Treasure Global Reports Third Quarter Fiscal Year 2024 Results

Reported Gross Profit of Approximately $0.22 Million for Third Quarter Fiscal 2024, up 47% Year-Over-Year

Secured a USD$2 million marketing contract aimed to promote prestigious Korean beauty products using its advanced AI Marketing Engine, strategically leveraging the vast revenue potential of the Malaysian and Southeast Asia beauty market

Emerged as Exclusive Partner for AI Blockchain Wallet on Telegram, Paving the Way for New Business Opportunities and Spearheading Innovation in the Blockchain Industry

Won the silver trophy for Best eCommerce Solution of the MARKETING-INTERACTIVE Asia eCommerce Awards 2023

Successfully Regained Compliance with Nasdaq Minimum Bid Price Requirement.

NEW YORK and KUALA LUMPUR, Malaysia, May 15, 2024 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) (“TGL,” “Treasure Global” or the “Company”), an innovative technology solutions provider, today reported its financial results for the third quarter of the 2024 fiscal year ended March 31, 2024, and provided a business update.

“I am thrilled to announce the achievement of the ZCITY Premium Store, which has not only expanded our product portfolio but has also significantly contributed to the enhancement of our gross profit margins. This growth perfectly aligns with our strategic vision and path forward,” stated Sam Teo, Chief Executive Officer of TGL.

“In the third quarter of fiscal year 2024, we successfully filed an S-3 and initiated an at the market (“ATM”) offering, with the potential to secure up to USD$2.99 million in aggregate offering proceeds. This strategic financing has provided us with necessary capital while maintaining flexibility and alignment with our growth strategies. The proceeds will drive our business initiatives, creating more value for shareholders. Moving forward, we'll intensify our artificial intelligence (“AI”) initiatives, expand into new markets, and build upon achievements. Stay tuned as we commit to delivering lasting value and fostering steady growth for our stakeholders.”

Sam Teo continued “With the establishment of our partnership as the exclusive partner for an AI Blockchain Wallet on Telegram, we are at the forefront of driving innovation in the blockchain sector. This strategic decision not only expands our portfolio but also reinforces our competitive advantage by securing the first right of refusal. Moreover, it opens up promising new business opportunities within the blockchain market.”