Summary by Futu AI
Newborntown (NEWBORNTOWN) announced its interim financial report for the six months ended June 30, 2024, showing that the company's customer contract revenue reached RMB 2,271.9 million, a year-on-year increase of 65.3%; gross profit was RMB 1,141.0 million, an increase of 61.4%; profit for the period was RMB 387.6 million, an increase of 28.2%; the profit attributable to equity shareholders of the company was RMB 224.7 million, an increase of 21.3%; adjusted EBITDA was RMB 448.5 million, an increase of 29.2%. During the reporting period, the company continued to focus on the Middle East and North Africa markets and in August 2024, obtained a regional headquarters business license from the Saudi Arabian Kingdom's Investment Department, becoming the first global social entertainment company to establish a regional headquarters in Saudi Arabia. In addition, on June 27, 2024, the company signed a share purchase agreement with BGFG, JJQJ Partners Limited, JZZT Limited to acquire the equity of NBT Social Networking Inc., with a total consideration of HKD 1,982,658,000. This interim financial report has not been audited but has been reviewed by KPMG Certified Public Accountants.
