YY Group Holding Limited’s Revenue Hits US$41M in 2024, Driven by Demand and Market Expansion

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$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].