Mobile app developer Newborn Town jumps most in 4-1/2 months on robust H1 outlook

Newborn Town

03/08/2022 04:34

** Shares of Newborn Town Inc  9911.HK , a Chinese
live-broadcast services provider and mobile app developer, rise
as much as 9.1% to HK$2.40, the biggest intraday pct gain since
March 16 
    ** Stock on track for a second session of gains
    ** The Beijing-based co expects its H1 net profit to jump
103%-157% year-on-year to 75 mln-95 mln yuan ($11.11 mln-$14.07
mln) due to reduction in losses from innovative business
 urn:newsml:reuters.com:*:nFWN2ZE1YV
    ** Expects its H1 total revenue to jump over 30% to 1.4 bln
yuan from a year-ago period as social networking business grows
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.9% and the Hang Seng sub-index on information technology firms
 .HSCIIT  rises 1.6%
    ** The Hang Seng Composite Index  .HSCI  and the benchmark
Hang Seng Index  .HSI  climb 0.2% each
    ** As of last close, Newborn Town stock down 40.5% this year
    ($1 = 6.7522 Chinese yuan)

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