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[Brokerage Focus] Guoyuan International focuses on the profitability improvement of the internet plus-related sector, with going abroad and AI still being the main theme.
Jingu Financial News | Guoyuan International stated that overall, due to the slightly lower-than-expected recovery of the domestic economy, it has affected investors' confidence in the Hong Kong stock market. Currently, chinese internet companies are focusing on their main business and cutting unprofitable operations under the current macroeconomic background, ensuring net income by reducing costs and increasing efficiency, continuously optimizing the overall situation. The market generally expects a high probability of a Fed rate cut in September, which is bullish for Hong Kong stocks in terms of liquidity, and on the other hand, the internet sector in Hong Kong stocks that are sensitive to interest rates is expected to generate upward momentum. The bank recommends focusing on Hong Kong internet companies with good liquidity and stable dividends, as well as US internet companies benefiting from the recovery in consumer consumption.
[Brokerage Focus] Soochow Securities maintains a "buy" rating on newborntown technology (09911), bullish on the company's product matrix development strategy and the potential for growth of late-stage products.
Jinwu Finance News | Soochow Securities issued a research report pointing out that Newborntown Technology (09911) achieved a 24H1 revenue of 2.27 billion yuan, yoy+65.3% (previously forecasted as 22.5~2.3 billion yuan). Net income attributable to shareholders was 0.22 billion yuan (previously forecasted as 2.1~0.24 billion yuan), yoy+21.3%. Adjusted EBITDA was 0.45 billion yuan, yoy+29.2% (previously forecasted as 4.3~0.46 billion yuan). The performance is basically in line with the previous forecast. In addition, the company held multiple events worldwide from July to August this year, such as the SUGO three-year anniversary celebration.
Newborn Town Appoints Former ZTE Exec as COO
Newborntown Technology (09911) SUGO monthly revenue exceeds $10 million, becoming the company's largest revenue-generating product.
Recently, newborntown (09911) released its mid-term performance in 2024, with social business revenue reaching 2.07 billion yuan, a year-on-year increase of 67%. The company's late-stage products have grown rapidly, with TopTop revenue doubling year-on-year in the first half of the year and SUGO revenue increasing by over 250%, becoming another multi-million dollar monthly revenue product after MICO.
Newborn Town H1 Profit Jumps 21%
Newborntown Technology announces its mid-term performance: The latecomer social products have exploded, and the revenue from the Middle East and North Africa market has grown by more than 44%.
Newborntown Technology (09911.HK) announced its mid-term performance in 2024, benefiting from the continuous explosion of mass social products and further growth in the Middle East and North African markets. The company continued its growth trend in recent years, with significant improvements in major operational indicators. The announcement shows that in the first half of the year, the company's revenue reached RMB 2.272 billion, an increase of approximately 65% year-on-year; net income for the period reached 0.388 billion yuan, a 28% year-on-year increase; profit attributable to owners of the company (net profit) was 0.225 billion yuan, a 21% year-on-year increase; adjusted EBITDA reached RMB 0.448 billion, a 29% year-on-year increase. Among them, the social business
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