Half Year 2024 Yeahka Ltd Earnings Call Transcript
Key Points
- Yeahka Ltd (YHEKF) maintained market leadership in one-stop payment services, reinforcing its foundation for high-quality growth.
- The company made significant strides in international expansion, winning over 200 global brands and covering more than 20,000 stores.
- Yeahka Ltd (YHEKF) integrated large language models for revenue-generating and cost-optimizing purposes, reducing selling and administrative expenses by over 10% year-over-year.
- The company's ESG efforts were recognized internationally, including being ranked first in its industry in China by S&P Global's 2024 Sustainability Yearbook.
- Gross profit margin increased from 17.7% in the first half of 2023 to 19% in the same period this year, driven by a higher proportion of nonpayment revenue.
- Revenue decreased by 23.5% from RMB 2.1 billion in the first half of 2023 to RMB 1.6 billion in the same period of 2024 due to macroeconomic volatility.
- The company proactively eliminated customers and projects with lower profitability, impacting overall revenue.
- Net loss in the first half of 2024 was RMB 15.6 million, although it decreased by 39.6% year-over-year.
- The macroeconomic environment in China led to a temporary decline in payment GPV, affecting the company's financial performance.
- The company faces challenges in maintaining its fee rate amid a competitive landscape and macroeconomic uncertainties.
Ladies and gentlemen, good day, and welcome to Yeahka Limited 2024 Interim Results Announcement Call. (Operator Instructions). Please be advised that today's conference is being recorded. I'll now pass the call to Mr. Vincent Chan, General Manager of Capital Markets for the company. Please go ahead, sir.
Thank you, and hello, everyone. Welcome to Yeahka's 2024 Interim Results Conference Call. Before we start, we would like to remind you that this presentation includes forward-looking statements that involve a number of risks and uncertainties. Information on general market conditions come from a variety of sources outside of Yeahka's control. Please refer to our disclosure documents on our website IR section for a detailed discussion of risk factors. Now let me introduce the management team on today's call.
Luke Liu, our Founder, Chairman and CEO, will kick off with a short overview. I will then provide a business review. John Yao, our CFO, will conclude with financial review, translated by
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