AGBA Solidifies Market Leadership with Expansion Plans and Focus on Tech/Fintech Innovation
LOS ANGELES, May 15, 2024 (GLOBE NEWSWIRE) -- NASDAQ-listed, AGBA Group Holding Limited ("AGBA" or the "Company" or the "Group"), the leading one-stop financial supermarket in Hong Kong released its financial results for the first quarter of 2024.
AGBA is thrilled to unveil its expansion plans, including the planned acquisition of Triller in the U.S. and the completion of the acquisition of Sony Life in Singapore. The Company is in the acquisition process with Triller and eagerly anticipates a successful completion. Upon completion, AGBA's headquarters will be relocated to Los Angeles.
The combined company will strategically focus on four key verticals: pioneering an industry-leading, global AI-driven social video platform; generating captivating influencer, artist, and sports content for a diverse global audience; establishing a technology-driven wealth management and financial services ecosystem; and making progressive investments in the dynamic fintech sector.
AGBA is actively pivoting its business to become a world-class tech/fintech-centric holding company, positioning itself to drive innovation and excellence in the industry. This sustained commitment to delivering results has solidified AGBA's market leadership, reaffirming its reputation as the go-to financial supermarket.
Mr. Wing-Fai Ng, Group President of AGBA Group Holding Limited stated, "AGBA's expansion plans signify an exciting milestone in our journey towards becoming a global leader in the tech and fintech space. With the introduction of Triller and Sony Life into the Group, we are strategically positioning ourselves to drive innovation and deliver unparalleled experiences to a diverse global audience."
He added, "We are also fully committed to attracting top talent to propel AGBA to new heights. By assembling a team of exceptional individuals, we will drive our business forward with unrivaled momentum, harnessing the power of our collective expertise to unlock even greater success."
To view a detailed analysis of our Q1 2024 financial results and future outlook, please visit www.agba.com/ir. For more details, please refer to the company's report on Form 10-K filed with the Securities and Exchange Commission on March 28, 2024.
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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 Lai [email protected]/ [email protected] +852 5529 4500 |
| Social Media Channels: agbagroup LinkedIn | X | Instagram | Facebook | YouTube |
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 proposed acquisition of Triller Corp. and Sony Life Singapore Pte. Ltd.; 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.
