{"id":787017,"date":"2023-09-29T07:10:09","date_gmt":"2023-09-29T11:10:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/treasure-global-reports-fourth-quarter-fiscal-year-2023-results\/"},"modified":"2023-09-29T07:10:09","modified_gmt":"2023-09-29T11:10:09","slug":"treasure-global-reports-fourth-quarter-fiscal-year-2023-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/treasure-global-reports-fourth-quarter-fiscal-year-2023-results\/","title":{"rendered":"Treasure Global Reports Fourth Quarter & Fiscal Year 2023 Results"},"content":{"rendered":"
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\n Achieved ZCITY User Milestone Reaching Over 2.6 Million Registered Users as of September 25, 2023<\/em>\n <\/p>\n

\n Reported Gross Profit of Approximately $0.52 Million for Fiscal 2023, up 9.9% Year-Over-Year<\/em>\n <\/p>\n

\n Active User Retention Rate up 280% Year-Over-Year<\/em>\n <\/p>\n

\n 41% Of Paid Users Transacted Three or More Times a Quarter over Fiscal 2023, an Increase of Approximately 24% Year-Over-Year<\/em>\n <\/p>\n

NEW YORK and KUALA LUMPUR, Sept. 29, 2023 (GLOBE NEWSWIRE) — Treasure Global Inc (NASDAQ: TGL) (\u201cTGL\u201d, or the \u201cCompany\u201d), an innovative technology solutions provider, today reported its financial results for the fourth quarter and fiscal year ended June 30, 2023.<\/p>\n

\u201cTGL has made great headway in growing our reach across Malaysia, through strategic partnerships and new innovative enhancements made to our key product ZCITY,\u201d said Sam Teo, Chief Executive Officer of TGL. \u201cThrough our powerful technology platform, we have recruited a large and growing number of users, reaching over 2.6 million registered users to date. We believe we are positioned to capture additional market share as we roll out new technologies into ZCITY, such as our recently integrated AI technology with a user-friendly chatbot powered by our data analysis engine and ChatGPT.\u201d<\/p>\n

\u201cAs we move forward in fiscal 2024, we can increase the accuracy and effectiveness of our app, offering consumers a more personalized and targeted rewards experience,\u201d Mr. Teo continued. \u201cTGL is also continually expanding our market reach, growing into new categories such as travel, health & wellness, and events ticketing. We have already taken major steps to enter the Indonesian market, recently signing a Letter of Intent to form an e-commerce venture in Indonesia with Harmoni Bagi Dunia (\u201cHBD\u201d), granting HBD exclusive rights to promote and operate ZCITY in Indonesia, which has ten times the population of Malaysia.\u201d<\/p>\n

\u201cIn addition, we are entering the next stage of our growth plans of expanding further into the F&B industry in Malaysia, through TAZTE and Foodlink, as well as South-East Asia more broadly. We are excited to announce that we are well underway developing TAZTE 2.0, which will increase functionality on both the merchant and customer sides. TGL expects this upgrade, expected to launch next month, to attract new merchants and users to the platform, as well as increasing retention of current ones. In line with our expansion in the F&B industry, we advanced our position as a master franchisor, securing licensing agreements with popular brands Morganfields and Abe Yus that will provide new revenue streams and rapidly increase the uptake of TAZTE by new merchants. TGL also signed an agreement with the Malaysia Retail Chain Association for TAZTE to become its exclusive partner as the recommended digital F&B management solution to its members in Malaysia. Each of these advancements support our committed effort to increase user engagement to grow gross profit through fiscal 2024,\u201d concluded Mr. Teo.<\/p>\n

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