Vietnam media giant YeaH1 records 4.8-fold increase in 2024 profit
YeaH1, a leading media and entertainment company in Vietnam, reported a profit after tax of VND127 billion ($5.06 million) in 2024, 4.8 times higher than 2023, thanks to its popular entertainment events.

YeaH1 is the organizer of two popular TV shows in Vietnam: “Anh Trai Vuot Ngan Chong Gai” (Brother Overcomes Thousands of Thorns) and “Chi Dep Dap Gio Re Song” (Beautiful Sister Rides the Wind and Waves). Photo by The Investor/Nghi Dien.
YeaH1 JSC, listed on the Ho Chi Minh Stock Exchange (HoSE) as YEG, saw its revenue in Q4/2024 doubling the same period of 2023, reaching VND378 billion ($15 million).
However, the company's gross profit margin decreased from 37% to 8.7%. according to its Q4 consolidated financial statement.
Its financial revenue increased sharply from VND11.8 billion ($470,776) to VND78 billion ($3.1 million) thanks to the divestment of subsidiaries. As of December 31, 2024, the group had completed the transfer of shares at Ana Entertainment JSC and Care Group JSC.
Interest expenses and selling expenses increased sharply, but management expenses decreased slightly.
Other activities saw losses reduced from VND16.1 billion ($642,330) to VND3.2 billion ($127,591). On the other hand, the company recorded deferred income tax income of VND19.1 billion ($761,563).
YeaH1 reported a profit after tax of VND71.7 billion ($2.85 million) in the quarter, nearly seven times higher than the same period of 2023 and a breakthrough in the past three years.
The company explained that the sharp increase in Q4 profit was mainly due to the effective performance in its business segments in the last period of 2024, of which the largest contribution came from multi-platform advertising activities, sponsored brands, and popular entertainment events.
In the second half of the year, YeaH1 organized two popular TV shows, “Anh Trai Vuot Ngan Chong Gai” (Brother Overcomes Thousands of Thorns) and “Chi Dep Dap Gio Re Song” (Beautiful Sister Rides the Wind and Waves).
In particular, the concert “Anh Trai Vuot Ngan Chong Gai” in Ho Chi Minh City and Hanoi created a big buzz, receiving sponsorships from major brands such as Techcombank, VinFast, Bupnon Tea365, and An Cuong.
In the whole 2024, YeaH1 reached a revenue milestone of VND1,007 billion ($40.15 million), 2.4 times higher than 2023. This exceeded the revenue target in the unfavorable scenario (VND800 billion or $31.9 million) and was quite close to the favorable scenario (VND1,100 billion or $43.85 million).
Its profit after tax was VND127 billion ($5.06 million), 4.8 times higher than 2023 and exceeding the year's plan in the favorable scenario (VND105 billion or $4.18 million).
Despite the success of two major programs "Anh Trai" and "Chi Dep", YeaH1 announced that it will not produce them in 2025.
Instead, the company will focus on two new reality TV projects, "Show It All" and "Haha Farmer". "Show It All" is a program to train and develop young artists, while "Haha Farmer" is a reality show about rural life, aiming to promote Vietnamese products.
To implement these projects, YeaH1 has signed cooperation agreements with three strategic partners: MangoTV as a copyright provider, 153/Joombas Music Group led by music producer Hyuk Shin in charge of music training and development, and Sony Music Group in charge of music distribution and publishing.
According to the company's forecast, the investment costs of "Show It All" and "Haha Farmer" are much lower than that of the program “Chi Dep Dap Gio Re Song” (Beautiful Sister Rides the Wind and Waves).
Debt increases sharply
At the end of 2024, YeaH1 had VND2,492 billion ($99.4 million) in net revenue, up 34% compared to the beginning of the year. Of this, the group's cash and cash equivalents jumped from VND8.4 billion ($334,995) to VND132 billion ($5.26 million); receivables also increased from VND845 billion ($33.69 million) to VND1,290 billion ($51.44 million) and accounted for 51.7% of total assets.
YeaH1 sharply reduced investments in affiliated companies from VND349 billion ($13.91 million) to VND104 billion ($4.14 million), but increased its commercial advantage from VND31 billion ($1.23 million) to VND289 billion ($11.52 million).
In terms of capital, the company significantly increased short-term debt from VND171 billion ($6.8 million) to VND527 billion ($21 million). VietinBank is the largest creditor when lending the group VND243 billion ($9.69 million), at an interest rate of 7.2-8.2%.
The company is implementing a plan to offer 54.8 million shares to existing shareholders, equivalent to 40% of the outstanding shares, with shareholders owning 100 shares able to buy 40 additional shares.
The company's charter capital is expected to increase from VND1,370 billion ($54.63 million) to more than VND1,900 billion ($75.8 million).
At a price of VND10,000 ($0.4) per share, the expected revenue will be VND548 billion ($21.87 million). The company said it will use VND211 billion ($8.4 million) to increase capital for 1Production Company Limited.
1Production is the direct producer of the programs Chi Dep Dap Gio Re Song 2023 and Anh Trai Vuot Nganh Chong Gai 2024.
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