The Zhitong Finance App learned that Huiliang Technology (01860) closed up 12% yesterday and rose more than 20% in early trading today. As of press release, it rose 11.55% to HK$3.67, with a turnover of HK$27.9079 million.

According to the news, Huiliang Technology recently released first-quarter results. During the period, it achieved revenue of US$301 million, up 23.3% year on year, up 8.2% month on month; gross profit of US$61.819 million, up 31.8% year on year; and adjusted net profit increased 96.6% year on year. Since turning a loss into a profit in the fourth quarter of 2022, Huiliang Technology has achieved profits for six consecutive quarters, with revenue and profit reaching record highs in the first quarter of 2024.

According to financial reports, revenue from programmatic advertising platform Mintegral was US$284 million, up 25.4% year over year. Anxin International said that thanks to the company's infrastructure upgrades and continuous investment in R&D, Mintegral's smart bidding products have also been further verified by the market, and ROAS's smart bidding model has become the mainstream choice for developers. Q1 smart bidding products account for more than 60% of Mintegral's revenue, which is the main driving force for growth.

In addition, with the improvement of Mintegral's intelligent bidding capabilities, the company also made breakthroughs in new vertical categories, expanding to medium to heavy games with higher gross margin levels in the larger game categories, and also expanding into a large number of non-game categories such as e-commerce and social networking. 24Q1 non-game revenue increased 83.2% year-on-year to US$81 million.