“Producer of ‘Brother Overcomes Many Obstacles’ Makes a New Move”

The purpose of this capital contribution is to supplement 1Production’s business operations. The expected timeframe for this investment is in 2024 and/or the first quarter of 2025. Following this capital injection, Yeah1’s investment value in 1Production will amount to VND 350 billion.

1Production Limited Company, established in 2023 and headquartered in Ho Chi Minh City, operates in the field of film and television production. Meanwhile, Yeah1, a conglomerate, previously announced that it had borrowed more than VND 189 billion from several individuals to supplement its production and business activities.

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 more than VND 79 billion from Ms. Vu Thi Tuyet Van. The borrowing period is one year with an interest rate of 8% per annum, and in case of overdue payment, a 12% interest rate will be applied.

“Anh Trai Vượt Ngàn Chông Gai” (Brother Overcoming Countless Obstacles) is the Vietnamese adaptation of the original Chinese show “Call Me By Fire” owned by MangoTV. In Vietnam, Yeah1 Group is the sole owner of the production rights for this program.

At the 2024 Annual General Meeting, Yeah1 Group’s CEO, Ms. Ngo Thi Hanh Van, shared that after the success of “Chị Đẹp Đạp Gió Rẽ Sóng” (Beautiful Sister Parts the Wind and Breaks the Waves), the company has invested significantly in “Anh Trai Vượt Ngàn Chông Gai,” demonstrating their commitment to this program.

In the first half of 2024, Yeah1 recorded revenue of nearly VND 281 billion, almost double that of the same period last year, and a post-tax profit of over VND 20.5 billion, a 124.5% increase compared to the first six months of the previous year, achieving 30% of the annual profit target.

This impressive performance is attributed to a 136% growth in revenue from advertising and media consulting services.

As of June 30, Yeah1’s total liabilities amounted to VND 606.8 billion, an increase of nearly VND 130 billion from the beginning of the year, with short-term and long-term borrowings accounting for nearly 40%, equivalent to VND 240 billion.

As of August 20, the company’s stock closed at VND 9,170 per share, a decrease of nearly 24% compared to the beginning of the year.