BEIJING, October 7, 2024 – Haoxi Health Technology Limited (“HAO”), a leading online marketing solution provider headquartered in Beijing, China, today announced its preliminary, unaudited financial results for the fiscal year ending June 30, 2024 (“FY24”). The company projects substantial revenue growth, citing strategic development in online advertising solutions, particularly through the use of short video formats and news feed ads.
HAO attributes its success to its proprietary data analysis software, Bidding Compass, which it uses to optimize ad placements. The company believes this technology has been a key driver of its revenue and profit growth for FY24.
Key Financial Highlights (Projected Preliminary, Unaudited Results):
- Revenue: Approximately $48.52 million for FY24, representing a 72% increase compared to $28.23 million in the fiscal year ended June 30, 2023 (“FY23”).
- Gross Profit: Approximately $2.75 million for FY24, reflecting a 33.4% increase from $2.06 million in FY23.
- Net Income: Approximately $1.29 million for FY24, a 33.2% increase from $0.97 million in FY23.
- Total Assets: As of June 30, 2024, the company’s total assets increased to approximately $15.51 million, up from $4.46 million at the end of FY23. This reflects HAO’s increased operational scale and capital utilization following its initial public offering (“IPO”) in January 2024.
Since its January 2024 IPO, HAO has experienced consistent growth in its core business. This has been fueled by the demand for targeted healthcare advertising within China. The company’s partnerships with major media platforms, along with its expertise in planning, placing, and optimizing short video ads, have solidified its goal to be a leading player in the digital healthcare advertising market.
“We believe that our preliminary FY24 results reflect the strength of our business model and our team’s ability to navigate through a rapidly evolving online advertising landscape,” said Mr. Zhen Fan, CEO of the Company.
“Our dedicated team, coupled with our focus on the healthcare sector, has enabled us to consistently deliver value to our clients. We look forward to maintaining this momentum as we continue to expand our partnerships and enhance our service offerings.”
As the healthcare sector continues to expand rapidly in China, HAO aims to capitalize on the arising opportunities and further strengthen its position in the market.
Note About Preliminary Results
The financial results presented in this release are preliminary and may change. These preliminary financial results should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP and are not necessarily indicative of the results to be achieved for any future periods.
About Haoxi Health Technology Limited
Haoxi Health Technology Limited, based in Beijing, is an online marketing solutions provider specializing in the healthcare industry in China. The company’s growth is driven by the rise of news feed ads and the rapid development of the healthcare sector.
The company offers one-stop online marketing solutions to help advertisers acquire and retain customers on popular platforms in China, such as Toutiao, Douyin, WeChat, and Sina Weibo. They are dedicated to reducing costs, increasing efficiency, and providing easy online marketing solutions to advertisers.
Forward-Looking Statement
This press release contains forward-looking statements that involve risks and uncertainties. Investors are cautioned not to place undue reliance upon any forward-looking statements, and should review the company’s filings with the SEC for a discussion of additional factors that could cause actual results to differ materially from the company’s expectations.
