Shares of Newborn Town hits over 3-month peak on robust outlook

Newborn Town

06/03/2024 03:32

** Shares of mobile marketing and live streaming services
provider Newborn Town Inc  9911.HK  jump as much as 25.6% to
HK$2.21, their highest since Nov 29 
    ** Stock posts biggest intraday pct rise since March 2022,
and is sixth-biggest pct gainer on the Hong Kong bourse
    ** Co estimates its 2023 net profit to jump 161%-182% YoY to
750-810 mln yuan ($104.2-$112.5 mln) with totel revenue up
17%-22% as it expands market in the Middle East, North Africa
and other regions
    ** Hang Seng Tech Index  .HSTECH  surges 2.6%, Hang Seng
China Enterprises Index  .HSCE  climbs 1.7%, and Hang Seng Index
 .HSI  gains 1.4%
    ** Newborn Town stock up 10.8% YTD 

   ($1 = 7.1989 Chinese yuan)

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