YeaH1 Q1 Net Income Surges on Revenue from Content Licensing
YeaH1’s (YEG) net income for Q1 2024 has significantly increased due to approximately VND 27 billion in new revenue from its content licensing segment. Additionally, the company earned nearly VND 30 billion in net profit from investment divestments.
YEG’s Net Income by Quarter
Despite rising cost pressures, YEG reported a net income of over VND 17 billion, more than four times higher than the same period last year, due to the strong growth in both operating and financial revenue. This is also YEG’s highest quarterly net income in the past nine quarters (since Q4 2021).
YeaH1 will hold its annual General Meeting of Shareholders on May 6, 2024, to approve the 2024 business plan and other important matters.
According to the meeting document, YEG has developed two business plans for 2024. Under favorable conditions, the company projects to achieve revenue of VND 1,100 billion and net profit after tax of VND 105 billion, representing a 3.5-fold and nearly 4-fold increase from 2023, respectively. Under average conditions, revenue and net profit after tax are expected to double from 2023, reaching VND 800 billion and VND 65 billion.
After the first quarter, YEG has achieved 16% of its full-year net profit target under the favorable business plan.
As of March 31, 2024, YEG’s total assets were over VND 1,836 billion, approximately the same level as at the beginning of the year. Long-term investments, short-term and long-term receivables constituted the majority of the company’s assets.
Total liabilities decreased by 5% compared to the beginning of the year, now amounting to over VND 453 billion, primarily due to a 25% reduction in short-term borrowings to VND 129 billion.
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YeaH1 holds exclusive production rights to the Vietnamese adaptation of “Sister Riding the Wind and Waves” 2023 |
YeaH1, through its subsidiary STV Production, is the producer of the television show “Sister Riding the Wind and Waves 2023,” which has garnered significant public attention. The show is a Vietnamese adaptation of the highly successful Chinese TV show of the same name, which features female celebrities over the age of 30.
Following the success of “Sister Riding the Wind and Waves,” YeaH1 and production company 1 Production launched the reality TV show “Super Mom” in March 2024. This is a Vietnamese adaptation of the popular Chinese reality TV show about families, “Super Mom.”
In the coming months, YeaH1 plans to release “Brother Challenges,” a competition program for male celebrities over the age of 30, along with a second season of “Sister Riding the Wind and Waves.”
YeaH1 will launch the reality TV show “Farmer’s Delight” in the fourth quarter of 2024, a Vietnamese adaptation of the popular Chinese format “Farmer’s Delight.” The reality show aims to promote Vietnam’s image through its beautiful scenery, people, and rural culture.
By Khang Di
