#Meitu’s 2022 Revenue Up by 25.2%: The Company’s First Full-Year Profit

According to reports, on March 30, Meitu announced on the Hong Kong Stock Exchange that its revenue in 2022 would be 2.0853 billion yuan, a year-on-year increase of 25.2%; The net profit attributable to the owner of the company was 94.1 million yuan, which was the first time to achieve a full year profit; The adjusted net profit attributable to the company’s owners was 110.5 million yuan, up 29.9% year-on-year; The proposed final dividend is HK $0.02 per share.

Meitu Company: In 2022, the company recognized an impairment loss of about 86.6 million yuan and 198 million yuan in Ethereum and Bitcoin

Meitu, a global mobile internet company, announced on the Hong Kong Stock Exchange on March 30th that its revenue in 2022 reached 2.0853 billion yuan, signifying a 25.2% YoY increase. This was the first time the company reported a full-year profit since it went public in December 2016. Meitu also reported that the net profit attributable to the owner of the company was 94.1 million yuan, while the adjusted net profit was 110.5 million yuan, marking a 29.9% YoY growth. Additionally, Meitu proposed a HK $0.02 per share final dividend. In this article, we will discuss key points around Meitu’s 2022 revenue announcement and what they mean for the company.

Meitu’s Financial Performance

Meitu’s revenue in 2022 was driven by its flagship app, MeituPic, which is one of the most popular photo editors in China. The app allows users to create easily shareable digital content using its array of photo editing tools, filters, and frames. MeituPic has over 300 million monthly active users globally as of December 2021. Moreover, the revenue from Meitu’s other “beauty” products has also increased significantly. Meitu’s skincare app – MeituSkin, enables users to assess their skin’s condition and obtain personalized skincare advice. The app has over 60 million registered users as of December 2021.

Meitu’s Global Expansion Strategy

Meitu has been focusing on expanding its services in international markets. The company has launched its MeituPic app overseas and it is currently available in various countries including the US, Japan, and South Korea. Meitu has successfully tailored its beauty products to meet the diverse cultural and beauty standards of its international customers. Additionally, Meitu has been investing in research and development to improve the core technology of its products. The company has announced that it will continue to invest heavily in its technologies to improve the user experience and to further expand its products to offer new features for its customers worldwide.

Meitu’s Growth Prospects

The continued growth of Meitu’s revenue shows that the company has been successful in executing its business plan. MeituPic’s ongoing success, coupled with the increasing popularity of Meitu’s other beauty products, indicates that the company has significant room for growth in the years ahead. Moreover, Meitu’s overseas expansion strategy shows a deliberate commitment to tapping into new markets and creating a global impact. This is essential as Meitu faces competition from other similar beauty-driven companies like YouCam Makeup, which is also gaining popularity worldwide.

Conclusion

Meitu’s revenue growth in 2022 signifies a marked improvement in the company’s financial performance. With its successful apps and products, combined with its aggressive international growth strategy, Meitu’s prospects for the future look promising. The proposed dividend to shareholders also reflects the confidence that the company’s leadership has in Meitu’s long-term future.

FAQs

#What is Meitu?

Meitu is a global mobile internet company that focuses on beauty products, including its flagship app, MeituPic, a popular photo editor that allows users to create easily shareable digital content using its various photo editing tools, filters, and frames.

#What is MeituPic?

MeituPic is Meitu’s flagship app, which is one of the most popular photo editors in China, with over 300 million monthly active users globally as of December 2021.

#What is Meitu’s global expansion strategy?

Meitu has been focusing on expanding its services in international markets. The company has launched its MeituPic app overseas and it is currently available in various countries including the US, Japan, and South Korea.