Triller Group Inc. (ILLR), formerly AGBA Group Holding Limited, reported revenue of $27.5 million for the fiscal year ended December 31, 2024, a decrease of 49.3% compared to $54.2 million in 2023. The decline was primarily attributed to a decrease in revenue from the financial services business, which was impacted by economic recession and outward migration in Hong Kong. The company's net loss for 2024 was $1,138.0 million, significantly higher than the $49.2 million net loss in the previous year, driven by increased operating expenses and other expenses.
The company operates through four main business segments: Platform Business, Distribution Business, Healthcare Business, and Fintech Business. The Platform Business offers a tech-enabled broker management platform for advisors, while the Distribution Business provides wealth and health products. The Healthcare Business is supported by a 4% stake in HCMPS, a healthcare management organization in Hong Kong. The Fintech Business manages financial technology investments.
Key operational developments included a proactive approach to reporting Consumer Accounts, resulting in the removal of over 200 million duplicate and bot accounts. As of December 31, 2024, the company worked with 522 independent financial advisors. The company also owns a 4% minority shareholding in HCMPS Healthcare Holdings Limited, one of the leading healthcare management organizations in Hong Kong.
Looking ahead, Triller Group intends to leverage its experience in China, focusing on the Greater Bay Area, and is exploring partnerships to expand its reach. The company also plans to leverage its technology, tools, and features to attract and engage creators, brands, and users, and to expand its experiential offerings. The company's management believes that the company's integrated global platform will maximize the growth potential of its business.
About Triller Group Inc.
AGBA Group Holding Limited is a Hong Kong-based wealth management and healthcare institution serving over 400,000 clients. It operates four key businesses: a tech-enabled financial platform, a leading distribution network for financial products, a healthcare management partnership, and a growing fintech investment portfolio. With a focus on the Greater Bay Area's vast market opportunities, AGBA aims to enhance customer acquisition and cross-selling through innovative digital solutions and strategic partnerships.
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