HONG
KONG, May 1, 2023 /PRNewswire/ -- AGBA Group Holding Limited (Nasdaq: "AGBA"), a leading one-stop financial supermarket in
Hong Kong makes certain clarifications to their
projected revenue, franchise strength, and engagement with
investors and analysts.
Revenue:
As previously stated in the disclosure
of "AGBA Group Financial Projections 2023-2027 and Valuation
Presentation" released on April 14,
2023, AGBA Group expected to achieve approximately
US$160 million in revenue for 2023,
which is equivalent to a 533% growth from the full year revenue in
2022 as reported in the Form 10-K for the fiscal year ended
December 31, 2022. During the three
years under COVID-19 impact from 2020 to 2022, the group maintained
a solid revenue track record between US$69m to US$88m
per annum. AGBA expects that the current China's border reopening will spur a new
wave of revenue growth in 2023 and 2024. Further disclosures
and explanations can be found in the "AGBA Group Financial
Projections 2023-2027 and Valuation Presentation" at
www.agba.com/ir.
Franchise Strength:
AGBA Group is situated in AGBA Tower in Wan Chai, a prominent business district in
Hong Kong, serving as the headquarters of its core financial services business.
With over 30 years of track record and a workforce of 2,600+ colleagues, the Group specializes in selling life insurance
policies and mutual funds, making AGBA one of the largest and most
established companies in the region.
For more information, please visit our website:
www.agba.com/ir.
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 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.
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
Social Media Channels:
agbagroup
LinkedIn | Twitter | Instagram | Facebook | YouTube
View original
content:https://www.prnewswire.com/news-releases/agba-group-holding-limited-nasdaq-agba-expects-high-growth-to-exceed-us160m-revenue-with-its-market-leading-franchise-301811924.html
SOURCE AGBA Group Holding Ltd