Photo/Shetuwang

Dec. 31 (NBD) -- Shares of Newborn Town (9911.HK), a Beijing-based mobile app developer and mobile advertising services provider, surged 93.45 percent to close at HK$3.25 in its Hong Kong debut on Tuesday.

The company's offer price is HK$1.68 per share.

Newborn Town has gradually built its product matrix dubbed "Solo X" since the launch of its first app Solo Launcher back in 2013. The developer has accumulated 797 million users as of June 30, 2019 and its number of average daily active users reached 35 million in the first six months of 2019.

Besides, Newborn Town recorded a robust profit growth from 2017 to the first half of 2019. It boasted a gross profit of 141 million yuan in 2018, recording 101.43 percent higher from year-ago period. In the first six months of 2019, the tally increased by 118 percent to 123 million yuan, compared to the same period a year ago.

Email: gaohan@nbd.com.cn