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Healthcare advertisers, including cosmetic surgery and dental hospitals, pay Haoxi Health Technology to plan campaigns, produce short videos and place advertisements on online platforms. Its China-based operating business tracks campaign performance and adjusts placements, billing advertisers mainly according to valid ad views delivered. Advertising services generate all its revenue, with healthcare advertisers contributing the substantial majority.
Nearly all its advertising purchases go through Ocean Engine, a ByteDance subsidiary that provides access to apps including Douyin and Toutiao. Earnings depend on the cost of those placements and the rebates media partners provide. Its Ocean Engine agreement requires renewal rather than renewing automatically, while advertisers generally sign short-term agreements and can stop buying without notice. The business also sometimes pays media partners before collecting from advertisers, creating a need for working capital.
Chinese advertising law requires the company to check the legality of the ads it places. For medical procedures and pharmaceuticals, this includes checking that advertisers hold the required qualifications and approvals for their advertisements.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Haoxi depends on Chinese advertiser demand and access to ByteDance’s Ocean Engine, which supplied over 99% of its fiscal 2026 purchases, while media-channel rebates materially affect its margins.
Weibo and Haoxi both depend on Chinese advertisers’ social-media spending: Haoxi earns fees managing campaigns, including placements on Weibo, while Weibo sells advertising to advertisers and agencies. Weibo’s advertising revenue offers a read on the spending that also supports Haoxi’s campaign business.
Weibo Corporation earningsWB
Weibo’s advertising revenue shows whether Chinese advertisers are spending on social media campaigns, a source of demand for the campaign services Haoxi Health manages.
Watch Weibo’s advertising revenue. Stability or growth would suggest advertisers are still funding social-media placements, supporting demand for Haoxi Health’s campaign planning and ad-placement services. A decline would signal tighter advertising budgets and could make it harder for Haoxi to win or renew campaigns.
