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Joy Spreader’s Revenue Surges to Reach over HK$600 Million for H1 2021

joy-spreader’s-revenue-surges-to-reach-over-hk$600-million-for-h1-2021

BEIJING, Sept. 5, 2021 /PRNewswire/ — Joy Spreader Group Inc. (HKG:6988, “the Group”, “Joy Spreader”), a leading marketing technology company focused on serving the mobile new media-based consumption market and the mobile internet sector in which traffic can be monetized, on August 30 released its interim financial report for the first six months ended June 30, 2021. According to the report, the Group plans to focus on three areas as part of its strategy for the near future:

1) expand the e-commerce business outside of China to increase private traffic across multiple channels;

2) further optimize data algorithms;

3) further increase investment in research and development (R&D).

According to lately published 48th Statistical Report on Internet Development in China, released by China Internet Network Information Center (CNNIC), as of June 2021, the number of mobile internet users in China had reached over 1 billion. Online shopping has evolved into the most common way to place order of goods and services, while young and middle-aged users now form the core of the country’s consumer groups.

In line with an overall shift to a digital economy in tandem with higher expectations among consumers when it comes to the quality of the products and services they purchase, the e-commerce market has been experiencing a boom with an increased focus on marketing products via mobile new media platforms. 

With internet-based platforms providing more business opportunities to partners, mobile new media performance-based marketing service providers expect to further broaden their traffic coverage. To capitalize on the opportunities, Joy Spreader plans to build a network of premium locations for product placement on various new media platforms alongside the creation of private traffic content by leveraging its advantages in data algorithms as well as through strategic alliances, investments and incubation projects. The aim is to provide traffic support to the mobile new media performance-based marketing business, including the e-commerce and interactive entertainment components while further reducing per unit marketing costs.

During the first half of 2021, Joy Spreader plowed additional investment into R&D, with the spend increasing by 700 per cent year on year to HK$29.9 million (approx. US$3.8 million). The R&D investment will be directed towards two areas:

1) further optimization of its automated transaction matchmaking system and related technology platform, facilitating accurate matching between client’s products and product placement locations on mobile new media platforms;

2) building of competence in technologies in the e-commerce marketing sector outside of China by putting substantial R&D resources into data analysis and algorithm modeling for video content on mobile new media platforms with global reach.

The interim financial report also showed that Joy Spreader achieved revenue of HK$624 million (approx. US$79.8 million) during the first half of 2021, an increase of 62.37 per cent from the same period of the previous year.

Most notably, sales of e-commerce products witnessed a year on year rise of 285 per cent to HK$129 million (approx. US$16.5 million). In preparation for the overseas expansion, the Group has created a new technology model and service system based on the characteristics of mobile new media platforms and the market environment outside of China. The company established Hainan Joy Spreader Interactive International Technology Co., Ltd, an e-commerce marketing platform specifically for foreign markets. The firm plans to launch an e-commerce marketing service first in Southeast Asia, followed by the anticipated expansion of the service into other countries and regions worldwide, in addition to continuing the expansion of its e-commerce marketing business on international e-commerce platforms, starting with the immensely popular TikTok platform.

Joy Spreader delivered outstanding performance in terms of key business indicators during the first half of the year. In response to new trends sweeping the online world, the Group has aggressively expanded into new markets and is highly confident in the future prospects of the company based on its three growth engines: the e-commerce business, private traffic and the data algorithm platform.

For more information about Joy Spreader, please visit the company’s official website.

View original content:https://www.prnewswire.com/news-releases/joy-spreaders-revenue-surges-to-reach-over-hk600-million-for-h1-2021-301368986.html

SOURCE Joy Spreader Group Inc.

Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.

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