HONG KONG, April 24, 2024 /PRNewswire/ — Newborn Town Inc. (“Newborn Town”; 9911. HK) revealed its unaudited operating data for Q1 2024 on April 24.
This tech company’s social networking arm soared with a revenue increase of around 65.8% to 70.9%, reaching RMB 980 million to RMB 1,010 million. Additionally, its innovative business showed year-on-year growth, rising by 3.3% to 20.0% in revenue, amounting to RMB 62 million to RMB 72 million.
Newborn Town’s growth in the social networking sector has gained momentum, fueled by the continued scale-up of its latecomer apps in strategic markets like MENA, alongside the pioneering exploration of LGBTQ+ social business.
Having entrenched itself in MENA markets for years, Newborn Town has deeply dived into the region’s social networking and entertainment needs, providing a wide range of quality services via its diverse app portfolio…
