Newborn Town Inc. Announces Remarkable Profit Surge, Expanding Glo…

HONG KONG, March 6, 2024 /PRNewswire/ — Newborn Town Inc. (‘Newborn Town’; 9911. HK) released its positive profit alert for the year ended 31 December on 5 March. The company has continued its growth momentum and achieved a remarkable increase in major indicators.

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Strategic Growth in Social Networking

According to the announcement, Newborn Town’s profit growth has been achieved due to the progress made in the social networking business, especially in MENA and new social apps. The past year has witnessed continued rapid breakthroughs in major markets like MENA and remarkable progress in the scale-up and commercialization of ‘second-mover’ apps like SUGO and TopTop, enhancing Newborn Town’s overall businesses’ high-quality growth. MICO, YoHo, SUGO, and TopTop, the flagship apps under Newborn Town’s ‘pan-audience social networking business’, aim to meet global users’ diversified social demands. Most social apps in this segment have made rapid strides as they’ve evolved into top-notch platforms in emerging markets like MENA and SEA.

Expansion and Acquisitions

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Based on the localized capabilities accumulated in the long-term process of globalization, Newborn Town has fully implemented the ‘replication’ strategy, enhancing the rapid scale-up of new products in target markets while lowering operational costs and upgrading commercialization efficiency. For example, the companion-based social app SUGO showed a surge in revenue and profit in 2023, representing a triple YoY increase. Besides, it has been ranked among the top 30 Chinese non-game publishers in terms of overseas revenue released by data.ai many times. Newborn Town has also accelerated its exploration of the ‘diverse-audience social networking business’ and gained ground. In 2023, the company completed the acquisition of BlueCity and achieved profitability.

Innovations and Future Prospects

On 1 January 2024, Newborn Town officially unveiled the online community app HeeSay to over 70 countries and regions worldwide. It’s noteworthy that HeeSay has achieved sustained profitability since its closed beta test. Henceforth, the boundary of Newborn Town’s social networking business won a further expansion while its commercialization efficiency got continuous upgrades. Apart from the above-mentioned segment, Newborn Town’s innovative business has achieved breakthroughs in 2023. The flagship game, Alice’s Dream: Merge Island, witnessed a continued rise in monthly revenue, reaching over 8 million US dollars in the fourth quarter of 2023. Newborn Town will continue to increase its input and dig deep into vast opportunities in MENA while focusing on diverse-audience social networking and quality games to gain diversified and sustainable growth in the years to come. It’s reported that Newborn Town will hold the annual results announcement in Hong Kong on March 22, 2024.

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