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Newborn Town sees a Net Profit Growth of 28% to RMB 388 Million whilst the MENA Market Revenue surged by over 44% for the first half of 2024

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HONG KONG, Aug. 30, 2024 /PRNewswire/ — On August 29, Newborn Town (09911. HK) unveiled its interim results for the first half of 2024, demonstrating significant growth in various key operational indicators. The improvement was driven by its skyrocketing pan-audience social networking business and further expansion in the MENA market.

According to the announcement, Newborn Town reported a total revenue of RMB 2,272 million for the first half of 2024, marking a substantial 65% period-on-period increase. Net profit for the period reached RMB 388 million, up 28% period-on-period. Profit attributable to the Company’s owners was RMB 225 million, reflecting a 21% period-on-period rise. Adjusted EBITDA totaled RMB 448 million, demonstrating a 29% period-on-period increase.

The social networking business segment attained robust growth, achieving revenue of approximately RMB 2,070 million, marking a 67% growth period-on-period. Additionally, the innovative sector made significant progress, recording around RMB 202 million in revenue, reflecting a 54% period-on-period growth.

Notably, the Company’s long-term investment in the MENA region has been yielding positive feedback. The capability for “product replication “has been further strengthened, with new products represented by SUGO rapidly maturing, thus bringing fresh growth momentum to the Company.

As one of the major markets, the MENA market has consistently been the core focal point of the Company’s strategic implementation of localization strategy. Through years of in-depth regional operations, Newborn Town has built up a comprehensive regional organization, nurtured a local team of employees, and forged strong connections with local creators and partners.

The benefits brought about by Newborn Town’s localization efforts are becoming increasingly evident. For the first half of 2024, the MENA market contributed over 50% of the Company’s social networking business revenue, with the core products recording a 44% period-on-period increase.

The MENA region has also been the market for Newborn Town’s new business incubation. Products with high potential, such as TopTop and SUGO, have been successfully scaled up from inception as their business models were verified for global market expansion.

This August, Saudi Arabia’s Ministry of Investment granted Newborn Town a Regional Headquarters (RHQ) license, making it the world’s first social entertainment company to establish a regional headquarters in Saudi Arabia. This move further consolidates Newborn Town’s efforts in the MENA region.

Under the RHQ program, Newborn Town will aim to build a trustworthy enterprise in the MENA region through close connections with governments, active engagement in community development and charitable activities, serving the local populace and building an ecosystem.

While continuously widening the moat with its localization strength, Newborn Town has also achieved significant breakthroughs in product operation, starting to achieve the goal of replicating the popular apps that generate tens of millions of dollars in monthly revenue. After MICO, the companion-based social app SUGO has reached the target.

Newborn Town’s operation strategy, centered on cultivating the “Bushes” housing apps with diverse features, has been developed through a deep understanding of users’ specific social and entertainment needs. Under this strategy, Newborn Town’s strength in app operation has steadily advanced, alongside enhancements in the middle platform mechanism.

Moreover, the Company’s aggregated localized operation resources have hastened the emergence of hit apps by facilitating swift product launches, cost-effective trial and error testing, and highly efficient verification.

SUGO and TopTop, the new apps under Newborn Town, have both experienced explosive revenue growth. SUGO, for example, has achieved an over 250% period-on-period increase in revenue. In July, SUGO contributed the majority revenue to Newborn Town among the apps.

TopTop, the social gaming platform with a double period-on-period revenue increase in the first half, was featured as a recommendation on the Apple App Store in May, reaching users across dozens of countries and regions, including Saudi Arabia, the United Arab Emirates, and Oman.

The first-mover products, such as MICO and YoHo, have also made significant strides. MICO, TopTop, SUGO, and YoHo all ranked on Sensor Tower’s Top 10 highest-grossing social apps in MENA from January to May 2024.

According to the announcement, the Company will persist in its pursuit of creating successful products in increasingly specialized niches and duplicating more apps that yield monthly revenues in the tens of millions of US dollars.

Beyond its pan-audience social networking business achievements, Newborn Town’s other business segments have also seen notable progress.

HeeSay, the LGBTQ+ online community, has strengthened its global brand presence through more refined in-app operations. Since early this year, this platform has launched a series of offline events in Bangkok, Ho Chi Minh City, Los Angeles, etc., fostering a stronger sense of community among users. These efforts have contributed to an increase in business scale of approximately 25%.

In addition, the Company has continued investment in developing quality games. In the first half of 2024, Newborn Town’s quality games achieved a recharge of RMB 387 million, up 393% period-on-period. Its flagship title, Alice’s Dream: Merge Games, secured a spot among Sensor Tower’s top 30 Chinese mobile games in overseas revenue for May and June.

Overall, Newborn Town has made significant strides across key markets and various business segments in the first half of 2024. The Company has reinforced the validity of its business models in the social sector, bolstering the competitiveness of its new products and injecting new growth catalysts.

Moving forward, Newborn Town aims to delve deeper into the social entertainment realm, gaining a foothold in MENA and expanding globally to create positive emotional values.

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SOURCE Newborn Town

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Huawei Cloud in France: Building an AI-Native Cloud to Amplify Intelligence on the Tech Stage

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November 14, 2024

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PARIS, Nov. 14, 2024 /PRNewswire/ — HUAWEI CONNECT 2024 PARIS commenced today, featuring the first Huawei Cloud Summit France. Huawei Cloud is building an AI-native cloud through systematic innovation and service reshaping. Moving forward, Huawei Cloud will continue to drive innovation in both the “AI for Cloud” and “Cloud for AI” directions, accelerating the intelligent transformation across industries in France.

Jacqueline Shi, President of Huawei Cloud Global Marketing and Sales Service, delivered a welcome speech in her digital presence built using Huawei Cloud MetaStudio. She stated, “Innovation is the heart of our success, our competitiveness, and our growth. That’s why we invest heavily in R&D to bring you the most secure and reliable cloud services possible, including cloud native, AI, and big data. In Europe, Huawei Cloud has collaborated with over 500 local partners to deliver a wide range of industry-specific solutions and proven expertise, enabling European businesses to expedite their cloud adoption, leverage global resources, and achieve leapfrog growth.”

In his keynote speech, William Dong, President of Huawei Cloud Marketing, highlighted the importance of AI in building economic moats. To this end, Huawei Cloud launches Pangu models to enable intelligent upgrades across industries, with over 400 use cases in 30 industries now benefiting from Huawei Cloud’s AI-native cloud infrastructure that extends cutting-edge technologies and premium experiences to European customers. On the tech stage, Huawei Cloud is set to amplify intelligence.

Huawei Cloud’s AI-native strategy has been a cornerstone of the company’s innovation. This strategy is twofold: AI for Cloud and Cloud for AI, marking significant advancements in Huawei Cloud’s capabilities. “AI for Cloud” means integrating Pangu models with cloud services for product R&D, data governance, security, and O&M to make them more intelligent and efficient.

With full-stack systemic innovations, “Cloud for AI” covers data centers, cloud platform architectures, and infrastructure services, enabling efficient and high-performance data preparation, training, inference, and application of foundation models. The distributed cloud database GaussDB features high performance, high intelligence, and easy migration. Huawei Cloud Stack 8.5 provides more than 120 locally deployed cloud services and 50 industry-specific solutions, building the optimal hybrid cloud for intelligent transformation.

At this summit, Huawei Cloud officially released the Flexus cloud services for small- and medium-sized enterprises (SMEs) in France. Flexus feature flexible specifications, AI-driven high speed, 6x burst speed, compute hot upgrade, and ultimate experience.

Presently, Huawei Cloud has more than 500 customers, partners, and developers in France. Song Wanying, President of Huawei Cloud France, shared insights on fostering business growth through cloud innovation and introduced new media & entertainment, e-commerce, and retail solutions for the French market, furthering intelligent initiatives.

Huawei Cloud has upgraded media services in a 3E approach: efficiency, experience, and evolution. For instance, AIGC for virtual humans can significantly reduce the time required for short video production from days to mere minutes. In terms of experience, Huawei Cloud leverages its self-developed RTP protocol to minimize latency to 500 ms and reduce frame freezing to 10%. For business model evolution, Huawei Cloud offers virtual human technology to facilitate efficient video production, leading to new business opportunities and growth.

In retail and e-commerce, Huawei Cloud has developed the B.R.A.N.D. model to assist retailers in driving innovation and growth. Through professional services, deterministic operations, security, reliability, and 16 sub-scenario solutions, B.R.A.N.D. enables retailers to build agile, efficient, and secure business systems.

In terms of ecosystem expansion, Huawei Cloud has partnered with Station F, the world’s largest startup incubator, to launch a sustainability-themed incubation program. This program aims to provide comprehensive support for startups, including cloud resources, investment opportunities, and dedicated office spaces. Additionally, Huawei Cloud and 20 ecosystem partners have unveiled the Industry Partner Innovation Program at the summit.

This two-day event features a packed agenda, including the partner forum and the Cloud Native Elite Club (CNEC) roundtable. At this year’s HUAWEI CONNECT Europe, CNEC returned to Europe and invited its first members to join this technical community built for European technology pioneers.

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ALBERT GAHFI, NEWCO CAPITAL GROUP CEO, NOMINATED FOR THE U.S. FINTECH AWARDS’ INNOVATOR OF THE YEAR

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November 14, 2024

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NEW YORK, Nov. 14, 2024 /PRNewswire/ — NewCo Capital Group is proud to announce that Albert Gahfi, CEO of NewCo Capital Group and Co-Founder and Director of Bizcap, has been nominated for the prestigious Innovator of the Year Award by the U.S. FinTech Awards. This recognition highlights Albert’s groundbreaking contributions to the FinTech sector and his dedication to founding companies that empower small businesses with forward-thinking capital solutions.

We are focused on what’s next—continuing to build the tools and services that will drive the future of FinTech

As a proven enterprise-building founder and CEO, Albert co-founded Kings Cash Group and oversaw its merger with a large FinTech consortium that included an SEC-registered fund. As the Co-Founder and CEO of NewCo Capital Group, Capytal.com, and NewCo Canada, as well as the co-founder of Melbourne-based BizCap, Albert’s global expansion strategy has led to the opening of offices in New Zealand, the United Kingdom, and a recently announced strategic initiative in Asia via Singapore.

The nomination for Innovator of the Year underscores NewCo’s commitment to reshaping how small-to-medium businesses and enterprise companies access financing. Since its founding, NewCo has remained at the forefront of Specialty Finance within the FinTech sector, continually creating custom capital solutions that leverage advanced technology, nuanced underwriting, and a deep understanding of client needs.

Bruce Gurvitsch, Chief Revenue Officer for NewCo Capital Group and Capytal.com, commended the nomination, stating, “Albert’s nomination for Innovator of the Year reflects his unwavering pursuit of excellence—a drive that defines our mission at NewCo. We’re committed to pushing the boundaries of what’s possible in FinTech, ensuring that SMBs have access to the capital they need for growth, job creation, and long-term success.”

NewCo and its affiliate companies have transformed traditional financing models, making it easier, faster, and more efficient for businesses to secure funding. With over $1.8 billion deployed across 40,000+ businesses globally, NewCo continues to lead the charge in specialized financing and working capital.

Reflecting on the nomination, Gahfi remarked, ‘This recognition from the U.S. FinTech Awards validates our efforts and inspires us to continue delivering the most innovative solutions to the market.’ He emphasized NewCo’s long-term vision, adding, ‘We are focused on what’s next—continuing to build the tools and services that will drive the future of FinTech. Our mission has always been to empower small businesses globally.’

For more information about NewCo Capital Group, visit www.NewCoCapitalGroup.com or email Info@NewCoCapitalGroup.com.

About NewCo Capital Group & Capytal.com

Founded in 2020, NewCo Capital Group and its affiliate companies empower SMBs globally with fast, accessible financing and funding. The companies have successfully deployed $1.8 billion to over 40,000 SMBs while maintaining a 4.9/5 Trustpilot rating.

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SOURCE NewCo Capital Group

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Enrollsy Unveils Brand Refresh and New Website to Enhance Enrollment Experience for Schools, Camps, Nonprofits, and More

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November 14, 2024

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LEHI, Utah, Nov. 14, 2024 /PRNewswire/ — Enrollsy, the platform dedicated to making enrollment simple and accessible for organizations of all sizes, is thrilled to announce its brand refresh and launch of a new website at www.enrollsy.com. With a renewed focus on simplifying enrollment processes and delivering unparalleled support, Enrollsy’s brand refresh reinforces its commitment to empowering non-technical professionals with a seamless, user-friendly experience.

Enrollsy is online enrollment software made easy.

The name “Enrollsy” reflects the platform’s mission: combining “enroll” and “easy” to describe a solution that effortlessly manages the enrollment process—from sign-up to payments and communications—without requiring technical expertise or IT support. Enrollsy’s customizable platform is designed to solve enrollment challenges and make life easier for administrators everywhere.

Empowering Purpose, Mission, Vision, and Values

Driven by a purpose to create an exceptional experience from the first interaction to ongoing support, Enrollsy ensures every aspect of its service is tailored to customer needs. Enrollsy’s mission—to provide an amazing enrollment experience to 10 million people in a single year—drives the platform to innovate, simplify, and perfect enrollment solutions for organizations managing data, payments, and communications.

Enrollsy envisions a world where education, enrichment, and connection drive better outcomes, helping organizations fulfill their missions. As a trusted partner, Enrollsy shares its values with customers by prioritizing consistency, honoring commitments, and maintaining clear, actionable communication.

Unmatched Customer Experiences

Enrollsy’s brand refresh also highlights its commitment to delivering value through real-life customer success stories. Elizabeth Fizer, owner of Fizer Fine Art, shares, “Enrollsy transformed our registration process from an absolute nightmare to easily manageable. Their unmatched customer service and ability to tailor the software to meet our specific needs allowed us to offer flexible schedules and simplified invoicing—enabling me to focus on my family during a busy registration period. Parents found it easy and intuitive, which only enhanced our customer experience.”

Similarly, Matthew Vinson from Common Ground on the Hill, a nonprofit, noted, “Enrollsy exceeded our expectations by listening to our unique needs and creating a system that integrates with our existing applications seamlessly. They understood our operations and provided features we needed, making the registration process efficient and stress-free.”

Visit the New Enrollsy Website

Enrollsy’s reimagined website offers a refreshed look at how the platform simplifies enrollment, billing, and communication for education, enrichment, and nonprofit organizations across the U.S., Australia, and Canada. Visitors are invited to explore www.enrollsy.com to discover how Enrollsy’s solutions are transforming the enrollment experience and simplifying administrative processes.

About Enrollsy Enrollsy provides a complete, easy-to-use solution for managing enrollments, payments, and participant communications. Designed for non-technical professionals, Enrollsy’s mission is to simplify enrollment for organizations while delivering unmatched support and flexibility. Visit www.enrollsy.com to learn more about how Enrollsy is shaping the future of enrollment.

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SOURCE Enrollsy, Inc.

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