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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Newborn Town Inc.    9911   KYG6464H1011

NEWBORN TOWN INC.

(9911)
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Newborn Town : SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE 2019 ANNUAL REPORT OF THE COMPANY

07/28/2020 | 07:50am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole a or any part of the contents of this announcement.

NEWBORN TOWN INC.

赤 子 城 科 技 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 9911)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION

TO THE 2019 ANNUAL REPORT OF THE COMPANY

Reference is made to the annual report (the "Annual Report") of Newborn Town Inc. (the "Company", together with its subsidiaries, the "Group") for the year ended 31 December 2019 published on the website of both The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Company on 28 April 2020. Terms used herein shall have the same meanings as defined in the Annual Report unless the context requires otherwise.

The board of directors (the "Board") would like to provide further information on the Annual Report regarding the expected timeline for the application of the unutilised proceeds from the global offering of the shares of the Company (the "Global Offering") pursuant to paragraph 11(8) of Appendix 16 of the Rules Governing the Listing of Securities on the Stock Exchange. The shares of the Company were listed on the Stock Exchange on 31 December 2019 with net proceeds from the Global Offering amounted to approximately HK$166.9 million (after deducting professional fees, underwriting commissions and other related listing expenses).

As of 31 December 2019, due to the proximity in time between completion of the initial public offering and the year-end date, the net proceeds had not been utilised by the Group. The Directors are not aware of any material change to the planned use of the proceeds as set out in the section headed "Future Plans and Use of Proceeds" in the prospectus of the Company dated 17 December 2019 (the "Prospectus").

1

According to the intended use as set out in the section headed "Future Plans and Use of Proceeds" in the Prospectus, the breakdown of the intended use and amount utilised as at 31 December 2019 were as follows:

Amount that

had been

Remaining

Proposed timetable

utilised as at

balance as at

for the use of

31 December

31 December

unutilised net

Budget

2019

2019

proceeds

HK$ million

HK$ million

(approximately)

(approximately)

To develop, expand and upgrade our

68.6

-

68.6

On or before

Solo X product matrix

31 December 2022

To upgrade our Solo Math

57.7

-

57.7

On or before

programmatic advertising platform

31 December 2022

To enhance the big data and AI

28.4

-

28.4

On or before

capabilities of our Solo Aware AI

31 December 2022

engine

To enhance our local service

6.5

-

6.5

On or before

capabilities and build our global

31 December 2022

information distribution network

To be used for working capital and

5.7

-

5.7

On or before

other general corporate purposes

31 December 2022

Total

166.9

-

166.9

On or before

31 December 2022

Note: The remaining proceeds are expected to be utilised during the period from 1 January 2020 to 31 December 2022, and is based on the Directors' best estimation of the future market conditions and thus subject to change.

The Board confirmed that, save as disclosed in this announcement, the content of the 2019 Annual Report remained correct and unchanged.

By order of the Board

Newborn Town Inc.

LIU Chunhe

Chairman of the Board

Beijing, 28 July 2020

As at the date of this announcement, the executive Directors of the Company are Mr. LIU Chunhe, Mr. LI Ping and Mr. WANG Kui; and the independent non-executive Directors of the Company are Mr. PAN Xiya, Mr. CHI Shujin and Mr. LIU Rong.

2

Disclaimer

Newborn Town Inc. published this content on 28 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2020 11:50:00 UTC


© Publicnow 2020
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Financials
Sales 2020 929 M 143 M 143 M
Net income 2020 127 M 19,6 M 19,6 M
Net Debt 2020 - - -
P/E ratio 2020 15,1x
Yield 2020 -
Capitalization 1 461 M 225 M 225 M
Capi. / Sales 2020 1,57x
Capi. / Sales 2021 0,92x
Nbr of Employees 319
Free-Float 31,5%
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Technical analysis trends NEWBORN TOWN INC.
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 1,76 CNY
Last Close Price 1,46 CNY
Spread / Highest target 20,2%
Spread / Average Target 20,2%
Spread / Lowest Target 20,2%
EPS Revisions
Managers and Directors
NameTitle
Chun He Liu Chairman & Chief Executive Officer
Ping Li Chief Operating Officer & Executive Director
Kui Wang Chief Financial Officer & Executive Director
Xiya Pan Independent Non-Executive Director
Shujin Chi Independent Non-Executive Director
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