Newborn Town Achieved a Substantial Increase in 2024 Revenue to RMB 5.09 Billion as AI Boosts Its Social Entertainment Apps
HONG KONG, March 20, 2025 /PRNewswire/ -- On March 20th, Newborn Town unveiled its annual results for the year ended December 31st, 2024. Benefiting from the AI empowerment of social and entertainment products, the company experienced remarkable growth in both revenue and profit. According to the announcement, Newborn Town reported a total revenue of RMB 5,092 million in 2024, marking a 53.9% year-over-year increase. Net profit for the year reached RMB 788 million, while adjusted EBITDA totaled at RMB 963 million, demonstrating a 42.8% year-over-year increase.
The company's social networking business reached revenue of RMB 4,632 million, marking a 58.1% growth year-over-year. TopTop and SUGO, the social products with second-mover advantages, witnessed substantial expansion particularly in the MENA region. Additionally, the innovative business, which included quality games and social e-commerce segment, also performed impressively, contributing RMB 460 million in revenue, a growth of 21.3% YoY.
Sustained Growth Achieved in Social Networking Business as MENA's Revenue Growth Rate Exceeds 60%
Newborn Town's strategy of developing a 'bush-like' portfolio of social apps has accelerated its growth in 2024, fueled by the company's product innovation, localiz