Welcome to our dedicated page for Treasure Global news (Ticker: TGL), a resource for investors and traders seeking the latest updates and insights on Treasure Global stock.
Treasure Global Inc (TGL) is a cutting-edge technology solutions provider based in Malaysia, specializing in creating innovative platforms for the e-commerce and payment ecosystem. The company’s flagship product, the ZCITY App, offers a unique online-to-offline business model that provides consumers and merchants with instant rebates and cashback programs, while also delivering seamless e-payment solutions in both digital and physical retail environments. The app leverages advanced AI technology to offer personalized deals based on users' purchase history, location, and preferences, significantly enhancing user engagement and satisfaction.
Treasure Global has recently made significant strides in various sectors. For example, they have expanded into the beauty industry by promoting prestige Korean beauty products in Malaysia and Southeast Asia. This strategic move is expected to capitalize on the growing demand for Korean beauty products, which are projected to see substantial revenue growth in the coming years. Furthermore, the company has secured a strategic partnership that grants them the first right of refusal for an AI Blockchain Wallet, enhancing their competitive edge in the blockchain market and opening new avenues for revenue generation.
In the financial realm, Treasure Global reported promising results for the third quarter of the 2024 fiscal year. The company saw a notable increase in gross profit and a significant reduction in net loss. Additionally, Treasure Global has launched an at-the-market (ATM) offering to secure up to $2.99 million, which will be used to further their strategic initiatives and drive shareholder value.
Treasure Global is also making headway in the blockchain industry with innovative projects like the AI-powered crypto mining service integrated with their MVNO services. This initiative aims to fuse telecommunications and blockchain technology, offering users seamless crypto mining capabilities through their mobile services. This move not only opens a new revenue stream but also solidifies Treasure Global's position as a leader in technology-driven solutions.
Furthermore, the company’s TAZTE platform is transforming the food and beverage (F&B) sector in Malaysia. This digital management system provides merchants with an all-encompassing solution to digitalize their operations, thereby optimizing efficiency and increasing profitability. The platform has already shown significant growth in transactions and user engagement, and its market potential is projected to expand substantially in the coming years.
Overall, Treasure Global Inc continues to demonstrate its commitment to innovation and growth, leveraging advanced technologies to drive success across various industries. For more information, please visit https://treasureglobal.co/.
Treasure Global reported Q1 FY2025 financial results showing revenue of $207,371, down from $13.46 million in the prior year's quarter, reflecting a strategic pivot toward high-margin operations. Gross profit improved 6% to $172,172, with margin increasing to 83.0% from 1.2%. Operating loss reduced 58% to $811,677, while net loss narrowed 55% to $950,707. Loss per share improved from $(7.83) to $(0.35). The company, with 2.9 million registered users, continues its transformation focusing on enhancing profitability and streamlining operations through its ZCITY App platform.
Treasure Global Inc (NASDAQ: TGL) has announced a strategic partnership with Octagram Investment (OCTA) to enhance its ZCity e-commerce platform. The collaboration, valued at $2.8 million payable in TGL shares, focuses on integrating innovative mini-game modules to drive user engagement and growth.
OCTA will design and develop tailored modules for ZCity's user base, aligning with the platform's strategy to evolve its digital ecosystem. The partnership aims to provide seamless interaction between users and merchants across multiple services, including activities, travel, goods, and rewards.
OCTA's role extends beyond development to ongoing technical support, ensuring the modules remain fully integrated and functional. The games will comply with data security and privacy regulations, offering a seamless experience across web and mobile platforms.
Treasure Global Inc (NASDAQ: TGL) has announced the completion and termination of its at-the-market (ATM) equity offering program. The program, launched on March 22, 2024, with H.C. Wainwright & Co., as the sales agent, concluded on September 25, 2024. TGL successfully raised the maximum total gross proceeds of US$2,990,162.32 by selling 1,678,307 common shares.
The ATM Offering was initially set up to offer common shares totaling US$2,990,900. The net proceeds from this offering will be utilized to support Treasure Global's continued growth and corporate initiatives, including new business ventures and investments. The company emphasizes that this announcement does not constitute an offer to sell or solicit offers to buy securities.
Treasure Global Inc (NASDAQ: TGL) has appointed two new independent directors to strengthen its leadership team and enhance corporate governance. Mr. Leong Wei Ping, an Executive Director at Asia Television Holdings , brings expertise in international business operations, strategic planning, and corporate governance. Mr. Anand Ramakrishnan, Group Managing Director and CEO of Invest Energy Group, offers experience in deal origination, execution, and managing complex energy projects.
CEO Carlson Thow expressed confidence that these appointments will drive shareholder value and reinforce the company's commitment to excellence and innovation. The move aims to enhance Treasure Global's ability to navigate the evolving technological landscape and seize emerging opportunities as it continues to scale operations and expand globally.
Treasure Global Inc (NASDAQ: TGL) has announced the withdrawal of its S-1 Registration Statement filed on July 26, 2024, with the SEC. The decision comes in response to current market conditions, including recent declines in the company's share prices. The Registration Statement was not declared effective, and no securities were sold in connection with the offering.
CEO Carlson Thow stated that this move is part of a broader effort to protect shareholder value and pursue initiatives supporting long-term growth. The company is now evaluating alternative funding and strategic options, focusing on refining its business strategy to position itself for accelerated growth.
Treasure Global Inc (NASDAQ: TGL) announces plans to integrate TikTok Shop with ZSTORE, an online grocery store within the ZCITY Super APP. This strategic move aims to enhance TGL's global reach and provide a seamless shopping experience. Key points include:
1. Access to TikTok's 150 million viewers and 55 million US shoppers
2. Benefiting ZSTORE's 2,061 merchants with increased visibility
3. Seamless shopping for ZCITY's 2.7 million users
4. Tapping into the projected $913 billion social commerce market in 2023
5. Potential to scale sales through social media's expansive reach
CEO Carlson Thow emphasizes the strategic importance of this integration for the company's growth and user experience enhancement.
Treasure Global Inc (NASDAQ: TGL) has announced preliminary pro forma results for the fiscal year ended June 30, 2024. The company expects to report total revenue of approximately $22.1 million. The preliminary pro forma loss from operations is anticipated to be around $5.6 million, representing a significant improvement with a reduction of about $4.6 million compared to fiscal year 2023. This decrease is attributed to effective cost management and operational efficiencies.
The preliminary pro forma net loss attributable to common stockholders is expected to be approximately $6.2 million, a decrease of around $5.5 million compared to the previous fiscal year. These results are subject to completion of the audit for the transition period from April 1, 2024, to June 30, 2024, and the company's year-end closing process.
Treasure Global Inc (NASDAQ: TGL) has announced a strategic collaboration with VCI Global (NASDAQ: VCIG) and Cogia AG to roll out the VCIG Secure Cogia Messenger for ZCITY's 3 million users. This innovative application integrates military-grade encryption with a cryptocurrency wallet, targeting 1 million active users initially.
The ZCITY Super App aims to revolutionize e-payments and enhance user privacy. It addresses the needs of unbanked populations by offering secure communication and financial services. The integrated wallet allows users to send, receive, and store digital assets, including cryptocurrency rewards. The rollout will be implemented in phases, starting with a group of ZCITY users before expanding to the broader user base.
Treasure Global Inc (NASDAQ: TGL) announced its plan to acquire 100% shareholding of Who Knows Wins (WKW), a UK-based innovative online sports engagement platform. The acquisition aligns with Treasure Global's strategic vision to leverage technology for revenue growth and expansion in the US market. WKW operates a robust proprietary platform with features like real-time sports data feeds, social integration, and anti-money laundering measures, catering to 65,000 users. The acquisition will enhance Treasure Global's offerings, drive multiple revenue streams, and position WKW as a key player in the sports engagement industry. WKW's partnership with GolfNow , a subsidiary of NBC, further strengthens its market position. The global sports technology market is projected to grow at a CAGR of 20.8% from 2023 to 2030, driven by increasing demand for interactive fan experiences.
ZCITY Sdn Bhd, a subsidiary of Treasure Global (NASDAQ: TGL), has announced a strategic partnership with Ezytronic Sdn Bhd to develop and support AI GPU rental services. This collaboration aims to enhance ZCITY's technological offerings and meet the growing demand for high-performance computing resources. The partnership is expected to create new revenue streams for ZCITY, leveraging the increasing adoption of AI technologies by businesses.
Ezytronic will be responsible for deployment and client support, using advanced Nvidia AI GPUs, including H200, H100, and A100 series. The partnership targets the rapidly expanding global cloud GPU market, projected to grow from USD 3.17 billion in 2023 to USD 47.24 billion by 2032, with a CAGR of 35%. This move positions ZCITY to cater to diverse industries such as healthcare, finance, and entertainment, driving innovation and operational excellence.
FAQ
What is the current stock price of Treasure Global (TGL)?
What is the market cap of Treasure Global (TGL)?
What is Treasure Global's core business?
What are the recent achievements of Treasure Global Inc?
How has Treasure Global performed financially in the recent quarter?
What is the ZCITY App?
What are some of Treasure Global's strategic initiatives?
How is Treasure Global leveraging blockchain technology?
What is the market potential for Treasure Global’s TAZTE platform?
How many users does the ZCITY App have?
What industries does Treasure Global operate in?
Where is Treasure Global Inc based?
