$MOBVISTA (01860.HK)$After the performance, the stock opened nearly 15% higher, as of the press release, it rose by 24.25%, to 6.2 Hong Kong dollars, with a turnover of 0.212 billion Hong Kong dollars.

On the news front, Mobvista announced its performance, in the third quarter, the group's revenue reached a new high, with a year-on-year increase of 54.6% to 0.416 billion US dollars; during the same period, the group's profit continued to improve, with net income increasing by 49.2% to 0.109 billion US dollars. Among them, its programmatic advertising platform Mintegral continued to hit new highs, achieving a revenue of 0.403 billion US dollars, with a significant year-on-year increase of 57.6%, a quarter-on-quarter increase of 25.7%, compared to the second quarter of 2024, both year-on-year and quarter-on-quarter growth rates accelerated.

CICC stated that Mobvista announced its performance for the third quarter of 2024: revenue of 0.42 billion US dollars, a year-on-year increase of 54.6%, exceeding previous expectations, mainly benefiting from strong growth in verticals such as gaming and e-commerce; adjusted net profit attributable to the parent company reached 11.72 million US dollars, with an adjusted net margin of 2.8%, after excluding the impact of Hotsoon's arbitration-related expenses, it basically met previous expectations.

The bank stated that considering the upgrade and iteration of the company's algorithm capabilities and the stabilization of the industry environment, it raised the revenue forecast for 2024 and 2025 by 17.4% and 17.8% to 1.47 billion US dollars and 1.76 billion US dollars, raised the adjusted net income forecast for 2024 and 2025 by 17.1% and 13.2% to 37.41 million US dollars and 69.39 million US dollars.

Editor/Rocky