Yeahka Invests RMB100 million to Acquire 60% Stake in Qianqianhui to Expand its In-Store e-Commerce Service Solutions

  • General

HONG KONG, Nov 11, 2021 – (ACN Newswire) – Yeahka Limited (“Yeahka” or the “Company”, Stock Code: 09923), a leading payment-based technology platform in China, announced today that it has agreed to invest RMB100 million in Dingding Cultural Tourism (Chengdu) Co., Ltd. (the parent company of Qianqianhui, “Qianqianhui”) as registered capital and capital reserve of Qianqianhui. Following the acquisition, Yeahka will hold 60% of the enlarged share capital of Qianqianhui, and Qianqianhui will be integrated into Yeahka’s in-store e-commerce services solutions segment.

Yeahka’s strategic investment in Qianqianhui further strengthens the Company’s capabilities in its technology-enabled business services segment by deepening the connection between merchants and consumers, and improving the sales performance of merchants. At the same time, consumers will be able to conveniently enjoy local lifestyle benefits such as discounts and promotions.

Liu Yingqi, Chairman and Chief Executive Officer of Yeahka, said, “Qianqianhui has been a highly competitive player in the local lifestyle services market in China, and our company delivers services to millions of merchants that have expressed a great deal of interest in more local lifestyle service solutions. We look forward to continuously creating value for merchants and consumers, and realizing synergies between our existing businesses.”

Chen Jiading, Founder of Qianqianhui, said, “Qianqianhui has accumulated extensive experience and capabilities in local lifestyle services, e-commerce services and the distribution through of new media KOL. We are delighted to join the Yeahka family and look forward to writing the next chapter as we roll out our combined capabilities in the local lifestyle services market.

Qianqianhui is a highly competitive player in local lifestyle services, delivering a high of nearly RMB100 million in GMV in a single month

Established in May 2020, the Qianqianhui platform positions itself as a popular “high-end shopping platform,” offering users access to tourist attractions, high-end resorts, buffets, catering, other local lifestyle services and products.

In just the half year following its establishment, Qianqianhui achieved breakthroughs in terms of both revenue and business scale. To-date, the platform has served more than 6 million merchants, and its peak monthly GMV has exceeded RMB93 million. Qianqianhui has branches in first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, as well as key provincial cities such as Chengdu, Hangzhou, Changsha and Suzhou.

As a highly competitive player in the local lifestyle services sector in the post-mobile Internet era, Qianqianhui has emerged as a strong player through its precise product positioning and the extensive experience of its management team.

In terms of merchandising, with its high-quality product supply chains and diversified channels, Qianqianhui helps merchants increase exposure and sales, reduce inventory…

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