According to the show’s producers, nearly all 20,000 tickets for the “Anh Trai Vượt Ngà n Công Gai” concert were sold out within 30 minutes of going on sale.
“Anh Trai Vượt Ngà n Công Gai” is the Vietnamese adaptation of the original Chinese show “Call Me By Fire,” owned by MangoTV. YeaH1 Corporation (HOSE: YEG) is the sole owner of the production rights in Vietnam.
This music reality show aired on VTV3 and YouTube from June 29, 2024, and was well-received by audiences in the 80s and 90s age group. Even before the contestants were announced, the show had already created a buzz online, consistently ranking among the most discussed programs on social media platforms (as per Kompa’s statistics). It also achieved a TOP 1 Rating on the national television channel VTV3 during its broadcast.
On August 31, 2024, the producers announced their plans to organize the show’s first-ever concert, “Anh Trai Vượt Ngà n Công Gai Concert 2024.” The event was scheduled for October 19, 2024, at Ravopark in Thu Duc City, Ho Chi Minh City.
When tickets officially went on sale at 11:00 AM on September 27, 2024, via the ticketbox platform, they sold out within just 30 minutes. Given the immense popularity of “Anh Trai Vượt Ngà n Công Gai 2024,” will the show’s producers be able to achieve the ambitious financial goals they have set for themselves?
Achieving One-Third of Profit Goals in the First Half
At the 2024 Annual General Meeting, despite acknowledging that the economy had not fully recovered, and advertising spending among businesses remained limited, impacting the television, event organization, and advertising industries, YEG still set forth two ambitious growth plans.
In an optimistic scenario, the company projected a revenue of 1,100 billion VND and a profit after tax of 105 billion VND, representing a 3.5-fold and nearly 4-fold increase, respectively, compared to the previous year. In a more conservative scenario, they expected a revenue and profit after tax, both 2.5 times higher than in 2023, amounting to 800 billion VND and 65 billion VND, respectively.
Addressing shareholders’ concerns about the feasibility of achieving such high growth targets, YEG’s Chairwoman, Le Phuong Thao, assured, “Our high-quality content production segment will significantly contribute to YeaH1’s revenue in 2024. We plan to produce four unique television shows that will stand out from the current offerings.”
| YEG’s Financial Performance in the First Half of 2024 |
For the first half of 2024, YeaH1’s revenue reached nearly 284 billion VND, doubling its revenue from the previous year. This revenue was primarily generated from three business segments: advertising and media consulting, service provision and e-commerce, and content licensing.
Despite increased cost pressures, YEG still managed to record a net profit of nearly 29 billion VND, almost triple that of the previous year. This semi-annual profit is the highest YEG has achieved in the last six years (since 2019) and even surpasses the full-year profits for the 2019-2022 period.
Compared to the optimistic and conservative plans, YEG has achieved about one-third of its profit target in the first half. This is considered a relatively positive result, given that the company’s leadership acknowledged that the first two quarters are typically the slowest for the entertainment industry as the economy recovers.
According to the YeaH1 Board of Directors’ assessment and plan announced at this year’s Annual General Meeting, revenue and profits are expected to surge in the third and fourth quarters of 2024, as these are the peak periods for the entertainment industry.
Plans to Increase Capital to 1,900 Billion VND
On September 9, YEG’s Board of Directors approved the detailed implementation of the plan to offer additional shares to existing shareholders to increase its charter capital.
Specifically, YeaH1 plans to offer over 54.8 million shares to existing shareholders, equivalent to 40% of the circulating shares at the time of the offering (for every 100 shares owned, shareholders can buy 40 newly issued shares). The offering price is set at the par value of 10,000 VND per share, expecting to raise over 548 billion VND.
The proceeds from this offering will be used to supplement the company’s operating capital, including: contributing additional capital to 1Production Joint Stock Company (211 billion VND); repaying loans used to purchase shares of Yeah1 Edigital Joint Stock Company (127 billion VND); repaying loans used to purchase shares of Netlink Vietnam Technology Communication Joint Stock Company (100 billion VND); repaying VietinBank loans (62.4 billion VND); and providing additional capital for content production activities (47.5 billion VND). The expected disbursement period is the fourth quarter of 2024 and/or the first quarter of 2025.
| YEG Share Price Movement from the Beginning of 2024 to September 27 |
In the market, YEG shares are currently trading at around 9,300 VND per share, down nearly 22% since the beginning of 2024. The average trading volume is 1.31 million shares per day.
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