China apps developer Newborn Town rises most in 11 weeks on upbeat outlook

Newborn Town

09/07/2021 06:22

** Shares of Chinese mobile application developer and mobile
advertising platform operator Newborn Town Inc  9911.HK  surge
10.4% to HK$6.80, on course for best day since April 22 
    ** Stock hits the highest since July 2
    ** Beijing, China-based company expects its value-added
service business revenue to reach up to 840 mln yuan ($129.5
mln) for the first half of 2021, an increase of over 50 times as
compared to a year ago period  urn:newsml:reuters.com:*:nFWN2OK11H
    ** Expects traffic monetisation business revenue to hit 225
mln yuan in H1, up over 50% from a year ago period
    ** Says average monthly active users of its social
networking apps amounted to 18.23 mln in Q2, up 10% from Q1 
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  rises 1.4%, and the Hang Seng Tech
Index  .HSTECH  gains 0.8%
    ** The Hang Seng China Enterprises Index  .HSCE  climbs 0.3%
and the benchmark index  .HSI  is up 0.7%
    ** The stock had soared 248% this year as of last close 

($1 = 6.4852 Chinese yuan)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))