Yeahka Limited ("Yeahka" or the "Company", Stock Code: 9923), a leading payment-based technology platform in China, is pleased to announce the interim results for the six months ended 30 June 2022 (the "period" or "1H 2022").

Financial Highlights

-- During the period, the Company's total revenue reached RMB1,641.8 million, representing a year-over-year (YoY) increase of 17.1%.

-- Gross profit during the period rose 52.1% YoY to RMB529.3 million, gross margin increased from 24.8% to 32.2%, gross profit contribution from non-payment business was 50%.

-- Adjusted EBITDA amounted to RMB69.7million, increased by 39.7% compared with the second half of 2021.

-- Gross profit of in-store e-commerce services reached RMB92.3million, gross margin reached 57.1%, increased by 76.9% and 6.6 percentage points respectively, compared with the second half of 2021.

Operational Highlights

Number of users and scale of one-stop payment services continued to grow:

-- Total gross payment value ("GPV") of the payment services reached RMB1.06 trillion, up 7.4% YoY;

-- The number of active payment service merchants increased 24.1% YoY to a historical high of 7.6 million;

-- The number of cities covered exceeded 300 nationwide;

-- The number of partnership banks increased to nearly 100; the number of independent sales agents in our network reached nearly 16,000; and the number of application programming interface (API) partners on our cloud payment platform exceeded 3,000.

In-store e-commerce services grew rapidly and achieved significant results:

-- Total gross merchandise value ("GMV") was nearly RMB1.4 billion, up 17.9 times YoY, and 3.2 times compared with the second half of 2021;

-- The number of monthly active users ("MAU") reached 19.0 million;

-- The number of paying consumers reached nearly 9.7 million, increasing by 578.9% YoY and 136.0% from the second half of 2021;

-- Stock keep units (SKU) reached over 205,300, up 1,570.2% YoY and 39.6% from the second half of 2021;

-- Number of regional sites exceeded 300.

Steady growth for merchant solutions:

-- Number of active merchant solutions merchants increased by 25.8% YoY to nearly 1.5 million.

Mr. Luke Liu, Chairman of the Board, Chief Executive Officer and Executive Director of the Company, said, "The resurgence of the COVID-19 pandemic has made 1H 2022 challenging by slowing down retail sales growth of consumer goods, and significantly disrupting offline commerce. But for us, because of our broad coverage across over 300 cities and low geographic concentration, we continued to make progress in scaling up and monetizing our commercial digitalized ecosystem. We have been proactively adapting to the new norm in China's internet industry, by being more cost cautious and profitability-driven, which has been demonstrated by our financial performance in the first half - total revenue and gross margin both showed encouraging improvement year over year("YoY"), particularly with gross profit increasing 52.1% to RMB529.3 million, gross margin improving by 7.4 percentage points on a YoY basis, and adjusted EBITDA reaching RMB69.7 million during the period, increasing by 39.7% compared with the second half of 2021.

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