The current trading session observes a notable upsurge in Treasure Global Inc. (NASDAQ: TGL) stock. Presently, TGL shares exhibit a remarkable 38.26% increase, reaching $6.06 on the US stock charts. This upward momentum in TGL's share value appears to be spurred by recent advancements despite the absence of any immediate news developments.
Treasure Global (TGL) recently declared the triumph of ZCITY's Premium Store, achieving significant milestones within the initial four-month period since its inception. The Premium Store has not only exceeded sales projections but has also substantially amplified user interaction. The corporation anticipates that the success of the ZCITY Premium Store will positively impact its revenue growth.
Treasure Global's steadfast dedication to innovation and adapting to shifting consumer demands is vividly portrayed through the remarkable accomplishments of the ZCITY Premium Store. Since its launch, the Premium Store has vended over 6,000 Bill Saver Bonanza Packs, comprising 10 units of RM10 bill payment vouchers and 2,000 Zcoins. This noteworthy sales performance underscores the platform's efficacy in stimulating transactions and augmenting revenue streams.
By harnessing cutting-edge AI tools, including technologies developed by OpenAI, ZCITY has gained invaluable insights into user expenditure patterns and preferences. This data-centric approach has empowered the Premium Store to furnish highly personalized packages tailored to individual user requisites and inclinations, thereby fostering heightened engagement and contentment among ZCITY's user base.
Since its inception, the Premium Store has made substantial contributions to TGL, aiding the Company in achieving a 48% year-over-year revenue surge for the second quarter of fiscal year 2024, or the three-month period ending December 31, 2023. This substantial growth underscores the strategic significance of the Premium Store in propelling business expansion and profitability for Treasure Global.
Emphasizing on higher-margin ventures, including ZCITY's Premium Store, Treasure Global has also realized notable enhancements in its financial performance. During the second quarter of fiscal year 2024, the Company's year-over-year net loss has diminished from US$2.0 million to US$1.2 million, reflecting the efficacy of strategic endeavors such as the ZCITY Premium Store in driving business expansion and profitability.
Treasure Global remains steadfast in its commitment to fostering innovation and delivering unparalleled user experiences. With the continued prosperity of the ZCITY Premium Store, the Company anticipates further enriching its offerings and extending its reach into pivotal markets.