Reported Gross Profit of Approximately
Secured a
Emerged as Exclusive Partner for AI Blockchain Wallet on Telegram, Paving the Way for New Business Opportunities and Spearheading Innovation in the Blockchain Industry
Won the silver trophy for Best eCommerce Solution of the MARKETING-INTERACTIVE Asia eCommerce Awards 2023
Successfully Regained Compliance with Nasdaq Minimum Bid Price Requirement.
“I am thrilled to announce the achievement of the
“In the third quarter of fiscal year 2024, we successfully filed an S-3 and initiated an at the market (“ATM”) offering, with the potential to secure up to
Recent Business Highlights
- Over 2.69 million registered users as of
March 31, 2024 . - 60% of paid users transacted three or more times in the quarter ended
March 31, 2024 . - Reported Gross Profit of Approximately
$0.22 Million for Third Quarter Fiscal 2024, up 47% Year-Over-Year. - Quarterly active users for the quarter ended
March 31, 2024 , were 41,458. - A total of 0.19 million transactions were transacted by our registered users in the quarter ended
March 31, 2024 . - Launched Live Commerce Solution on Meta Platforms, venturing into live shopping events, engaging thousands of viewers across multiple languages as Malaysia’s e-commerce market is projected to reach
$20.93 billion by 2029. - Announced our strategic alliance with
AIO Synergy , aimed at developing next-generation AI solutions and establishing a cutting-edge AI data center facility. The AI-Powered ZCITY Premium Store exceeded projections by selling over 6,000 Bill Saver Bonanza Packs within four months of launch, showcasing the efficacy in boosting transactions and revenue.- Regained Compliance with Nasdaq Minimum Bid Price Requirement.
- Unveiled discussions for ZCITY’s potential appointment as operator of the
Malaysia Pavilion , marking a significant opportunity to penetrate China’s thriving consumer market through collaboration with theShanghai Guangxi Chamber of Commerce , with the aim unlocking immense value and drive substantial revenue growth. - Entered the booming global gaming market by launching 10 mini-games integrated with AI Game Creator in ZCITY’s 3D World, marking a significant step forward in our integration progress.
- Achieved a silver trophy for Best eCommerce Solution at the MARKETING-INTERACTIVE Asia eCommerce Awards 2023.
- Secured a groundbreaking
$2 million marketing contract to promote prestige Korean beauty products through its advanced AI Marketing Engine, leveraging the Malaysian and SEA beauty market’s immense potential for revenue growth. - Emerged as the exclusive partner for an AI Blockchain Wallet on Telegram, spearheading innovation in the blockchain industry and expanding its portfolio while securing the first right of refusal, tapping into new business opportunities in the blockchain market.
Financial Results for the Third Quarter of Fiscal Year 2024
Total revenues: In the third quarter, total revenues amounted to
Gross profit: The gross profit for the third quarter of fiscal year 2024 reached
Net loss: The net loss decreased by approximately 41% from
Cash and cash equivalents: Cash and cash equivalents were approximately
Outlook for the Fourth Quarter of Fiscal Year 2024
Looking ahead to the fourth quarter of fiscal year 2024,
Through continuous efforts to reorient its strategic planning towards strengthening and expanding into higher profit margin channels,
Conference Call and Webcast Information
The Company will host a conference call and audio webcast today,
Event: | Treasure Global Third Quarter Fiscal Year 2024 Results Conference Call |
Date: | |
Time: | |
Live Call: | +1-877-704-4453 (Toll Free) or +1-201-389-0920 (International) |
Webcast: | https://viavid.webcasts.com/starthere.jsp?ei=1669648&tp_key=b0fb47ffb6 |
For interested individuals unable to join the conference call, a replay will be available through
About
For more information, please visit https://treasureglobal.co/.
Forward-Looking Statements:
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. It is important to carefully consider statements containing these words as they discuss future expectations and plans, projecting future results of operations or financial conditions or presenting other forward-looking information. Forward-looking statements are not guarantees of future performance; they are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company. These risks and uncertainties are detailed in the Risk Factors section of the Company’s Annual Report on Form 10-K for the fiscal year ended
For further information, please contact:
Investor Contact
ir_us@treasuregroup.co
Media Contact
sue@treasuregroup.co
Source:
2024 GlobeNewswire, Inc., source