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EQS-News: [9911.HK] Newborn Town Inc. was Awarded as one of the 50 Most Innovative Companies in China 2020 by Fast Company
2020-12-23 16:11

EQS-News / 23/12/2020 / 16:11 UTC+8

Newborn Town Inc. was Awarded as one of the 50 Most Innovative Companies in China 2020 by Fast Company

 For the first time, Newborn Town Inc. (9911.HK) was on the list of "50 Most Innovative Companies in China 2020" by the world-renowned business media, Fast Company. On December 18, Fast Company announced the 50 most innovative companies in China out of thousands of companies, including Newborn Town, Bilibili, Unitree Robotics, Unilever U incubator and other well-known enterprises.

Fast Company is one of the three major global business medium. It has selected the Chinese companies with great ideas and strong visions since 2014. So far, 95% of the companies selected for the list have achieved a 10-fold increase in the market value on average, thereby making the list extremely valuable due to its great reference value in investment and international influence.

Fast Company recognized Newborn Town's rapid growth in business. In the ever-changing 2020, the media rated the companies based on their 'capability to achieve sustainable growth and development in good times while maintaining resilience and persistence in adversity, adapting to the environment as well as embracing changes and making improvement.' This year, Newborn Town advocated the innovative " traffic+" strategy with application of advanced AI technology and achieved outstanding performance in social networking and gaming applications market. The company announced earlier that the business developed very well in the first nine months of 2020, with more than 65 times increase in value-added service revenue (in-app purchase revenue) compared with the same period last year.

Being one of the Fast Company's "50 Most Innovative Companies in China 2020" is recognition of Newborn Town's innovative strategy, advanced AI technology, and leading edge internet products. It also indicates the company's future development potential. Newborn Town will consolidate the experience, make breakthroughs and strive to become the largest internet platform for overseas markets in China.

Social networking and gaming applications are the two major business focus of Newborn Town. In 2020, Newborn Town's core products, "MICO", social networking platform and "yiyo", the video social application have rapidly accumulated users and increased the influence in open social networks which are separated from the highly competitive closed social networks dominated by facebook and others. Regarding the gaming applications, Newborn Town launched "mid-core game" featuring sports competitions puzzle solving, and synthesis.

Commented by Fast Company," Newborn Town eyes on the overseas markets with a global perspective and builds its own ecosystem of tremendous mobile traffic based on  the leading AI technology. With the "traffic+" strategy, it is devoted to exploring the markets of social networking and gaming applications with continuous launch of high-quality mobile applications, thereby becoming one of the top Internet platforms targeting overseas markets with unique competitive edge."

File: 9911_Press release_20201223_EN

23/12/2020 Dissemination of a Financial Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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