They're asynchronous tasks, there would be no point in using promises with synchronous tasks. So we're not talking about simultaneous execution of functions that are making use of the single thread, we're talking about serial execution of functions on a single thread which are basically doing nothing more than scheduling an asynchronous task and not bothering to wait for the result.
Think of it this way. I have 3 letters I need to send, and I'm expecting replies for each. A single threaded, synchronous language, would basically send the first letter, wait for the reply, send the second letter, wait for the reply, then send the third and wait for the reply. In JS, you're still single threaded, but you just recognize that there is no point in sitting around and waiting before moving onto the next item. So you send the first letter, and when it would be time to wait, you continue executing code, so you immediately send the next letter, and then finally send the 3rd.
How they're scheduled simultaneously on a single thread is exactly what makes JS so fast for IO. Once it starts making an http call, db call, disk read, etc, it will release the thread to begin execution of the next item in the event loop (which is the structure JS uses under the hood to schedule tasks).
So what really happens is when we call
asyncA();
asyncB();
JS will go into `asyncA`, run the code, and at some point it will get to a line that does something like "write this value to the database." This will be an asynchronous behavior, that it knows will be handled with a callback or a Promise, so it will immediately continue execution of the code. So now it pops out of executing `asyncA` and executes `asyncB`, meanwhile the call to the DB has gone out and we don't care if it has finished, we'll await both of these when we need them.