Meitu, the Chinese imaging and design software company, has announced impressive financial results for the first half of 2024, with a net profit of approximately CNY 273 million, marking an 80.3% year-on-year increase. The company’s financial performance demonstrates a robust growth trajectory, fueled by its expanding user base and strategic business segments.
In a report released on August 28, Meitu disclosed that its revenue for the six-month period ending June 30, 2024, reached CNY 1.62 billion, a 28.6% growth compared to the same period in the previous year. The significant boost in revenue can be attributed to a surge in income from imaging and design products, which climbed 54.5% to CNY 931 million. Additionally, advertising income climbed 18.3% to CNY 413 million.
The company’s gross profit margin also expanded, climbing to 64.9%, a 5.1 percentage point increase from the previous year, with gross profits amounting to CNY 1.05 billion, reflecting a 39.6% year-on-year growth. Meitu’s adjusted net profit, excluding one-off items, attributable to the parent company’s equity holders, was approximately CNY 2.73 billion, indicating a substantial 80.3% rise.
Investment in research and development (R&D) also increased, with expenditures reaching CNY 425 million, a 44.52% growth compared to the first half of 2023. However, the company recorded a cryptocurrency impairment loss of approximately CNY 68.1 million. Despite this, Meitu currently holds approximately USD 105.21 million in Ethereum and USD 57.95 million in Bitcoin.
Meitu’s user base has also shown resilience, with a total of 258 million monthly active users (MAUs) across its applications, a 4.3% increase from the previous year. The acceleration in user growth, particularly in markets outside mainland China, contributed to this rise, with overseas MAUs now accounting for about 32.9% of the total user base.
The company’s performance in the first half of 2024 underscores its successful diversification strategy and the appeal of its products in both domestic and international markets. Meitu’s focus on imaging and design software, along with a growing advertising business, has proven to be a winning combination, contributing to the company’s substantial financial growth.
As the global AI and mobile application market continues to evolve, Meitu’s strong financial results and expanding user base position the company well for future success. With a commitment to innovation and R&D, Meitu is likely to maintain its competitive edge in the industry, leveraging its technological advancements to cater to a broader range of consumers.
In conclusion, Meitu’s H1 2024 financial report highlights a company in a strong growth phase, with a robust bottom line and an expanding user base. As the company continues to invest in its core products and explores new markets, it remains well-poised to capitalize on the opportunities presented by the evolving digital landscape.
【source】https://www.ithome.com/0/791/825.htm
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