DJ EQS-News: [9911.HK] Newborn Town Inc. was Awarded as one of the 50 Most Innovative Companies in China 2020 by Fast Company
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 [1]
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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(END) Dow Jones Newswires
December 23, 2020 03:11 ET (08:11 GMT)
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