Joy Spreader Further Strengthens Competence in Technologies with R&D Investment Increasing 712.5% during First Half of 2021
BEIJING, Sept. 1, 2021 /PRNewswire/ -- Innovation is the core competiveness of high-tech companies while research and development investment is often regarded as one of the key indicators for measuring the growth potential of these firms. Joy Spreader Group Inc. (HKG:6988, "the Group", "Joy Spreader"), a leading marketing technology company listed in Hong Kong, revealing details of surging R&D investment through its interim results of 2021.
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. Gross profit (excluding foreign exchange gains or losses) for the period grew 105.15 per cent YoY to HK$214 million (approx. US$27.4 million), while net profit for the period increased 102.26 per cent YoY to HK$137 million (approx. US$17.5 million).
Joy Spreader also increased investment in data analysis and modeling of algorithms during the reporting period. R&D expenses showed a YoY gain of 712.5 per cent to HK$29.9 million (approx. US$3.73 million). With plans to expand into foreign markets, the firm is seeking to build first mover advantage and competence in technologies in the mobile media performance-based marketing sector outside of China, including e-commerce marketing and interactive entertainment, by putting substantial R&D resources into data analysis and algorithm modeling for video content on international mobile new media platforms such as TikTok.
At the same time, the company further increased its R&D spend in the domestic market. As of June 30, 2021, the number of covered marketing points included in the Group's marketing ecosystem had climbed to 1,561,601, up 208.65 per cent from a year prior. The company also added to its collection of data models. As of June 30, the number of models had expanded to 169 units, up 14.19 per cent from 148 units at the end of 2020.
The continued R&D investment has further consolidated Joy Spreader's leadership in the marketing technology sector in which data accumulation has been known to have a decisive impact on the building and performance of models. With massive, structured data that spans a meaningful period of time and supports real-time interactions, marketing technology firms can better test, build and improve their algorithm models while delivering outstanding marketing services, and by doing so, enhance the quality of services.
Being a technology company that provides performance-based marketing services and boosts consumption across platforms through data analysis and algorithm capabilities, Joy Spreader expects to continuously optimize its automatic transaction matchmaking system and related technology platform, allowing the system to better facilitate transactions by accurately matching products from clients with covered marketing points on mobile new media platforms via precision analysis of products and mobile new media content as well as through structured processing of information.
Going forward, Joy Spreader plans to continue strengthening its competence in key technologies in a move to improve the quality of services while enhancing competitiveness by fully exerting the potential of data assets, with the aim of further consolidating its leadership in the industry and assuring the long-term growth of the company by virtue of innovative, premium services.
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SOURCE Joy Spreader Group Inc.
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