Core Insights - The company, Yika (9923.HK), reported a revenue of 1.642 billion RMB for the first half of 2025, reflecting a year-on-year growth of 4% [1] - The net profit for the same period was 41.37 million RMB, showing a significant increase of 27% compared to the previous year [1] - Gross profit reached 383 million RMB, with a gross profit margin rising from 19.0% to 23.3% [1] Financial Performance - Payment Gross Payment Volume (GPV) for the first half of 2025 was 11.4 trillion RMB, a decrease of 1.9% year-on-year, attributed to macroeconomic fluctuations affecting average transaction amounts [1] - The payment fee rate was 12.5 basis points, an increase of 1.0 basis point from the previous year [1] International Expansion - Yika's overseas transaction volume exceeded 1.5 billion RMB in the first half of 2025, surpassing the total of approximately 1.1 billion RMB for the entire previous year [1] - The overseas payment business fee rate reached 67.0 basis points, with a gross profit margin exceeding 50% [1] - The company has obtained various licenses, including the US MSB and Arizona MTL, and has received approval from Japan's Ministry of Economy, Trade and Industry to conduct online and offline payment services [2] Business Lines and Growth Strategies - Yika operates three main business lines: one-stop payment services, in-store e-commerce services, and merchant solutions [2] - The gross profit margin for one-stop payment services increased significantly to 13.7% in the first half of 2025, up from 6.9% in the same period of 2024, attributed to refined operations and dynamic pricing strategies [2] - Value-added services, including merchant solutions and in-store e-commerce services, maintained a high gross profit margin of 88.5% [2]
移卡上半年利润3.83亿元，海外业务交易量已超过去年全年