Draft:YY Group Holding

YY Group Holding is a publicly listed company on the Nasdaq stock exchange (NASDAQ: YYGH). It raised $4.5 million by offering 1.1 million shares at $4.00, the low end of the range of $4.00 to $5.00. The company provides hotel and hospitality staffing and commercial cleaning services through its subsidiaries, YY Circle and Hong Ye Group. The company currently operates in Malaysia, Vietnam, Cambodia, and Australia.

YY Group Holding is the parent company of YY Circle and Hong Ye Group. YY Circle is a mobile app that matches firms with part-time workers. The app currently has some 5,000 users – from its workforce database of 32,000 – and its clientele of over 50 firms includes Fullerton Hotel, Shangri-La Hotel, Regent Hotel, and McDonald's. Hong Ye Group provides cleaning services to companies in Singapore. The founder of the group of companies is Mike Xiaowei Fu.

Based on the company's full-year 2023 financial results, the company had cash balances of $467,235, current assets of $10.2 million and current liabilities of $6.0 million, which resulted in a positive working capital of $4.2 million.