BEIJING, Oct. 07, 2024 – Haoxi Health Technology Limited (“HAO”), an online marketing solutions provider headquartered in Beijing, China, announced preliminary unaudited financial results for the fiscal year ending June 30, 2024 (“FY24”).
HAO projects significant revenue growth for FY24, attributing this success to its strategic focus on online advertising solutions, particularly through short video formats and news feed ads. The company’s proprietary data analysis software, Bidding Compass, enables optimized ad placements, which HAO believes has driven both revenue and profit growth during FY24.
Key Financial Highlights (Preliminary, Unaudited)
- Revenue: Approximately $48.52 million for FY24, a 72% increase compared to $28.23 million in the fiscal year that 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, up 33.2% from $0.97 million in FY23.
- Total Assets: As of June 30, 2024, the company’s total assets increased to approximately $15.51 million, from $4.46 million at the end of FY23. This growth reflects HAO’s operational scale and capital utilization following its initial public offering (“IPO”).
Since its IPO in January 2024, HAO has experienced consistent growth in its core business, benefiting from the increasing demand for targeted healthcare advertising in China. The company’s relationships with major media platforms, coupled with its expertise in planning, placing, and optimizing short video ads, have furthered its goal of becoming a leader in the digital healthcare advertising market.
“We believe that our preliminary FY24 results highlight the strength of our business model and our team’s ability to navigate a rapidly changing online advertising environment,” said Mr. Zhen Fan, CEO of Haoxi Health.
“Our dedicated team, combined 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 in China, HAO is committed to capitalizing on these opportunities. Leveraging its experience in ad placement strategies and its established partnerships with online advertising platforms, the company aims to strengthen its position in the market.
Note about Preliminary Results
The reported financial results are preliminary and may change. This preliminary financial information includes calculations and figures prepared internally by management. The company’s independent registered public accounting firm has not completed its audit and does not express an opinion on these data. Therefore, actual results may differ materially from the preliminary figures presented. These preliminary results should not be considered a substitute for full financial statements prepared in accordance with U.S. GAAP and are not necessarily indicative of future performance.
This preliminary information could also be affected by the company’s financial closing procedures, final adjustments, and ongoing audits of their consolidated statements.
About Haoxi Health Technology Limited
Haoxi Health Technology Limited, headquartered in Beijing, is a specialized online marketing solution provider in China, focused on the healthcare industry. The company’s growth is driven by the rise of news feed ads and the rapid expansion of the healthcare sector in China. The company provides comprehensive online marketing solutions, with a focus on online short video marketing, to help advertisers acquire and retain customers on popular Chinese platforms like Toutiao, Douyin, WeChat, and Sina Weibo.
HAO is dedicated to reducing costs, increasing efficiency, and providing easy-to-use online marketing solutions for its advertisers.
For more information, please visit: http://ir.haoximedia.com.
Forward-Looking Statement
This press release contains forward-looking statements reflecting the company’s plans, objectives, goals, strategies, expected future events or performance, and underlying assumptions. These statements are not historical facts and are made when the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” or similar expressions. Forward-looking statements are not guarantees of future results and involve risks and uncertainties. Actual results could differ materially from the company’s expectations.
These statements are subject to various uncertainties and risks, including market conditions and factors specific to the industry, as detailed in the “Risk Factors” section of the registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). Investors are urged to consider these factors and not place undue reliance on any forward-looking statements. Additional factors are discussed in the Company’s SEC filings, available at www.sec.gov.
The Company has no obligation to update, revise, or correct these forward-looking statements after the date of this release.
For more information, please contact:
Investor Relations WFS Investor Relations Inc. Janice Wang, Managing Partner Email: services@wealthfsllc.com Phone: +86 13811768599 +1 628 283 9214
