NEWBORNTOWN (09911) rose more than 6% in Hong Kong trading. At the time of writing, the stock was up 5.14%, trading at HK$10.23 with a turnover of HK$13.6524 million. The movement follows an announcement on February 13 from Hang Seng Indexes Company regarding the results of its quarterly review of the Hang Seng Index Series, which saw NEWBORNTOWN included in the Hang Seng Composite Index. The changes will take effect after the market close on Friday, March 6, 2026, and will be implemented starting Monday, March 9, 2026. Following this, the Shanghai and Shenzhen stock exchanges are expected to adjust the list of eligible stocks under the Southbound Stock Connect program accordingly. A research report from CICC suggested that NEWBORNTOWN may be added to the Stock Connect scheme, as it meets a series of criteria including market capitalization, liquidity, and listing history. In a separate note, CLSA highlighted that NEWBORNTOWN reported solid operational and revenue figures for 2025. The company's total revenue grew between 32.8% and 37.5% year-over-year, with the midpoint of this range aligning with market consensus and the firm's own expectation of 35.5% growth. CLSA also noted that the midpoint of social networking revenue for the fourth quarter increased 26% year-over-year to RMB 1.72 billion, supported by steady growth in its diversified social products—monthly active users grew 11% to 35 million—and the adoption of AI tools. Meanwhile, the midpoint of innovative business revenue for the quarter rose 40% year-over-year to RMB 210 million, driven primarily by traffic monetization, e-commerce, and short-form video drama operations.