Yalla Group Ltd Files 20-F Annual Report

TL;DR

<b>Yalla Group Ltd has submitted its 2023 annual report on Form 20-F.</b>

AI Summary

Yalla Group Ltd (YALA) filed a Foreign Annual Report (20-F) with the SEC on April 23, 2024. Yalla Group Ltd filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located in Dubai, UAE. The filing includes data related to various financial statement line items and equity components. Key dates and plan memberships are referenced within the filing.

Why It Matters

For investors and stakeholders tracking Yalla Group Ltd, this filing contains several important signals. This filing provides a comprehensive overview of Yalla Group's financial performance and operations for the fiscal year 2023, crucial for investors to assess the company's health and future prospects. As a 20-F filing, it offers detailed information on the company's business, risk factors, and financial statements, enabling stakeholders to make informed investment decisions.

Risk Assessment

Risk Level: medium — Yalla Group Ltd shows moderate risk based on this filing. The filing contains numerous references to financial data and operational segments, indicating a complex business structure that may present inherent risks.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F filing to understand Yalla Group's performance and potential challenges in the past fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-23 — Filing Date (Filed as of date)
• 87 — Public Document Count (Number of documents in the filing)
• 0000950170-24-046629 — Accession Number (Unique identifier for the filing)

Key Players & Entities

• Yalla Group Ltd (company) — Filer of the 20-F report
• 2023-12-31 (date) — Conformed period of report
• 2024-04-23 (date) — Filed as of date
• Dubai (location) — Business address city
• Hangzhou, Zhejiang Province (location) — Mail address city
• FYXTech Corp (company) — Former company name
• 7370 (sic_code) — Standard Industrial Classification code
• 001-39552 (sec_file_number) — SEC file number

FAQ

Industry Context

Yalla Group Ltd operates in the technology sector, focusing on services like computer programming and data processing.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring foreign private issuers to submit annual reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the risk factors section to understand potential challenges and uncertainties.
3. Examine management's discussion and analysis for insights into business strategy and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 20-F filing.
• 2024-04-23: Filing Date — Date the 20-F report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 20-F filing for the fiscal year 2023, providing the latest annual financial and operational data.

Key Financial Figures

• $0.0001 — Class A ordinary shares, par value US$0.0001 per share* N/A New York Stock Excha
• $ — " are to the United Arab Emirates; "US$," "U.S. dollars," or "dollars" are to t
• $1 — t were made at a rate of AED3.6725 to US$1.00, the exchange rate at which AED has

Filing Documents

• yala-20231231.htm (20-F) — 3132KB
• yala-ex8_1.htm (EX-8.1) — 13KB
• yala-ex12_1.htm (EX-12.1) — 15KB
• yala-ex12_2.htm (EX-12.2) — 15KB
• yala-ex13_1.htm (EX-13.1) — 6KB
• yala-ex13_2.htm (EX-13.2) — 6KB
• yala-ex15_1.htm (EX-15.1) — 3KB
• yala-ex97_1.htm (EX-97.1) — 46KB
• img66218766_0.jpg (GRAPHIC) — 18KB
• img66218766_1.jpg (GRAPHIC) — 68KB
• img66218766_2.jpg (GRAPHIC) — 70KB
• img66218766_3.jpg (GRAPHIC) — 83KB
• img66218766_4.jpg (GRAPHIC) — 77KB
• img66218766_5.jpg (GRAPHIC) — 85KB
• img66218766_6.jpg (GRAPHIC) — 90KB
• img66218766_7.jpg (GRAPHIC) — 71KB
• 0000950170-24-046629.txt (&nbsp;) — 11891KB
• yala-20231231.xsd (EX-101.SCH) — 1302KB
• yala-20231231_htm.xml (XML) — 1766KB

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 104 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 106 PART II. 109 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 109 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 109 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 109 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 110 ITEM 16B. CODE OF ETHICS 110 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 110 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 110 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 111 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 111 ITEM 16G. CORPORATE GOVERNANCE 111 ITEM 16H. MINE SAFETY DISCLOSURE 112 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 112 ITEM 16J. INSIDER TRADING POLICIES 112 ITEM 16K. CYBERSECURITY 112 PART III. 116 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 116 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 116 ITEM 19. EXHIBITS 116 i CONVENTIONS THAT APPLY TO THIS ANNUAL REPORT ON FORM 20-F Except where the context otherwise requires, references in this annual report to: "active users" are to registered users who accessed any of our main mobile applications at least once during a given period. Yalla, Yalla Ludo and Yalla Parchis have been our main mobile applications for the periods presented herein; YallaChat and 101 Okey Yalla have been our main mobile applications since the fourth quarter of 2022; WeMuslim has been our main mobile application since the second quarter of 2023; and Ludo Royal has been our main mobile application since the third quarter of 2023; "ADSs" are to American depositary shares, each of which represents one Class A ordinary share; "AED" are to the United Arab Emirates dirham, the legal currency of the United Arab Emirates; "ARPPU" are to average revenues per paying user in a given period, which is calculated by dividing (i) revenues for such period, by (ii) the number of paying users for such period; "average MAUs" are to the average monthly active users in a given period calculated by dividing (i) the sum of active users for each month of such period, by (ii) the number of months in such period; "CAGR" are to compound annual growth rate; "China" and the "PRC" are to the People's Republic of China, excluding, for the purposes of this annual report only, Taiwan, the Hong Kong Special Administrative Region and the Macao Special Administrative Region; "MENA" are to the Middle East and North Africa region, including, for the purposes of this annual report only, Algeria, Bahrain, Egypt, Jordan, Kuwait, Morocco, Oman, Qatar, Saudi Arabia and the United Arab Emirates; "Net margin" are to net income as a percentage of revenues; "paying users" are to registered users who played a game or purchased our virtual items or upgrade services using virtual currencies on our main mobile applications at leas

IDENTITY OF D IRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF D IRECTORS, SENIOR MANAGEMENT AND ADVISERS Not Applicable.

OFFER STAT ISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STAT ISTICS AND EXPECTED TIMETABLE Not Applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION Our Operations in China We are a leading social networking and gaming platform in MENA, and we primarily generate revenue through our subsidiaries in the UAE. We have our headquarters in Dubai, and at the same time, our technology and product development team and certain members of our management, among others, are located in China, and we have operating subsidiaries incorporated under the laws of the PRC. Therefore, we face various risks and uncertainties related to operating in China. PRC government's significant authority in regulating our operations and its oversight and control over offerings conducted overseas by, and foreign investment in, issuers with operations in China could significantly limit or completely hinder our ability to offer or continue to offer securities to investors. Implementation of industry-wide regulations, including those affecting the Internet industry, may cause the value of our ADSs to significantly decline. Risks and uncertainties arising from the legal system in China, including risks and uncertainties regarding the enforcement of laws and quickly evolving rules and regulations in China, could result in a material adverse change in our operations and the value of our ADSs. See "—D. Risks Factors—Risks Relating to Doing Business in Certain Countries and Regions—The economic, political and social conditions in MENA and China, as well as government policies, laws and regulations, could affect our business, financial condition and results of operations." Holding Foreign Companies Accountable Act The Holding Foreign Companies Accountable Act, as amended, or the HFCA Act, was signed into law on December 18, 2020 and amended pursuant to the Consolidated Appropriations Act, 2023 on December 29, 2022. Under the HFCA Act and the rules issued by the SEC and the U.S. Public Company Accounting Oversight Board, or the PCAOB, thereunder, if we have retained a registered public accounting firm to issue an audit repor

View Full Filing

View this 20-F filing on SEC EDGAR