#Meitu Announces Increased Revenue and Profit for 2022

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 technology company known for developing photo editing and social networking apps, recently announced its financial results for 2022. According to reports, the company’s revenue for the year will be 2.0853 billion yuan, which represents a year-on-year increase of 25.2%. Meitu’s net profit attributable to the owner of the company was 94.1 million yuan, which was the first time the company achieved a full year profit. Furthermore, the company’s adjusted net profit attributable to the company’s owners reached 110.5 million yuan, a year-on-year increase of 29.9%. The company has also proposed a final dividend of HK$0.02 per share.
##Overview of Meitu’s Financial Performance
###Revenue Growth
According to the financial statement released by Meitu, the company’s revenue for the fiscal year 2022 was 2.0853 billion yuan. This represented a 25.2% increase from the previous fiscal year, where the company generated 1.6632 billion yuan in revenue.
###Net Profit
For the year 2022, Meitu’s net profit attributable to the owner of the company was 94.1 million yuan. This was the first time that Meitu achieved a full year profit after several years of losses.
###Adjusted Net Profit
Meitu’s adjusted net profit attributable to the company’s owners reached 110.5 million yuan, a year-on-year increase of 29.9% compared to the previous year’s figure of 84.9 million yuan.
###Dividend Proposal
Meitu has proposed a final dividend of HK$0.02 per share, which translates to HK$109.5 million in total dividend payout.
##What Contributed to Meitu’s Improved Financial Performance?
###Strong Revenue Growth from Social Networking Sector
Meitu has been branching out into the social networking sector, which includes its augmented reality-powered photo editing app, MeituPic. The app has gained popularity among users, especially in the Asian market. As a result, Meitu’s social networking sector has been experiencing strong revenue growth.
###Cost-Cutting Measures
Meitu has also introduced cost-cutting measures to reduce its expenses, which has contributed to the company’s improved profitability. The company has been optimizing its research and development expenditures and reducing its marketing and advertising expenses. Additionally, the company has been investing more in its product development and capabilities, which has resulted in improved product offerings and satisfied customers.
###Diversification of Revenue Streams
Meitu has been diversifying its revenue streams by partnering with various brands and launching new products. The company’s latest product offerings include a lipstick modeled after the company’s iconic logo and smart wearables aimed at fitness enthusiasts. These initiatives have helped Meitu to generate new revenue streams and reach a wider audience.
##Conclusion
Meitu’s financial performance for 2022 has been impressive, with the company achieving a full year profit for the first time. The company’s cost-cutting measures, diversification of revenue streams, and strong revenue growth from its social networking sector have all contributed to its improved profitability. Meitu’s focus on product development and innovation has helped the company to remain competitive in a rapidly evolving market.
###FAQs
1. What is Meitu known for?
Meitu is a Chinese technology company known for developing photo editing and social networking apps.
2. Has Meitu ever achieved a full year profit before?
No, 2022 is the first year that Meitu has achieved a full year profit.
3. What contributed to Meitu’s improved financial performance?
Meitu’s strong revenue growth from its social networking sector, cost-cutting measures, and diversification of revenue streams contributed to its improved financial performance.
###Keywords
Meitu, financial performance, revenue growth, net profit, adjusted net profit, dividend, social networking, cost-cutting measures, diversification, product development.