Yeahka Limited reported record‐high 2025 revenue of RMB 3.31 billion, a 7.3% increase year on year, powered by stronger fee rates in the domestic market and rapid expansion overseas. Profit attributable to shareholders rose 11.9% to RMB 92.24 million, while total profit advanced 15.5% to RMB 84.34 million.
Gross profit expanded 8.1% to RMB 788.15 million, lifting the overall margin slightly to 23.8%. One-stop payment services—the group’s largest segment—grew revenue 8.0% to RMB 2.90 billion, with gross margin edging up to 14.5% as the blended payment fee rate improved from 11.5 to 12.4 basis points. Merchant solutions posted 4.6% revenue growth to RMB 355.30 million and delivered a record 91.8% gross margin, aided by wider adoption of AI-generated content. In-store e-commerce revenue fell 12.3% to RMB 53.68 million due to a shift toward channel sales, although the segment achieved its first monthly net profit during the year.
Core EBITDA jumped 52.7% to RMB 352.84 million, with the margin widening to 10.7%. Tight expense control contributed: combined selling, administrative and R&D spending dropped 13.2%. Finance costs decreased 37.8% to RMB 38.31 million following an optimized funding structure.
Operationally, domestic gross payment volume (GPV) was stable at RMB 2.34 trillion (+0.1%). Overseas GPV surged 323.3% to approximately RMB 4.71 billion, supported by fee rates around 60 basis points and a 50% gross margin, generating roughly 3% of total profit despite representing only 0.2% of group GPV. Advertising transaction volume in merchant solutions climbed 13% to RMB 3.60 billion, and in-store e-commerce GMV exceeded RMB 4.43 billion, up nearly 50%.
The balance sheet strengthened with cash and equivalents rising 26.7% to RMB 754.95 million, assisted by a HK$189.20 million equity placing completed in January 2025. Gearing improved to 33.2% (2024: 35.9%). Capital expenditure increased to RMB 124.80 million, primarily for building projects and payment terminals.
Yeahka highlighted deeper AI integration across risk control, marketing content generation and merchant operations as a key driver of efficiency gains and margin enhancement. Looking ahead, management plans to accelerate geographic expansion—particularly in high-growth overseas acquiring markets—and continue leveraging AI to support merchant services and operational scalability.
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