BEIJING, October 7, 2024 (GLOBE NEWSWIRE) — Haoxi Health Technology Limited (HAO), a company specializing in online marketing solutions and headquartered in Beijing, China, today unveiled its preliminary unaudited financial results for the fiscal year ending June 30, 2024.
Highlighting significant growth, HAO anticipates a 72% surge in revenue, projecting approximately $48.52 million, a substantial increase from $28.23 million reported in FY23. The company attributes this success to its strategic investments in online advertising solutions.
Key Financial Highlights
The company’s financial performance reveals a positive trajectory:
- Revenue: Projected at approximately $48.52 million for FY24, reflecting a 72% increase from FY23’s $28.23 million.
- Gross Profit: Expected to reach approximately $2.75 million for FY24, marking a 33.4% increase from $2.06 million in FY23.
- Net Income: Anticipated to rise to approximately $1.29 million for FY24, a 33.2% increase compared to $0.97 million in FY23.
- Total Assets: Increased to roughly $15.51 million as of June 30, 2024, up from $4.46 million at the end of FY23, a clear indicator of operational scaling and effective capital utilization, particularly after the January 2024 IPO.
HAO’s growth stems from its strategic focus on online advertising, especially through dynamic short video formats and engaging news feed ads. The company’s proprietary data analysis software, Bidding Compass, has optimized ad placements, contributing significantly to revenue and profit gains.
Since the company’s IPO in January 2024, HAO has witnessed consistent expansion in its core business, boosted by the demand for targeted advertising in China’s healthcare sector. The company’s established relationships with leading media platforms, combined with its proficiency in planning, executing, and optimizing short video ads, reinforces its ambition to lead the digital healthcare advertising market.
“We are confident that our preliminary FY24 results demonstrate the strength of our business model and the capacity of our team to successfully navigate the quickly changing online advertising landscape,” said Mr. Zhen Fan, CEO of Haoxi Health Technology Limited.
“The dedication of our team, coupled with our focus on the healthcare sector, has enabled us to consistently provide value to our clients. We aim to maintain this positive momentum by broadening our partnerships and enhancing our service offerings.”
As the healthcare segment continues to expand in China, HAO remains committed to capitalizing on emerging opportunities. With a strong track record in ad placement and well-established partnerships with online advertising platforms throughout China, the company is positioned to strengthen its presence in the market.
Important Note Regarding Preliminary Results
The financial results outlined in this press release are preliminary and subject to change. These preliminary figures involve internal calculations and estimations by the management team. HAO’s independent registered public accounting firm has not completed its audit of the data and does not offer an opinion on it. Actual results may diverge from these preliminary figures, and such changes could be significant. These preliminary financials should not be taken as a substitute for complete financial statements prepared according to U.S. GAAP and are not necessarily indicative of any future fiscal periods.
About Haoxi Health Technology Limited
Haoxi Health Technology Limited, headquartered in Beijing, China, is a provider of online marketing solutions, focusing on clients within the healthcare industry. The company’s success is driven by the growing popularity of news feed ads and the swift growth of the healthcare sector. HAO delivers comprehensive online marketing solutions, especially in the realm of online short video marketing, assisting clients in acquiring and retaining customers on prominent platforms within China, such as Toutiao, Douyin, WeChat, and Sina Weibo. The company is dedicated to lowering costs, boosting efficiency, and providing easily accessible online marketing solutions to advertisers.
For more information, please visit http://ir.haoximedia.com.
Forward-Looking Statements
This press release includes forward-looking statements. These statements involve plans, objectives, goals, strategies, future events, and underlying assumptions, not historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Actual results may differ significantly from the Company’s expectations due to risks and uncertainties, including market conditions, and other factors detailed in the “Risk Factors” section of the registration statement filed with the U.S. Securities and Exchange Commission.
Investors should not place undue reliance on any forward-looking statements. The Company has no obligation to update, revise, or correct these forward-looking statements after the date of this release.
For additional information, please contact:
Investor Relations WFS Investor Relations Inc. Janice Wang, Managing Partner Email: services@wealthfsllc.com Phone: +86 13811768599 +1 628 283 9214
