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Haoxi Health Technology Limited reports news on its China-based online marketing solutions business serving healthcare advertiser clients. The company provides campaign planning, content production, media placement, data analysis and optimization for online advertising, with activity centered on short video, news feed and social media platforms through its operating entity Beijing Haoxi Digital Technology Co., Ltd.
Recurring developments include financial results, framework contracts for digital advertising services, customized livestreaming agency services, AI-related marketing and health-management collaborations, Nasdaq listing compliance matters, reverse share-split actions and equity financing activity involving Class A ordinary shares and related securities.
Haoxi Health Technology (HAO) reported strong financial results for fiscal year 2024. Net revenue increased 72% to $48.52 million, up from $28.23 million in 2023. Gross profit rose 33% to $2.75 million, while net income grew 33% to $1.29 million. The company expanded its customer base from 393 to 543 clients, with average revenue per client increasing from $71,830 to $89,355. HAO's cash position strengthened to $6.66 million from $1.20 million year-over-year. The company recently closed a $12 million follow-on offering and announced a strategic partnership with AI platform Gauss Intelligence.
Haoxi Health Technology (HAO), an online marketing solution provider in Beijing, China, has announced preliminary unaudited financial results for FY24 ended June 30, 2024. The company projects 72% revenue growth to approximately $48.52 million, up from $28.23 million in FY23. Gross profit is expected to increase by 33.4% to $2.75 million, while net income is projected to rise 33.2% to $1.29 million.
HAO attributes this growth to its strategic development in online advertising solutions, particularly through short video formats and news feed ads. The company's proprietary data analysis software, Bidding Compass, has reportedly optimized ad placements, driving revenue and profit growth. Total assets increased to $15.51 million from $4.46 million at the end of FY23, reflecting operational scale and capital utilization post-IPO in January 2024.
Haoxi Health Technology (HAO) has announced a strategic partnership with Global Mofy AI 's subsidiary, Gauss Intelligence (Beijing) Technology Co., The collaboration aims to integrate Gausspeed, an advanced generative AI platform, with HAO's extensive application scenarios to create innovative AI marketing solutions.
The partnership will focus on three key areas: enhancing big data analysis, automating creative content generation, and improving intelligent decision-making processes. Global Mofy, a leading digital asset bank in China managing over 100,000 digital assets, will provide AI capabilities through Gausspeed. HAO will contribute its industry knowledge and practical application expertise.
Gausspeed, launched in 2024, uses Physics AI to simulate intelligent behavior, build and navigate complex 3D environments, and enable sophisticated interactions among digital assets. This collaboration is expected to revolutionize digital marketing approaches and drive digital transformation across the marketing landscape.
Haoxi Health Technology (HAO), an online marketing solution provider based in Beijing, has successfully closed its previously announced underwritten follow-on public offering. The company raised $12 million by offering 4,000,000 units at a price of $3.00 per unit. Each unit consists of one Class A Ordinary Share (or pre-funded warrant), one Series A warrant, and one Series B warrant.
The offering was conducted on a firm commitment basis, with EF Hutton acting as the sole bookrunner. HAO has granted EF Hutton a 45-day option to purchase up to an additional 600,000 units to cover over-allotments. The company plans to use the proceeds for business expansion and technology investments in the healthcare industry.
Haoxi Health Technology (HAO), an online marketing solution provider based in Beijing, has announced the pricing of its underwritten follow-on public offering. The company is offering 4,000,000 units at $3.00 per unit, aiming to raise $12 million in gross proceeds. Each unit consists of one Class A Ordinary Share (or a pre-funded warrant), one Series A warrant, and one Series B warrant to purchase Class A Ordinary Shares. The warrants have a 5-year term with varying exercise prices and conditions. EF Hutton is acting as the sole bookrunner for the offering, which is expected to close around September 20, 2024. HAO plans to use the proceeds for working capital, general corporate purposes, potential acquisitions, and hiring.
Haoxi Health Technology (HAO), based in Beijing, China, has announced a strategic initiative to support international humanitarian aid amid global challenges. The company, known for its digital marketing solutions, is leveraging its resources to address urgent medical supply needs in crisis-hit regions. HAO has formed a dedicated service team to collaborate with international medical aid organizations, sourcing essential items such as medical equipment, pharmaceuticals, and protective gear. Chairman and CEO Zhen Fan emphasizes the importance of corporate social responsibility and invites other companies and individuals to join their efforts to alleviate global humanitarian crises.
Haoxi Health Technology (HAO) reported its unaudited financial results for the six months ended December 31, 2023. The company recorded a significant increase in total revenue, reaching $23.50 million, a 157% rise from $9.16 million in the same period of 2022.
Gross profit rose by 65% to $1.20 million, while net income increased by 70% to $0.76 million. HAO's growth was driven by an increase in the number of clients served, from 183 to 338, and a higher average revenue per client, primarily from the healthcare sector.
Recent developments include partnerships with Wuhan Yiya Simei Dental Clinic and Jinan Yanling Biotechnology, focusing on delivering comprehensive advertising services on popular social media platforms. However, the company's gross margin decreased due to market competition, leading to higher costs and required customer rebates.
Haoxi Health Technology announced a Rebate Agreement with Jinan Yanling Biotechnology Co., for comprehensive advertising and promotion services in the health-related industries. The agreement includes a targeted advertising spend of at least RMB50 million on ByteDance's platforms. This partnership aims to enhance brand exposure, image, and market reach for Yanling and its affiliates.
Haoxi Health Technology entered into a Framework Contract for Cooperation on Information Placement on Media Platforms with Yiya Dental, a regional dentistry chain in China. The partnership aims to provide comprehensive advertising services on popular social media platforms, with a total cooperation fee of no less than RMB40 million ($5.5 million).
HAO's CEO highlighted the importance of social media advertising for real-time monitoring and optimization of advertising effectiveness. The collaboration is expected to enhance Yiya Dental's services and improve the overall patient experience, while HAO seeks to explore innovative advertising distribution strategies for sustainable business growth.
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