Summary by Moomoo AI
newborntown announced its unaudited interim performance for the six months ended June 30, 2024, showing that customer contract revenue reached 2271.9 million yuan, a year-on-year growth of 65.3%; gross profit was 1141.0 million yuan, an increase of 61.4%; the profit for the period was 387.6 million yuan, an increase of 28.2%; and the attributable profit to equity shareholders of the company was 224.7 million yuan, a growth of 21.3%. The company continues to deepen its presence in the Middle East and North Africa markets, and actively develops diversified social business for different population groups and innovative business such as premium gaming, achieving breakthroughs in key markets. In August 2024, the company obtained the Area Headquarters Business License from the Investment Department of the Kingdom of Saudi Arabia and became the first global social entertainment company to establish a regional headquarters in Saudi Arabia. In the future, the company will continue to promote its social business for different population groups and actively develop diversified social business and premium gaming business.
