The Zhitong Finance App learned that Huiliang Technology (01860) rose more than 16% in the intraday period. As of press release, it had risen 13.01% to HK$3.3, with a turnover of HK$13.4067 million.

According to the news, on May 16, Huiliang Technology announced its first quarter results. The report shows that revenue during the period was US$301 million, up 23.3% year on year and 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. Among them, revenue from programmatic advertising platform Mintegral was US$284 million, up 25.4% year over year. It is worth mentioning that since turning losses into profits in the fourth quarter of 2022, Huiliang Technology has achieved profits for six consecutive quarters, and revenue and profit reached record highs in the first quarter of 2024.

Anxin International released a research report saying that thanks to the company's infrastructure upgrades and continuous investment in research and development, Mintegral's smart bidding products have also been further verified by the market, and ROAS's intelligent bidding model has become the mainstream choice for developers. Revenue from Q1 smart bidding products accounts for more than 60% of Mintegral's revenue, which is the main driving force for growth. 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 margins 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.