Yeahka (9923.HK) Issues HK$549.23 million Convertible Bond Maturing in 2027

HONG KONG,July 5,2022 -- Yeahka Limited ("Yeahka" or the "Company",Stock code: 9923.HK),a leading payment-based technology platform in China,is pleased to announce that the Company has issued an approximately HK$549.23 million convertible bond maturing in 2027 on July 5,2022. J.P. Morgan and Credit Suisse acted as the joint global coordinators on the transaction.

Following the successful allotment of shares and issuance of new shares in 2020,the Company successfully issued convertible bonds in 2022,further proving the Company's recognition from the capital markets under volatile economic conditions,repeated pandemic outbreaks in China,and rising interest rates. The Company intends to use the net proceeds for the expansion of its overseas business,including building a commercial digitalized ecosystem in Southeast Asia and East Asia to accelerate the progress of the Company's globalization efforts. Furthermore,the Company intends to use the net proceeds to strengthen the competitiveness of its business in China,including product research and development,marketing and promotions,talent recruiting,further accelerating the scale of its in-store e-commerce business,and elevating the local lifestyle industry threshold.

In 2022,despite the regional resurgence of the pandemicin China,the Company continued to maintain solid growth momentum. Yeahka serves 7.5 million small and medium-sized offline merchants in more than 300 cities across the country. Due to the low geographic concentration of our merchants,the GPV in the first quarter increased by 18.2% YoY despite the impact of Covid-19. As the Company enhances its leading market position in the payment industry,it also gradually increased its payment fee rate. The in-store e-commerce services fully leverage resources from the payment-based ecosystem and maintain rapid growth with practical investment. In the first quarter,the GMV reached RMB 560 million,the number of paying consumers reached 4.7 million,and the Monthly Active Users (MAU) of all channels peaked at over 16 million.

Mr. Luke Liu,Chairman of the Board,Chief Executive Officer and Executive Director of Yeahka,said,"We always adhere to our long-term goal of building an independent and scalable commercial digitalized ecosystem. In 2022,the business environment in China was repeatedly affected by the pandemic. Our marketing and channel strategies and diversified revenue streams helped us effectively cope with the adverse effects of the pandemic in certain regions,enabling us to continue to achieve steady growth as shown in our financial and operational performance indicators. In the future,we will continue to improve our network effect,exploit the value within the ecosystem,enrich our product mix,extend business boundaries,elevate return on investments,explore further growth opportunities,and create sustainable long-term value for shareholders,employees,and society. "

About YEAHKA LIMITED (9923.HK)

Yeahka is a leading payment-based technology platform. Our goal is to build an independent and scalable commercial digitalized ecosystem. We seamlessly connect merchants and consumers through payment services of different kinds,including QR code and traditional bank card payment. And on this basis,we provide merchant solutions including SaaS digital solutions,precision marketing services,and fintech services to help merchants better manage and drive business growth. In addition,we also launched in-store e-commerce services in December 2020,providing consumers with one-stop local lifestyle services of great value.