Yeah1 Group JSC (stock code: YEG) – the producer of the show “Anh trai vượt ngà n chông gai” – has recently reported to the Ho Chi Minh City Stock Exchange (HOSE) about the dissolution of Ting Vietnam Technology Company Limited, a related company.
Ting Vietnam Technology Company Limited was established in June 2020 and headquartered in Hanoi.
Yeah1 Group has also announced borrowing funds from several individuals, amounting to over VND 189 billion, to supplement their working capital for production and business activities, including investments and debt payments.
Specifically, Yeah1 borrowed over VND 54.7 billion from Ms. Nguyen Hai Tuong Vi, nearly VND 55.6 billion from Mr. Vo Xuan Huy, and over VND 79 billion from Ms. Vu Thi Tuyet Van. The loans have a term of one year with an interest rate of 8% per annum, and a penalty interest rate of 12% per annum for overdue payments.
YEG stock price movement from the beginning of 2024 until now. Source: Fireant
According to the company’s Q2/2024 financial report, Yeah1 recorded a revenue of VND 207.1 billion, 2.5 times higher than the same period last year, and the highest since Q1/2022.
Financial income also increased significantly, doubling to nearly VND 40 billion.
As a result, after expenses, Yeah1’s after-tax profit was VND 8.5 billion, a 66% increase compared to the same period in 2023.
In the first six months of 2024, Yeah1 recorded nearly VND 281 billion in revenue, almost double that of the same period last year, and an after-tax profit of over VND 20.5 billion, a 124.5% increase year-on-year, completing 30% of the annual profit target.
Yeah1 attributed the strong results to a 136% growth in revenue from advertising and media consulting services.
As of June 30, Yeah1’s total assets were VND 1,057 billion, an increase of over VND 100 billion compared to the end of 2023. Short-term receivables accounted for 95% (equivalent to VND 1,006 billion) of this amount, while cash and cash equivalents stood at only VND 7 billion.
As of the end of Q2/2024, the company’s total liabilities were VND 606.8 billion, an increase of nearly VND 130 billion from the beginning of the year. Short-term and long-term borrowings accounted for nearly 40%, equivalent to VND 240 billion, of this amount.
On the stock market, Yeah1’s stock price once shocked the market by surpassing the VND 320,000 per share mark shortly after its listing on HOSE.
Currently, the stock is trading at VND 9,000 per share, a more than 25% decrease compared to the beginning of the year.
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