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Yeahka
COMPANY PROFILE

Yeahka Limited started its payment services business in 2012, offering seamless, convenient and reliable payment services to micro and small merchants, connecting them with millions of consumers. Currently, its QR code payment services support payments from over 500 issuer’s mobile apps, including WeChat Pay, Alipay or Mobile QuickPass, covering most of the e-wallets in China. The Group accounts for approximately 17.5% of the third-party payment market in 2019.

In addition to its payment services business, the size of its payment services business enables it to develop a deep understanding of customers’ needs, and build a cohesive ecosystem. As such, the Group has extended its product and service offerings to technology-enabled business services which consist of merchant SaaS products, marketing services and fintech services. It has developed an end-to-end ecosystem which facilitates transactions between merchants and consumers and creates value for them. The principal business lines include: 1. One-stop payment services, which consist of app-based payment services where it enables customers to accept payments using its mobile apps, or when consumers pay merchant customers through third-party e-wallets, and traditional payment services, where it enables customers to accept non-cash payments that do not belong to app-based payments, including accepting card payments with traditional payment terminals; and 2. Technology-enabled business services, which consist of a rich variety of value-added services, including merchant SaaS products, which help customers improve their operational efficiency, marketing services, allowing customers to effectively reach their target markets, and fintech services, which cater to customers’ financial needs.

The Group has broad partnership with over 8,000 partners in its distribution channels, namely independent sales agents, sales partners, and SaaS partners. Its distribution network had covered 30 provinces and municipalities and over 300 cities in China.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureSoftware & Services
Websitewww.yeahka.com
Board Lot400
Registrar & Transfer OfficeComputershare Hong Kong Investor Services
GLOBAL OFFERING
No. of Offer Shares98.72m shares
No. of International Offer Shares88.85m shares
No. of HK Offer Shares9.87m shares
Offer Price$12.64 - $16.64
Nominal ValueUS$ 0.000025 each
Stock Code9923
Joint SponsorsCLSA Capital Markets, Nomura International (Hong Kong), ABCI Capital
Joint Global CoordinatorsCLSA, Nomura International (Hong Kong), ABCI Capital
Joint BookrunnersCLSA, Nomura International (Hong Kong), ABCI Capital, Haitong International Securities , China Merchants Securities (HK), ICBC International Capital, Futu Securities International (Hong Kong)
Joint Lead ManagersCLSA, Nomura International (Hong Kong), ABCI Securities, Haitong International Securities, China Merchants Securities (HK), ICBC International Securities, Futu Securities International (Hong Kong)
TIME TABLE
Application PeriodMay 20 (Wed) - Noon, May 25 (Mon)
Price Determination DateOn or Before 5pm, May 25 (Mon)
Result Announcement DateOn or Before May 29 (Fri)
Dispatch of Shares and Refund ChequesOn or Before May 29 (Fri)
Dealings in Shares commence onJun 1, 2020. (Mon)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
DIRECTORS
ExecutiveLiu Yingqi(Chairman), Zhou Lingli, Yao Zhijian
Non-ExecutiveMathias Nicolaus Schilling, Hirofumi Ono
Independent Non-ExecutiveTam Bing Chung Benson, Yao Wei, Yang Tao
MAJOR SHAREHOLDERS
Director Liu Yingqi39.95%
IVP Funds5.92%
INCOME STATEMENT (RMB'000)
(Year ended Dec 31)
201920182017
Revenue2,258,019992,891304,688
Gross Profit647,035269,535118,146
Pre-Taxed Profit151,039(187,961)(332,677)
Attributable Profit for the period84,663(182,794)(342,024)
EPS - Basic (cents)184(384)(718)
OFFER STATISTICS (HK$)
Offer Price$12.64 - $16.64
Capitalization$5,243m - $6,902m
Unaudited pro forma adj NAV / share$4.99 - $6.01
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $14.64, the net proceeds raised would be HK$1,336.6m, of which:
* $267.3m (20.0%) use for implementing sales and marketing initiatives in China and overseas markets ;
* $467.8m (35.0%) use for expanding its technology-enabled business services offerings ;
* $467.8m (35.0%) use for enhancing its research and technology capabilities ;
* the balance of $133.7m (10.0%) as additional working capital.
CHART
IPO NEWS
No related information.
RELATED STOCK COMPARISON
Code Name Nominal Change %Change
01806HUIFU PAYMENTup2.5000.0903.734%
08083CHINA YOUZANdown1.350-0.020-1.460%
08325CHINA SMARTPAYunchange0.1400.0000.000%
09923YEAHKAup21.3003.68020.885%
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
  Quote data is at least 15-min delayed,last updated: 03/07/2020 17:58
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