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Newborn Town Sees 2024 Rev Rise About 51.1% to 57.2% on Year >9911.HK
Newborn Town: Rise in Rev Primarily Due to Rapid Growth of Social Products Driven by Use of AI >9911.HK
Newborn Town Issues Positive Profit Alert for FY2024: Total Revenue Estimated to Exceed RMB 5 Billion, With Adjusted EBITDA Approaching RMB 1,000 Million
NEWBORNTOWN (09911.HK) earnings announcement: expected revenue growth of approximately 51.1% to 57.2% year-on-year in 2024.
Gelonghui March 4丨NEWBORNTOWN (09911.HK) announced that for the year ending December 31, 2024, the group's total revenue is expected to be approximately 5 billion to 5.2 billion yuan, representing a growth of about 51.1% to 57.2% compared to the same period in 2023. This expected growth is mainly attributed to the group's rapid growth in diversified social products driven by AI technology, as well as the consolidation of the financial statements of Bluetown Brothers Holdings Limited and Land of Glory Ltd. into the group's consolidated financial statements in the third quarter of 2023. After excluding the group's results in the third quarter of 2023 from the computation.
