HK Stock Market Move | NEWBORNTOWN (09911) rose more than 3% and is currently looking for merger and acquisition opportunities in the European and Japanese markets.

NEWBORNTOWN (09911) rose by more than 3%, with a 2.63% increase to HK$5.08 as of the time of writing, with a turnover of HK$23.32 million. On the news front, recently, NEWBORNTOWN's Senior Vice President and Senior Secretary, Song Mingliang, stated that the group entered the Middle East market in 2017 and now holds over half of the group's business share in that market. The group is now seeking merger and acquisition opportunities in the European and Japanese markets to increase its revenue. Song Mingliang pointed out that the group's business from the Middle East and Pan-Asia markets accounts for over half and 25% of the business respectively. The group sees great potential in acquiring businesses in Europe and Japan, believing that the mobile internet market in these regions has not yet provided users with enough emotional value, and there is room to introduce more consumer content and diverse projects, which could lead to greater profitability after the group restructures. In terms of business platforms, Song Mingliang stated that the developed TopTop and SUGO account for 40% of the group's business. In terms of revenue model, user top-ups account for the majority of revenue, while advertising revenue provides a smaller portion. E-commerce business will be developed according to user needs and can extend in many ways, including overseas expansion.