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KUALA LUMPUR, Malaysia, Nov. 19, 2025 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global” or the “Company”) today announced that it has executed open-market repurchases of its common shares under the Company’s previously approved share repurchase authorization. The repurchases were carried out in accordance with applicable U.S. securities regulations and form part of VCI Global’s broader capital optimization and shareholder value strategy. VCI Global may continue to repurchase shares from time to time, subject to market conditions and other corporate considerations. “VCIG continues to strengthen its multi-sector platform spanning technology, cybersecurity, artificial intelligence, digital assets, financial services, and emerging industries. The share repurchases reflect our disciplined approach to capital management and long-term value creation,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global. The Company remains focused on expanding its presence across key high-growth sectors and advancing strategic initiatives that support sustainable performance. These share repurchases reaffirm VCI Global’s confidence in its long-term direction and its commitment to delivering lasting value to shareholders. About VCI Global Limited VCI Global Limited is a cross-sector platform builder at the forefront of technology and financial architecture. The Company focuses on developing and scaling platforms across artificial intelligence, encrypted data infrastructure, digital treasury systems, and next-generation capital market solutions. By integrating technology innovation with financial ecosystems, VCI Global enables enterprises, governments, and institutions to capture opportunities in the evolving digital economy. The Company’s strategy is centered on building scalable platforms that deliver resilience, efficiency, and long-term value across multiple high-growth sectors. For more information on the Company, please log on to https://v-capital.co/. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (“SEC”). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law. CONTACT INFORMATION: For media queries, please contact: VCI GLOBAL LIMITEDenquiries@v-capital.co
HONG KONG SAR - Media OutReach Newswire - 3 April 2025 - ZENCE OBJECT, a pioneering eco-materials company, has secured an additional strategic investment of over RMB10 million from AB Global Opportunities LPF, a fund under Hong Kong-listed AB Builders Group Limited (Stock Code: 1615.HK) and Gobi Partners. The deal was successfully closed at the end of last year. Notably, they signed a Memorandum of Understanding (MoU) focusing on the overseas expansion, R&D and marketing promotion of its flagship eco-materials project, CHAZENCE. ZENCE OBJECT, AB Builders Group and Gobi Partners signed a MoU focusing on overseas expansion. Accelerating global expansion with green materials solutions As part of the MoU, AB Builders Group has placed a RMB30 million purchase order with ZENCE OBJECT to drive innovation in green technology development. These three parties will work closely to penetrate international markets; AB Builders will integrate ZENCE OBJECT's eco-materials into large-scale infrastructure and construction projects, while Gobi Partners will provide strategic guidance and resources for global expansion. This collaboration strengthens ZENCE OBJECT's ability to scale operations in Asia, the United States, and other major international markets. The company is setting up overseas offices and teams to provide sustainable material solutions across industries. Over the past year, the company has actively participated in key initiatives such as the Hong Kong Science Park Accelerator Program, the US BOOSTER Program, and a series of international exhibitions in major markets, including Singapore. These efforts have strengthened the company's global reach and positioned it for further growth. Dedicated to addressing global waste and carbon emission challenges, ZENCE OBJECT continues to innovate in bio-based material technology, transforming waste into commercially viable, eco-friendly materials while integrating Eastern cultural aesthetics with cutting-edge design concepts. The company is particularly focused on construction and engineering applications, expanding its international business reach in this sector. This not only aligns with the Sustainable Development Goals (SDGs) and the National 14th Five-Year Plan but also leads the market toward a greener, healthier, and more sustainable future. (From left to right) Mr Henry Mio, Chief Financial Officer of AB Builders Group Ltd; Mr David Cheang, Executive Director of AB Builders Group Ltd; Ms Athena Lao, Chief Executive Officer and Executive Director of AB Builders Group Ltd; Ms Jessy Wang, Regional Partnerships and Channel Development Executive of HKSTP; Mr Fred Li, Managing Director of Gobi Partners; Mr Bob Lei, Chief Operating Officer and Co-founder of Zence Object; Mr David Chan, Chief Strategy Officer of Zence Object; and Mr. Kenneth Wong, Investment Manager of AB Builders Group Ltd attended the 2025 Macao International Environmental Co-operation Forum & Exhibition (MIECF). Empowering multiple industries with green innovation ZENCE OBJECT is pioneering the development of the "ZENCE ECOSYSTEM", a comprehensive waste upcycling platform that combines carbon data analytics, biotechnology, and industry-specific applications to advance circular economy solutions, providing carbon footprint assessment, carbon trading, and consulting services. This system has already been adopted across multiple industries, providing sustainable solutions to prominent clients, including MGM Macau, Galaxy Entertainment Group (GEG) and Andaz Macau and Four Seasons Hotel Macao in hospitality, TCL, CASIO in electronics, HEYTEA, Nayuki, CHAGEE and Starbucks in F&B, Macau Science Center in construction, and spaceflight industry, etc. With ongoing advancements in eco-materials, the company is expanding into the beauty and automotive sectors, driving sustainability in the Greater Bay Area and global markets. "CHAZENCE" offers "tea paper", "tea board", and "tea plastic", made from biodegradable waste like tea leaves, bamboo, bellflower, and Chinese herbs, providing sustainable alternatives to plastics, paper, and wood. The company is advancing green regenerative technology, fibre processing, and bio-based composites, promoting agricultural waste reuse. Recent breakthroughs in material transparency, durability, and eco-friendly production have enhanced efficiency and expanded applications across consumer goods, tech, construction, and hospitality, solidifying the company's leadership in sustainable materials innovation. Hashtag: #ZENCEOBJECT #CHAZENCEhttps://www.zenceobject.comhttps://www.linkedin.com/company/zenceobjectThe issuer is solely responsible for the content of this announcement.ZENCE OBJECT HOLDING (HONG KONG) LIMITEDZENCE OBJECT is a pioneering enterprise in the Greater Bay Area dedicated to addressing global waste and carbon emission challenges. Through advanced green regeneration technology, including bio-based purification, degradation, synthesis, and modification techniques, the company transforms waste into sustainable materials and develops the ZENCE ECOSYSTEM to provide low-carbon solutions across industries. The company has secured multiple rounds of funding and formed strategic partnerships with leading brands. Its smart factory has obtained ISCC PLUS certification for international sustainability and carbon verification and has collaborated with Sumitomo Group to establish China's first and only bio-based material molding R&D center. With a mission to leverage regenerative technology from the East, ZENCE OBJECT is committed to reshaping the future with sustainable innovations. For more details, please visit: www.zenceobject.com About Gobi PartnersGobi Partners is a leading Asia-focused venture capital firm with US$1.6 billion in assets under management (AUM), headquartered in Kuala Lumpur and Hong Kong. Founded in 2002, Gobi now has a network of 15 locations, raised 21 funds and invested in over 400 startups, with 62 companies focused on the circular economy. The firm supports entrepreneurs from early to growth stages, with a particular focus on emerging markets. As a UN Global Compact Participant, Gobi aligns its strategies with universal principles on human rights, labour, environment, and anti-corruption. In June 2024, the firm released its third sustainability report. For more details, please visit: https://gobi.vcAbout AB Global Opportunities LPFAB Global Opportunities LPF is an innovative investment fund registered under Hong Kong's Limited Partnership Fund Ordinance, focusing on high-growth global opportunities with a tax-efficient structure. Managed by Delphinium Capital Partners Ltd, a Hong Kong Securities and Futures Commission-licensed asset management firm, and a subsidiary of the Hong Kong-listed AB Builders Group Limited (Stock Code: 1615.HK), the fund primarily targets the renewable energy sector. Leveraging the group's expertise in infrastructure, real estate development and green technology, the fund provides comprehensive risk management, industry insights and access to global markets.
Leading Smart Home Innovator Signals Major U.S. Market Commitment with Nationwide Commercial Featuring Full Product Ecosystem, Including Nebula NEXT 01 Concept Electric Hypercar Los Angeles, Feb. 9th, 2026 — Dreame Technology, a leader in smart home innovation, today announced its most significant global media moment to date with a multi-million dollar nationwide television commercial premiering during Game Day on February 8th. “For nearly a decade, we've pushed the boundaries of smart home innovation—and now we're bringing that dedication directly to North American consumers," said Ana Wang, General Manager of Dreame Technology North America. "This commercial isn't just about visibility; it's a statement of commitment. We're investing in this market for the long term, continuing to innovate specifically for the needs of U.S. households as we build Dreame into a trusted household name.” Airing across NBC's local affiliate network and reaching millions of American households during one of television's most-watched nights, the spot highlights Dreame's comprehensive technology ecosystem, from award-winning robot vacuums, lawnmowers, and the Nebula NEXT 01 Concept electric hypercar, demonstrating the company’s multisector technology expansion. Showcasing the Complete Dreame Ecosystem Building on the brand’s momentum, where it took home more than 50 awards for its innovative products, the commercial will feature Dreame's comprehensive smart living ecosystem, including: Robot and Wet Dry Vacuums – At just 7.95cm tall, the X60 Max Ultra Complete is Dreame's thinnest robot vacuum, designed to clean under low furniture where traditional vacuums can't reach. Its AI-Enhanced OmniSight™ navigation and 35,000Pa suction power tackle dirt with precision, while dual flex arms and heated mopping ensure thorough edge and corner cleaning. Additionally, Dreame introduces the brand-new, ultra-slim Aero Pro wet dry vacuum. At just 3.88 inches thin, it delivers stronger 25,000Pa suction and is equipped with TangleCut™ 2.0 technology to effortlessly handle long hair and pet fur. The built-in hot-air self-cleaning system keeps the roller fresh and odor-free—clean, powerful, and truly next-gen. Personal Care – The versatile 7-in-1 Dreame AirStyle Pro hair styler, powered by JetAirflow™ Technology for fast drying, enables precise drying, curling, and straightening in a lightweight design with smart heat control for salon-quality results. Home Air Care — Built for homes with people and pets, the Dreame AP10 Air Purifier captures pet hair, efficiently filters PM2.5, and reduces odors from pet waste and everyday pollutants. Smart Outdoor – The A3 AWD Pro Robotic Mower features dual AI cameras and 3D LiDAR to detect obstacles up to 70 meters away, enabling precise edge trimming and navigation. With its all-terrain 4WD system, it handles slopes up to 80° and crosses obstacles up to 5.5 cm high. This ensures consistent, thorough coverage across your entire yard. The Z2 Ultra Robotic Pool Cleaner features 3D laser mapping, 7-in-1 surface cleaning, and auto-docking and charging upon completing a cleaning cycle. Dreame Automotive – Featuring the Dreame Nebula NEXT 01 Concept electric hypercar, with 1,876 horsepower from four electric motors, 0-62mph acceleration in 1.8 seconds, and active aerodynamics. The high-performance vehicle embodies the brand's pursuit of ultimate efficiency and performance, prioritizing aerodynamic efficiency through multifunctional structures that optimize cooling, airflow management, and high-speed performance while balancing luxury aesthetics with safety. Nine Years of Innovation, One Powerful Message Founded in 2017, Dreame Technology has rapidly ascended to become a global leading robotic vacuum brand and a dominant force across smart home categories, cementing its position as a technology innovator recognized at CES, IFA, and the world's premier showcases. Now available in over 120 countries through 6,500+ retail locations and flagship brand stores in major global cities, Dreame is bringing its mission of advancing civilization through technology to American households. The February 8th commercial during Game Day marks a pivotal moment: introducing U.S. audiences to a comprehensive vision of intelligent living—from autonomous cleaning systems and wire-free robotic lawn care to next-generation electric vehicles—all powered by continuous R&D investment and unified by Dreame's commitment to premium, intelligent design that transforms everyday life into effortless experiences. About Dreame Technology Established in 2017, Dreame Technology is an innovative consumer product company focused on smart home cleaning appliances with the vision to empower lives through technology. Follow us on Facebook, Instagram, TikTok and Twitter. For more information, please visit https://www.dreametech.com/. Media Contact: Roger WanEmail: rogerwan@dreame.tech
Enhance Capital Structure Supports Digital Asset Treasury Expansion and Institutional-Grade Growth Strategy KUALA LUMPUR, Malaysia, Dec. 12, 2025 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global” or the “Company”) today announced the conclusion of its Equity Line of Credit (ELOC) facility. This strategic move streamlines the Company's capital structure and positions the Company to concentrate on its highest-priority growth areas, including its Digital Asset Treasury (DaT) initiatives and its enterprise data and AI operations. VCI Global is well positioned to execute a disciplined, institutional-grade growth strategy across its technology and infrastructure businesses. Focused Growth on Digital Asset Treasury and Enterprise AI Operations VCI Global remains committed to advancing its enterprise data and AI operations, which include AI infrastructure and GPU compute solutions, analytics platforms, AI security, and cybersecurity consulting to support digital transformation in emerging markets. With improved financial clarity and stronger capital allocation discipline, the Company is better equipped to scale these operations and prepare them for future market recognition and independent valuation under its multi-subsidiary IPO framework. The conclusion of the ELOC also allows VCI Global to direct capital and management focus more effectively toward its DaT platform. This includes expanding its role in the Oobit–Tether ecosystem, further developing stablecoin settlement infrastructure, and strengthening its Real-World asset (RWA) advisory services. These initiatives ensure that DaT continues to serve as a core driver of technology-led revenue and operational scale. VCI Global continues to evolve its capital strategy by broadening its relationships with institutional partners that align with the Company’s long-term objectives. As part of this transition, VCI Global recognizes Alumni Capital for its consistent support during the Company’s earlier growth phase. Alumni Capital’s commitment and flexibility under the ELOC enabled VCI Global to access meaningful liquidity during a critical scaling period, and the Company looks forward to continued collaboration where aligned. Strengthened Equity Base and Multi-Subsidiary IPO Readiness “The conclusion of the ELOC reflects our commitment to disciplined capital management as we continue our work with institutional partners. Our DaT strategy, subsidiary spin-offs, and technology expansion remain firmly on track. With an optimized capital structure and continued partnerships with our financing partners, we are positioning VCI Global for stronger, more transparent, and more sustainable growth,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global. About VCI Global Limited VCI Global Limited is a cross-sector platform builder at the forefront of technology and financial architecture. The Company focuses on developing and scaling platforms across artificial intelligence, encrypted data infrastructure, digital treasury systems, and next-generation capital markets solutions. By integrating technology innovation with financial ecosystems, VCI Global enables enterprises, governments, and institutions to capture opportunities in the evolving digital economy. The Company’s strategy is centered on building scalable platforms that deliver resilience, efficiency, and long-term value across multiple high-growth sectors. For more information on the Company, please log on to https://v-capital.co/. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (“SEC”). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law. CONTACT INFORMATION: For media queries, please contact: VCI GLOBAL LIMITEDenquiries@v-capital.co
Amazon Verified Partner Delivers 99% Customer Growth for Retail Brands, Including Global Electronics Giant and Leading K-Beauty Companies SEOUL, South Korea and SEATTLE, June 13, 2025 /PRNewswire/ -- PulseAd, the AI-powered retail media platform, today announced its US market entry with Seattle operations. The move targets the rapidly growing $280 billion retail advertising market, where PulseAd's technology has already delivered 99% increases in new customer acquisition for retail brands. PulseAd Image Strategic Market Entry Targets Retail Media Boom Founded in March 2024, PulseAd has established its US headquarters in Seattle to capitalize on the retail media explosion reshaping digital advertising. With retail media generating over $150 billion in 2024 and projected to reach $280 billion by 2027, PulseAd's timing addresses the critical need for sophisticated campaign optimization tools. "We're entering the North American market with technology that has demonstrated measurable results during the most competitive shopping periods," said David Yun, CEO of PulseAd. "Our Seattle presence enables us to work directly with US retailers as retail media becomes the third major wave in digital advertising, following search and social." Proven Results Challenge Industry Giants PulseAd's clients, including a global electronics giant and prominent K-Beauty brands expanding into North American markets, have achieved performance improvements that exceed industry benchmarks: 99% increase in new customer acquisition 61% increase in repeat customer purchases 1,500% increase in sales during Amazon Prime Day through strategic traffic acquisition and keyword optimization 23% increase in overall brand repurchase rates These results position PulseAd's AI-first approach as a direct challenge to billion-dollar US AdTech giants retrofitting AI capabilities into legacy platforms. AI-First Platform Disrupts Traditional AdTech PulseAd differentiates itself through a comprehensive managed service approach that redesigns campaign management from the ground up. Unlike traditional agencies managing campaigns manually or existing platforms requiring extensive in-house expertise, PulseAd directly manages campaigns using AI-driven processes built specifically for retail media optimization. "Most US players are either traditional agencies without technology depth or legacy platforms adding AI features to existing infrastructure," explained Yun. "We've architected our entire platform around AI from day one, similar to how Tesla built electric vehicles from scratch rather than converting combustion engines." The platform integrates Amazon, Google, Meta, and TikTok, allowing retailers to manage and compare performance across all channels in one unified dashboard—critical as brands increasingly use external media to drive marketplace sales. Leadership Team and Technology Expansion PulseAd's leadership combines proven e-commerce and advertising technology expertise. CEO David Yun previously managed $1.3 billion in annual GMV at a major e-commerce platform(Kakao) and served as APAC Sales Director for a Silicon Valley advertising platform. CTO Kyle Choi brings engineering expertise in scalable data infrastructure, while COO Jay Kim contributes advertising operations experience from Google and other major AdTech companies. Building on existing integrations, PulseAd plans to add support for major US platforms including Walmart, Target, and Instacart during the second half of 2025. The company is also developing "Pulsy", an AI assistant tool for campaign optimization and performance analysis. Capturing Massive Market Opportunity The US e-commerce advertising market represents unprecedented opportunity, with retail media as the fastest-growing segment. Amazon alone generates over $50 billion in annual advertising revenue, while platforms including Walmart and Target rapidly scale their advertising offerings with double-digit growth rates. "Retail media provides superior attribution and ROI measurement compared to traditional digital channels," said Yun. "Brands are shifting significant budgets from search and social to retail media because they can directly measure sales impact rather than just engagement metrics." PulseAd's expansion follows a systematic approach: the company will connect with major North American platforms beginning during the second half of 2025, focusing on maximizing advertising performance through AI-driven optimization and transforming marketer workflow efficiency. About PulseAd PulseAd provides AI-powered e-commerce advertising solutions as a retail media platform. As an Amazon Verified Partner and the first Korean company to achieve this status, PulseAd helps retailers optimize advertising performance across multiple platforms, serving brands in beauty, electronics, lifestyle, and consumer goods categories. For more information, visit https://pulsead.io
HONG KONG, May 9, 2025 /PRNewswire/ -- CITIC Securities' research department has recently released its inaugural investment value analysis report on Newborn Town (09911.HK), initiating coverage with a "buy" rating and a target price of HK$11. The report underscores Newborn Town's leading position in the global social entertainment industry. The report highlights Newborn Town's extensive operational experience overseas, particularly in the MENA region, and its successful strategy of replicating its product operations and market expansion experiences. The company's app portfolio is now entering a "harvesting phase," with promising growth potential ahead. App Portfolio Fuels Robust Growth, with Replication Strategy Enhancing Competitive Edge CITIC Securities noted that Newborn Town, a global leader in social entertainment, has achieved robust growth in recent years. " Leveraging extensive experience in international markets, the company has effectively implemented its 'replication' strategy and efficiently executed its 'app portfolio' tactic. As a typical product-driven company, Newborn Town is now entering its 'harvesting phase, " the report states. The research report emphasizes that Newborn Town has a clear and synergistic business structure spanning three key segments.. Leveraging its middle platform system, a high proportion of local employees, the growth path combining investment and R&D efforts, and the rapid iteration of AI technology, Newborn Town is able to implement its 'replication' strategy swiftly. This enables the company's new products to accurately meet market demands, quickly establish a presence, and capture the first-mover advantage in the social networking markets at a relatively low cost. According to the report, Newborn Town's pan-audience social business has developed a healthy product hierarchy. The company currently boasts four flagship products. Its established products, MICO and YoHo contribute stable cash flow, while newer offerings, TopTop and SUGO delivered explosive growth in 2024, with revenues increasing by over 100% and 200% year-on-year respectively. CITIC Securities forecasts that, in the short term, TopTop and SUGO are expected to achieve around 50% year-on-year revenue growth in 2025. The company is well-positioned to develop blockbuster products in the medium to long term, leveraging its proven replicability to sustain its business growth. Newborn Town's diverse-audience social business is rapidly expanding in global markets. According to Frost & Sullivan, the global LGBTQ+ population is projected to reach 660 million by 2026, characterized by high income, significant consumption power, and a strong demand for online social interaction. With a high barrier to entry, Newborn Town has secured a significant first-mover advantage by establishing a large and engaged user base. CITIC Securities believes that the company's LGBTQ+ social platform, HeeSay shows significant growth potential. With its expansion into markets such as Southeast Asia, Japan, and South Korea, coupled with its live streaming feature, HeeSay is expected to achieve even greater market penetration. CITIC Securities projects a compound annual growth rate (CAGR) of approximately 25% in revenue from 2025 to 2027. As Newborn Town's social business continues to strengthen, the company has successfully developed a second growth curve by expanding into innovative areas such as mobile gaming and social e-commerce. CITIC Securities believes that by strategically targeting the casual gaming sector—an untapped market with significant potential—and leveraging its innovative product designs and flexible operational strategies, Newborn Town's merge game Alice's Dream: Merge Games has outperformed expectations and is now generating revenue for the listed company. Looking ahead, CITIC Securities projects that, with the accumulation of successful experience, Newborn Town will be able to launch new quality games with shorter recovery cycles, thereby creating another growth curve for the company. CITIC Securities also pointed out the impressive performance of Newborn Town's social e-commerce business. "There's a growing demand for online purchases of HIV medications and sexual wellness products in China. Heer Health, an e-commerce platform focused on the 'Internet + AIDS prevention' scenario, has become the leading online distributor of certain HIV medications, with roughly 50% of the domestic market share. The platform drives growth through its large user base, extensive distribution channels, and rapid delivery capabilities." Target Price Raised to HK$11, Driven by Strong Growth Potential in the Global Emotional Value Sector CITIC Securities sees substantial room for growth in the global social media market. According to Grand View Research, the global social networking market is projected to reach US$310.37 billion by 2030. Notably, regions such as the Middle East and Southeast Asia are recognized as high-potential markets, with low penetration rates yet strong user engagement, making them key areas for future growth. The research report highlights that, driven by the growth of industries like oil, countries in the MENA region enjoy high per capita GDP. However, factors such as the natural environment, religious customs, and cultural norms limit offline social entertainment options, creating a significant demand for online alternatives. With a user base that enjoys both wealth and leisure time, the market for social applications in the MENA region presents substantial growth potential. According to Verified Market Research, the Middle East media and entertainment market is projected to reach US$82 billion by 2032. Meanwhile, Southeast Asia, with its youthful, internet-savvy population and fast-improving digital infrastructure, is expected to see the GMV of digital entertainment reach US$3.4 billion by 2025. CITIC Securities observes that Newborn Town is strategically targeting the social networking segment for strangers, a space currently lacking dominant competitors. As Generation Z becomes the dominant user group, the demand for personalized social networking experiences continues to rise, blurring the lines between social networking and entertainment. Consequently, social products that cater to individual user preferences are likely to see higher user retention. Newborn Town has already established flagship products in live streaming, gaming, and voice chat, and is anticipated to expand further into other sub-segments in the future. The research report highlights Newborn Town's strong financial performance, characterized by sustained growth and robust cash flow. From 2020 to 2024, the company's revenue increased from RMB1.18 billion to RMB 5.09 billion, representing a CAGR of 44.1%. At the same time, the company's profitability has significantly improved, with gross margins for its social business continuing to rise. Operating cash flow remains healthy, and the company's cash reserves are substantial, ensuring ample resources for future expansion. CITIC Securities has highlighted Newborn Town's promising long-term growth, forecasting net profits of RMB 949 million, RMB1.215 billion, and RMB 1.519 billion for 2025-2027. The current price corresponds to price-to-earnings (PE) ratios of 11x, 8x, and 7x, respectively. By using both comparable valuation and discounted cash flow (DCF) methods, CITIC Securities has set a target price of HK$11 per share. Looking ahead, with continued advancements in AI technology, expansion into emerging markets, and the growing momentum of the emotional value sector, Newborn Town well-positioned to reinforce its leadership in the global social entertainment industry. For long-term investors, the current valuation presents an attractive opportunity.
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