24/7 Market News Snapshot 28 April, 2025 – MicroAlgo, Inc. Ordinary Shares (NASDAQ:MLGO)
DENVER, Colo., 28 April, 2025 (www.247marketnews.com) – (NASDAQ:MLGO) are discussed in this article.
MicroAlgo, Inc. (NASDAQ:MLGO) has garnered significant attention recently, experiencing a remarkable pre-market surge, currently trading at $10.53, marking a dramatic increase of 32.94% from the previous close of $7.92. The surge is underpinned by a substantial trading volume of 2.75 million shares, indicating a notable rise in investor interest and confidence in the stock’s potential for continued growth. Analysts highlight that the technical indicators suggest strong upward momentum, inviting investors to closely monitor this rapidly evolving stock, as it promises intriguing opportunities in the market.
The company’s impressive performance is further complemented by its financial results for 2024, revealing a successful turnaround with total revenues of RMB 541.5 million (USD 75.3 million) and a net income of RMB 53.4 million (USD 7.3 million). This marks a significant shift from the previous year’s net loss of RMB 266.2 million, affirming MicroAlgo’s return to profitability. The surge in revenue is largely attributed to a strategic pivot away from its intelligent chips and services segment, allowing the company to focus exclusively on its core business—central processing algorithms—which accounted for all its revenues this year.
Investment in research and development played a critical role in the company’s achievements, with RMB 111.7 million (USD 15.5 million) allocated to enhance technological capabilities and maintain a competitive edge. As of December 31, 2024, MicroAlgo reported cash and cash equivalents totaling approximately RMB 1,035.9 million (USD 144.1 million), positioning the company for strategic opportunities and sustained growth.
CEO Min Shu remarked on this pivotal year, citing innovation and customer satisfaction as key drivers of success, emphasizing commitment to creating long-term shareholder value. With solid fundamentals and a dynamic market positioning, MicroAlgo is well-prepared to leverage its strengths in the central processing algorithm services landscape.