Market Insight

2024.04.25 10:47

Market News NEWBORNTOWN (09911) Q1 social networking revenue up 65%-70%

(Infocast News) NEWBORNTOWN (09911) announced that the volume of accumulative downloads of the Group’s social networking business reached 650 million as of 31 March 2024, representing an increase of 5.9% as compared to that of 31 December 2023; the average monthly active users of the Group’s social networking business amounted to 28.548 million for the three months ended 31 March 2024, representing an increase of 2.6% over the preceding quarter; and the revenue from social networking business of the Group is expected to reach RMB980 million to RMB1,010 million for the three months ended 31 March 2024, representing an increase of 65.8% to 70.9% as compared to that of the corresponding period in 2023. (WL)

Data Source：INF