Yeahka to LINK up startups to accelerate the digital transformation of the offline economy
SHENZHEN, China, Sept. 23, 2020 /PRNewswire/ -- On the evening of September 20, after the LINK 2020 Smart Business Ecosystem Summit, Yeahka and RYK Capital Partners hosted the second "LINK Night: Emerging CEO Salon". Founders of many companies gathered at the Salon to exchange and share insights on their business models and digitalization.
In his opening remarks, Mr. Luke Liu, the founder of Yeahka (Stock Code: 09923.HK) commented, "We set up the Salon to create an environment where our CEO friends and business founders can have an in-depth discussion primarily on investments and business." Mr. Luke Liu also recalled several key achievements from last year's Salon, shortly after which Yeahka and RYK Capital Partners invested in three to four companies. With these investments, the companies were able to scale up their businesses and rapidly develop in the industries. Their collaborations generated synergies and helped Yeahka to drive its revenue growth, achieving a win-win outcome for the involved parties that further demonstrate the value of the Salon.
RYK Capital Partners is an investment platform that was jointly established in March 2019 by Yeahka and its shareholder Recruit Holdings Co., Ltd., a renowned Japanese internet company.
Soon after the establishment of RYK Capital Partners, Yeahka, through the investment platform, increased its capital in Fushi Technology (Shenzhen) Co., Ltd.'s payment and service platform "Haoshengyi". This additional investment enabled "Haoshengyi" to further enhance its product offerings and management expertise in terms of the payment and service platform, while expanding its digital payments service scope to more merchants and consumers. "Haoshengyi" is now believed to be the second largest service provider, just after Shouqianba, in terms of offline marketing services for QR code-based fourth-party payments. In June 2020, Yeahka made a strategic investment in Shenzhen Zhibaiwei Technology Development Co., Ltd., a leading SaaS software developer specializing in the retail sector in China. Yeahka will further collaborate with Zhibaiwei on value-added services such as payment solutions, SaaS software, and marketing services. Fueled by the new investment, Zhibaiwei has grown to become one of China's leading companies that offers cloud software and services to the retail sector.
Several fast-growing startups are also in the process of finalizing investment terms with Yeahka.
Looking ahead, Yeahka will further increase strategic investments in upstream and downstream business sectors, as well as in basic technologies and core product upgrades. By leveraging its strong technological innovation capabilities, the Company will continue to facilitate the accelerated development of their payment ecosystem while creating tangible value for merchants and consumers.
With the rapidly growing needs of merchants and consumers for digitalization across various sectors, Yeahka will continue to lead industry-wide collaboration and remain committed to providing comprehensive and highly-efficient products and services, further boosting cross-sector interconnectivity and accelerating the digital transformation of the offline economy.
Mr. Luke Liu commented after the roadshow, "Amid the waves of small-store economy and digitalization, the Summit provides a forum for the industry to better tap the capital markets and strengthen strategic collaboration between companies for long-term growth."