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Meitu’s 2022 Revenue Surges by 25.2%: Company Achieves First Full-Year Profit

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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

Meitu’s 2022 Revenue Surges by 25.2%: Company Achieves 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 leading Chinese photo editing app and smartphone manufacturer, recently reported a 25.2% year-on-year increase in its revenue for 2022. The company also achieved its first full-year profit since going public. Meitu’s net profit attributable to the owner of the company was 94.1 million yuan, while the adjusted net profit was 110.5 million yuan, a 29.9% increase from the previous year. The Hong Kong Stock Exchange-listed company has proposed a final dividend of HK$0.02 per share.

Introduction

Tech companies are making waves in the world, with their rapid growth and impact on people’s lives. One such company, Meitu, has recently announced stellar results for 2022. The Chinese photo editing app and smartphone manufacturer has achieved a significant milestone by reporting its first full-year profit.

Meitu’s Revenue and Profits

On March 30, Meitu announced that it had a revenue of 2.0853 billion yuan in 2022, showing a year-on-year growth of 25.2%. The remarkable growth in revenue has been attributed to the company’s expansion of its photo editing app to overseas markets and the launch of new smartphone models.
The net profit attributable to the owner of the company was 94.1 million yuan, showing a significant improvement from the net loss that the company had incurred in the previous year. The adjusted net profit attributable to the company’s owners was also impressive as it reached 110.5 million yuan, a year-on-year increase of 29.9%.
One of the primary reasons for the surge in profits was Meitu’s decision to focus on its core business, which is photo editing software. The company increased its investment in research and development, improved its sales and marketing strategies, and made its app more user-friendly. These measures resulted in a steady growth of users and increased revenue.

Proposed Final Dividend

Following the positive results, Meitu announced that it would pay a final dividend of HK $0.02 per share. The company aims to provide returns to its shareholders while continuing its growth trajectory.

Meitu’s Future Prospects

Meitu is optimistic about its future prospects and is planning to expand aggressively in overseas markets. The company has already launched its photo editing app in more than 100 countries, including the United States, Brazil, and Japan. It has also launched new smartphone models that are targeted at users who are passionate about photography and social media.
In 2021, Meitu announced that it would pivot away from its smartphone business and focus more on software services, which it believes can generate more revenue. By aligning its resources with its core competencies, Meitu has emerged as a strong player in the photo editing and sharing market.

Conclusion

Meitu’s surge in revenue and profits is a testament to its successful business strategy. By focusing on its core competencies, the company has been able to generate higher returns for its shareholders while expanding its presence in overseas markets. With stable growth in its core businesses, Meitu is well-positioned to continue its upward trajectory.

FAQs

1. What is Meitu’s core business?
Meitu’s core business is developing photo editing software and smartphone accessories.
2. What factors contributed to Meitu’s growth in revenue?
Meitu’s growth in revenue resulted from its increased focus on its core business, the expansion of its photo editing app to overseas markets, and the launch of new smartphone models.
3. What is Meitu’s proposed final dividend?
Meitu’s proposed final dividend is HK $0.02 per share.

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