Meitu: A Steady Growth and Profit Momentum in 2022

03/30/2023 12:01 • Blockchain Briefs • 88 views

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 Chinese tech company, recently announced its revenue and net profit last year, which proved to be impressive. On March 30, 2022, Meitu released the news on the Hong Kong Stock Exchange about their robust financial performance in 2021. According to the report, Meitu’s revenue in 2022 was 2.0853 billion yuan, a year-on-year increase of 25.2%.

Meitu’s First Full-Year Net Profit

Furthermore, it is a noteworthy achievement for Meitu that they have achieved their first full-year profit. The net profit attributable to the owner of the company amounted to 94.1 million yuan. This milestone conveys that the company’s growth strategy and management approach are successful in the market of photo and video editing apps.

Increasing Adjusted Net Profit and Dividends

Moreover, the adjusted net profit attributable to the company’s owners increased by 29.9%. This data shows that Meitu is taking strides in adapting to the competitive and challenging environment of the market. Additionally, the company proposed a final dividend of HK $0.02 per share, which indicates Meitu’s commitment to returning value to its investors.

How Did Meitu Achieve This Financial Milestone?

Meitu’s photo-editing apps have been popular in China and abroad for some time. However, their revenue streams diversified over the years. The company has marketed 5G selfie phone services and smart remote cameras that serve tourism and real estate markets. This move of diversifying their business lines likely contributed to their success last year.
Meitu also incorporated technological innovation in their products. For instance, Meitu’s AI (Artificial Intelligence) beauty camera can automatically adjust and enhance a user’s facial features, making them appear more beautiful.
Moreover, Meitu paid attention to the design of their apps and products, making them user-friendly and appealing to the young demographic. The apps also feature various filters and stickers that add fun to users’ social media postings.

What Is Next for Meitu?

Meitu’s financial performance in 2021 is an indication of their potential for long-term growth. The company aims to establish itself as a one-stop-shop for mobile devices, particularly for younger users, who tend to focus heavily on self-expression and social communication. As such, Meitu intends to expand its product line to include AI and cloud services and a comprehensive ecosystem that caters to its unique customer base.

FAQs

1. What is Meitu?

Meitu is a Chinese photo and video editing app developer that provides services to users worldwide. The company also makes smartphones and other related products and services.

2. What is Meitu’s financial performance in 2021?

Meitu’s revenue in 2022 was 2.0853 billion yuan, a year-on-year increase of 25.2%. Additionally, the adjusted net profit attributable to the company’s owners increased by 29.9%, and the company proposed a final dividend of HK $0.02 per share.

3. What is Meitu’s plan for the future?

Meitu aims to establish itself as a one-stop-shop for mobile devices, particularly for younger users, who tend to focus heavily on self-expression and social communication. The company plans to expand its product line to include AI and cloud services and a comprehensive ecosystem that caters to its unique customer base.

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