Newborn Town Inc. Announced 1Q 2021 Operating Figures
Total Revenue for the First Quarter exceeded RMB 500 Million
MAU of Social Networking Apps increased by 25.75% QoQ to over 16.5 million
23rd April 2021, Hong Kong - Newborn Town Inc. (stock code: 9911.HK), the leading Chinese internet company with strategic focus on global social networking business announced the unaudited operating figures for the first quarter of 2021. During the Period, the Monthly Active Users (MAU) of social networking applications and mobile games increased significantly, which further boosted the growth in value-added service revenue (in-app purchase revenue). Value-added service revenue is estimated to range from RMB 367 million to RMB 387 million, representing a year-on-year increase of over 80 times. The revenue of traffic monetisation business (in-app traffic monetisation and mobile advertising platform and related business) has also increased significantly, with expected revenue ranging from RMB 137 to 157 million, a year-on-year increase of about 65%. The total revenue for the first quarter is estimated to range from RMB 504 to 544 million, a year-on-year growth of not less than 4.7 times.
Continuous expansion in social networking and game businesses, together with rapid growth in operating figures
Audio and video social networking products continue to expand the market, contributing significant user traffic
In 2020, Newborn Town Inc. focused on the opportunities arising from the "stay-at-home economy" in times of COVID-19 pandemic, and further developed its social networking business by establishing an audio and video social networking products matrix in global market. In particular, the social networking applications have been well-received in various markets, including the Middle East, India, Pakistan, Europe and North America. The number of users, as well as the efficiency of commercialization have increased significantly and contributed to the exponential growth of the Company's value-added service business in the first quarter.
Looking forward to 2021, Newborn Town Inc. will continue to focus on the development of social networking business, where the Group has a competitive advantage and improved product matrix. Apart from the launched popular products, namely Yiyo, MICO and YoHo, the Group will increase investment in R&D on audio and video social networking products, and develop new products for the diversified demand of different user groups in different countries around the world. By virtue of high-quality localized operation, the Group will further expand the scale of social ecology. At the same time, the Group will continue to operate diversified businesses such as mobile games and seize the new opportunities in global internet market, so as to achieve comprehensive development and growth.
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23/04/2021 Dissemination of a Financial Press Release, transmitted by EQS Group.