fbpx

Yeahka Acquires Additional 42.5% Equity Interest in Chuangxinzhong to Maximize Synergies in its Precision Marketing Services

HONG KONG, Dec. 25, 2020 /PRNewswire/ -- YEAHKA LIMITED ("Yeahka" or the "Company", stock code: 9923.HK), a leading technology platform in China, today announced that it has agreed to acquire an additional 42.5% stake in Beijing Chuangxinzhong Technology Co., Ltd. ("Chuangxinzhong") for RMB170 million, which increases the Company's stake to 85%. The consideration will be settled partially by payment of cash amount of RMB15 million and partially by the allotment and issue of 4,902,718 consideration shares by the Company at a price of HK$37.5 per consideration share.

Once issued, the consideration shares would represent approximately 1.10% of the existing issued share capital of Yeahka as at the date of the announcement and approximately 1.08% of the enlarged issued share capital. In November 2020, Yeahka announced its initial agreement to acquire a 42.5% stake in Chuangxinzhong. This additional agreement to increase Yeahka's stake in Chuangxinzhong demonstrates the Company's commitment to developing and enhancing its technology enabled business services with its focus on precision marketing.

Chuangxinzhong is a leading content performance marketing service provider in China and has accumulated a large advertiser base. It provides accurate content delivery through audience analysis based on big data, while providing advertisers with comprehensive performance marketing strategies, creativity, performance monitoring and optimization services. Given the Company's strong position in the market, the agreement is there to ensure Chuangxinzhong's commitment to delivering a net profit over the next three years of no less than RMB45 million, RMB53 million and RMB62 million, respectively.

Yeahka has striven to develop and expand its marketing platform for precision advertising based on offline traffic. Through its payment services, Yeahka is able to reduce the cost of acquiring marketing service customers, and maximize the value of its marketing services leveraging insights gained from merchants and consumers. The Company has also launched its Data Management Platform ("DMP"), Juliang, a precision advertising platform powered by AI and machine learning. Juliang has attracted a large amount of offline traffic from over ten offline payment-based channels, including gas stations, car parks, supermarkets and retailers, as well as colleges and universities.

The additional stake will enable Yeahka and Chuangxinzhong to achieve stronger synergies and further expand the Company's marketing services. The strategic cooperation will enable both companies to enhance their integration of high-quality resources, and unlock online and offline media resources and data.

Mr. Luke Liu, Chairman of the Board, Chief Executive Officer and Executive Director of Yeahka, remarked, "Our additional stake in Chuangxinzhong represents a critical step in the development and expansion of our precision marketing platform. Yeahka's core investment rationale is based on extensive potential synergies and strong relationships between two parties. On one hand, the cooperation with Chuangxinzhong will rapidly expand Yeahka's online advertising inventory and potential, which will enable Juliang to offer more effective services. The rapid expansion of customer profiles and traffic labels will further optimize Yeahka's adverting delivery model and improve its advertising efficiency to achieve favorable marketing ROIs for advertisers. On the other hand, the extensive experience of Chuangxinzhong's team in the advertising industry and their well-regarded capabilities in delivering precision online advertising will further strengthen overall capabilities and improve advertising creativity of Yeahka's marketing team, enabling Yeahka to achieve more effective marketing services for digital content."

About YEAHKA LIMITED (9923.HK)

YEAHKA LIMITED ("Yeahka" or the "Company") is a leading payment-based technology platform in China providing payment and technology-enabled business services to merchants and consumers. According to Oliver Wyman, we are the second largest non-bank independent QR code payment service provider in China, with approximately 14.0% market share in terms of transaction count in 2019. The Company's value proposition is a cohesive ecosystem that enables seamless, convenient and reliable payment transactions between merchants and consumers, and leveraging its vast customer base and data assets accumulated from payment services, to further offer a rich variety of technology-enabled business services, including (i) merchant SaaS products, which help customers improve their operational efficiency, (ii) marketing services, allowing customers to effectively reach their target markets, and (iii) fintech services, which cater to customers' financial needs.

Copyright

© PR Newswire

Fang Announces Outcome of the Hearing of the Grand...
Xinhua Silk Road: Guotai Junan Int'l's high income...
 

By accepting you will be accessing a service provided by a third-party external to https://chatpips.com/

 
     
 

Broker Search

Latest Spot Rate

 
27 January 2021
NEW YORK, Jan. 27, 2021 /PRNewswire/ -- Planet Green Holdings Corp. (the "Company") (NYSE American: PLAG) announced today that the Company has entered into a Share Purchase Agreement with three investors (the "Transaction"). Pursuant to the agreement...
27 January 2021
US data, Italian politics - MarketPulseMarketPulse Home/Central banks/COVID-19/News events/Newsfeed/Treasuries Share 0 Markets expect dovish signal from Fed The Fed’s first policy meeting of the year should be a dovish affirmation that signals they a...
27 January 2021
Earnings galore! - MarketPulseMarketPulse Home/COVID-19/Earnings season/News events/Newsfeed Share 0 Tech earning  in spotlight Today is the calm before a tech earnings storm and an FOMC policy decision that attempts to avoid any communication mistak...
27 January 2021
Japanese yen - MarketPulseMarketPulse Home/Central banks/COVID-19/FX/News events/Newsfeed Share 0 The Japanese yen continues to range-trade early in the week. Currently, USD/JPY is trading at 103.67, down 0.06% on the day. BoJ minutes note concern ov...
27 January 2021
HONG KONG, Jan. 27, 2021 /PRNewswire/ -- At a pivotal point in China-US relations, in the midst of COVID-19, and days following the inauguration of President Joe Biden, the United States and China are facing profound changes in their relationship and...
How It Works | About | Contact | Contributors | Privacy Policy | Advertise
© 2009 - 2021 ChatPips. All Rights Reserved. Terms of Use: The content on this website is solely for educational and informational purposes and is not a substitute for official documentation of the original owners. Daily economic news is provided by third-party website. This site is not operated by, sponsored by, endorsed by, or affiliated with any parties in any way. The website owner, the authors, the publishers, and all affiliates of ChatPips.com assume no responsibility or liability for your trading and investment results. You should always check and confirm with several sources with your licensed financial advisor and tax advisor to determine the suitability of any investment before making your final decision. Your continued usage and browsing of information on this website constitute your agreement to this Terms of Use. If you do not agree, please do not proceed to use this website. Brokers Directory: The companies license information were obtained from respective local jurisdiction. All other company and/or product names are trademarks and/or registered trademarks of their respective owners.