NEW YORK, November 26, 2024 - PRISM MediaWire - AB International Group Corp. (OTC: ABQQ) (“ABQQ”), an intellectual property and movie investment firm, reported record financial results for FY2024, including a 125% revenue increase to $3.3 million and a net income of $0.54 million. This success is attributed to its movie licensing and NFT ventures. The company projects continued growth in FY2025, with a forecasted 150% revenue increase, and has announced a $5 million share repurchase program. ABQQ's diverse holdings include a movie theater chain, an online streaming platform, and the NFT MMM marketplace. The CEO highlighted the company's strong market position and innovative product pipeline.
AB Cinemas
Key Highlights:
· Record Revenue and Profitability: ABQQ achieved record revenue of $3.3 million, a 125% increase year-over-year. The company also reached operational profitability with a net income of $542,331.
· Growth Drivers: The growth was primarily driven by the success of their Movie License and NFT MMM IP License businesses.
· Positive Outlook for FY 2025: The company projects revenue growth of approximately 150% and EPS in the range of $0.001 to $0.002 for FY 2025.
· Share Repurchase Plan: ABQQ announced an increase in their share repurchase goal, aiming to repurchase $5 million worth of shares by the end of 2025.
“ABQQ achieved record results during the fiscal year 2024, as we delivered revenue growth of 125% and reached profit net income of $542,331, reflecting a continued dedication to maintain exceptional levels of profitability as our business scale. Movie License and NFT MMM IP License built up two of the most admired and well-positioned businesses in the marketplace, each with a robust innovation product pipeline designed to win with global consumers. Looking forward, our talented teams are highly motivated to continue driving towards the long-term opportunities of these iconic businesses.”
Chiyuan Deng, President and CEO of ABQQ
About AB International Group Corporation:
ABQQ is an intellectual property (IP) and movie investment and licensing firm. Their key business areas include:
· Acquisition and distribution of movies.
· NFT MMM: Ownership of the IP for a unique NFT movie and music marketplace.
· AB Cinemas: Operation of a physical movie theater in New York, with plans for nationwide expansion.
· ABQQ.TV: A movie and TV show online streaming platform utilizing a hybrid subscription and advertising revenue model.
For additional information, visit www.abqqs.com, www.abcinemasny.com, https://stareastnet.io/ and www.ABQQ.tv.
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Source: AB International Group Corporation