Media giant YeaH1 earns big from divestments in H1
YeaH1 Group, a leading media and entertainment company in Vietnam, reported a net profit of VND29 billion ($1.17 million) in the first half of 2024, a 2.9-fold rise year-on-year.
The big profit was attributed to a significant year-on-year jump in revenue from financial activities, from VND21 billion to VND77 billion ($3.12 million), while costs levelled off, according to the company's financial statements.

YeaH1 Group reports huge profit in H1/2024 thanks to the selling of subsidiaries. Photo courtesy of the company.
YeaH1 Group explained that it recognized nearly VND60 billion ($2.43 million) in profit from the liquidation of investments in subsidiaries.
Specifically, YeaH1 divested a 51% stake in STV Cable JSC for VND40 billion, reaping a VND23.2 billion ($939,800) gain in financial revenue.
It also sold a 67% stake in YES for a VND4.5 billion gain; 95% of YAG Entertainment for VND30.9 billion; and 70% of AppNews Vietnam for VND925 million.
YeaH1 acquired STV in the latter half of 2022. STV owns two cable TV channels: StyleTV and InfoTV. At that time, YeaH1 said that the acquisition aimed to expand its television business and enhance its capacity for producing major TV programs.
YAG Entertainment, established in 2018, operates in the advertising sector. In late 2022, YeaH1 had considered fully divesting from this company.
Additionally, YeaH1 plans to sell its entire stakes in subsidiaries including Ana Entertainment JSC, Care Group JSC, and Giga1 Commerce and Technology JSC in Q3 or Q4 this year.
Conversely, the group will spend approximately VND390 billion ($15.8 million) increasing its stakes in Netlink Vietnam Communication Technology JSC and Yeah1 Edigital JSC, and injecting additional capital into 1Production LLC.
According to the financial statements, YeaH1's H1 net revenue doubled to VND284 billion ($11.5 million), primarily driven by its advertising and media consulting segment, which contributed VND239 billion.
At the end of Q2, the group had total assets of VND1,996 billion ($80.86 million), including only VND7.2 billion in cash and cash equivalents. Nearly 70% of the total assets were receivables amounting to VND1,385 billion ($56.1 million), including VND372 billion lent at annual interest rates of 8-11%. Short-term receivables considered difficult to collect totaled VND142 billion, with nearly 60% reserved for potential bad debts.
In August, YeaH1 announced a board decision to borrow VND227 billion ($9.19 million) from individuals to supplement its working capital, pay off debts, and invest in other companies. The loans have a one-year term with an interest rate of 8% per annum and 12% for overdue payments.
At the firm’s 2024 AGM on May 6, YeaH1 Group, listed on the Ho Chi Minh Stock Exchange (HoSE) as YEG, proposed two business plans for 2024 aligned with different market scenarios.
In an optimistic market setting, it aims for VND1.1 trillion ($43.3 million) in revenue, up 167% year-over-year, and VND105 billion ($4.14 million) in net profit, up 296%.
In case of less favorable market conditions, revenue is projected at VND800 billion ($31.52 million), a 94% year-over-year increase, with a profit of VND65 billion ($2.56 million), up 145%.
In the stock market, YEG closed Monday at VND9,200 ($0.36) apiece.
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