Yeahka Limited reported a 24% year-over-year increase in first-half profit to RMB 41.9 million, marking four consecutive years of half-year profit growth, even as total revenue declined 23.9% to RMB 1.249 billion.
Domestic gross payment volume fell 23% to RMB 880 billion, while the domestic payment fee rate remained stable at 12.3 basis points. Gross profit from one-stop payment services rose 24.9% to RMB 244 million, lifting the domestic payment gross margin to 21.8% from 13.7% a year earlier. Administrative and R&D expenses decreased 8.1% year-over-year, supporting margin expansion.
Overseas operations showed stronger momentum, with gross payment volume surging 293% to approximately RMB 6 billion. The overseas payment fee rate stood at 63.1 basis points, roughly five times the mainland rate. The segment now contributes 7% of payment gross profit and a double-digit share of net profit, with margins described as four times higher than in China.
The company paid its first interim dividend of HKD 3 cents per share, totaling HKD 13.8 million. Shares closed at $4.80, down 1.03%, with a market capitalization of about $276 million and a trailing price-to-earnings ratio of 22.4. Over the past year, the stock has declined 59% from its 52-week high of $12.30.
Yeahka’s strategic pivot toward higher-margin business has included cutting lower-profit customers and focusing on larger chain merchants, brand-name retailers, and customized services. Digital payment penetration in mainland China exceeds 90%, compared with around 50% or less in developed markets such as Japan. The company highlighted growth in AI-driven merchant solutions, with AI-generated videos up more than twofold and maintaining gross margins above 94%. In-store e-commerce gross merchandise value rose over 75% year-on-year to a record high, with segment gross profit margins improving to over 70% due to AI virtual employees.
Yeahka also secured a digital currency payment license in the U.S. and advanced product development for online and agentic payments internationally.
