Yeahka Limited (9923) AI Stock Analysis

• Market Cap: HK$5.59B
• Dividend Yield: N/A
• Average Volume (3M): 12.80M
• Price to Earnings (P/E): 50.1
• Beta (1Y): 1.47
• Revenue Growth: -9.32%
• EPS Growth: 477.27%
• Country: HK
• Employees: 871
• Sector: Technology
• Sector Strength: 83
• Industry: Software - Infrastructure
• EPS (TTM): 0.22
• Shares Outstanding: 462,162,450
• 10 Day Avg. Volume: 8,662,277
• 30 Day Avg. Volume: 12,800,441
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$15.75
• Price Target Upside: 32.91% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

• Rating: 61 Neutral
• Price Target: HK$17.00 ▲(43.46% Upside)

Yeahka Limited's stock score is primarily influenced by its strong technical performance, indicating positive market momentum. However, its financial performance presents mixed signals, with profitability improvements offset by revenue and cash flow challenges. The high valuation further pressures the overall score, suggesting caution for potential investors.

Positive Factors

Earnings Growth

Expect c.20% adjusted earnings growth for FY24-27F, driven by both revenue growth and margin improvement.

Overseas Strategy

Yeahka’s share price rallied strongly, supported by improving visibility in its overseas strategy, including supportive policies for cross-border RMB payments and receipt of a payment license in Arizona, US.

Revenue Growth

Overseas expansion and AI applications continue to support revenue growth and cost savings.

Negative Factors

Financial Performance

FY24 results below expectation with lower-than-expected revenue at Rmb 3bn due to 19% y/y decline in GPV.

Macroeconomic Challenges

Weaker than expected China’s macro-economic environment and retail consumption growth, and intensifying competition in the in-store environment are challenges.

Yeahka Limited Business Overview & Revenue Model

Company Description

Yeahka Limited operates payment-based technology platform that provides payment and business services to merchants and consumers in China. It offers one-stop payment services, which include app-based and traditional payment services. The company also provides technology-enabled business services, including various merchant SaaS products, precision marketing, and fintech services. In addition, it offers in-store e-commerce services, including provision of display in-store, hotel and travel services or various goods of merchants through its platform. The company was incorporated in 2011 and is headquartered in Shenzhen, the People's Republic of China.

How the Company Makes Money

Yeahka Limited generates revenue through multiple streams centered around its payment services platform. The primary revenue source is transaction fees collected from merchants for processing payments via its platform, which supports various payment methods including QR codes and mobile payments. Additionally, Yeahka earns from its technology-enabled business services by providing SaaS solutions and data analytics tools that help merchants optimize their operations and customer engagement. The company also derives income from its in-store e-commerce solutions, where it facilitates consumer and merchant interactions, driving sales and providing marketing services. Significant partnerships with financial institutions and technology providers enhance its ecosystem, contributing to its revenue growth.

Yeahka Limited Financial Statement Overview

Summary

Yeahka Limited has a strong cost management and improving profitability, but faces challenges in revenue growth and cash flow generation. The healthy gross profit margin and improved net profit margin indicate efficiency, but the decline in revenue and negative cash flows pose significant concerns.

Income Statement

Yeahka Limited has shown a mixed performance in its income statement. The gross profit margin remains healthy, indicating cost control, but revenue has declined year-over-year, impacting overall growth. The net profit margin has improved significantly, driven by an increase in net income, suggesting improved efficiency. However, the declining revenue trend raises concerns about future growth prospects.

Balance Sheet

The balance sheet reveals a strong equity base, with a favorable equity ratio, indicating financial stability. The debt-to-equity ratio is manageable, suggesting prudent use of leverage. However, the declining total assets and stockholders' equity over time could indicate potential risks if this trend continues.

Cash Flow

The cash flow statement shows challenges, with negative operating and free cash flows in recent years. This indicates potential issues with generating cash from operations, which could strain liquidity if not addressed. The absence of positive cash flow growth is a concern for sustaining operations without external financing.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.09B	3.95B	3.42B	3.06B	2.29B
Gross Profit	728.76M	738.16M	1.03B	814.62M	743.68M
EBITDA	17.53M	181.30M	105.00M	69.29M	442.13M
Net Income	82.45M	11.63M	153.92M	420.93M	438.91M
Balance Sheet
Total Assets	7.71B	8.42B	7.29B	6.76B	5.62B
Cash, Cash Equivalents and Short-Term Investments	600.24M	935.17M	1.65B	2.11B	2.66B
Total Debt	967.92M	1.24B	1.09B	551.25M	266.57M
Total Liabilities	5.12B	5.80B	4.61B	3.56B	2.46B
Stockholders Equity	2.67B	2.71B	2.77B	3.26B	3.12B
Cash Flow
Free Cash Flow	110.73M	-346.08M	186.03M	-193.05M	-20.05M
Operating Cash Flow	118.91M	-317.20M	193.88M	-164.12M	-5.09M
Investing Cash Flow	6.21M	-321.46M	-480.67M	-166.05M	-82.47M
Financing Cash Flow	-419.79M	-72.47M	-254.42M	-129.67M	2.30B

Yeahka Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 11.85
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9923, the sentiment is Negative. The current price of 11.85 is below the 20-day moving average (MA) of 13.15, below the 50-day MA of 13.59, and above the 200-day MA of 10.25, indicating a neutral trend. The MACD of -0.34 indicates Positive momentum. The RSI at 31.93 is Neutral, neither overbought nor oversold. The STOCH value of 4.69 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9923.

Yeahka Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8062	74 Outperform	HK$139.20M	24.79	4.10%	6.90%	-26.14%	-82.03%
Sector *	61 Neutral	$35.62B	7.50	-10.94%	1.87%	8.86%	-10.27%
9923	61 Neutral	HK$5.59B	50.15	3.35%	―	-9.32%	477.27%
G9D	―	€111.90M	16.96	2.23%	―	―	―
0818	59 Neutral	HK$1.44B	10.12	1.98%	―	-17.60%	-6.20%
2598	47 Neutral	HK$16.94B	―		―	―	―
8613	38 Underperform	HK$148.43M	―	-380.55%	―	13.08%	8.63%

Yeahka Limited Corporate Events

Yeahka Limited Expands Global Payment Operations with Key Approvals in Japan

Yeahka Limited has announced that its subsidiary, Yeahpay Japan Limited, has completed its registration as a credit card number contract execution business operator in Japan under the Installment Sales Act. This development marks a significant expansion of Yeahka’s global payment presence, enhancing its ability to provide efficient payment solutions to overseas merchants and consumers. Additionally, the company has obtained the Payment Card Industry Data Security Standard certification, enabling it to conduct online and offline QR code payment acceptance services in Japan. This will accelerate its business momentum and strategic expansion in the Japanese market, while also strengthening its localized commercialization capabilities through synergies with its investee company, Fushi Technology.

The most recent analyst rating on (HK:9923) stock is a Buy with a HK$12.90 price target. To see the full list of analyst forecasts on Yeahka Limited stock, see the HK:9923 Stock Forecast page.

Yeahka Limited Successfully Passes All Resolutions at 2025 AGM

Yeahka Limited, a company incorporated in the Cayman Islands, held its Annual General Meeting (AGM) on June 5, 2025, where all proposed resolutions were passed by poll. Key resolutions included the adoption of the company’s financial statements for 2024, re-election of directors, reappointment of auditors, and granting of mandates to the board for share issuance and repurchase. This successful AGM outcome reinforces the company’s governance and operational strategies, potentially strengthening its position in the market.

The most recent analyst rating on (HK:9923) stock is a Buy with a HK$12.90 price target. To see the full list of analyst forecasts on Yeahka Limited stock, see the HK:9923 Stock Forecast page.