Newborn Town Inc. listed on Main Board of HKEX
HONG KONG, Jan. 3, 2020 /PRNewswire/ -- New Born Town Inc. ("Newborn Town") (HKEX: 9911) has officially listed on the Main Board of the Hong Kong Exchanges and Clearing Limited (HKEX) on Tuesday (Dec. 31, 2019).
Shares of Newborn Town were traded on the first day of listing, with an intraday high of HK$3.87 each and closed at HK$3.25, representing an increase of approximately 93.45% from the offer price of HK$1.68. Total trading volume was around 268 million shares on the day, representing an aggregate turnover of HK$915 million or so.
Previously, Newborn Town IPO received orders worth HK$ 34 billion, ranking No.3 for the year. It was oversubscribed by 1441.83 times for private investors, breaking the record of 752 times held by Ascentage Phama, securing the highest among Hong Kong listings in 2019.
As one of the first Chinese Internet companies to embark on overseas market since 2013, up to now, Newborn Town has launched Solo X product portfolio to C end, Solo Math programmatic advertising platform to B end. AI engine Solo Aware works as the fundamental structure to drive the two business synergy, leading to precise connection between human and information.
Up to 30 June 2019, Solo X covering user system, fitness, media&entertainment and game applications had accumulated 797 million global users from over 200 countries and regions. Equipped with cutting-edge technologies in digital advertising, Solo Math provided efficient monetization service for more than 1.29 million publishers in the first half of 2019.
From 2016 to 2018, our revenue increased from CNY 137 million to CNY 277 million with a CAGR of 42.2%.
In the first half of 2019, we generated overall revenues of 184 million yuan, gross profit of CNY 123 million, adjusted net profit CNY 62.54 million with YOY growths of 58.0%, 118.0% and 88.3% respectively.
Statistics shows that the industry Newborn Town engaged in has growing potentials.
According to iResearch Report, the scale of the global mobile apps market, including the advertising revenue and in-app purchase revenue is estimated to continue growing at a CAGR of 20.7% from 2018 to 2023, and reach US$ 935.2 billion in 2023. As for the total advertising expenditure in China's mobile advertising overseas market is expected to reach US$35.8 billion in 2023, growing at a CAGR of 26.9% from 2018 to 2023.
Taking the listing as an opportunity, Newborn Town plans to use 41.1% of the capital raised to upgrade Solo X product matrix, 34.6% to improve Solo Math programmatic advertising platform and 17.0% to enhance big data and AI abilities of Solo Aware AI engine.
SOURCE Newborn Town Inc.