Yeah1 Group Corporation (stock code: YEG) - the producer of the program "Anh trai vu ngan cong gai" has just sent a report to the Ho Chi Minh City Stock Exchange (HOSE) about the dissolution of Ting Vietnam Technology Corporation - an affiliated company of Yeah1.

Ting Vietnam Technology Company was established in June 2020 and is headquartered in Hanoi.

Regarding Yeah1, this group recently announced that it borrowed capital from a number of individuals in the amount of more than 189 billion VND to supplement capital for production and business activities, including investment/purchase of shares, capital contributions in other companies or payment of debts.

Specifically, Yeah1 borrowed more than VND54.7 billion from Ms. Nguyen Hai Tuong Vi, nearly VND55.6 billion from Mr. Vo Xuan Huy and more than VND79 billion from Ms. Vu Thi Tuyet Van. The loan term is 1 year with an interest rate of 8%/year, in case of overdue, the interest rate will be 12%/year.

According to the financial report for the second quarter of 2024, the group recorded net revenue of VND 207.1 billion, 2.5 times higher than the same period last year and the highest level since the first quarter of 2022. Financial revenue increased more than 2 times, to nearly VND 40 billion.

Thanks to that, after deducting expenses, Yeah1's after-tax profit was VND 8.5 billion, an increase of 66% over the same period in 2023.

Accumulated in the first 6 months of 2024, Yeah1 recorded nearly 281 billion VND in revenue, nearly double compared to the same period and after-tax profit of more than 20.5 billion VND, up 124.5% compared to the first 6 months of last year, completing 30% of the annual profit target.

Explaining the strong increase in results, Yeah1 said it was thanks to revenue from advertising and media consulting activities growing by 136%.

As of June 30, Yeah1's total assets were at VND 1,057 billion, an increase of more than VND 100 billion compared to the end of 2023, of which short-term receivables accounted for 95% (equivalent to VND 1,006 billion) while the cash and cash equivalents portfolio was only worth about VND 7 billion.

Liabilities by the end of the second quarter of 2024 were VND 606.8 billion, an increase of nearly VND 130 billion compared to the beginning of the year, of which total short-term and long-term loans accounted for nearly 40%, equivalent to VND 240 billion.

On the stock market, Yeah1 shares caused a shock when they surpassed the 320,000 VND/share mark just a short time after being listed on the HOSE.

Currently, this stock is at 9,000 VND/share, down more than 25% compared to the beginning of the year.