东方支付集团控股(08613)发布截至2025年9月30日止六个月的中期业绩，收益为721.6万港元，同比减少 62.95%;净亏损1905.7万港元，同比扩大19.7%;基本每股亏损0.99港仙。 ...

Despite tariffs, stick to inflation, and the lack of key data, the outlook for spending remains bullish, according to the Mastercard Economics Institute. Here with us now at Post9 is chief economist of the Mastercard Economics Institute, Michelle Meyer. It's good to have you back.Welcome. >> Thank you. >> So, what do you guys expect. >> Well, exactly what you said.I mean, the consumer is still very much engaged despite all of these different headlines. They're trying to navigate relative price differentials ...

Core Viewpoint - Global Payments (GPN) stock is considered a solid value buy due to its current trading below average valuation, reasonable revenue growth, and strong margins [1][5] Current Situation of GPN - GPN has experienced a decline of 34% this year but is now 38% more affordable based on its Price-to-Sales (P/S) ratio compared to one year ago, and it trades at a lower Price-to-Earnings (P/E) ratio than the S&P 500 median [5] - The company increased its adjusted operating margin by 110 basis points in Q3 2025, driven by strong performance and value-oriented pricing, with significant margin growth in its core merchant business [6] - Revenue acceleration in the merchant segment is attributed to new customers on the Genius platform and larger deal sizes, indicating enhanced organic growth [6] Strategic Developments - Ongoing strategic transformation includes the expected Worldpay acquisition and Issuer Solutions divestiture in Q1 2026, which are anticipated to enhance scale and market access across 40 new markets [6] - GPN's fundamentals show a reasonable revenue growth of 21.0% LTM and an average of 6.8% over the last three years, with an operating margin average of approximately 19.8% over the same period [9] Valuation Metrics - GPN stock is trading at a P/E multiple of 10.1, which is considered modest despite positive fundamentals [9] - The stock's current P/S ratio is below the average of the last few years, indicating potential for valuation re-rating [10]

Core Viewpoint - The company, Yika (09923), has demonstrated strong growth momentum in its business operations, particularly in overseas payment transactions, and is actively diversifying its services to provide comprehensive payment and value-added services to both domestic and international brand clients [1] Group 1: Financial Performance - As of the report, Yika's stock price increased by 5.58%, reaching HKD 7.95, with a trading volume of HKD 5.5642 million [1] - In Q3 2025, the overseas payment transaction volume (GPV) approached RMB 1.3 billion, surpassing the total overseas GPV of approximately RMB 1.1 billion for the entire previous year, marking a 50% increase from RMB 800 million in Q2 of this year [1] - Domestic GPV for the quarter reached RMB 616.3 billion [1] Group 2: Business Development - The company has seen a continuous increase in transaction volume for AI-generated digital human videos in Q3 2025, reinforcing its leading position in AI applications within the industry [1] - The in-store e-commerce business has achieved monthly profitability since Q2, and the company is making steady progress in expanding its overseas market [1] - Yika became one of the first service providers for Douyin in the Hong Kong and Macau regions, offering services to international brands such as Toshiba, China Telecom, and Haidilao [1]

Core Insights - The company reported a strong growth in overseas business, with a single-quarter GPV (Gross Payment Volume) nearing 1.3 billion RMB, surpassing the total overseas GPV of approximately 1.1 billion RMB from the previous year, and showing a 50% increase from 800 million RMB in the second quarter of this year [2] Overseas Business Performance - The company continues to empower international clients through its one-stop payment services and value-added service product lines [2] - The investment in Fushi Technology has expanded the service range, diversifying the merchant industry mix to include education, apparel, and beauty service providers [2] Domestic Business Development - The domestic merchant and partner ecosystem has become more comprehensive, collaborating with SaaS industry partners like Meituan to enhance service quality for merchants and consumers [2] - Joint acquiring partnerships with banks have further solidified the development foundation, driving sustainable profit growth in domestic one-stop payment services, with a payment transaction volume reaching 6.163 trillion RMB in the third quarter [2] Value-Added Services Expansion - The company has made significant progress in expanding vertical industry clients, successfully partnering with well-known platforms such as Taobao, Ctrip, and Didi [2] - The transaction volume of AI-generated digital human videos has continued to rise in the third quarter, further enhancing the sustainability of the company's overall profitability [2]

Core Viewpoint - The company, Yika (9923.HK), has shown significant growth in overseas payment transaction volume, indicating a strong expansion in its international market presence [1] Group 1: Financial Performance - In Q3 2025, Yika recorded overseas payment transaction volume (GPV) nearing 1.3 billion, surpassing the total overseas GPV of approximately 1.1 billion for the entire previous year, representing a growth of about 18% [1] - The overseas GPV increased by approximately 50% compared to Q2 2025, which was 800 million [1] - Domestic GPV reached 616.3 billion, continuing to show a quarter-on-quarter increase [1] Group 2: Market Expansion - The company has expanded its overseas merchant industry mix, which now includes sectors such as education, apparel, and beauty services [1] - Yika's one-stop payment and value-added service product line has seen further application in international markets [1] - Through investment in Fushi Technology, the company has broadened its service offerings, currently supporting brands like Playmade, Zhenbao, and Shilin Taiwanese Snacks across multiple Asian markets [1]

经济观察网11月24日，移卡(09923.HK)公布2025年第三季度业绩：海外支付交易量(GPV)达近13亿元人 民币，较第二季度的8亿元环比增长约50%，并已超过2024年全年海外GPV(约11亿元)。公司持续拓展海 外品牌客户，商户行业组合进一步多元化，涵盖教育、服装、美业等服务领域。通过投资富匙科技，移 卡为PlayMade、珍宝(Jumbo)及士林台湾小吃等品牌在多个亚洲地区提供一站式支付与增值服务，盈利 能力稳步提升。 ...

Core Viewpoint - The company, Yika (09923), has demonstrated strong growth momentum in its business, particularly in overseas payment transactions, which have increased significantly in the third quarter of 2025 [1] Group 1: Financial Performance - Yika's overseas payment transaction volume (GPV) reached nearly RMB 1.3 billion in the third quarter, surpassing the total overseas GPV of approximately RMB 1.1 billion for the entire previous year, marking a 50% increase from RMB 800 million in the second quarter of this year [1] - Domestic GPV for the third quarter amounted to RMB 616.3 billion [1] Group 2: Business Development - The company is actively diversifying its business and providing one-stop payment and value-added services to domestic and international brand clients [1] - The AI-generated digital human video transactions continued to rise in the third quarter, reinforcing the company's leading position in AI applications within the industry [1] - The in-store e-commerce business has achieved monthly profitability since the second quarter, with steady progress in expanding overseas markets [1] - Yika became one of the first Douyin service providers in the Hong Kong and Macau regions, offering services to international brands such as Toshiba, China Telecom, and Haidilao [1]

11月24日早间，移卡有限公司（以下简称移卡，HK09923）发布2025年第三季度业绩自愿性公告。海外 业务增长亮眼，第三季度海外支付交易量（GPV）接近13亿元人民币，超过去年全年海外GPV（约11亿 元人民币），比今年第二季度的8亿元人民币上升约50%；第三季度国内GPV为6163亿元人民币。 移卡表示，展望未来，公司将持续夯实业务根基，积极拓展新市场，为全球更多地区和商户提供行业领 先、技术前沿的数字解决方案。 对此，移卡在公告中表示，一站式支付服务及增值服务产品线继续赋能国际客户，并通过投资企业富匙 科技扩大服务范围；商户行业组合进一步多元化，涵盖教育、服装、美业等服务提供商，新增多个国际 知名品牌。 增值服务业务方面，2025年第三季度AI自动生成数字人视频交易量持续上升，到店电商业务自第二季 度起连续实现月度盈利。 公开资料显示，移卡于2021年开始探索海外市场，拓展海外支付业务服务范围，提供一站式支付服务、 本地生活业务出海服务等，为海外商户提供商务赋能解决方案。 国内业务方面，移卡国内商户及合作伙伴体系更加全面，不仅与美团等SaaS行业生态伙伴合作，共同拓 展渠道并提升商户及消费者服务质量， ...

Core Viewpoint - Yika Limited (移卡) reported strong growth in its overseas business, with a single-quarter Gross Payment Volume (GPV) nearing 1.3 billion RMB, surpassing the projected annual GPV for 2024 of approximately 1.1 billion RMB, and showing a 50% increase from 800 million RMB in Q2 2023 [2][3]. Group 1: Overseas Business Performance - The company has been expanding its overseas market since 2021, obtaining various licenses including Hong Kong MSO, Singapore MPI, and U.S. MSB and MTL [3]. - Yika's one-stop payment services and value-added services continue to empower international clients, with a diversified merchant industry portfolio including education, apparel, and beauty services [2][4]. - The company has successfully partnered with several international brands such as Playmade, Jumbo, and Shihlin Taiwan Street Snacks [2]. Group 2: Domestic Business Development - Yika's domestic merchant and partner ecosystem has become more comprehensive, collaborating with SaaS industry partners like Meituan to enhance service quality [4]. - The domestic GPV reached 616.3 billion RMB in Q3, contributing to sustained profitability in one-stop payment services [4]. - Strategic adjustments have led to the e-commerce business achieving monthly profitability since Q2 2023 [6]. Group 3: Value-Added Services and Future Outlook - The growth in value-added services is attributed to strategic upgrades in the business model and the profitability of previously loss-making segments [5]. - Yika has made significant progress in expanding vertical industry clients, securing partnerships with well-known platforms like Taobao, Ctrip, and Didi [6]. - The company aims to solidify its business foundation and actively explore new markets to provide leading digital solutions globally [7].