News: NEWBORNTOWN's revenue in the first quarter increased by over 30%
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Social media platform operator NEWBORNTOWN announced on Wednesday that its revenue in the first quarter grew by over 30%, with expected revenue reaching between 2.03 billion and 2.13 billion yuan, a year-on-year increase of 33% to 39.6%. Revenue from its core social networking business is expected to be between 1.79 billion and 1.89 billion yuan, a year-on-year increase of 31.3% to 37.2%. As of the end of March, the cumulative downloads of the social application reached 1.02 billion, with an average monthly active user count of 35.9 million. Despite a 0.4% drop in stock price, the cumulative increase over the past 52 weeks is nearly 60%
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