Haoxi Health Technology Limited, a Beijing-based online marketing solution provider, has reported strong revenue growth for the fiscal year ending June 30, 2024.
The company anticipates a remarkable 72% increase in revenue, with expected earnings of approximately $48.52 million, up from $28.23 million in the previous fiscal year. This growth is attributed to Haoxi's strategic focus on online advertising solutions, particularly through innovative short video formats and news feed advertisements. The company's proprietary data analysis software, Bidding Compass, has played a crucial role in optimizing ad placements, leading to increased revenue and profit margins.
For FY24, Haoxi expects a gross profit of around $2.75 million, reflecting a 33.4% increase from the previous year. Net income is projected to rise to approximately $1.29 million, marking a 33.2% increase from the previous year. These figures highlight the effectiveness of Haoxi's business model and its ability to adapt to the evolving demands of the online advertising sector.
Following its initial public offering (IPO) in January 2024, Haoxi has experienced significant asset growth, with total assets rising to approximately $15.51 million as of June 30, 2024. This growth demonstrates the company's operational scale and effective capital utilization. Haoxi is well-positioned to capitalize on the growing demand for targeted healthcare advertising in China, given its established relationships with major media platforms and expertise in planning, placing, and optimizing short video ads.
CEO Zhen Fan expressed confidence in the company's performance, stating that the preliminary results reflect the strength of their business model and the team's capability to navigate the dynamic online advertising landscape.
Haoxi's commitment to the healthcare sector is a key component of its growth strategy. As the demand for targeted advertising in this field continues to rise, the company aims to enhance its service offerings and expand partnerships with various online advertising platforms. By utilizing advanced data analysis tools, Haoxi can optimize ad placements, ensuring maximum visibility and engagement for clients. This data-driven approach is expected to solidify Haoxi's position in the competitive digital marketing landscape.
It is important to note that the financial results presented are preliminary and subject to change. The figures have been prepared internally by management and have not yet been audited by the company's independent registered public accounting firm. The company cautions that these preliminary results should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP.
As Haoxi Health Technology Limited continues to navigate the complexities of the online advertising market, its focus on the healthcare sector and commitment to innovation will be critical in maintaining its growth trajectory. The ongoing audit of the company's consolidated financial statements will provide further clarity on its financial performance, but the preliminary results already highlight a promising outlook for the future. With a strong foundation and a clear strategic vision, Haoxi is well-positioned to capitalize on the expanding opportunities within the digital healthcare advertising space.