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LAKESIDE HOLDING PROVIDES FIRST QUARTER OF FISCAL YEAR 2025 RESULTS

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ITASCA, Ill., Nov. 15, 2024 /PRNewswire/ — Lakeside Holding Limited (“Lakeside” or the “Company”) (Nasdaq: LSH), a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market operating under the brand American Bear Logistics (“ABL”), today announced financial results for the first quarter of fiscal 2025, ended September 30, 2024.

Q1 2025 Financial Results:

Total revenues decreased by $66,922, or 1.6%, from $4,148,476 for the three months ended September 30, 2023, to $4,081,554 for the three months ended September 30, 2024. The decrease was primarily driven by a decrease in revenues from our cross-border airfreight solutions, partially offset by an increase in revenues from our cross-border ocean freight solutions.Revenue from our cross-border airfreight solutions segment decreased by $0.2 million or 8.2%, from $2.4 million in the three months ended September 30, 2023, to $2.2 million in the three months ended September 30, 2024. The decrease was primarily due to a decrease in the volume of cross-border air freight processed, from approximately 7,816 tons for the three months ended September 30, 2023, to approximately 7,273 tons for the three months ended September 30, 2024.Revenue from our cross-border ocean freight solutions segment increased by $0.1 million, or 7.8%, from $1.7 million in the three months ended September 30, 2023, to $1.8 million in the three months ended September 30, 2024. This growth was primarily due to an increase in the volume of cross-border ocean freights processed and forwarded, rising from 1,290 TEU in the three months ended September 30, 2023, to 1,430 TEU in the three months ended September 30, 2024.

Revenues by Customer Geographic

For the three months ended September 30,

2024

2023

Revenues

Amount

% of
total
Revenues

Amount

% of
total
Revenues

Amount
Increase
(Decrease)

Percentage
Increase
(Decrease)

Asia-based
   customers

$

2,809,636

68.8

%

$

1,694,223

40.8

%

$

1,115,413

65.8

%

U.S.-
   based customers

1,271,918

31.2

%

2,454,253

59.2

%

(1,182,335)

(48.2)

%

Total revenues

$

4,081,554

100.0

%

$

4,148,476

100.0

%

$

(66,922)

(1.6)

%

Revenues from Asia-based customers increased by $1.1 million, or 65.8%, from $1.7 million in the three months ended September 30, 2023, to $2.8 million in the three months ended September 30, 2024. The increase in revenues from Asia-based customers was driven by a surge in volume from these customers, particularly those serving large e-commerce platforms. This growth reflects the rising demand for our services, a direct result of the overall expansion of the U.S. e-commerce market.Revenues from U.S.-based customers decreased by $1.2 million, or 48.2%, from $2.5 million in the three months ended September 30, 2023, to $1.3 million in the same period in 2024.Cost of revenues increased by $0.1 million, or 1.7%, from $3.5 million in the three months ended September 30, 2023, to $3.6 million in the three months ended September 30, 2024.Gross profit decreased by $0.1 million, or 19.3%, from $0.6 million in the three months ended September 30, 2023, to $0.5 million in the three months ended September 30, 2024. Our gross margin was 12.8% for the three months ended September 30, 2024, compared to 15.6% for the three months ended September 30, 2023. The decline in gross margin was primarily attributable to reduced revenue from the airfreight solutions segment and 2) an increase in our cost of revenue in warehouse services, customs declaration, and terminal charges.General and administrative expenses increased by $1.0 million, or 114.7%, from $0.9 million in the three months ended September 30, 2023, to $1.8 million in the three months ended September 30, 2024. These expenses represented 45.0% and 20.6% of our total revenues for the three months ended September 30, 2024 and 2023, respectively. The increase was primarily attributed to higher salary and employee benefit expenses, professional fees, office and travel expenses, insurance, and entertainment expenses. The increase was primarily attributed to the following:Salaries and employee benefits expenses increased by $0.3 million, or 116.9%, from $0.5 million in the three months ended September 30, 2023, to $0.8 million in the three months ended September 30, 2024. Our salaries and employee benefits expenses represented 50.3% and 66.8% of our total general and administrative expenses for the three months ended September 30, 2024, and 2023, respectively. The increase was mainly due to recruiting additional sales, customer services, and back-office support personnel to support our business growth.Professional fees increased by $0.3 million, or 1,839.6%, from $17,535 in the three months ended September 30, 2023, to $340,114 in the three months ended September 30, 2024. Our professional fee represented 18.5% and 2.0% of our total general and administrative expenses for the three months ended September 30, 2024 and 2023, respectively. The increase was primarily due to audit fees, legal fees, consulting expenses, investor-related expenses, and financial reporting service fees for the three months ended September 30, 2024. In the three months ended September 30, 2023, most expenses directly related to the offering were not included in professional fees, as they were accounted for as deferred initial public offering assets.Net loss was $1.3 million and $0.3 million for the three months ended September 30, 2024 and 2023, respectively.

Management Commentary

Henry Liu, Chairman and Chief Executive Officer of Lakeside, commented, “Our first quarter results for fiscal year 2025 reflect both ongoing growth opportunities and some temporary challenges in our cross-border airfreight segment. Although total revenue declined slightly by 1.6% compared to the same quarter last year, we achieved solid gains in cross-border ocean freight, with segment revenues increasing by 7.8% due to stronger demand from Asia-based customers. This demand surge, particularly among large e-commerce clients, affirms our strategy to focus on expanding high-growth markets and highlights the success of our operational partnerships in the region.”

“As we look ahead, we anticipate a rebound in revenue for the next quarter, driven by increased air freight demand for the upcoming holiday season as online purchases ramp up. We have expanded our production capacity to accommodate higher volumes and are prepared to meet rising customer demand efficiently. Additionally, the continued decrease in ocean freight charges is fueling import and export activities, while the broader shift toward e-commerce underscores the need for timely and competitively priced deliveries. We are confident in our ability to deliver on these needs, backed by our investments in advanced logistics technology and strategic facility expansions, including our new Dallas-Fort Worth site. We believe these efforts position us well for the quarters ahead as we strive to enhance value for our shareholders and customers, ” said Mr. Liu.

Q1 2025 Operational Highlights

In July, we closed our upsized initial public offering of 1,500,000 shares of common stock at a public offering price of $4.50 per share to the public for a total of $6,750,000 of gross proceeds to the Company before deducting underwriting discounts and offering expenses.In July, we entered into a one-year renewable agreement with a leading Asia-based e-commerce platform to provide logistics services, including freight, customs, and parcel handling. The partnership uses advanced API integration to offer real-time supply chain visibility for sellers, enhancing the customer experience.In August, we announced a partnership to provide customs brokerage services for a major social media and e-commerce platform, offering real-time logistics data through API integration. This deal streamlines customs clearance and enhances inventory and delivery visibility for platform sellers.In September, we announced the launch of a Pick & Pack Fulfillment service for a major Chinese logistics company, offering inventory management and order processing across U.S. hubs. The service improves lead times and optimizes fulfillment efficiency.In September, we announced the expansion of our Dallas-Fort Worth operations, more than doubling its space to 46,657 sq. ft. and increasing staff to meet growing demand. The new facility is equipped with advanced technology to improve logistics efficiency and support business growth.

About Lakeside Holding Limited

Lakeside Holding Limited, based in Itasca, IL, is a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market, including China and South Korea. Operating under the brand American Bear Logistics, we primarily provide customized cross-border ocean freight solutions and airfreight solutions in the U.S. that specifically cater to our customers’ requirements and needs in transporting goods into the U.S. We are an Asian American-owned business rooted in the U.S. with in-depth understanding of both the U.S. and Asian international trading and logistics service markets. Our customers are typically Asia- and U.S.-based logistics service companies serving large e-commerce platforms, social commerce platforms, and manufacturers to sell and transport consumer and industrial goods made in Asia into the U.S. For more information, please visit https://lakeside-holding.com.    

Safe Harbor Statement

This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors, including those listed under “Risk Factors,” may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.

Investor Relations Contact:

Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com

*** tables follow ***

LAKESIDE HOLDING LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

As of

As of

September 30,

June 30,

2024

2024

(unaudited)

(audited)

ASSETS

CURRENT ASSETS

   Cash and cash equivalent

$

2,739,275

$

123,550

   Accounts receivable – third parties, net

1,786,451

2,082,152

   Accounts receivable – related party, net

505,361

763,285

   Prepayment and other receivable

113,198

–

   Contract assets

41,301

129,506

   Due from related parties

645,318

441,279

Total current assets

5,830,904

3,539,772

NON-CURRENT ASSETS

   Investment in other entity

15,741

15,741

   Property and equipment at cost, net of accumulated depreciation

314,496

344,883

   Right of use operating lease assets

4,320,579

3,471,172

   Right of use financing lease assets

29,881

37,476

   Deferred tax asset

–

89,581

   Deferred offering costs

–

1,492,798

   Deposit and repayment

298,217

202,336

Total non-current assets

4,978,914

5,653,987

TOTAL ASSETS

$

10,809,818

$

9,193,759

LIABILITIES AND EQUITY

CURRENT LIABILITIES

   Accounts payables – third parties

$

758,963

$

1,161,858

   Accounts payables – related parties

70,872

227,722

   Accrued liabilities and other payables

869,109

1,335,804

   Current portion of obligations under operating leases

1,891,877

1,186,809

   Current portion of obligations under financing leases

34,214

37,619

   Loans payable, current

484,725

746,962

   Dividend payable

98,850

98,850

   Tax payable

79,825

79,825

   Due to shareholders

138,107

1,018,281

Total current liabilities

4,426,542

5,893,730

NON-CURRENT LIABILITIES

   Loans payable, non-current

105,166

136,375

   Obligations under operating leases, non-current

2,646,597

2,506,402

   Obligations under financing leases, non-current

13,233

17,460

Total non-current liabilities

2,764,996

2,660,237

TOTAL LIABILITIES

$

7,191,538

$

8,553,967

Commitments and Contingencies

EQUITY

Common stocks, $0.0001 par value, 200,000,000 shares authorized,
   7,500,000 and 6,000,000 issued and outstanding as of
   September 30, 2024 and June 30, 2024, respectively*

750

600

Subscription receivable

–

(600)

Additional paid-in capital

4,942,791

642,639

Accumulated other comprehensive income

15,965

2,972

Deficits

(1,341,226)

(5,819)

Total equity

3,618,280

639,792

TOTAL LIABILITIES AND EQUITY

$

10,809,818

$

9,193,759

 

 

LAKESIDE HOLDING LIMITED

CONDENSED CONSOLIDATED STATEMENT OF INCOME (LOSS) AND
COMPREHENSIVE INCOME (LOSS)

(UNAUDITED)

For the Three Months Ended
September 30,

2024

2023

Revenue from third party

$

3,599,787

$

4,054,287

Revenue from related parties

481,767

94,189

Total revenue

4,081,554

4,148,476

Cost of revenue from third party

2,994,285

2,905,597

Cost of revenue from related parties

564,730

595,336

Total cost of revenue

3,559,015

3,500,933

Gross profit

522,539

647,543

Operating expenses:

General and administrative expenses

1,837,206

855,778

Loss from deconsolidation of a subsidiary

–

73,151

Provision of allowance for expected credit loss

12,837

52,122

Total operating expenses

1,850,043

981,051

Loss from operations

(1,327,504)

(333,508)

Other income (expense):

Other income, net

109,788

46,949

Interest expense

(28,110)

(22,785)

Total other income, net

81,678

24,164

Loss before income taxes

(1,245,826)

(309,344)

Income taxes expense (recovery)

89,581

(2,059)

Net loss and comprehensive loss

(1,335,407)

(307,285)

Net loss attributable to non-controlling interest

–

(3,025)

Net loss attributable to common stockholders

(1,335,407)

(304,260)

Other comprehensive loss

Foreign currency translation gain

12,993

3,122

Comprehensive loss

(1,322,414)

(304,163)

Less: comprehensive loss attributable to non-controlling interest

–

(3,119)

Comprehensive loss attributable to the common shareholders

$

(1,322,414)

$

(301,044)

Loss per share – basic and diluted

$

(0.18)

$

(0.05)

Weighted average shares outstanding – basic and diluted*

7,500,000

6,000,000

  

 

LAKESIDE HOLDING LIMITED

CONDENSSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

For the Three Months Ended

September 30,

2024

2023

Cash flows from operating activities:

  Net loss

$

(1,335,407)

$

(307,285)

Adjustments to reconcile net loss to net cash provided by operating
  activities:

  Depreciation – G&A

17,995

17,995

  Depreciation – cost of revenue

18,164

18,165

  Amortization of operating lease assets

466,723

219,571

  Depreciation of right-of-use finance assets

7,595

7,332

  Provision of allowance for expected credit loss

12,837

52,122

  Deferred tax expense (benefit)

89,581

(2,059)

  Loss from derecognition of shares in subsidiary

–

73,151

Changes in operating assets and liabilities:

  Accounts receivable – third parties

282,864

(138,491)

  Accounts receivable – related parties

257,924

(65,995)

  Contract assets

88,205

26,213

  Due from related parties

(77,812)

49,182

  Prepayment, other deposit

(176,572)

2,623

  Accounts payables – third parties

(402,895)

133,904

  Accounts payables – related parties

(156,850)

141,213

  Accrued expense and other payables

(24,876)

37,739

  Operating lease liabilities

(470,260)

(225,023)

Net cash (used in) provided by operating activities

(1,402,784)

40,357

Cash flows from investing activities:

  Payment made for investment in other entity

–

(29,906)

  Net cash outflow from deconsolidation of a subsidiary (Appendix A)

–

(48,893)

  Prepayment for system installation

(32,507)

–

  Acquisition of property and equipment

(5,772)

–

Net cash used in investing activities

(38,279)

(78,799)

Cash flows from financing activities:

  Proceeds from loans

–

225,000

  Repayment of loans

(265,456)

(122,137)

  Repayment of equipment and vehicle loans

(27,990)

(29,678)

  Principal payment of finance lease liabilities

(7,632)

(6,425)

  Proceeds from initial public offering, net of share issuance costs

5,351,281

–

  Advanced to related parties

(126,227)

–

  Repayment to shareholders

(879,574)

–

Net cash provided by financing activities

4,044,402

66,760

Effect of exchange rate changes on cash and cash equivalents

12,386

3,216

Net decrease in cash and cash equivalent

2,615,725

31,534

Cash and cash equivalent, beginning of the period

123,550

174,018

Cash and cash equivalent, end of the period

$

2,739,275

$

205,552

SUPPLEMENTAL DISCLOSURES OF CASH FLOW
  INFORMATION:

  Cash paid for income tax

$

—

$

—

  Cash paid for interest

$

6,274

$

6,462

SUPPLEMENTAL SCHEDULE OF NON-CASH IN FINANCING
  ACTIVITIES

  Deferred offering costs within due to shareholders

$

—

$

230,000

NON-CASH ACTIVITIES

Right of use assets obtained in exchange for operating lease
  obligations

$

1,244,140

$

—

Right of use assets obtained in exchange for finance lease obligation

$

—

$

—

APPENDIX A – Net cash outflow from deconsolidation of a
  subsidiary

  Working capital, net

$

29,812

  Investment in other entity recognized

(15,741)

  Elimination of NCl at deconsolidation of a subsidiary

10,187

  Loss from deconsolidation of a subsidiary

(73,151)

  Cash

$

(48,893)

 

 

View original content:https://www.prnewswire.com/news-releases/lakeside-holding-provides-first-quarter-of-fiscal-year-2025-results-302307095.html

SOURCE Lakeside Holding Limited

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TiTE x IHT 2026: The Definitive Hub for Taiwan’s Hardware Manufacturing Excellence

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May 6, 2026

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TAICHUNG, May 6, 2026 /PRNewswire/ — When sourcing from Taiwan, location is the ultimate strategic advantage. Don’t be misled by smaller, general trade shows held in city centers like Taipei. To truly connect with the source, you must go where the products are born. TiTE x IHT (Oct 20-22, 2026) in Taichung is the undisputed largest and most vital hardware industrial expo on the island. Hosted directly in the heart of Taiwan’s precision manufacturing cluster, this event features 1,000+ booths and 500+ top-tier manufacturers, offering a scale and industrial depth that no other exhibition can replicate.

Why Global Buyers Choose the Taichung Source Over Urban Trade Shows:

The Revolutionary “Exhibition as Factory” Model: Taichung is the global epicenter for hardware, home to 70% of Taiwan’s industry output. Our unique location enables the “30-Minute Sourcing Circle.” This allows you to verify high-end samples on the show floor in the morning and audit world-class production lines by the afternoon. By eliminating the travel gap between the booth and the factory, we reduce traditional procurement cycles from weeks to hours, providing unmatched transparency for R&D, capacity assessment, and quality control.ESG & CBAM Compliance for Western Markets: As the EU’s Carbon Border Adjustment Mechanism (CBAM) and global ESG mandates reshape trade, our exhibitors are already ahead of the curve. Discover CBAM-ready solutions and green manufacturing processes specifically designed to meet the strict sustainability requirements of the European and American markets. We provide more than just tools; we provide carbon-footprint-managed resilience for your brand.AI-Driven Smart Manufacturing: Address global labor shortages and rising costs with Taiwan’s latest innovations. The 2026 expo focuses on “AI Empowerment,” showcasing collaborative robotics, automated digital inspection, and data-driven supply chain management. These technologies ensure lead-time stability and high-precision consistency for premium global brand owners.Direct Sourcing & Global Matchmaking: Skip the middlemen and trading agencies. Our “Global Buyer Day” offers exclusive, pre-arranged matchmaking with the actual OEMs/ODMs. This is the primary decision-making platform for major distributors seeking resilient, direct-to-factory partnerships that guarantee the best pricing and priority production slots.

Experience the synergy of smart manufacturing and global trade. Stop at the source—where the world’s hardware is actually built. Secure your competitive edge in the true heart of the industry.

【TiTE x IHT】

Date: October 20-22, 2026Venue: TICEC, Taichung, TaiwanRegister Now: https://accu.ps/g8MZ1SHousing Subsidy: https://forms.gle/34VHVxSrEw7g8GxDAOfficial Website: https://www.hardwareexpotw.com

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SOURCE TiTE x IHT

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KIST Accelerates U.S. Expansion of Quantum Deep-Tech Startups Through SelectUSA 2026

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2 hours ago

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May 6, 2026

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SEOUL, South Korea, May 5, 2026 /PRNewswire/ — The Korea Institute of Science and Technology (KIST) President Oh Sang-rok announced that it will participate in the SelectUSA Investment Summit 2026 as part of a Korean delegation, together with quantum technology startups supported by the Ministry of SMEs and Startups under the Deeptech Project (DIPS).

The initiative, supported by South Korea’s Ministry of SMEs and Startups (MSS), is part of the government’s “Deeptech Incubator Project for Startups” (DIPS) initiative, which aims to nurture globally competitive deep-tech ventures.

KIST, which serves as the lead institution for the quantum technology sector under the program, said it will oversee the global commercialization efforts of participating firms. In particular, the “Global Bridge Program,” jointly developed with the U.S. Embassy in Korea in September 2025, is an official program designed to generate tangible overseas expansion outcomes by linking investment attraction with local market entry through diplomatic channels.

Organized by the U.S. Department of Commerce, the SelectUSA Investment Summit is the largest investment promotion event in the US, connecting international startups with venture capital firms, corporate investors and state-level economic development agencies.

It serves as an execution-oriented platform that extends to investment, corporate establishment, site selection, and tax incentives, and is considered a key entry gateway for deep-tech companies, including those in quantum technology.

KIST said participation in the summit is particularly significant for deep-tech sectors such as quantum technology, where access to the US innovation ecosystem is seen as key to growth.

The program is conducted in two stages. From April 30 to May 1, companies took part in a spin-off program hosted by the State of Maryland, which included visits to research institutions and tours of the regional quantum technology ecosystem.

During this period, the delegation also conducted localized activities with the Maryland state government and its economic development agencies, focusing on investment attraction, corporate collaboration, and joint R&D. In addition, on May 5, the delegation held discussions with U.S. Department of Commerce Deputy Secretary William Kimmitt on potential areas of cooperation.

The delegation will also meet officials from Fairfax County Government to explore collaboration and investment opportunities.

The main summit, currently ongoing from May 3 to May 6, features exhibitions, pitching sessions and meetings with US state representatives, with participating firms expected to engage in discussions on investment and market entry.

The delegation is structured to encompass the entire quantum industry rather than a single technology domain.

The Korean delegation comprises five startups, alongside Kyung Hee University Department of Future Science & Technology Commercialization Policy and Entrepreneurship, with approximately 20 participants forming an integrated ecosystem that combines research institutes, academia, and startups, enabling a full-cycle support system from technology validation to commercialization and global expansion.

One of the firms, OptiQ-Labs, was selected for an official pitching session on May 4, where it presented its laser-based optical modules designed for ion-trap quantum computing systems.

This highly competitive program selects only around 100 companies from more than 20,000 applicants worldwide. If selected as the winner of the pitching session, the company will receive follow-up meetings with U.S. state governments and economic development agencies, access to global investor networks, support for local entity establishment, and connections to site selection and tax incentive programs.

Other participating companies include QUAD, which develops single-photon detection technology; SLEEX, focused on underwater sensing; Elixir (StatUp AI), which works on quantum-classical hybrid algorithms for healthcare; and SQK (QMEDIC), specializing in physics-based imaging solutions.

KIST Project Director, Kang Sunjoon, said, “This program represents a critical milestone for Korean quantum startups to directly connect with global investors and industry ecosystems. Via the DIPS program, we are actively promoting the global commercialization of quantum technologies.”

Through its participation in SelectUSA, KIST has established a package-type global expansion model that integrates technology validation, investment attraction, and U.S. market entry.

The summit serves as a turning point for South Korea’s quantum sector, enabling startups to move into the next phase of validation, investment, and overseas expansion.

For more information, visit https://eng.kist.re.kr/.

About KIST 

KIST was established in 1966 as the first government-funded research institute in South Korea. KIST now strives to solve national and social challenges and secure growth engines through leading and innovative research.

About Participating Quantum Startups

QUAD, led by Chief Executive Officer, Oh Byung-doo, develops quantum sensing technologies based on superconducting nanowire single-photon detectors (SNSPDs), offering high sensitivity and precision with applications spanning quantum communication, quantum computing, semiconductor inspection, and defense.

SLEEX is developing an advanced perception technology that combines quantum LiDAR and electric field sensing to overcome limitations of existing underwater sensors, particularly by eliminating blind zones within the 0–2 meter range, with strong potential in autonomous navigation, maritime security, and defense, with Lee Jeho at the helm as Chief Executive Officer.  (https://www.thesleex.com)

Elixir, headed by Chief Executive Officer Jang Jung-kwon, develops a drug discovery and biomarker analysis platform based on quantum-classical hybrid algorithms, targeting the precision medicine market through the integration of bioinformatics and quantum machine learning. (statupai.com)

SQK develops medical imaging AI based on quantum-physics constraints, addressing the hallucination issues of conventional AI by ensuring physical consistency in CT and MRI reconstruction. Under the leadership of Chief Executive Officer Kim Yoon-hak, SQK is improving reliability and reducing the need for re-scans in clinical settings. (www.sqkcloud.com)

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SOURCE The Korea Institute of Science and Technology (KIST)

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Former Visa Asia Pacific Executive David Tay Joins YeahPay as Global Vice President

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May 6, 2026

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SINGAPORE, May 6, 2026 /PRNewswire/ — YeahPay, the international payment brand under YEAHKA (9923.HK), has appointed David Tay, a former senior executive at Visa Asia Pacific, as Global Vice President, tasking him with overseeing the strategic direction and product ecosystem development of YEAHKA’s overseas payment business. The appointment comes as global digital trade enters a new phase defined by ecosystem integration, with payment infrastructure undergoing a generational shift in acceleration.

David Tay, a Singaporean national, is a rising leader in the payments industry. During his career at Visa, David played a key role in driving business growth across multiple Southeast Asian markets, demonstrating early promise in commercial insight and innovation. He subsequently moved into Visa’s Innovation division, where he rose to serve as Head of Innovation, leading Visa Pacific’s product innovation and new business.

In that capacity, David led the commercialization of cutting-edge payment paradigms including Visa Flex Credential and Pay by Palm. He was also involved in the evaluation and governance of strategic partners across the region, accumulating deep expertise in collaborating with banks, fintechs, and large-scale enterprise merchants.

David’s track record spans the full go-to-market lifecycle, from concept to pilot to scale, as well as deep capabilities in cross-institutional partnerships and ecosystem development. His appointment comes at an inflection point for YEAHKA’s international expansion. According to YEAHKA’s 2025 annual report, its overseas business delivered full-year Gross Payment Volume (GPV) surpassing RMB 5 billion, representing a 323.3% year-on-year surge from RMB 1.1 billion in 2024.

View original content:https://www.prnewswire.com/apac/news-releases/former-visa-asia-pacific-executive-david-tay-joins-yeahpay-as-global-vice-president-302763652.html

SOURCE Yeahka

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