HK Stock Market Move | NEWBORNTOWN(09911) rose nearly 6% AI-driven innovative business growth company short plays officially entered Seedance 2.0

NEWBORNTOWN (09911) rose nearly 6%, up 3.9% by press time, at a price of 10.92 Hong Kong dollars with a turnover of 161 million Hong Kong dollars. On the news front, on April 22, NEWBORNTOWN released unaudited operating data for the first quarter. Among them, the revenue from innovative business is about 2.45-2.65 billion yuan, with a year-on-year growth of about 46.7%-58.7%, showing strong development momentum. The announcement showed that the high growth of the innovative business is mainly due to the rapid growth of the short drama business actively invested by the company under the drive of AI. Recently, with outstanding content capabilities, in-depth understanding of overseas markets, and extensive global user reach capabilities, the company's short drama business officially accessed Seedance 2.0, becoming one of the first batch of cooperative platforms. At the same time, through joint operations with platforms such as TikTok, the global impact of the company's short drama content is further enhanced. CICC pointed out that the high growth of the company's innovative business is mainly benefited from the rapid growth of the short drama business. According to Sensor Tower data, the MAU of the company's short drama platform continued to grow in triple digits from January to March, with continuous contribution from markets such as North America, Australia, and Europe. In addition, the AI application Aippy has rapidly expanded its user base since the beginning of the year. It is optimistic about the company's continued investment in AI and short dramas, which is expected to become an important source of incremental growth for the whole year.