeahka's 1H revenue and adjusted EBITDA beat our estimates. Management highlighted multi-channels strategies to embrace in-store e-commerce opportunities and reaffirmed full-year GMV guidance. We expect it to maintain fast growth trend in 2023 due to the huge addressable market ahead. We revise our payment volume assumptions in 2H due to the recent resurgence of the pandemic and estimate take-rate to be better than expected for the full year," Jefferies says in its newly released research report.

Jefferies emphasizes that Yeahka is one of the 16 payment service providers with a national bank card acquiring license and mobile phone payment license from the PBOC, which currently has 7.3m active payment service merchants. The payment business provides traffic, merchants and data insights to Yeahka, in particular payment and online marketing services. Backed by its merchants and consumer networks in payment, Yeahka adds value to merchants through SaaS products in digitization, online marketing through DSP platform and fintech services.

According to the report, Jefferies maintains its Buy rating with PT of HKD21 on Yeahka based on PEG. It applies a 10% discount to PEG due to uncertainties of macro headwinds and pandemic outbreak, factoring in the recent business developments with a focus on GPV and customer growth, while the support to merchants and investments in new initiatives are important for the long term.



Topic: Press release summary Sectors: Cards & Payments, Cloud & Enterprise
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



Latest Press Releases
Q2 Metals Concludes Its 2024 Winter Drill Program at the Mia Lithium Property, James Bay Territory, Quebec, Canada  
Feb 27, 2024 21:09 HKT/SGT
U.S. Polo Assn. Supports 2024 U.S. Open Women's Polo Championship(R) Airing on ESPN  
Feb 27, 2024 21:00 HKT/SGT
Tuxera Expands Collaboration With Microsoft on New SMB Licensing Solution  
Feb 27, 2024 21:00 HKT/SGT
Genetec Sets the Stage for Higher Growth Following a Strong Q3FY2024 Performance  
Feb 27, 2024 20:00 HKT/SGT
HKTDC Hong Kong International Diamond, Gem and Pearl Show opens at AsiaWorld-Expo today  
Feb 27, 2024 20:00 HKT/SGT
DOCOMO to Conduct Open RAN Field Trials with Ooredoo, Smart and StarHub  
Tuesday, February 27, 2024 6:53:00 PM
CleverTap partners with Zoomcar to drive customer engagement on their app  
Tuesday, February 27, 2024 5:00:00 PM
Digitalization Empowering Foreign Trade Shipping - Nanhua Logistics, a COSCO Shipping Group Subsidiary, Partners with Bravowhale Technology to Spearhead the Online Implementation of ESG Compliance Standards  
Feb 27, 2024 10:56 HKT/SGT
Mitsubishi Electric Building Solutions to Supply Elevators and Escalators for New Capital Relocation Project in Indonesia  
Tuesday, February 27, 2024 10:00:00 AM
Award Winning Creative Director Guan Hin Tay Unveils Pioneering Book 'COLLIDE: Embracing Conflict to Boost Creativity,' Published by Penguin Random House SEA  
Feb 27, 2024 09:45 HKT/SGT
More Press release >>
 Events:
More >>
 News Alerts
Copyright © 2024 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: