Newborn Town(SEHK:9911)included in the FTSE Russell Global Stock Index Series, expecting more global funds
[23 September 2024 - Hong Kong] Newborn Town Inc., a leading global social-networking company ('Newborn Town' or Company, Stock Code: SEHK 9911), is pleased to announce that it has been included in two indices of the FTSE Russell Global Stock Index Series, namely the FTSE All-Cap (LMS) and the FTSE Global Small Cap indices, which officially took effect today.
According to the latest semi-annual FTSE Global Equity Index Series (FTSE GEIS) review report, FTSE Russell disclosed the adjustments to the constituents of the China regional index (GEIS China). Newborn Town has been included in two FTSE indices in this adjustment. The inclusion is expected to further enhance the company's visibility and influence in the international capital markets and attract global funds tracking these indices for stock purchases.
FTSE Russell is the world's second-largest index provider, with its index products covering over 70 countries and regions, totaling about US$20 trillion in assets benchmarked against its index products. The FTSE Global Stock Index Series includes more than 19,000 stocks from 49 developed and emerging markets worldwide, making it one of the most authoritative global stock indexes.
Companies included in the FTSE GEIS index must demonstrate outstanding performance in listing compliance, profitability, corporate governance, high liquidity, and growth potential. The FTSE indices are crucial references for global investors, and index adjustments often attract significant passive funds from overseas. The inclusion of many companies in the FTSE indices has been viewed positively, as it is believed to attract increased foreign investment and is often considered a positive signal for stock prices.
Looking at past index constituent changes, market capitalization is one of the core factors for adjustments, particularly the phased stock price performance. In this adjustment, the stocks newly included have generally shown significant gains this year. Newborn Town has achieved a 42.78% increase in stock price from the beginning of the year.
In the first half of 2024, Newborn Town reported a total revenue of RMB 2.27 billion, representing a year-on-year growth of approximately 65%; a net profit of RMB 388 million, indicating a 28% year-on-year increase; and an adjusted EBITDA of RMB 448 million, showing a 29% year-on-year growth. In recent years, the company has consistently achieved success in the Middle East and North Africa (MENA) region, with the core social products of the company experiencing a year-on-year revenue increase of approximately 44% in the first half of the year.
Over the past two years, global investors have paid greater attention to the MENA market, which has significant potential. While Newborn Town has been profoundly cultivating the MENA market for many years, it is one of the few companies with profound localization capabilities. With the strong growth of the company's business and the increasing international capital focus, the long-term investment value of Newborn Town is expected to manifest further.
About Newborn Town Newborn Town has grown into a leading technology company which was listed on the Main Board of the Hong Kong Stock Exchange (HKEX) in 2019 under the stock code 9911.Committed to creating positive emotional values worldwide, Newborn Town has developed a diverse portfolio of applications in the social networking and entertainment sectors. Its social apps include MICO, YoHo, TopTop, SUGO and HeeSay, together with gaming products like Alice's Dream: Merge Games. These applications have achieved widespread acclaim, reaching over one billion users in over one hundred countries and regions.Newborn Town considers the Middle East and North Africa (MENA) region a key market and has also extended its influence in Southeast Asia, Europe, the United States, Japan, and South Korea. The company aims to become the world's largest social entertainment company.
For enquiries, please contact DLK Advisory pr@dlkadvisory.com
File: Newborn Town (SEHK 9911) included in the FTSE Russell Global Stock Index Series, expecting more global funds. 23/09/2024 Dissemination of a Financial Press Release, transmitted by EQS News. |
