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JinkoSolar Repurchased 5,596,739 ADSs under Its Share Repurchase Program
SHANGRAO, China, Aug. 30, 2024 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative
PR Newswire
Fri, Aug 30
Dell shares jump as record AI server revenue drives Q2 beat; annual forecast hiked
Investing.com -- Dell Technologies reported Thursday second-quarter results that topped Wall Street estimates, driven by record revenue in its infrastructure solution business as strong demand for its
Investing.com
Fri, Aug 30
Ambu shares plummet on disappointing earnings - Reuters
Investing.com -- Shares in Ambu (CSE:AMBUb) slumped on Friday following the Danish medical equipment maker's third-quarter earnings report, with analysts citing lower-than-expected results in the Endo
Investing.com
Fri, Aug 30
Indonesia shares higher at close of trade; Jakarta Stock Exchange Composite up 0.04%
Investing.com – Indonesia equities were higher at the close on Friday, as gains in the Infrastructure, Agriculture and Basic Industry sectors propelled shares higher.At the close in Jakarta, the Jakar
Investing.com
Fri, Aug 30
MINISO Group Announces 2024 June Quarter and Interim Unaudited Financial Results
GUANGZHOU, China, Aug. 30, 2024 /PRNewswire/ -- MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) ("MINISO", "MINISO Group" or the "Company"), a g
PR Newswire
Fri, Aug 30
Hilton Saigon Unveils Elevated Dining Experiences with Residence Eleven Restaurant and Song Bar
Perched on the top floors of Hilton Saigon, these venues offer stunning river views, exquisite cuisines and a chic atmosphere that redefines dining in the city HO CHI MINH CITY, V
PR Newswire
Fri, Aug 30
Australia shares higher at close of trade; S&P/ASX 200 up 0.58%
Investing.com – Australia equities were higher at the close on Friday, as gains in the Gold, Industrials and Energy sectors propelled shares higher.At the close in Sydney, the S&P/ASX 200 added 0.58%.
Investing.com
Fri, Aug 30
Taiwan shares higher at close of trade; Taiwan Weighted up 0.84%
Investing.com – Taiwan equities were higher at the close on Friday, as gains in the Semiconductor, Other Electronic and Electronics sectors propelled shares higher.At the close in Taiwan, the Taiwan W
Investing.com
Fri, Aug 30
Asia stocks rise but still set for August losses; PCE data awaited
Investing.com-- Asian stocks rose on Friday as technology stocks recovered from Nvidia-induced losses, while month-end bargain buying saw Chinese shares rebound from more-than six-month lows. But most
Investing.com
Fri, Aug 30
Airdoc Technology 2024 Interim Results: Solid Growth in Revenue and Gross Profit
On August 28, Airdoc Technology (2251.HK) announced its 2024 interim results, demonstrating continued solid growth.In the first half of 2024, Airdoc Technology achieved revenue of RMB93.71 million, a year-on-year increase of 13.6%. Gross profit reached RMB53.76 million, with a gross profit margin of 57.4%. The Company achieved steady growth in both revenue and gross profit, further consolidating its leading position in the industry.As a global leader and pioneer in the field of retinal imaging AI technology, the Company has further enhanced the coverage and effectiveness of its health management services by continuously promoting the in-depth application of AI technology during the reporting period.Diversified strategies yield results, business growth accelerates steadilyThe Company has focused on its core business to achieve sustainable growth while promoting its diversified strategies. During the reporting period,the company's business covered three major segments: Airdoc Medical, Airdoc Health, and Airdoc Eye Health. Airdoc Medical and Airdoc Eye Health achieved revenue growth of 22.1% and 22.7% respectively.The significant increase in the number of customers and service sites has driven the expansion of the overall business. In the first half of the year, the number of customers increased to 418 and the number of active service sites increased to 5,950, representing a 78.63% increase year-on-year. The Company served 2.96 million people through its SaMD and health risk assessment solutions, identifying 15,842 significant positive cases, with a cumulative total of more than 70,000 significant positive cases identified, making a significant contribution to the early detection and treatment of major diseases.The Company has further enhanced the accessibility of healthcare services through the widespread application of Airdoc-AIFUNDUS (1.0). The number of active service sites covered in hospitals reached 244, reflecting a year-on-year increase of 70.6%, while the number of active service sites covered in primary care organizations reached 1,533, a year-on-year increase of 192.0%. The number of tests has grew significantly in both hospitals and primary care organizations. In addition, the Company deployed AI solutions in more than 296 medical check-up centers nationwide, and the reorder rate of software products in some medical check-up centers exceeded 50%.Global market expansion is also accelerating at the same time. After obtaining market access in the CE27 countries of the European Union, the company’s products have entered markets such as Malaysia, Singapore, Thailand, the United Arab Emirates and South Africa, and the revenue of international business has increased by 17% year-on-year.AI technology breakthroughs, intelligent upgrade of visual trainingDriving the company’s growth are the continuous iteration and upgrading of products, along with investment in research, which act as dual engines. Ensuring long-term competitiveness and meeting the increasingly complex and diversified needs of our customers are the necessary safeguards for success. These include, but are not limited to, the postoperative refractive error prediction method developed by the Company in collaboration with the Eye, Ear, Nose and Throat Hospital of Fudan University, which has been published in the Journal of Cataract and Refractive Surgery (JCRS), providing ophthalmologists with a more reliable clinical reference.A semi-supervised deep learning model developed in collaboration with Xinhua Hospital, Shanghai Jiao Tong University School of Medicine, has also achieved remarkable results and was published in iScience, a sub-journal of Cell. The model significantly reduces the cost of data labeling while maintaining excellent classification results, providing a new solution for clinical applications.During the reporting period, the Company also successfully developed AI eye movement technology based on ordinary RGB cameras and integrated it into its vision training AI products, forming a unique AI vision training digital therapy. The upgraded version of the vision training AI products added AI eye movement and AI training guidance functions, and launched the AI VisionBox for the optometry market.In addition, the AIFUNDUS-M multimodal fundus camera has completed its development and registration, and its hardware, software, algorithms and solutions have been fully upgraded. Meanwhile, the Company is actively advancing the research and development of non-invasive phototherapy device to continuously expand its product line.Firm commitment to advancing technology and integrated diagnostics for public benefitAirdoc Technology understands that corporate excellence also stems from the deep practice and relentless pursuit of social responsibility. Therefore, the company actively participates in public welfare programs, such as the large-scale chronic disease screening program in Yangchun City, Guangdong Province, which provides free chronic disease screening services for 10,000 citizens. Additionally, the company assists the laboratory sponsored by BGI in conducting risk monitoring for high-altitude sickness. During the reporting period, Airdoc's public welfare covered about 100,000 people.Looking ahead, Airdoc Medical Technology will continue to deepen the application of AI technology in the field of medical and healthcare, and promote the wide application of General Artificial Intelligence (AGI) in assisted diagnosis, disease detection and personalized medical advice, further optimize its product portfolio, continue to expand its market channels, and enhance its global market coverage by strengthening its technological research and development and production capabilities. With the improvement of the laboratory in Changsha manufacturing base, the Company will maintain its competitive advantages in the areas of AI-based myopia prevention and control products for fundus retina, myopia prevention and control products and vision training AI products.Airdoc Technology is firmly promoting the strategy of integrated diagnosis and treatment from detection to diagnosis, driving the comprehensive upgrade of the AI health industry, creating greater value and possibilities for society, and committed to the mission of making healthcare accessible and affordable for everyone.30/08/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.com
EQS
Fri, Aug 30
Modern Dental Group Increased 2024 Interim Dividend by 33% YoY, Accelerated Growth on Digital Cases with a 2-Year CAGR of 56%
RESULTS HIGHLIGHTS:● The Revenue for the six months ended 30 June 2024 (“the Period”) was approximately HK$1,701.8 million, representing an increase of about 6.3% compared to the same period last year. Notably, the major European market accounted for 48.4% of the Group's total, with sales growing by 16.2% compared to the same period last year.● The Gross Profit Margin for the Period was approximately 53.7%, with a gross profit of about HK$914.0 million, represents an increase of approximately 5.4% compared to the same period last year.● The Group’s Adjusted EBITDA for the Period was approximately HK$388.6 million, representing an increase of approximately 5.1% as compared to the same period last year.● The profit from the Group's core business for the Period was approximately HK$225.5 million, representing a growth rate of 7.2% compared to the same period last year. ● The Group’s Net Profit for the Period was approximately HK$214.4 million, representing an increase of approximately 1.9% as compared to the same period last year.● With respect to the Group’s EBITDA and Net Profit for the Period, it should be noted that the figures reflect: (i) one-off cost in connection with potential acquisitions of approximately HK$2.8 million; and (ii) one-off cost in connection with Shenzhen and Vietnam production facility relocations of approximately HK$10.2 million.● Basic earnings per share for the six months ended 30 June 2024 amounted to HK$22.59 cents.● The Board declared an interim dividend of HK8.0 cents per ordinary share for the six months ended 30 June 2024.● During the period under review, The Group’s digital solution cases (overseas and domestic) that are produced from its Mainland China production facilities increased to approximately 602,485 cases reflecting an increase of 61.1% as compared with the same period in 2023 as a result of our clients’ continued adoption of intra-oral scanners.(29 August 2024, Hong Kong) - Modern Dental Group Limited (hereinafter referred to as "Modern Dental Group" or "the Group", stock code: 03600.HK”), a leading global dental prosthetics provider, is pleased to announce the unaudited interim results for the six months ended 30 June 2024 (“the Period”).During the six months ended 30 June 2024, although the macro-economic environment continues to be challenging, the Group’s multi-dimensional strategies and comprehensive products portfolio, encompassing higher-priced and cost-effective dental treatments, enabled the Group to capitalize on market opportunities by capturing new customers and increase its sales volume, displaying the Group’s ability to outperform its competitors throughout the economic cycle. The consolidation trend of the dental prosthetics industry is clearly continuing, and with the addition of our Vietnam production facility and Dongguan Phase 2 production facility - the Group has further improved its market positioning.The Group’s continued sales increase represents a solid execution across each of the Group’s markets operationally and financially, illustrating the Group’s ability to deliver strong financial results in a relatively stable operating environment characterized by consistent order volume growth, competitiveness in the industry, and close relationship with its clients and customers. The Group’s underlying fundamentals continue to be solid and we are well-positioned to capture further opportunities going forward.European BusinessDuring the period under review, the European market recorded a revenue of approximately HK$822.9 million, representing an increase of approximately HK$112.9 million as compared with the six months ended 30 June 2023. This geographic market accounted for approximately 48.4% of the Group’s total revenue. The increase of revenue from the European market was attributable to the increase in sales order volume driven by the launch of new products, such as digital dentures, and our state-of-the-art digital workflows.The Group has been the frontrunner providing comprehensive digital solutions offerings, ranging from numerous minimal invasive and aesthetic prosthetic solutions to intra-oral scanners and clear aligners, and is well positioned to capture the opportunities arising from the accelerated digitalization trend of the dental industry. The Group continues to aggressively gain market share from international and domestic competitors through our established dental ecosystem solutions with a focus on education and digitalization, which is available within close proximity to our clients; effectively meeting our clients’ high expectations through our various onshore and offshore resources.North American BusinessDuring the period under review, the North American market recorded a revenue of approximately HK$385.3 million. This geographic market accounted for approximately 22.6% of the Group’s total revenue.Our clients’ interest surrounding digital dentistry continued to increase during the period. A significant portion of our business in the North America region comprises higher-end products manufactured domestically. With our centralized digital workflows and network oversight over our wide coverage of production units within the region, we are well positioned to support the customers’ needs through their digitalization journey, focusing on leveraging efficiencies and providing an enhanced customer experience throughout the network. Looking forward, the Group targets to utilize the Vietnam production facility to establish a new business unit specialized in serving mid/large scale dental clinic chains customers in the North American market.Greater China BusinessDuring the period under review, the Greater China market recorded a revenue of approximately HK$335.8 million. This geographic market accounted for approximately 19.7% of the Group’s total revenue. As a result of the increase in sales volume in the Mainland China market following the full implementation of the volume-based procurement policy in the Mainland China market gradually since the second half of 2023, our Mainland China business reported a sales growth of 9.5% in the Period compared to the same period last year but is offset by the depreciation of RMB against HK$ by 2.7%. However, this also led to aggressive promotions for dental implant treatments by Mainland China dental clinics in Hong Kong (which experienced a notable decrease in patient visits in Hong Kong).The Group is optimistic in its mid/long-term outlook for this market in particular where the latest procurement-related government measures are expected to (i) standardize the pricing of dental prosthetics and develop price transparency, which would level the playing field; (ii) allow the Group’s leading brand name and reputation to be a key consideration for its client and customer; and (iii) have the Group benefit from its large production team and its ability to allocate resources efficiently according to the customer or client.Australian BusinessDuring the period under review, the Australian market recorded a revenue of approximately HK$127.9 million representing an increase of approximately HK$3.6 million as compared with the six months ended 30 June 2023. This geographic market accounted for approximately 7.5% of the Group’s total revenue. The increase of revenue from the Australian market was predominately due to the increase in sales volume as a result of the increase in market share driven by the digitalization trend in dental industry which is partially offset by the depreciation of AUD against HK$ by 2.8% compared with the six months ended 30 June 2023.Through our various brands, which offer onshore-and offshore- made products, at multiple price points ranging from economy and standard to premium/boutique, the Group is able to effectively penetrate the entire Australian market.Future ProspectsIt is expected that the Group continues to consolidate the dental prosthetic market, and the Board is of the view that the consolidation trend is irreversible and clearly continuing. Therefore, notwithstanding any short- or medium-term challenges the global economy may face, the Board is confident that the Group is expected to outperform its competitors. In a year where some of the Group’s competitors had faced materially adverse issues, the Group continued to thrive and it is the Group’s ability to thrive during such uncertain economic conditions that give the Board comfort in its optimistic view of the Group.Going forward, the Group aims to reinforce its worldwide leading position through opportunistic transactions including strategic co-operations, acquisitions, joint ventures and/or partnerships, to further expand and complement our product-offering (in particular, our clear aligner products), distribution and sales networks which will in turn, drive our business expansion. The Group continues to grow into more than just a one-stop shop dental prosthetic provider, but a full dental ecosystem to support our customers. The Group’s investment in Dongguan phase 2 and Vietnam production facilities are expected to provide the Group with greater production solutions and optionality which will in turn, increase the Group’s level of research and development in further enhancing our production and products.Looking forward to 2024, with the Board’s extensive experience and determination to meet any short-term challenges, the Group is in an ideal position to take full advantage of, and will remain opportunistic in, any business opportunities whilst remaining cautious and prudent in safeguarding shareholders’ interests.About Modern Dental GroupModern Dental Group Limited (Stock code: 03600.HK) is a leading global dental prosthetics provider, distributor and consultant with a focus on providing custom-made prostheses to customers in the growing prosthetics industry. Our product portfolio is broadly categorized into three product lines: fixed prosthetic devices, such as crowns and bridges; removable prosthetic devices, such as removable dentures; and other devices, such as orthodontic devices, sports guards, clear aligners, and anti-snoring devices.Modern Dental Group has a global portfolio of respected brands, including Labocast, Permadental and Elysee Dental in Western Europe, YZJ Dental in China, Modern Dental Lab in Hong Kong, Modern Dental USA in the United States, and Southern Cross Dental in Australia. We have grown these brands by providing premium and consistent quality products and superior customer service. We have more than 80 service centers in over 23 countries and serve over 30,000 customers.30/08/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.com
EQS
Fri, Aug 30
Huitongda Network Interim Report 2024: Service Revenue Up 12% Year-On-Year Amidst Industrial Upgrading with High Quality
On August 28th, Huitongda Network Co., Ltd. (9878. HK) released its financial report for the first half of 2024, when the company proactively adjusted its development strategy to focus on optimizing its industrial structure and promote high-quality business development. According to the financial report, Huitongda Network recorded a total revenue of 32.86 billion yuan and a net profit attributable to the parent company of 130 million yuan; The quality of operation has steadily improved, with a gross profit margin of 3.5%, an increase of 0.5 percentage points compared to the same period last year.Uncertainties in the global macroeconomy are on the rise and consumption growth falls short of expectations in the first half of 2024. The retail sales of consumer goods in China totaled RMB 23.6 trillion for the half year, with per capita disposable income of urban residents increasing by 4.6% and per capita disposable income of rural residents increasing by 6.8%, according to the National Bureau of Statistics of China.The income and consumption growth rate of rural residents in domestic lower-tier markets is better than that of urban markets, but demand is still under pressure in the short term. Given the severe situation, Huitongda Network takes "improving quality and efficiency in transformation and innovation" as its general principle for the year, actively adjusts its industrial structure and improves operational efficiency to further promote business transformation and upgrading.Huitongda Network, the industrial Internet leader exploring expansion into lower-tier retail market, served for family-run stores in villages and towns through the empowerment of digital technology and supply chain capacity. For one thing, the Group created a stable and efficient one-stop supply chain and provides multi-category transaction services; For another, by empowering upstream and downstream partners in the urban-rural industrial chain through digitization, it provided services such as SaaS+ services and merchant solutions. At present, the Group has formed a retail ecosystem covering 24,000 townships in 21 provinces and municipalities directly under the central government in China. Its main products focused on the "three high categories" of high product value, high offline experience, and high after-sales requirements, covering seven major categories of consumer electronics, household appliances, agricultural means of production, vehicles and auto parts merchandise, liquor and beverages, home building and renovation materials, and personal care.In the commerce business sector, the Group has steadily improved its supply chain capacity, achieving a revenue of 32.39 billion yuan during the reporting period. According to the financial report, the Group has over 246,000 registered member retail stores as of the end of June 2024, a year-on-year increase of 13.2%; Over 92,000 active member retail stores, a year-on-year increase of 19.3%. The revenue of member retail stores has increased to 43.8% compared to the same period last year, further strengthening the control over downstream channels.In constructing supply chain capacity, the Group focused on brand cooperation, integrated production and marketing, and market expansion in the first half of the year, improving the efficiency of the entire industry chain. In respect of brand cooperation, the company deepened cooperation with leading brands in seven major sectors including household appliances, consumer electronics, and vehicles and auto parts merchandise, while expanding cooperation with resource-based and regional retail enterprises; In respect of integrating production and marketing, the company has established an innovative supply chain model and taken the lead in incubating integrated production and marketing projects in the home appliance and agricultural means of production industries, greatly improving the efficiency of the supply chain and the output of commercial business value. Among them, the self-owned brand "IDISSA" air conditioner launched in the first half of the year exceeded 16000 sets of orders in just two weeks, setting the "ultimate cost-effectiveness" label for the lower-tier market. Moreover, the Group has expanded into areas such as home cleaning, personal care, and photovoltaics while consolidating existing business, striving to improve gross profit levels and promote sustainable growth.In the service business sector, the Group continued efforts to strengthen the capacity for serving members, achieving a revenue of 380 million yuan in the first half of the year, a year-on-year increase of 12.0%. According to the financial report, the Group accumulated over 127,000 SaaS+ subscription users in the first half of the year, a year-on-year increase of 5.1% and nearly 48,000 paid SaaS+ users, a year-on-year increase of 28.8%, along with store SaaS+ subscription revenue of RMB 310 million, a year-on-year increase of 13.6%. The loyalty of member retail stores further improved.Focusing on upgrading product value, the Group further strengthened its capacity for serving members during the reporting period. In product upgrades sector, the Group promoted further upgrading of SaaS+ products, gaining market recognition in efficiently empowering digital management of stores and targeted marketing strategy advice for members; In membership services sector, joint promotional activities were carried out with brand owners and manufacturers in the first half of the year, with a total of 6 national sales promotions, and more than 27,000 store-based personalized activities; In customer development sector, continuous progress has been made in the key customer service strategy, and deep cooperation has been established with over 60 domestic service enterprise customers, brand owners, and chain merchants.In respect of digital construction, the Group continued to upgrade its industrial trading platform in the first half of the year, launching functions such as merchant live streaming rooms and price inquiry and trading of products. It also promoted technological innovation and strengthened the application of cutting-edge technology to enhance the AI review of products and achieve automatic generation of product description, ensuring fast listing while improving service efficiency.Regarding the shareholder returns, the Group actively followed the government's initiative in the form of favorable returns to investors based upon the new "National Nine Articles" (short for Opinions on Strengthening Regulation to Prevent Risks and Promote High-Quality Development of Capital Markets, which consists of nine parts). In July, a proposal was passed to formulate a Shareholder Dividend Return Plan for the Next Three Years (2024-2026) and amend the Group's articles of association, opening a window for the implementation of the shareholder dividend return plan in the next three years.Since its listing, Huitongda Network stays committed to the mission of "making farmers' lives better", developing the low-tier market while promoting rural revitalization. On the one hand, the Group deepened the empowerment of rural talents and conducted training for over 20000 new farmers in the first half of this year; On the other hand, it fully integrated digital technology into the real economy in the low-tier market through applying digital technology in rural development. The Group's industrial Internet mode has been reported by the "People's Daily", "Xinhua News Agency" and other national media for many times during the reporting period. Meanwhile, its business value has also been recognized by the capital market after being included in the MSCI World Small Cap Index, and listed as the "Fortune China 500" for three consecutive years.Huitongda Network stated that looking ahead, the Group will adhere to sustainable and high-quality development by focusing on four core competencies: supply chain capability, brand operation capability, platform service capability, and organizational construction capability, to improve the operational efficiency of member retail stores, thereby promoting further upgrading of urban and rural industrial ecosystem, while promoting rural revitalization and high-quality development of digital villages.30/08/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.com
EQS
Fri, Aug 30
US stock futures rise as Nvidia losses ease; PCE inflation awaited
Investing.com-- U.S. stock index futures rose in evening deals on Thursday as a rout in technology stocks eased after earnings from Nvidia Corp showed artificial intelligence-fueled demand still r
Investing.com
Fri, Aug 30
Newborn Town sees a net profit growth of 28% to RMB 388 million, total revenue surpassed 65% for the first half of 2024, whilst the MENA market revenue surged by over 44%
Newborn Town sees a net profit growth of 28% to RMB 388 million, total revenue surpassed 65% for the first half of 2024, whilst the MENA market revenue surged by over 44%On August 29, Newborn Town (09911. HK) unveiled its interim results for the first half of 2024, demonstrating significant growth in various key operational indicators. The improvement was driven by its skyrocketing pan-audience social networking business and further expansion in the MENA market.According to the announcement, Newborn Town reported a total revenue of RMB 2,272 million for the first half of 2024, marking a substantial 65% period-on-period increase. Net profit for the period reached RMB 388 million, up 28% period-on-period. Profit attributable to the owners of the Company was RMB 225 million, reflecting a 21% period-on-period rise. Adjusted EBITDA totaled at RMB 448 million, demonstrating a 29% period-on-period increase. The social networking business segment attained robust growth, achieving revenue of approximately RMB 2,070 million, marking a 67% growth period-on-period. Additionally, the innovative sector made significant progress, recording revenue of around RMB 202 million, reflecting a 54% period-on-period growth.Notably, the Company's long-term investment in the MENA region has been yielding positive feedback. The capability for "product replication "has been further strengthened, with new products represented by SUGO rapidly maturing, thus bringing fresh growth momentum to the Company. As one of the major markets, the MENA market has consistently been the core focal point of the Company’s strategic implementation of localization strategy. Through years of in-depth regional operations, Newborn Town has built up a comprehensive regional organization, nurtured a local team of employees, and forged strong connections with local creators and partners. The benefits brought about by Newborn Town's localization efforts are becoming increasingly evident. For the first half of 2024, the MENA market contributed over 50% of the company's social networking business revenue, with the core products recording a 44% period-on-period increase.The MENA region has also been the market for Newborn Town's new business incubation. Products with high potential, such as TopTop and SUGO, have been successfully scaled up from inception as their business models were verified for global market expansion.This August, Saudi Arabia's Ministry of Investment granted Newborn Town a Regional Headquarters (RHQ) license, making it the world's first social entertainment company to establish a regional headquarter in Saudi Arabia. This move further consolidates Newborn Town's efforts in the MENA region.Under the RHQ program, Newborn Town will aim to build a trustworthy enterprise in the MENA region through close connections with governments, active engagement in community development and charitable activities, serving the local populace and building an ecosystem. While continuously widening the moat with its localization strength, Newborn Town has also achieved significant breakthroughs in product operation, starting to achieve the goal of replicating the popular apps that generate tens of millions of dollars in monthly revenue. After MICO, the companion-based social app SUGO has reached the target.Newborn Town's operation strategy, centered on cultivating the "Bushes" housing apps with diverse features, has been developed through a deep understanding of users' specific social and entertainment needs. Under this strategy, Newborn Town's strength in app operation has steadily advanced, alongside enhancements in the middle platform mechanism.Moreover, the company's aggregated localized operation resources have hastened the emergence of hit apps by facilitating swift product launches, cost-effective trial and error testing, and highly efficient verification.SUGO and TopTop, the new apps under Newborn Town, have both experienced explosive revenue growth. SUGO, for example, has achieved an over 250% period-on-period increase in revenue. In July, SUGO contributed the majority revenue to Newborn Town among the apps.TopTop, the social gaming platform with a double period-on-period revenue increase in the first half, was featured as a recommendation on the Apple App Store in May, reaching users across dozens of countries and regions, including Saudi Arabia, the United Arab Emirates, and Oman.The first-mover products, such as MICO and YoHo, have also made significant strides. MICO, TopTop, SUGO, and YoHo all ranked on Sensor Tower's Top 10 highest-grossing social apps in MENA from January to May 2024.According to the announcement, the company will persist in its pursuit of creating successful products in increasingly specialized niches and duplicating more apps that yield monthly revenues in the tens of millions of US dollars.Beyond its achievements in pan-audience social networking business, Newborn Town’s other business segments have also seen notable progress.HeeSay, the LGBTQ+ online community, has strengthened its global brand presence through more refined in-app operations. Since early this year, this platform has launched a series of offline events in Bangkok, Ho Chi Minh City, Los Angeles, etc., fostering a stronger sense of community among users. These efforts have contributed to an increase in business scale of approximately 25%.In addition, the company has continued investment in developing quality games. In the first half of 2024, Newborn Town's quality games achieved a recharge of RMB 387 million, up 393% period-on-period. Its flagship title, Alice's Dream: Merge Games, secured a spot among Sensor Tower's top 30 Chinese mobile games in overseas revenue for May and June.Overall, Newborn Town has made significant strides across key markets and various business segments in the first half of 2024. The company has reinforced the validity of its business models in the social sector, bolstering the competitiveness of its new products and injecting new growth catalysts.Moving forward, Newborn Town aims to delve deeper into the social entertainment realm, gaining a foothold in MENA and expanding globally to create positive emotional values.File: FINAL-赤子城科技公布中期業績_en_2024082930/08/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.com
EQS
Thu, Aug 29
Mexico shares higher at close of trade; S&P/BMV IPC up 1.33%
Investing.com – Mexico equities were higher at the close on Thursday, as gains in the Materials, Financial Services and Industrials sectors propelled shares higher.At the close in Mexico, the S&P/BMV
Investing.com
Thu, Aug 29
Colombia shares lower at close of trade; COLCAP down 0.57%
Investing.com – Colombia equities were lower at the close on Thursday, as losses in the Financials, Investment and Public Services sectors propelled shares lower.At the close in Colombia, the COLCAP l
Investing.com
Thu, Aug 29
Russia shares higher at close of trade; MOEX Russia up 0.31%
Investing.com – Russia equities were higher at the close on Thursday, as gains in the Oil&Gas, Telecoms and Manufacturing sectors propelled shares higher.At the close in Moscow, the MOEX Russia ad
Investing.com
Thu, Aug 29
Marvell Technology Q2 revenue tops estimates as data center revenue nearly doubles
Investing.com - Marvell Technology on Thursday reported second-quarter revenue that topped Wall Street estimates as the chipmaker's data center business nearly doubled revenue amid strong artificial-i
Investing.com
Thu, Aug 29
U.S. shares mixed at close of trade; Dow Jones Industrial Average up 0.59%
Investing.com – U.S. equities were mixed at the close on Thursday, as gains in the Oil&Gas, Industrials and Basic Materials sectors propelled shares higher while losses in the Technology, Telecoms
Investing.com
Thu, Aug 29
Brazil shares lower at close of trade; Bovespa down 0.95%
Investing.com – Brazil equities were lower at the close on Thursday, as losses in the Real Estate, Consumption and Public Utilities sectors propelled shares lower.At the close in Sao Paulo, the Bovesp
Investing.com
Thu, Aug 29
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