Core Viewpoint - The article highlights the steady growth and profitability of Yika Co., Ltd. (移卡), emphasizing its strong performance in overseas payment business and the integration of AI technology to enhance operational efficiency and revenue growth [2][3]. Financial Performance - In 2025, Yika achieved a total revenue of 3.311 billion RMB, representing a year-on-year growth of 7.3% [5]. - The net profit attributable to shareholders reached 92.24 million RMB, with an increase of 11.9% compared to the previous year [6]. - The core EBITDA rose to 353 million RMB, marking a significant growth of 52.7% [6]. Business Segments - The one-stop payment segment generated revenue of 2.902 billion RMB, up 8.0% year-on-year, maintaining a stable foundation [5]. - Merchant solutions saw an advertising transaction volume of 3.6 billion RMB, a 13% increase, setting a new historical high [5]. - The in-store e-commerce business achieved a GMV exceeding 4.4 billion RMB, with a nearly 50% year-on-year growth [5]. Profitability and Efficiency - Yika's gross profit increased by 8.1% to 788 million RMB, with a gross margin improvement in the one-stop payment business reaching 14.5% [6][7]. - The overall fee rate improved from 11.5 basis points in 2024 to 12.4 basis points in 2025, contributing to the revenue growth in the one-stop payment segment [7]. - The company has optimized its cost structure, with total sales, administrative, and R&D expenses decreasing by 13.2% compared to the previous year [9]. AI Integration - AI technology plays a crucial role in driving business growth and improving operational efficiency across Yika's three main business segments [8][9]. - The company has established a dedicated institution since 2017 to track and research innovative technologies, leading to the integration of AI into various business processes [8]. - AI applications include automated risk control, marketing enhancement, and operational support, significantly reducing operational costs [9]. Overseas Market Expansion - Yika's overseas payment business recorded a transaction volume (GPV) of approximately 5 billion RMB, a substantial increase of 323.3% year-on-year [12]. - The company has obtained local payment licenses in key markets such as Hong Kong, Singapore, and the United States, facilitating its global expansion strategy [13][14]. - Yika aims to focus on regions with high growth potential in non-cash payments, leveraging its technological expertise and local talent to address merchant challenges [14].