newborntown (09911) rose more than 3%, as of the press release, up 3.43%, at 4.2 Hong Kong dollars, with a turnover of 10.2533 million Hong Kong dollars.
According to the Wisdom Financial APP, newborntown (09911) rose more than 3%, up 3.43% as of the press release, at 4.2 Hong Kong dollars, with a turnover of 10.2533 million Hong Kong dollars.
On the news front, on November 26, newborntown issued an announcement involving share purchase agreements signed with BGFG, JJQJ, and JZZT. According to the agreement, the company will purchase 77.83 million shares of the target company NBT Social Networking for a total price of approximately 1.983 billion Hong Kong dollars, including a cash consideration of 0.994 billion Hong Kong dollars and consideration shares issued at a price of 4.5 Hong Kong dollars per share. This transaction is expected to make the target company a wholly-owned subsidiary of the company and fully incorporate its financial performance into the company.
According to the announcement, as of December 31, 2023, the target company's financial data showed revenue of 2.491 billion yuan, an 18.1% increase from 2022; pre-tax net income was 0.645 billion yuan, a 58.5% increase. As of June 30, 2024, the target company continued to show strong growth, with revenue of 1.615 billion yuan, gross profit of 0.82 billion yuan, demonstrating the company's robust performance in the social business field.
The announcement also mentioned plans to hold a special shareholders' meeting on December 12, 2024 to discuss and vote on the proposal regarding the restricted share unit plan for NBT. The plan aims to incentivize and retain employees, with the board of directors believing that this plan will provide greater flexibility and effectiveness for the company's future development.