Core Viewpoint - JOYY is seeking new growth engines amid a peak in global entertainment live streaming industry and declining growth rates [1][2] Financial Performance - In Q1 2025, JOYY reported revenue of $494 million, a decrease of 12.4% from $565 million in Q1 2024, primarily due to a sharp decline in live streaming revenue [1] - Core live streaming revenue was $371 million, down over 20% year-on-year [1][3] - The sale of YY Live generated a confirmed gain of approximately $1.876 billion, leading to a net profit of $1.92 billion attributable to shareholders [1] - Non-GAAP operating profit was $31 million, an increase of 24.9% year-on-year [1] Business Segments - JOYY's advertising business has shown strong performance, becoming a key driver for non-live business growth, with non-live revenue increasing by 25.3% to $123 million [2][6] - The non-live revenue from BIGO Ads grew by 27.3% to $80.26 million, accounting for over 60% of total non-live revenue [6] - The number of paying users in the BIGO segment decreased by 13.2%, with average revenue per paying user (ARPPU) declining by approximately 5.8% to $221.6 [2][3] Market Trends - The global live streaming market has seen a decline in user conversion rates since 2021, with high content investment and subsidy costs making profitability more challenging [3] - The industry is experiencing a shift as platforms seek new directions, with JOYY focusing on overseas markets and optimizing its revenue-sharing mechanisms [3][4] - Despite the decline in live streaming revenue, JOYY's live streaming income in developed markets increased by 2.8 percentage points to 47.4% [4] Strategic Focus - JOYY is shifting its strategic focus towards "tooling + advertising platform," moving towards B2B services [7] - The company aims to prioritize user growth in developed countries and the Middle East, responding to regional differences in online entertainment spending [3][7] - The market remains cautious about JOYY's transformation path, as balancing profitability and investment amid ongoing live streaming business fatigue is a key challenge for the upcoming quarters [7]

Company Overview - YY Group Holding Limited is a global leader in on-demand workforce solutions and integrated facility management (IFM) [1][11] - The company is headquartered in Singapore and operates across Asia and beyond, focusing on flexible, scalable workforce solutions [11][12] Acquisition Details - YY Group plans to establish a significant presence in Thailand through the acquisition of YY Circle Thailand, with the transaction expected to close on June 2, 2025 [2] - This acquisition is a pivotal step in YY Group's Southeast Asia expansion strategy, targeting Thailand's casual labor market valued at THB170 billion (approximately US$5 billion) annually [2][5] Market Opportunity - The casual labor market in Thailand is projected to encompass over 40% of the workforce by 2027, presenting a transformative opportunity for YY Group [3] - The company anticipates an annual profit of THB76.9 million (approximately US$2.32 million) by 2029 from this market [5] Leadership and Strategy - Jirapat Haetanurak will assume the role of Country Director for YY Circle Thailand, maintaining a 10% equity stake in the company, ensuring continuity and localized expertise [4] - The acquisition reflects YY Group's commitment to creating innovative, localized solutions that drive growth and efficiency in new markets [8] Service Offering - YY Circle, the company's flagship platform, aims to connect businesses with on-demand talent, providing essential tools and resources for stability and success in the casual labor landscape [6] - The platform is designed to address workforce shortages in key industries such as hospitality, retail, and logistics, enhancing operational efficiency [6][7]

Core Insights - YY Group Holding Limited announces significant expansion of its flagship on-demand job matching platform, YY Circle, to meet global demand for innovative workforce solutions [1] - The company is making notable progress in Europe, the Middle East, North Africa, and Asia Pacific, showcasing its robust performance and growing market influence [2][4] Expansion in Regions - YY Circle is accelerating growth in the Middle East and North Africa, with a focus on expanding its presence in these regions [2] - In Asia, YY Circle has established a comprehensive presence in countries such as Singapore, Malaysia, Australia, Vietnam, Cambodia, Hong Kong, and Korea [2] - The full acquisition of YY Circle Thailand is expected to streamline operations and boost growth in Southeast Asia [3] Strategic Vision - The CEO of YY Group emphasizes the company's commitment to delivering cutting-edge solutions tailored to diverse client needs, reinforcing its presence across dynamic regions [4] - YY Group's strategic investments in technology, sustainability, and regional expertise aim to redefine industry standards while addressing local and global challenges [4] Upcoming Developments - YY Circle UK is gaining momentum and solidifying its position as a trusted partner for businesses in the region [6] - YY Circle Netherlands is set to go live by the end of May 2025, while YY Circle Germany is expected to launch within 6 to 8 weeks [6] - YY Circle UAE is experiencing significant market share expansion, and YY Circle Egypt is under development, set to go live by July 2025 [6] Company Overview - YY Group Holding Limited is a technology-enabled platform providing flexible, scalable workforce solutions and integrated facility management services across Asia and beyond [8] - The company operates through two core verticals: on-demand staffing and integrated facility management, supporting industries such as hospitality, logistics, retail, and healthcare [8] - YY Group leverages proprietary digital platforms and IoT-driven systems to help clients meet fluctuating labor demands [9]

Core Points - The Guangzhou Intellectual Property Court released the 2024 Intellectual Property Judicial Protection Status White Paper, highlighting a case involving "YY Live" trademark infringement and unfair competition [1] - The court ruled that the companies involved in the development and operation of "Yaya Live" and "Yaya Live" software engaged in infringing activities, resulting in a compensation order of 3 million yuan to the rights holders of "YY Live" [1] Group 1 - The case involved Guangzhou Pin Company and five related companies, which launched "Yaya Live" and "Yaya Live" software on various platforms while making misleading claims [1] - The rights holders, Guangzhou Fang Company and Guangzhou Jin Company, claimed trademark infringement and unfair competition, seeking punitive damages of 3 million yuan for economic losses [1] Group 2 - The first-instance court found the actions of Pin Company and others constituted infringement and ordered them to cease their activities, fully supporting the claim for 3 million yuan in economic losses [2] - The second-instance court upheld the first-instance ruling but corrected the legal application regarding the deduction of gambling funds from the infringement income, emphasizing the independence of civil compensation calculations from related criminal case proceeds [2]

Core Insights - Guangzhou Jinhong YY Live is embracing new challenges and opportunities in the live streaming industry following Baidu's acquisition of YY on February 25, which injects strong momentum into YY Live's future development [1] - The 2025 YY Live Ecosystem Conference held from March 31 to April 1 marked the first major event after the integration into Baidu, highlighting YY's significant role within Baidu's ecosystem [1][5] Product and Technology - AI is a strategic focus for Baidu, and Guangzhou Jinhong YY Live is actively promoting its application in live streaming, having launched the digital human "Ling'er" and integrated "YYDS" with DeepSeek, achieving significant technological progress [3] - Future plans include the rollout of more AI products and features to enhance user experience, increase platform engagement, and boost monetization [3] Content Collaboration - YY Live will engage in broader resource sharing with various companies and departments within the Baidu ecosystem, exemplified by the establishment of the short drama brand "Mai Xu," which is a key advancement of the "Hundred Drama Plan" initiated in December [3] - The initiative aims to create a unique short drama ecosystem in the live streaming industry, providing users with high-quality content [3] Community and Monetization - YY Live has revised its guild policies to support emerging streamers under Baidu's traffic boost, optimizing renewal policies for streamers and launching an MCN alliance to facilitate diverse monetization opportunities [3] - Since launching its live streaming services in 2011, YY has distributed over 40 billion to streamers and guilds, with plans to continue collaborating closely with ecosystem partners to build a healthier and more diverse live streaming ecosystem [3] Future Outlook - The conference established a solid foundation for the future development of Guangzhou Jinhong YY Live, leveraging Baidu's resources and technological support to explore new areas in the live streaming industry and enhance user experiences [5]

Company Overview - YY Group Holding Limited (NASDAQ: YYGH) is a leading provider of innovative on-demand workforce solutions and integrated facility management (IFM) [1][9] - The company operates through two core verticals: on-demand staffing and IFM, serving industries such as hospitality, logistics, retail, and healthcare [9][10] Acquisition Details - YY Group has officially acquired YY Circle Hong Kong, transitioning it to a majority-owned subsidiary while retaining local expertise with Anthony Ip as Country Director [1][2] - The acquisition aims to strengthen YY Group's presence in the Hong Kong market, which is valued at approximately US$16 billion, highlighting significant potential for innovative staffing solutions [3][5] Market Insights - The Hong Kong casual labour market has around 700,000 gig workers, indicating a strong demand for flexible staffing solutions [3][4] - YY Circle addresses workforce challenges by connecting casual labourers with opportunities and providing essential resources, ensuring a stable environment for workers [4][5] Financial Projections - YY Group projects a financial outcome of HK$15.03 million (approximately US$1.92 million) for the first fiscal year following the acquisition, reflecting the market's immense potential [5][6] Strategic Goals - The acquisition is part of YY Group's broader global growth strategy, aiming to replicate its success in additional markets regionally and globally [6][10] - The company focuses on enhancing operational efficiency for local industries while addressing workforce shortages, particularly in the accommodation and food services sectors [5][6]

Exhibit 99.1 For Immediate Release YY Group Holding Limited's Revenue Hits US$41M in 2024, Driven by Demand and Market Expansion Singapore, April 8, 2025 — YY Group Holding Limited (NASDAQ: YYGH) ("YY Group", "YYGH", or the "Company"), a leading provider of innovative on-demand workforce solutions and integrated facility management (IFM), today reported promising financial results for the full year ended December 31, 2024, underscoring consistent growth and meeting milestones across key business segments. I ...

Core Insights - YY Group Holding Limited reported strong financial results for the year ended December 31, 2024, highlighting consistent growth and achievement of key milestones across its business segments [1][2]. Financial Performance - Revenue increased to US$41.1 million, driven by the expansion of on-demand workforce solutions and growth in integrated facility management [4]. - Gross profit rose approximately 44% year-on-year to US$5.26 million, with stable gross margins [4]. - The company maintained a positive working capital position of US$5.5 million, with cash balances of US$836,907 and total assets of US$15.4 million, up from US$10.7 million the previous year [3]. Strategic Initiatives - In April 2024, YY Group completed its initial public offering, raising gross proceeds of US$4.5 million to support geographic expansion and technology development [4]. - The company launched YY Smart Tech, a subsidiary focused on innovation in IoT, AI, and software solutions, enhancing digital transformation across service lines [10]. Market Outlook - For 2025, YY Group aims to drive sustainable growth by expanding technology capabilities and increasing market share in Southeast Asia [8]. - The company is committed to deepening technology leadership and delivering long-term value for shareholders [9]. Operational Focus - YY Group operates through two core verticals: on-demand staffing and integrated facility management, serving industries such as hospitality, logistics, retail, and healthcare [11]. - The company has strengthened its regional position through new contract wins in various sectors, particularly in Southeast Asia, Europe, and the Middle East [10].

Construction Demand and Industry Trends - The total construction demand in Singapore for 2023 is projected to be between S$27 billion and S$32 billion, with the public sector expected to account for approximately 60% of this demand[444]. - The Building and Construction Authority (BCA) anticipates that total construction demand will range between S$25 billion and S$32 billion annually from 2024 to 2027, driven primarily by public sector projects[444]. - The cleaning services market is expected to grow due to increasing awareness of hygiene and the government's initiatives to improve cleaning standards[441]. Technology and Innovation in Services - The Innovating and Curating Better Automation and Technologies for Environmental Services (INCUBATE) Partnership Programme aims to transform the environmental services industry by promoting technology adoption and improving productivity[445]. - The adoption of outcome-based contracting (OBC) in cleaning services is expected to enhance service quality and drive technology adoption among service providers[439]. Employment and Talent Challenges - The number of freelancers in Singapore increased from 211,000 in 2019 to approximately 228,200 in 2020, indicating a growing pool of potential users for job-seeking platforms[455]. - 78% of employers in Singapore face challenges in filling job roles due to a lack of talent with relevant skill sets, highlighting the demand for staffing services[457]. - 75% of employers globally report difficulty in finding the right talent, indicating a significant talent shortage across various sectors[456]. Regulatory and Compliance Issues - The Environmental Public Health Amendment Bill proposes a revised cleaning business license framework, introducing three classes of licenses to enhance public health standards in the cleaning sector[450]. - As of December 31, 2024, the allowance for expected credit losses against trade receivables amounted to $62,425, compared to nil in 2023[478]. - The company identified material weaknesses in internal control over financial reporting, including a lack of qualified accounting staff and inadequate IT policies[481]. - The company is in the process of hiring additional finance and accounting staff to strengthen internal controls and compliance with IFRS and SEC requirements[482]. - The company has engaged external advisors to assist with the remediation of internal controls and financial accounting[483]. - The company qualifies as an "emerging growth company" with net revenues of less than $1.235 billion, allowing it to take advantage of reduced reporting requirements[485].

Group 1 - The 2025 YY Live Ecosystem Conference was held in Guangzhou, marking the first conference since YY's integration into Baidu, where strategic priorities and development directions were announced [2][3] - YY officially became part of Baidu Group on February 25, 2023, after a prolonged acquisition process, and will enhance collaboration within Baidu's mobile ecosystem [3] - YY's CEO emphasized the commitment to becoming an essential part of Baidu's mobile ecosystem, focusing on product technology and content development [3][5] Group 2 - AI is a strategic focus for Baidu, and YY is tasked with implementing AI in live streaming applications, having already launched digital human "Ling'er" and integrated "YYDS" [5] - YY announced the establishment of a short drama brand "Mai Xu," contributing to the "Hundred Drama Plan" initiated with other partners, aiming to create a unique short drama ecosystem [5][6] - New policies were introduced to support guilds and streamers, focusing on building a healthy and sustainable live streaming ecosystem [5][6] Group 3 - YY Live will support emerging streamers while maintaining resources for mid-tier streamers, launching new content IP "YY Star Live Camp - Tomorrow's Star" to facilitate growth [6] - The renewal rate for top streamers exceeded 80% in 2024, and YY plans to optimize renewal policies to ensure healthy contracts and combat malicious behaviors [6][7] - YY has distributed over 40 billion to streamers and guilds since its launch in 2011, emphasizing continued collaboration with ecosystem partners to foster a healthy live streaming environment [7]