Treasure Global Inc.

Good day, everyone, and welcome to Treasure Global Inc's second quarter of fiscal year 2024 conference call. At this time, participants are in a listen-only mode. This conference call is being recorded. A replay of today's call will be available on the investor relations section of TGL's website and will remain posted there for the next 30 days. I will now hand the call over to Erica Kaye, Vice President, Investor Relations, at KCSA for instructions and the reading of the Safe Harbor Statement. Please go ahead.

Thank you, Operator. Good morning, everyone, and welcome to Treasure Global's second quarter fiscal 2024 results conference call. With us on today's call are Sam Teoh, Chief Executive Officer, Michael Chan, Chief Financial Officer, and Jeremy Roberts, Independent Director. Before we begin, I would like to remind you that today's call contains certain forward-looking statements from Treasure Global's management made within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities and Exchange Act of 1934 as amended concerning future events. Words such as may, should, project, expect, intend, plan, believe, anticipate, hope, estimate, and variations of such words and similar expressions are intended to identify forward-looking statements. These statements are subject to numerous conditions, many of which are beyond the control of the company, including those set forth in the risk factors section of the company's Form 10-K for the year ended June 30, 2023, and subsequent filings filed with the SEC. Copies of this document are available on the SEC's website at www.sec.gov. Actual results may differ materially from those expressed or implied by such forward-looking statements. The company undertakes no obligation to update these statements for revisions or changes after the date of this call, except as required by law. Now, it is my pleasure to introduce Sam Teo, CEO of TGL. Sam, please go ahead.

Thanks Erika and thank you everyone for joining us today on our second quarter of fiscal 2024 earnings conference call for the year ended 31st December 2023. I am pleased to be with you today to update you on the progress that we are making toward Thrasher Global business strategy and to provide you with our results for the quarter. Before I reveal some of the exciting innovations, that we announced during the quarter. I want to update you on some steps that we took that we believe will help Treasure Grover to achieve our growth and enhance shareholder value. This action, which has centered on our ability to leverage new cutting-edge artificial intelligence capability, further our strategy to be a leading innovator in our region, create new opportunities for profitable growth. We believe these actions have made us a stronger company and will lead to a new state of growth for Thresher Global. Supporting our operation growth in the second quarter, we announced a public offering raising USD 4 million, less fee and expenses. We used a portion of the fund to retire the remaining USD 2.1 million of convertible notes. This action helps us to fortify our financial position and to optimize our capital structure, freeing up funds so that we can continue to develop new innovative products and services for customers, and shift our focus to higher-margin businesses. Much of Treasure's global success is built on our ability to innovate. Throughout the quarter, we announced several initiatives that utilize artificial intelligence to enhance our product offering and to engage more meaningful with our customer. Through our use of AI, we have been able to anticipate shift in consumer demand, which has lead to increases in market share for our businesses. This effort has allowed us to identify new business opportunity and allow us to focus our growth on our higher margin product. On our last call, We announced that we have developed an AI robot through the acquisition of AI technology of Tencent and that we believe this will transform the e-commerce landscape on TikTok by offering dynamic interactive shopping experience for customers across the region. This innovative approach to product marketing has been successful as it captures the attention of the TikTok community and creates a unique shopping experience for viewers by providing a platform that can answer customer queries, provide product details, and offer personalized recommendations. This new way of shopping was expected to not only drive increased revenue for ZagCity, our e-commerce subsidiary, but it set new standards in the live commerce industry. Later in the quarter, we made history by hosting a first event as Jack City became the first business in Malaysia to conduct a live commerce session on TikTok. This well-attended event that was co-hosted by humans and an AI robot surpassed internet expectations with over 6400 viewers participating in the session. Because of the potential of this innovative technology in reshaping the way consumers interact with brands, we demonstrated our ability to enhance consumer shopping experience, leading to more consumer engagement and approximately 1,100 purchasers. The event was a significant leap forward for digital shopping experience. Because of its popularity, TikTok Light Commerce provides a significant opportunity for Treasure Global to diversify our revenue stream and showcase product on Zaxity in a more innovative and engaging manner. TikTok status at the world's highest traffic, live commerce platform made it the ideal stage for Zaxity to unveil our groundbreaking technology and to showcase Zaxity product and services. Throughout the quarter, we continue to look for a new way to reach consumers and to push the traditional boundary of e-commerce. Following the success of our first live commerce event, we hosted another event on Meta Platform with an AI robot, equipped with advanced language capability to engage with thousands of viewers in multiple languages, breaking down language barriers and enhancing accessibility. These successful events stepped into a lucrative market that are reshaping the future of e-commerce. With Malaysia e-commerce market projected to reach US$20.9 billion by 2029, Treasure Global is strategically positioned to play a role in this anticipated expansion growth. In the second quarter, we unveiled the new Zach City Premium Store, offering an enriched user experience with diverse packages, including top brands for our strategy partners, creating a robust and diversified offering for users. powered by our cutting-edge technology. The Zaxity Premium Store offers innovative features such as personalized recommendations, AI-driven discounts, and real-time transaction tracking, providing users with an unparalleled and seamless shopping experience. The Premium Store aims to drive transactions as well as increase gross profit for the transaction global. We also announced the launch of 10 mini-games in Zaxity 3D World. powered by a treasured global AI game creator. We incorporated an AI-powered game creator within the Zack City 3D world so that users can customize and play the 10-game integrated mini-games. This strategy moved not only enhance the gaming experience for users, but also positioned Zack City to access the rapidly growing US dollar $212 billion global gaming market by offering in-game purchase and virtual goods. Our interest in true gaming aligns with our commitment to diversifying our revenue stream. I am proud to say that our reputation for innovation has been recognized. During the quarter, Treasure Global Zaxity received the Silver Trophy for Best E-Commerce Solution at Marketing Interactive Asia E-Commerce Award 2023. The award recognized our commitment to excellence in the dynamic landscape of digital commerce. Finally, we recently announced that we have entered into Strategy Alliance with AIO Synergy, a pioneering IT services development company. Through this collaboration, we are focused on reshaping the landscape of AI by working towards the development of next-generation AI solutions and developing an exclusive stage of the Art Data Center created specifically for AI applications. which will serve as a hub for cutting-edge AI data analytics and the creation of AI-generated human experience. The initial focus of this partnership is on the Malaysian market, where both Treasure Global and AIO Synergy are committed to providing transformative AI solutions to businesses across our various industries. We expect to capitalize on the Southeast Asian AI market, project the growth and leverage the region's burgeoning interest and investment in AI. This collaboration not only marks a milestone for the two companies, but it is also a significant step toward fostering innovation and technological excellence in the Southeast Asian region at an opportune time. Throughout the first half of our fiscal year 2024, we have demonstrated our commitment to developing innovative products and advancing new market opportunities through strategy partnerships. We continue to make progress on our key priority, growing our addressable market and developing innovative new revenue generation opportunity. We have clearly established ourselves as leader in AI e-commerce and continue to release innovative services offering, which are increasing user engagement. I believe this opportunity has positioned Treasure Global to deliver continued growth and innovation and allow us to pursue higher margin activity. In closing, I am pleased with the progress that we have made on our business strategy and I am excited about the opportunity ahead for Treasurer Global. We continue to prove ourselves as the leading innovator in the region, positioning us to continue to add new customers and attract more partners and investors. I believe we are well positioned for the future and we will continue to innovate and generate more profitable growth. I will now pass the call over to Michael to discuss our financial results in greater detail.