AGBA Group Releases Third Quarter 2023 Financial Results
2023年11月14日 - 11:00PM
NASDAQ-listed, AGBA Group Holding Limited (“AGBA” or “the
Company”) the leading one-stop financial supermarket in Hong Kong
released its financial results for its third quarter ended
September 30, 2023.
The Company generated USD 41 million in revenue
for the first nine months of 2023, which was more than double
compared to the first nine months of 2022 (up 115%). Revenues for
the third quarter of 2023 were approximately flat compared to
revenues for the third quarter of 2022. During the third quarter of
2023, the company expanded its platform by introducing new products
and supporting services for its financial consultants and
end-customers.
While macro-economic challenges globally and in
China continued to impact the Hong Kong economy, the third quarter
of 2023 also witnessed the announcement of several Hong Kong
government initiatives expected to provide a significant boost to
the local economy, including the capital investment entrant
scheme.
A major milestone in the company's history was
announced after the end of the third quarter. On November 8, 2023,
AGBA announced that it had entered into term sheets for a private
placement offering with an institutional investor, AGBA's Group
President, Mr. Wing-Fai Ng, and AGBA's management team, totaling
USD 6.2 million ("Share Placement"). The contemplated Share
Placement will fuel AGBA's ongoing expansion, accelerate its path
to profitability, enhance financial flexibility, and enable
strategic acquisitions to strengthen its market position.
Mr. Wing-Fai Ng, Group President of AGBA
Group Holding Limited stated, “We are optimistic that our
dedicated efforts will continue to provide momentum to successfully
close out 2023 and continue our upward trajectory in 2024. Our
primary focus will always be to maximize shareholder value through
rapid market share growth, innovation and strategic
initiatives.”
To view a detailed analysis of our Q3 financial
results and future outlook, please visit www.agba.com/ir. For more
details, please refer to the company’s report on Form 10-Q filed
with the Securities and Exchange Commission on November 14,
2023.
# # #
Safe Harbor Statement
This press release contains forward-looking
statements as defined by the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that
are other than statements of historical facts. When the Company
uses words such as "may," "will," "intend," "should," "believe,"
"expect," "anticipate," "project," "estimate" or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development; product and service demand and acceptance;
changes in technology; economic conditions; the outcome of any
legal proceedings that may be instituted against us following the
consummation of the business combination; expectations regarding
our strategies and future financial performance, including its
future business plans or objectives, prospective performance and
opportunities and competitors, revenues, products, pricing,
operating expenses, market trends, liquidity, cash flows and uses
of cash, capital expenditures, and our ability to invest in growth
initiatives and pursue acquisition opportunities; reputation and
brand; the impact of competition and pricing; government
regulations; fluctuations in general economic and business
conditions in Hong Kong and the international markets the Company
plans to serve and assumptions underlying or related to any of the
foregoing and other risks contained in reports filed by the Company
with the SEC, the length and severity of the recent coronavirus
outbreak, including its impacts across our business and operations.
For these reasons, among others, investors are cautioned not to
place undue reliance upon any forward-looking statements in this
press release. Additional factors are discussed in the Company's
filings with the SEC, which are available for review at
www.sec.gov. The Company undertakes no obligation to publicly
revise these forward–looking statements to reflect events or
circumstances that arise after the date hereof.
About AGBA Group:Established in
1993, AGBA Group Holding Limited (NASDAQ: “AGBA”) is a leading
one-stop financial supermarket based in Hong Kong offering the
broadest set of financial services and healthcare products in the
Guangdong-Hong Kong-Macao Greater Bay Area (GBA) through a tech-led
ecosystem, enabling clients to unlock the choices that best suit
their needs. Trusted by over 400,000 individual and corporate
customers, the Group is organized into four market-leading
businesses: Platform Business, Distribution Business, Healthcare
Business, and Fintech Business.
For more information about AGBA, please visit
www.agba.com
Investor Relations and Media
Contact:
Ms. Bethany Laimedia@agba.com/ ir@agba.com+852 5529 4500 |
Social Media Channels:
agbagroupLinkedIn | Twitter | Instagram | Facebook | YouTube |
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