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Treasure Global (NASDAQ: TGL) has secured a US$2 million contract from ELMU Education Group to deploy a Smart Campus Management System. The global smart learning systems market is projected to reach US$103.08 billion by 2026, with a CAGR of 22.5%, while the IoT in Education market is expected to grow from US$11.17 billion in 2024 to US$48.23 billion by 2031 at a CAGR of 20.06%. The system, supporting over 500,000 smart hardware devices, aims to enhance energy data insights, device management, and green energy initiatives, promoting efficiency and sustainability in educational institutions.
Treasure Global announced a strategic collaboration between its subsidiary, ZCITY, and a leading telecommunications company to launch an AI-powered crypto mining service integrated with ZCITY’s new Mobile Virtual Network Operator (MVNO) offerings.
The initiative leverages advanced AI algorithms to optimize crypto mining processes, creating a profitable new revenue stream. The partnership aims to tap into a projected US$135 billion market opportunity by 2030, generating an anticipated US$25 million annual revenue.
With a current user base of 2.69 million and 20,000 active users, Treasure Global aims to grow to 100,000 active users within 12 months, increasing monthly revenue fivefold to US$2 million. This move strengthens Treasure Global’s commitment to blockchain technology and positions them for substantial growth in the telco and crypto markets.
Treasure Global (NASDAQ: TGL) reported its third-quarter fiscal year 2024 results, highlighting a 47% year-over-year increase in gross profit to $0.22 million. The company secured a $2 million marketing contract for Korean beauty products and emerged as the exclusive partner for an AI Blockchain Wallet on Telegram.
TGL's revenue for the quarter stood at $1.6 million, a decrease from $6.7 million in Q2 2024, reflecting a strategic shift towards higher profit margin channels. Net loss decreased by 41% to $1.7 million.
Key achievements include compliance with Nasdaq’s minimum bid price, a silver trophy for Best eCommerce Solution at the 2023 Asia eCommerce Awards, and a significant partnership with AIO Synergy. TGL also launched a Live Commerce Solution on Meta Platforms and expanded its gaming market presence with AI-enhanced mini-games.
The company remains optimistic about future growth and strategic initiatives aimed at capitalizing on the Southeast Asian market.
Treasure Global Inc (NASDAQ: TGL) has emerged as the exclusive partner for an AI Blockchain Wallet on Telegram, marking a significant development in the blockchain industry. By securing the first right of refusal, the company solidifies its competitive advantage and opens up avenues for revenue expansion. This strategic collaboration underscores Treasure Global’s commitment to spearheading innovation and embracing emerging technologies, positioning it for robust growth and revenue generation.
Treasure Global Inc (NASDAQ: TGL) has announced its 2024 Annual General Meeting of Shareholders to be held on June 11, 2024, conducted virtually. The board of directors supports the proposed resolutions and urges shareholders to vote in favor. Shareholders as of the Record Date on April 29, 2024, are entitled to participate by voting online, by phone, or through mailing a proxy card.
Treasure Global's subsidiary, ZCITY, secured a US$2 million marketing contract to promote Korean beauty products in Malaysia and Southeast Asia using its AI Marketing Engine. The contract signifies a significant milestone for Treasure Global as it expands its presence in the beauty industry, leveraging advanced artificial intelligence technology to drive sales growth. The Malaysian beauty market presents lucrative opportunities, with Korean beauty products gaining traction.
Treasure Global Inc (NASDAQ: TGL) will report its financial results for the third quarter of fiscal year 2024 on May 14, 2024. The conference call and webcast will feature remarks by CEO Sam Teo on May 15, 2024.
