Yeahka’s Associated Company Fushi to Acquire 60% of Shenzhen Zhizhanggui Cloud Service
HONG KONG, May 10, 2021 – (ACN Newswire) – Yeahka Limited (HKG: 9923), a leading payment-based technology platform in China, announced that Shenzhen Zhizhanggui Cloud Service Co., Ltd. (Zhizhanggui) and Shenzhen Leshou Cloud Technology Co., Ltd. (Leshou), both indirect wholly-owned subsidiaries, entered into a legally non-binding memorandum of understanding with Fushi Technology (Shenzhen) Co., Ltd. (Fushi), another associated company in which Yeahka holds an approximate 47.58% equity interest through indirect subsidiaries, regarding the potential disposal of Leshou’s 60% equity interest in Zhizhanggui to Fushi (the “Potential Disposal”). Based on Zhizhanggui’s valuation of approximately RMB336.5 million, the Potential Disposal by Leishun equates to a consideration of approximately RMB201.9 million, of which gains before tax are expected to realize more than RMB200 million.Fushi Technology is an important member of Yeahka’s ecosystem, expanding its merchant base and providing SaaS and other services to more than 420,000 merchants, with peak transactions over 8,380,000 as of March 31, 2021. Through its acquisition of Zhizhanggui, Fushi will obtain a cornerstone “hardware + software” standardized infrastructure and further accelerate its open-SaaS strategy by integrating established SaaS modules with offline merchants.Not only will the historical investment in Zhizhanggui yield significant returns for its new single largest shareholder, but Fushi Technology will be able to focus on asset-light, industry-agnostic SaaS solutions such as Yuehuiquan, the Yeahka blockchain’s underlying technology-based solution that enables merchants to operate with private domain traffic.Yeahka, with Fushi Technology, will continue to strengthen its SaaS portfolio, and remain committed to establishing a commercial, digital ecosystem.About YEAHKA LIMITED (9923.HK)Yeahka Limited is a leading payment-based technology platform in China providing payment and technology-enabled business services to merchants and consumers. The Company was listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) in June 2020 under the stock code “09923.HK”. The Company’s value proposition is to create a commercial digitalized ecosystem that enables seamless, convenient and reliable payment transactions between merchants and consumers and further offer a rich variety of technology-enabled business services, including (i) merchant SaaS products, which help customers improve their operational efficiency, (ii) precision marketing services, allowing customers to effectively reach their target markets, and (iii) fintech services, which cater to customers’ diverse financial needs. Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com
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