In 2022, Yeahka Limited (09923.HK) participated for the first time in the assessments for the S&P Global ESG Scores and Hang Seng Corporate Sustainability Indexes, earning impressive scores of 48 and A- (54.02), respectively. Yeahka’s S&P Global ESG score is equal to Tencent’s and higher than those of other internet companies such as Weimob, Meituan and Alibaba. Meanwhile, Yeahka’s Hang Seng ESG score is higher than both the industry average (50) and the average score of all Hong Kong listed companies that participated in the assessment (52).
Initiated by S&P Global in 1999, the S&P Global ESG Scores is one of the most influential and credible corporate sustainability assessments worldwide, with 11,000 companies invited to participate in 2022. The Hang Seng Corporate Sustainability Indexes is also a well-recognized ESG rating system among investment institutions, whose results are widely used in investment decisions.
As sustainable development becomes the new consensus, ESG ratings have become an important indicator used by the capital market to assess a company’s investment value. A high ESG rating implies more efficient management as well as better alignment with stakeholder expectations, indicating more favorable attention from the capital market.
With outstanding performance in corporate governance, environmental protection, consumer issues and social responsibility, Yeahka received impressive ratings in its first year participating in the assessments. In 2022, Yeahka established an ESG Committee, further strengthened its ESG governance structure and fully upgraded ESG governance authority and responsibilities within the company, and also conducted many compliance trainings internally.
In terms of environmental protection, Yeahka invested millions of RMB under the supervision and leadership of the ESG Committee to adopt green server rooms with low energy consumption, reducing its Power Usage Effectiveness (PUE) value to 1.56 and resulting in expected annual electricity savings of 798 MWh.
On the consumer side, in line with its core belief in establishing a commercial digitalized ecosystem, Yeahka is committed to expanding in-store e-commerce services that provide consumers with more convenient, favorable and timely lifestyle services. At the same time, the Company continues to optimize the product experience and enhance customer satisfaction through technology innovation.
Regarding social responsibility, Yeahka has strengthened its transaction risk control, making over 10 billion risk control decisions and conducting over 3 million risk control transactions in 2021. Yeahka continued to carry out the “Power of Small Shops” program, providing a total of RMB 22 million in financial support for small and medium-sized merchants in conjunction with third-party institutions.
Yeahka said: “We will continue to enhance ESG governance, integrating the concept of ESG development into our overall development strategy and embedding social responsibility concepts into every aspect of our operations. We are committed to helping our merchants and consumers live better through continuous technological innovation, as well as to creating long-term sustainable investment value through continuous sustainable development efforts.”
S&P Global ESG scores can be found on the official website:
https://www.spglobal.com/esg/scores/results?cid=4279124
About YEAHKA LIMITED (Stock Code: 9923.HK)
Yeahka is a leading payment-based technology platform dedicated to creating value for merchants and consumers. Our goal is to build an independent and scalable commercial digitalized ecosystem to enable seamless, convenient, and reliable payment services to merchants and consumers, and to further expand into serving merchants and consumers with our diversified product portfolio, which now includes (i) in-store e-commerce services, providing consumers with local lifestyle services of great value, and (ii) merchant solutions, enabling merchants to better manage and drive business growth.
Topic:Â Press release summary