Fintech
AGBA consolidates market leadership with expansion plans and focus on technological/fintech innovation
AGBA Group Holding Ltd
LOS ANGELES, May 15, 2024 (GLOBE NEWSWIRE) — NASDAQ-listed AGBA Group Holding Limited (“AGBA” or the “Company” or the “Group”), Hong Kong’s leading one-stop financial supermarket, has released its financial data results for the first quarter of 2024.
AGBA is excited to unveil its expansion plans, including the planned acquisition of Triller in the United States and the completion of the acquisition of Sony Life in Singapore. The Company is in the acquisition process with Triller and looks forward to a successful completion. Once completed, AGBA headquarters will be relocated to Los Angeles.
The new company will strategically focus on four key verticals: pioneering an industry-leading, global, AI-powered social video platform; generate engaging content from influencers, artists and athletes for a diverse global audience; creating a technology-based wealth management and financial services ecosystem; and make progressive investments in the dynamic fintech sector.
AGBA is actively pivoting its business to become a world-class technology/fintech-focused holding company, positioning itself to drive innovation and excellence in the sector. This constant commitment to delivering results has consolidated AGBA’s market leadership, reaffirming its reputation as the leading financial supermarket.
Mr Wing-Fai Ng, Group Chairman of AGBA Group Holding Limited said: “AGBA’s expansion plans represent an exciting milestone in our journey to becoming a global leader in technology and fintech. With the introduction of Triller and Sony Life into the Group, we are strategically positioning ourselves to drive innovation and deliver unprecedented experiences to a diverse global audience.”
He added: “We are also fully committed to attracting the best talent to push AGBA to new heights. By bringing together a team of exceptional people, we will drive our business forward with unmatched momentum, leveraging the power of our collective experience to achieve even greater success.”
To view a detailed analysis of our first quarter 2024 financial results and future outlook, please visit www.agba.com/ir. For further 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:
Founded in 1993, AGBA Group Holding Limited (NASDAQ: “AGBA”) is a leading one-stop financial supermarket based in Hong Kong offering the widest range of financial services and healthcare products in the Guangdong-Hong Kong Greater Bay Area -Macau (GBA) through a technology-driven ecosystem, enabling customers to unlock 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.
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For more information about AGBA, visit www.agba.com
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Safe harbor declaration
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements other than statements of historical fact. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not refer solely to historical issues, is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause 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 objectives and strategies of the Company; the future development of the Company’s business; demand and acceptance of products and services; 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 future business plans or objectives, performance and potential opportunities and competitors, revenues, products, pricing, operating expenses, market trends, liquidity, cash flows and use of liquidity, capital expenditures and our abilities 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 international markets that the Company intends to serve and assumptions underlying or related to any of the foregoing risks and other risks contained in the Company’s reports filed with the SEC, the duration and severity of recent coronavirus outbreak, including its impacts on our business and operations. For these reasons, among others, investors are cautioned not to place undue reliance on any forward-looking statements contained in this press release. Additional factors are discussed in the Company’s filings with the SEC, available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances occurring after the date hereof.
