Treasure Global’s ZCITY is Anticipated to be Appointed Operator of Malaysia Pavilion, Tapping into Lucrative China Market
April 11 2024 - 8:30AM
Treasure Global Inc (NASDAQ: TGL) (“Treasure Global” or the
“Company”), an innovative technology solutions provider, is proud
to announce ZCITY is in discussions to become the operator of the
Malaysia Pavilion, catapulting Treasure Global into the heart of
China’s booming consumer market. This prestigious invitation from
the Shanghai Guangxi Chamber of Commerce signifies a landmark
opportunity for Treasure Global to showcase and sell high-quality
Malaysian products across a myriad of online and offline platforms,
including Taobao, Douyin, Kuaishou, and more.
The exponential growth of the livestream commerce
market in China is significant. From less than 120 billion RMB in
2018, the gross merchandise value of eCommerce live streaming
surged to 2.27 trillion RMB in 2021, marking an increase of over 18
times. Recent reports indicated that in 2023, the market had
reached a projected value of 4.9 trillion RMB, showcasing its rapid
expansion and promising potential.1
With the potential to tap into the vast China
market, estimated at over 1.4 billion people, the Malaysia Pavilion
represents a gateway to unprecedented revenue streams for Treasure
Global. Through authentic Malaysian products, the company aims to
foster a sense of trust and reliability in the marketplace. This
strategic partnership aligns seamlessly with Treasure Global’s
mission to revolutionize digital experiences and drive sustainable
growth in emerging markets.
Furthermore, as China emerges as a key player in
global e-commerce, the establishment of the “Malaysia National
Pavilion” at the Shanghai West Suburban International Food Industry
Exhibition and Sales Center positions Treasure Global at the
forefront of cross-border trade between Malaysia and China. This
initiative not only amplifies Treasure Global’s presence in the
region but also underscores its commitment to promoting cultural
exchange and economic cooperation between the two nations.
“The exponential growth of livestream commerce in
China further solidifies our confidence in this strategic
partnership. Through our collaboration with the Shanghai Guangxi
Chamber of Commerce, we are poised to unlock immense value and
drive substantial revenue growth,” said Mr. Sam Teo, Chief
Executive Officer of Treasure Global.
1https://sekkeidigitalgroup.com/live-commerce-in-china/
About Treasure Global Inc:Treasure
Global is a Malaysian solutions provider developing innovative
technology platforms. Treasure Global has developed two technology
solutions: the ZCITY App, a unique digital ecosystem that
transforms and simplifies the e-payment experience for consumers,
while simultaneously allowing them to earn rewards; and TAZTE, a
digital food and beverage management system providing merchants
with a one-stop management and automated solution to digitalize
their businesses. Treasure Global also acts as a master franchiser
in Southeast Asia for popular restaurant chains, while
providing them with the TAZTE solution. As of March 19, 2024, ZCITY
boasts over 2,695,549 registered users.
For more information, please
visit https://treasureglobal.co/.
About Shanghai Guangxi Chamber of
Commerce:The Shanghai Guangxi Chamber of Commerce (the
“Chamber”), established in Shanghai on April 15, 2008, stands as a
distinguished social organization with over 500 member units,
spanning various industries. It operates as a voluntary association
formed by Guangxi-based enterprises, officially registered and
approved by the Shanghai Municipal Civil Affairs Bureau. The
Chamber plays a pivotal role in facilitating collaborations between
Guangxi-based businesses and international partners, actively
contributing to the forefront of China-Malaysia cooperation. Led by
its flagship enterprise, Shanghai Hushang Agricultural Products
Co., Ltd., the Chamber actively engages in promoting bilateral
trade and cultural exchange between China and Malaysia. Through
strategic initiatives and partnerships, it aims to foster economic
development, enhance trade relations, and promote mutual
understanding between Guangxi and international communities.
Forward-Looking Statements:This
press release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements are characterized by future or
conditional verbs such as “may,” “will,” “expect,” “intend,”
“anticipate,” “believe,” “estimate,” and “continue,” or similar
words. It is important to carefully consider statements containing
these words as they discuss future expectations and plans,
projecting future results of operations or financial conditions, or
presenting other forward-looking information. Forward-looking
statements are not guarantees of future performance; they are based
on certain assumptions and are subject to various known and unknown
risks and uncertainties, many of which are beyond the control of
the Company. These risks and uncertainties are detailed in the Risk
Factors section of the Company’s Annual Report on Form 10-K for the
fiscal year ended June 30, 2023, and subsequent filings with the
Securities Exchange Commission (“SEC”). Copies of these documents
are available on the SEC’s website, www.sec.gov. As forward-looking
statements cannot be predicted or quantified, actual results may
differ materially from those expressed or implied by such
statements. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
For further information, please
contact:
U.S. Investor
Contactir_us@treasuregroup.co
Malaysian Investor
Contactsir_my@treasuregroup.co
Media ContactSue Chuah, Chief
Marketing OfficerTreasure Global
Incmediacontact@treasuregroup.co
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