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AB International Group Corp. (OTCQB: ABQQ) is a distinguished intellectual property (IP) and movie investment firm, focused primarily on the acquisition and licensing of various entertainment properties. With a diverse portfolio spanning movie production, licensing, and distribution, ABQQ has established a significant presence in the global entertainment industry.
The company operates ABQQ.tv, a highly anticipated video streaming service targeting the multi-billion-dollar global video streaming market. This service is designed to offer a hybrid subscription and advertising business model, thereby generating a new and profitable revenue stream post-launch. It is positioned to capture a substantial audience in a rapidly growing industry.
In addition to streaming, ABQQ is heavily invested in the NFT space, launching the innovative NFT movie and music marketplace, NFT MMM. This platform serves as a unique entertainment industry Non-Fungible Token (NFT) marketplace, opening new possibilities for content monetization.
ABQQ has also ventured into cinema operations with the reopening of the Mt. Kisco Theatre in New York, under its subsidiary AB Cinemas NY, Inc. The theater has successfully screened a variety of blockbuster films from major studios like Universal Pictures, Warner Brothers, and Sony Pictures, among others.
Financially, ABQQ has shown substantial growth. For the year ended August 31, 2022, revenues increased by an impressive 2446% to $2,928,000, marking a significant turnaround from the previous fiscal year. This growth is attributed to their strategic focus on movie broadcast rights sales and expanding distribution channels.
The company's recent partnership with Universal Studios and United Artists Releasing further solidifies its standing in the industry, enabling it to distribute major motion pictures. Moreover, ABQQ has announced the launch of new films like
AB International Group (OTC: ABQQ) announced two major strategic moves: a share repurchase agreement and a business spin-off plan. The company will repurchase 300 million shares from four non-affiliate shareholders for $390,000 using cash on hand. Additionally, ABQQ plans to spin off its NFT MMM IP and AI Consulting division into a separate entity, tentatively named AB Digital Innovations, which will pursue its own IPO. The new company will focus on NFT marketplaces and AI consulting services, particularly in film production and distribution. The spin-off aims to provide existing ABQQ shareholders with shares in the new entity while potentially unlocking higher market valuations through specialized investment opportunities.
AB International Group (ABQQ) reported strong FY2024 financial results with revenue increasing 125% to $3.3 million and achieving operational profitability with net income of $542,331, compared to a net loss of $3.57 million in FY2023. Operating expenses decreased to $2.81 million from $5.03 million in the previous year. The company's Total Stockholders' Equity reached $1.46 million, up from $891K in FY2023. During FY2024, ABQQ repurchased 285 million shares for $50,699. The company announced plans to repurchase $5 million of shares by year-end 2025 and projects 150% revenue growth for FY2025 with EPS guidance of $0.001-$0.002.
AB International Group Corp. (OTC: ABQQ) has announced the launch of a wholly owned subsidiary in China, aiming to tap into one of the world's largest film markets. This strategic move allows ABQQ to gain direct access to the lucrative Chinese market, potentially increasing profit margins and enabling better content localization. The company has also formed a collaboration with Hua Xia Film Group for yearly film productions.
CEO Chiyuan Deng expressed confidence in the team's ability to adapt to local market dynamics and deliver content that resonates with Chinese audiences. However, ABQQ will face challenges such as navigating China's complex business environment and ensuring content compliance with local laws. The success of a newly released film will serve as a litmus test for this strategy.
AB International Group Corp. (OTC: ABQQ) announced a repurchase of 50,296,980 shares of common stock for cancelation. The company entered into Repurchase Agreements with seven non-affiliate shareholders, agreeing to buy back the shares for $50,297, funded by cash on hand. ABQQ's positive cash flow from net profitability is expected to enable further share repurchases in the near future.
The company also plans to launch ABQQ.tv, a video streaming service with a unique 'Cinematic Language Immersion' feature, in November. This service will partner with broadcasting rights owners of over 1,000 movies, potentially alleviating financial pressure on streaming rights purchases. ABQQ.tv is expected to generate monthly revenue of $150,000 to $250,000 initially, with significant increases projected as new films are added to the platform.
AB International Group Corp. (OTC: ABQQ), an intellectual property and movie investment firm, has reported significant business updates. The company achieved net profitability in the quarter ending May 31, 2024, with increased revenue and reduced net loss. ABQQ has fully repaid loans from its CEO and canceled a planned reverse stock split.
ABQQ's operations span various entertainment sectors:
- ABQQ.tv: A video streaming service featuring Chinese content
- Film Investment and Distribution: Global releases of films like "THE ONE" and "Wishes Come True"
- ABQQ Movie Theatre: Theatrical exhibition agreements with major studios
- NFT Movie and Music Marketplace (NFT MMM): A platform with significant licensing deals
The company's strategy combines traditional media with digital innovation, aiming for profitability through diverse revenue streams in the entertainment industry.
AB International Group Corp. (OTC: ABQQ) reported financial results for the period ended May 31, 2024, showing significant improvements. Revenues for the three months ended May 31, 2024, increased 22% to $698,311, compared to $573,389 in the same period last year. The company achieved net profitability, with a net income of $133,034 for the quarter, compared to a net loss of $647,743 in the previous year.
For the nine-month period, revenues increased 70% to $1,885,311, and the net loss reduced by 89% to $318,285. ABQQ expects to record a revenue increase of 80% to 120% and a profit of $200,000 to $250,000 for the fiscal year ending August 31, 2024. CEO Chiyuan Deng expressed confidence in reaching operational profitability by the end of 2024.
AB International Group Corp. (OTC: ABQQ) has announced the premiere of its fencing film 'THE ONE' (YiJianZhongQing) in Chinese cinemas. The company has secured a distribution agreement with Hua Xia Film Group, a leading nationwide distributor in China, for the movie's screening starting August 1, 2024. ABQQ has licensed the film to the distributor for a minimum fee of $300,000 for the mainland China market.
The announcement highlights China's significant position in the global movie industry, ranking second in box office revenue and movie production. In 2023, China held a 24% market share in the global movie industry. ABQQ, as an intellectual property and movie investment firm, operates AB Cinemas in NY and owns ABQQ.TV, an online streaming platform generating revenue through subscriptions and advertising.
AB International Group Corp. (OTCQB: ABQQ) released its unaudited financial results for the six months ending February 28, 2023. Total revenue declined to $535,251 from $1,800,000 in the prior year, primarily due to a lack of sales from copyrights and broadcast rights. The revenue was mainly generated from licensing its NFT MMM platform and new movie theatre operations, which yielded $177,965 in total for ticket and food sales. Conversely, total costs surged to $1,857,951 from $1,373,134, leading to a gross loss of $1,322,700, down from a gross profit of $426,866 a year earlier. The company anticipates future revenue growth from movie and TV rights sales, new subscriptions from ABQQ.tv, and continued operations of its cinema.
AB International Group Corp. (OTC: ABQQ), a firm specializing in intellectual property and movie investment, has announced the launch of the NFT for the Drama movie 'On the Way' on April 12, 2023, through its NFT marketplace, NFT MMM. This NFT drop includes 1,000,000 Stars, priced at $1 each, for 50% broadcast rights in mainland China. The company indicates that the movie will soon be available on major streaming platforms via VIP memberships. Additionally, ABQQ operates a movie theater in Mount Kisco, NY, and plans to further develop its online streaming service, ABQQ.tv, which is expected to generate a new revenue stream through a hybrid subscription and advertising model.
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