NEWBORNTOWN Inc. (stock code: 09911) saw its shares soar 5.01% intraday on Tuesday, following the company's positive revenue guidance for the current fiscal year.
According to a brief released on Monday, NEWBORNTOWN expects its revenue from the core social networking business to reach between RMB 4,520 million and RMB 4,720 million for the year. Additionally, the company forecasts revenue from its innovative business segment to range from RMB 440 million to RMB 480 million.
The robust revenue outlook across both its main business lines appears to have fueled investor optimism, driving the stock's sharp intraday rally. Analysts will be watching closely to see if NEWBORNTOWN can deliver on these projections, which could further bolster the company's stock performance.
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