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World's Largest Asset Management Company - BlackRock Set an Open Position in Newborn Town Inc. (9911.HK)

·3-min read

EQS-News / 30/06/2021 / 10:31 UTC+8

World's Largest Asset Management Company - BlackRock Set an Open Position in Newborn Town Inc. (9911.HK)


Recently, BlackRock, Inc., the world's largest asset management company, set an open position in Newborn Town Inc. (9911.HK) for the first time, and is holding a total of 6.64 million shares or 0.66% of the total shareholdings, making it the 11th largest shareholder.


According to statistics, BlackRock is the world's largest asset management company, and its chairman and CEO Laurence D. Fink is an expert in ultra-long-term strategic thinking and management. As of March 2021, it has been managing about USD 9 trillion global assets and established branches in 38 markets around the world, serving various institutional and individual investors from more than 100 markets, with extensive international influence.


BlackRock is extremely observant and shrewd of the trends in the investment market. Its investment preference is a valuable reference for the investment community.  BlackRock setting an open position in Newborn Town Inc., on the one hand, has optimized the shareholder structure of the company with more international high-quality capitals, and on the one hand, improves its publicity in overseas market, which will further facilitate the internationalization of the company in the capital market.


Public information shows that Newborn Town Inc. is a Chinese internet company focusing on global market for 10 years, specializing in social networking product development for the strangers' market. Since it was listed on the main board of the Hong Kong Stock Exchange on December 31, 2019, it has been regarded as the first going-global social networking stock, and maintained the leading position in the industry. In May this year, the stock was added in the MSCI China Small Cap Index, enhancing its liquidity in overseas markets.


Apart from BlackRock, Inc., State Street Global Advisors, Inc., the world's third largest asset management company, has also established an open position in Newborn Town Inc., demonstrating that more internationally authoritative institutional investors are interested in the company and are optimistic about the company's business. In the future, more international capitals are likely to be infused.


According to public information, Newborn Town Inc. has been deeply cultivating the global market of social networking among strangers, and established a product portfolio comprising live-streaming social networking product MICO, voice-chat social networking product YoHo and other video and audio social apps, so as to cover the diverse needs of global users. The company is already a leading social platform with a solid base in emerging markets, including the Middle East, Southeast Asia and South Asia, and continues to achieve breakthroughs in mature markets like North America and Europe, thus continuously expanding the landscape of its social networking business.


According to the public information, Newborn Town Inc. recorded explosive financial growth in Q1 of 2021, with the average Monthly Active User (MAU) of social products reaching approximately 16.58 million, a quarter-on quarter growth of more than 25%, and revenue reaching approximately RMB 504 to 544 million, nearly half of the total revenue of 2020, with a year-on-year growth of more than 470%, maintaining strong development momentum.


As top international investors like BlackRock, Inc. and State Street Global Advisors Inc. set open positions in Newborn Town Inc., the long-term investment value of the company is favored and is expected to be recognized by more international capitals, thereby accelerating the rise of its stock value.


30/06/2021 Dissemination of a Marketing Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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