Newborn Town Records over 60% YoY Increase in 2024 First-Half Revenue as it Exceeds RMB 2.2 Billion

HONG KONG, July 26, 2024 /PRNewswire/ -- Newborn Town, the HK-listed tech company focusing on global social networking and entertainment fields, unveiled its first-half operating data on July 25th, highlighting outstanding performances in the social networking and innovative sectors. The company reported swift growth in its major operational metrics.

For the six months ending on June 30th, 2024, the company's social networking business has accumulated approximately RMB2,055 million to RMB2,085 million, representing a year-on-year growth ranging from 65.3% to 67.7%. The revenue from the company's innovative business is expected to be approximately RMB192 million to RMB212 million, reflecting a year-on-year growth of approximately 46.6% to 61.8%.

In the first half of 2024, Newborn Town made significant progress in expanding its pan-audience social networking business. This sector experienced rapid growth through optimised operational strategies and enhanced customer experience, resulting in increased market share for the company in key regions such as MENA and Southeast Asia.

MICO and YoHo, as pioneering apps in Newborn Town's product portfolio, have contributed steady cash flow and profit by refining their commercial strategies. Second-wave social products TopTop and SUGO witnessed substantial growth in revenue, profit, and user base through product innovation, operational enhancements, and content ecosystem development.

According to the revenue rankings of social apps in the MENA region from January to May 2024 released by Sensor Tower, the company's APPs namely MICO, YoHo, TopTop, and SUGO all ranked in the top 10 within their respective niche categories.

In addition to the pan-audience social networking business, Newborn Town's diverse-audience social networking business segment has also made positive progress. HeeSay, the LGBTQ+ online community app, has been actively launching multiple activities and campaigns, accelerating its global brand influence. DatingNews.com, a prominent media outlet in the dating industry, recognized HeeSay as one of the '10 Most Innovative Queer Dating Apps for 2024'.

Based on the vision of "Live, Love and Laugh Together", HeeSay's 'LivelyLaugh' campaign in April caught the eyes of Thai users following the HeeSay Gala held in Bangkok this January. HeeSay has also focused on app updates, introducing a new feature dubbed "Community" in June to strengthen the connection between online and offline social scenes, fostering a sense of belonging and identity among the users.

Additionally, quality games like Alice's Dream: Merge Games, have achieved an amount of recharge of approximately RMB387 million, marking a year-over-year increase of about 392.5%. This flagship game was also featured in Sensor Tower's rankings of top 30 Chinese mobile games by overseas revenue for May and June.

Since the year's commencement, Newborn Town has bolstered its core competitive advantage in localization, establishing a solid foundation for further exploration in the MENA region and other global markets. Going forward, the company will maintain its strategic focus on the MENA region while further cultivating markets in Southeast Asia, Europe, North America, Japan, and South Korea, to create positive emotional value for users worldwide.

source: Newborn Town