Yeah1 (YEG) is about to sell 6 subsidiaries

Yeah1 Group Corporation (Code: YEG) has just issued a resolution of the Board of Directors approving the policy of transferring the company's shares in 6 subsidiaries.

Of which, Yeah1 plans to sell 1.56 million shares at YAG Entertainment JSC, equivalent to 85% of charter capital. At the same time, Yeah1 also transferred 36 million shares, equivalent to 99.99% of charter capital at Gigal Trade Technology JSC, a company operating in the retail sector.

Yeah1 (YEG) is preparing to sell 6 subsidiaries in the ecosystem (Photo TL)

Yeah1 also plans to sell shares in four other subsidiaries, including: 40 million shares, equivalent to 99.97% of shares at Care Group Corporation; transfer 2.97 million shares, equivalent to 99% of capital of ANA Entertainment Corporation; divest all 0.73 million shares, equivalent to 73% of capital of Dai Su Tre Film Investment and Production Corporation; and 1.33 million shares, equivalent to 70% of capital of Appnews Vietnam Corporation.

It is expected that if the divestment is successful, Yeah1 can collect an amount equivalent to 826 billion VND. The divestment is expected to take place this June. When the transfer is completed, the above companies will no longer be subsidiaries of Yeah1.

Regarding business activities, in the first quarter of 2024, Yeah1 recorded revenue of nearly 74 billion VND, an increase of 19% over the same period last year. The copyright exploitation segment brought in nearly 27 billion VND with a gross profit margin of up to 82%.

Financial revenue increased sharply, accounting for 36 billion VND, 6.3 times higher than the same period. This is the profit recorded due to the transfer of investments. As a result, Yeah1 brought in 12 billion VND in profit after tax, nearly 3 times higher than the same period.

Source: https://www.congluan.vn/yeah1-yeg-sap-ban-6-cong-ty-con-post300446.html