HONG KONG, Aug. 15, 2024 /PRNewswire/ -- Newborn Town released its positive profit alert for the first half of 2024 on August 15th. The company reported substantial revenue growth and sustained profit increases, driven by the smooth progress of various business segments and the continued release of market momentum in the MENA region.
For the six months ending June 30th, 2024, the company's total revenue was estimated to be approximately RMB2,247 million to RMB2,297 million, reflecting a year-over-year growth of about 63.4% to 67.1%. Net profit was expected to range between RMB365 million to RMB400 million, representing an increase of 20.9% to 32.5% year-over-year.
Profit attributable to the owners was estimated to range between RMB205 million to RMB240 million, showing an increase of 10.8% to 29.7%. Adjusted EBITDA is estimated to range between RMB430 million to RMB460 million, up 23.9% to 32.6% year-over-year.
In the first half of 2024, the company continued developing its pan-audience social networking business. The first-mover products, MICO and YoHo, experienced steady growth, consistently contributing to cash flow and profits. TopTop and SUGO, as the second-mover products, also proliferated with their revenue shares continuously increasing.
Meanwhile, Newborn Town has continued to expand its scale in the MENA region. Since entering this market in 2017, the company has been nurturing a robust business ecosystem, consequently establishing a strong entry barrier supported by localization strengths.
According to Sensor Tower's revenue rankings of social apps in the MENA region from January to May 2024, MICO, YoHo, TopTop and SUGO ranked in the top 10 within their respective niche categories.
In recent years, products like TopTop and SUGO have tapped into the MENA market to validate the business model. Embarking from concept to execution, the products advanced successfully, leveraging market experience to expand into the global markets, resulting in rapid growth.
Benefiting from the improved product quality, TopTop was featured on the official Apple App Store in May, reaching users in dozens of countries and regions through recommendations, including Saudi Arabia, the UAE, Qatar, and Oman.
Newborn Town leveraged refined operations in its diverse-audience social networking segment to strengthen its brand impact in key markets. Since 2024, the LGBTQ+ community platform HeeSay has launched a series of offline events in Bangkok, Ho Chi Minh City, Tokyo, and Los Angeles.
By combining online and offline social interaction experiences, HeeSay has fostered a more profound sense of belonging and recognition among its users.
The company also remains committed to supporting its innovative business while making steady strides in the social networking segment. In the first half of 2024, the quality games achieved remarkable results, generating RMB 387 million of recharge.
The flagship game, Alice's Dream: Merge Games, has entered the charts published by Sensor Tower, being one of the top 30 Chinese mobile games by overseas revenue for two straight months in May and June. Another quality game, Taylor's Secret, is emerging as a strong contender in the mobile game market and is beginning to show promise.
Moving forward, Newborn Town will leverage its localization capabilities to amplify its advantages in the MENA market's pan-audience social networking business. It will also continue to replicate more multi-million-dollar monthly revenue products.
Simultaneously, the company will actively pursue growth in the diverse-audience social networking sector and quality games, aiming to serve a broader global user base and achieve diversified and sustainable progress.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Newborn Town Issues Positive Profit Alert for H1 2024: Net Profit Expected to Increase by Over 20%
KOTA KINABALU, Malaysia, Sept. 21, 2024 /PRNewswire/ -- European Wellness, a global leader in regenerative medicine and integrated healthcare, has inaugurated its latest and most advanced facility, the European Wellness New Premier Center, in Kota Kinabalu, Sabah. This landmark 60,000 square-foot center represents a significant leap forward for healthcare in Sabah and is set to play a crucial role in the global medical wellness tourism sector.
The grand opening ceremony was a notable event, attracting international attention and high-profile attendees. Sabah's Chief Minister YAB Datuk Seri Panglima Haji Hajiji Bin Haji Noor, Sabah State Minister of Finance, YB Datuk Seri Panglima Haji Masidi Manjun, Advisor to the President of the UAE, H.E. Dr. Khalid Abdulla Mubarak Albuainain Almazrouie, and other dignitaries were present to witness the unveiling of this cutting-edge facility. The center, a major investment by EW's founders, Prof. Dato' Sri Dr. Mike Chan and Prof. Dato' Sri Dr. Michelle Wong, is designed to integrate advanced medical science with the healing power of Sabah's natural environment, setting a new benchmark in global healthcare.
Chief Minister Hajiji praised the vision and commitment of the founders, emphasizing how the center will enhance Sabah's healthcare capabilities and position the region as a prominent destination for medical wellness tourism. "This facility is a game-changer for Sabah, combining state-of-the-art medical science with our unique natural environment," said Hajiji. "It not only strengthens our local healthcare sector but also boosts Sabah's standing on the global medical tourism map."
The center's opening is a strategic move that aligns with Sabah's broader goals of becoming a leading hub for advanced healthcare and medical wellness tourism. Sabah's strategic location in Southeast Asia, as part of the BIMP-EAGA and ASEAN regions, provides a significant advantage in attracting international investment and talent. "We are positioning Sabah at the forefront of the global health and wellness revolution," Hajiji added. "This investment reflects our commitment to enhancing life quality and fostering international collaboration in medical innovation."
Dr. Khalid Abdulla Mubarak highlighted the international significance of the European Wellness New Premier Center. "The advancements showcased here are truly groundbreaking," Dr. Khalid remarked. "Prof. Chan's work in targeted organ-specific stem cell therapy represents the future of healthcare set to revolutionize regenerative medicine and significantly improve healthcare outcomes globally."
Dr. Khalid emphasized the importance of making such advanced treatments more accessible. "Currently, stem cell therapy is costly and limited in availability. Expanding access and reducing costs are crucial steps in making these life-changing treatments available to a broader population," he noted. He also recognized Sabah's potential as a global medical wellness tourism destination, praising the combination of high-quality medical facilities and the region's natural beauty.
The center will offer an extensive range of services, including over 60 advanced regenerative medicine and holistic wellness therapies. It features cutting-edge technology and a team of over 300 professionals dedicated to delivering personalized healthcare solutions. This new facility is part of a larger expansion plan that includes the establishment of a biopharmaceutical manufacturing facility in Kota Kinabalu Industrial Park, with an investment of USD 80 million, doubling the workforce and further enhancing Sabah's status in the global healthcare landscape.
The European Wellness New Premier Center stands as a testament to international collaboration and innovation in healthcare. It not only aims to transform healthcare in Sabah but also to set new standards for medical wellness worldwide. EW's dedication to healthcare advancements positions it to transform global medical wellness tourism, ushering in a new health era for Sabah and beyond.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
European Wellness Unveils Premier Medical Wellness Center in Kota Kinabalu, Sabah: A Landmark in Global Healthcare
European Wellness Unveils Premier Medical Wellness Center in Kota Kinabalu, Sabah: A Landmark in Global Healthcare
European Wellness Unveils Premier Medical Wellness Center in Kota Kinabalu, Sabah: A Landmark in Global Healthcare
