Summary by Futu AI
Newborntown Technology Co., Ltd. (NEWBORNTOWN) announced that its half-year financial performance as of June 30, 2024, is expected to show significant growth. According to the preliminary review of unaudited comprehensive management accounts, the company's total revenue is expected to reach RMB 224.7 million to 229.7 million, an increase of 63.4% to 67.1% year-on-year. Net profit is expected to reach RMB 36.5 million to 40 million, an increase of 20.9% to 32.5%, while the company's attributable profit is expected to increase by 10.8% to 29.7%. In addition, adjusted EBITDA is expected to reach RMB 43 million to 46 million, an increase of 23.9% to 32.6%. Growth is mainly due to the company's continued expansion into the Middle East and North Africa markets, rapid growth of social products, and the completion of...Show More