Treasure Global reports robust growth with ZCITY Premium Store By Investing.com
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NEW YORK and KUALA LUMPUR – Treasure Global Inc (NASDAQ: TGL), a technology solutions provider, has announced the success of its ZCITY Premium Store, indicating a notable increase in sales and user engagement. The platform’s performance has contributed to the company’s 48% year-over-year revenue growth for the second quarter of fiscal year 2024.
Since its inception, the ZCITY Premium Store has sold over 6,000 Bill Saver Bonanza Packs, which include RM10 bill payment vouchers and Zcoins. This sales milestone underscores the platform’s role in boosting transaction volume and revenue for Treasure Global.
Utilizing AI tools, including those developed by OpenAI, ZCITY has harvested insights into consumer spending patterns, allowing for the personalization of packages to individual preferences. This strategy has led to heightened user engagement and satisfaction.
The company’s revenue growth is attributed in part to the Premium Store’s performance, with Treasure Global reporting a substantial uptick in its financials for the three-month period ending December 31, 2023. The company’s net loss also decreased from US$2.0 million to US$1.2 million year-to-year, reflecting the strategic impact of the Premium Store on the company’s profitability.
Sam Teo, CEO of Treasure Global, expressed confidence in the Premium Store’s achievements, attributing them to the company’s commitment to innovation and value delivery.
Treasure Global’s broader operations include the ZCITY App, a digital ecosystem for e-payments and rewards, and TAZTE, a digital F&B management system. The company also franchises popular restaurant chains in Southeast Asia, providing them with technology solutions. As of December 31, 2023, ZCITY boasted over 2.68 million registered users.
The information in this article is based on a press release statement from Treasure Global Inc.
InvestingPro Insights
Treasure Global Inc’s recent announcement about the success of its ZCITY Premium Store aligns with the positive performance reflected in some of its real-time metrics. According to InvestingPro data, the company has demonstrated a significant return over the last week, with a 47.37% price total return, highlighting investor enthusiasm in the short term. However, the broader picture shows a challenging environment, as evidenced by a 1-year price total return of -95.14%, suggesting that the company has faced considerable headwinds over a longer period.
The company’s market capitalization stands at a modest 5.58 million USD, which, when coupled with a negative P/E ratio of -0.12, indicates that Treasure Global is not currently profitable. This is further substantiated by a gross profit margin of just 1.42% for the last twelve months as of Q2 2024, pointing towards struggles in maintaining profitability.
InvestingPro Tips highlight some critical factors investors should consider. Treasure Global holds more cash than debt on its balance sheet, which could provide some financial flexibility in its operations. Yet, the company is quickly burning through cash, which is a concern for its sustainability and long-term growth prospects. Additionally, analysts anticipate a sales decline in the current year, which may put further pressure on the company’s financial health.
For readers interested in a deeper analysis of Treasure Global Inc, InvestingPro offers additional insights and metrics. There are more InvestingPro Tips available, which can help investors make informed decisions about the stock’s potential. To access these tips and more detailed data, visit https://www.investing.com/pro/TGL and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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© Reuters.
NEW YORK and KUALA LUMPUR – Treasure Global Inc (NASDAQ: TGL), a technology solutions provider, has announced the success of its ZCITY Premium Store, indicating a notable increase in sales and user engagement. The platform’s performance has contributed to the company’s 48% year-over-year revenue growth for the second quarter of fiscal year 2024.
Since its inception, the ZCITY Premium Store has sold over 6,000 Bill Saver Bonanza Packs, which include RM10 bill payment vouchers and Zcoins. This sales milestone underscores the platform’s role in boosting transaction volume and revenue for Treasure Global.
Utilizing AI tools, including those developed by OpenAI, ZCITY has harvested insights into consumer spending patterns, allowing for the personalization of packages to individual preferences. This strategy has led to heightened user engagement and satisfaction.
The company’s revenue growth is attributed in part to the Premium Store’s performance, with Treasure Global reporting a substantial uptick in its financials for the three-month period ending December 31, 2023. The company’s net loss also decreased from US$2.0 million to US$1.2 million year-to-year, reflecting the strategic impact of the Premium Store on the company’s profitability.
Sam Teo, CEO of Treasure Global, expressed confidence in the Premium Store’s achievements, attributing them to the company’s commitment to innovation and value delivery.
Treasure Global’s broader operations include the ZCITY App, a digital ecosystem for e-payments and rewards, and TAZTE, a digital F&B management system. The company also franchises popular restaurant chains in Southeast Asia, providing them with technology solutions. As of December 31, 2023, ZCITY boasted over 2.68 million registered users.
The information in this article is based on a press release statement from Treasure Global Inc.
InvestingPro Insights
Treasure Global Inc’s recent announcement about the success of its ZCITY Premium Store aligns with the positive performance reflected in some of its real-time metrics. According to InvestingPro data, the company has demonstrated a significant return over the last week, with a 47.37% price total return, highlighting investor enthusiasm in the short term. However, the broader picture shows a challenging environment, as evidenced by a 1-year price total return of -95.14%, suggesting that the company has faced considerable headwinds over a longer period.
The company’s market capitalization stands at a modest 5.58 million USD, which, when coupled with a negative P/E ratio of -0.12, indicates that Treasure Global is not currently profitable. This is further substantiated by a gross profit margin of just 1.42% for the last twelve months as of Q2 2024, pointing towards struggles in maintaining profitability.
InvestingPro Tips highlight some critical factors investors should consider. Treasure Global holds more cash than debt on its balance sheet, which could provide some financial flexibility in its operations. Yet, the company is quickly burning through cash, which is a concern for its sustainability and long-term growth prospects. Additionally, analysts anticipate a sales decline in the current year, which may put further pressure on the company’s financial health.
For readers interested in a deeper analysis of Treasure Global Inc, InvestingPro offers additional insights and metrics. There are more InvestingPro Tips available, which can help investors make informed decisions about the stock’s potential. To access these tips and more detailed data, visit https://www.investing.com/pro/TGL and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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