NEWBORNTOWN (09911) announced a joyful profit forecast, expecting annual net profit to be approximately 7.7 billion to 8.1 billion yuan, representing a year-on-year growth of around 1.2% to 6.4%.

NEWBORNTOWN (09911) announcement, based on the preliminary review of the unaudited consolidated financial statements of the Group for the year ended December 31, 2024, and the available information at present, it is expected that: For the year ended December 31, 2024, the total revenue of the Group is estimated to be approximately RMB 5 billion to RMB 5.2 billion, an increase of about 51.1% to 57.2% compared to the same period in 2023. The expected growth is mainly attributed to the rapid growth of diverse social products driven by AI technology, as well as the inclusion of the financial statements of Blue City Brothers Holdings Limited and Land of Glory Ltd. in the Group's consolidated financial statements in the third quarter of 2023. For the year ended December 31, 2024, the net profit of the Group is estimated to be approximately RMB 770 million to RMB 810 million, an increase of about 1.2% to 6.4% compared to the same period in 2023. The profit attributable to owners of the company is expected to be approximately RMB 460 million to RMB 500 million, a decrease of about 10.3% to 2.5% compared to the same period in 2023. After excluding the one-time investment income of approximately RMB 160 million contributed by the acquisition of Chizicheng Strategy Investment Limited in the third quarter of 2023, the net profit of the Group for the year ended December 31, 2024 is expected to increase by about 27.9% to 34.6% compared to the same period in 2023, and the profit attributable to owners of the company is expected to increase by about 29.9% to 41.2%. The expected growth is mainly attributed to the continued rapid growth of diverse social products driven by AI technology, as well as the inclusion of the financial statements of Blue City Brothers Holdings Limited and Land of Glory Ltd. in the Group's consolidated financial statements in the third quarter of 2023. For the year ended December 31, 2024, the adjusted EBITDA of the Group is estimated to be approximately RMB 950 million to RMB 990 million, an increase of about 40.7% to 46.7% compared to the same period in 2023. The expected growth is mainly attributed to the rapid growth of diverse social products driven by AI technology, as well as the inclusion of the financial statements of Blue City Brothers Holdings Limited and Land of Glory Ltd. in the Group's consolidated financial statements in the third quarter of 2023.