快手(01024) - 2022 - 中期财报

Financial Performance - Total revenue for the three months ended June 30, 2022, was RMB 21,695,148 thousand, representing a year-over-year increase of 13.4% from RMB 19,138,826 thousand in 2021[18]. - Gross profit for the same period was RMB 9,769,768 thousand, accounting for 45.0% of total revenue, compared to 43.8% in the previous year, reflecting a 16.5% increase[18]. - Operating loss for the three months was RMB (3,059,098) thousand, a significant improvement of 57.6% compared to RMB (7,215,379) thousand in the prior year[18]. - For the six months ended June 30, 2022, total revenue reached RMB 42,761,825 thousand, an 18.3% increase from RMB 36,158,276 thousand in 2021[19]. - The adjusted net loss for the six months was RMB (5,034,166) thousand, a reduction of 52.8% from RMB (10,666,739) thousand in the same period last year[19]. - The adjusted EBITDA for the six months was RMB (1,144,484) thousand, showing an improvement of 86.5% compared to RMB (8,489,028) thousand in 2021[19]. - The net loss for Q2 2022 was RMB 3.2 billion, compared to a net loss of RMB 7.0 billion in Q2 2021[66]. - The company reported a net loss of RMB 9,430,391 for the period, compared to a loss of RMB 64,785,560 in the previous period[166][167]. Revenue Breakdown - Domestic revenue for the three months ended June 30, 2022, was RMB 21,591,796 thousand, while overseas revenue was RMB 103,352 thousand[21]. - The total revenue for the six months from domestic operations was RMB 42,610,821 thousand, while overseas operations contributed RMB 151,004 thousand[27]. - Online marketing services revenue for Q2 2022 was RMB 11 billion, reflecting a 10.5% year-over-year growth[42]. - The company reported a significant increase in live streaming revenue, which reached RMB 16,407,069 thousand for the six months ended June 30, 2022, compared to RMB 14,443,829 thousand in the same period of 2021, representing a growth of approximately 13.7%[196]. - The revenue recognized at a point in time for the six months ended June 30, 2022, was RMB 41,743,781 thousand, compared to RMB 31,158,489 thousand in the same period of 2021, reflecting an increase of approximately 33.9%[197]. User Engagement - Average daily active users reached 347.3 million in Q2 2022, up 18.5% year-over-year[39]. - Average monthly active users increased to 586.7 million in Q2 2022, compared to 506.2 million in Q2 2021[35]. - Average daily usage time per active user reached 125.2 minutes in Q2 2022, up 17.1% year-over-year[40]. - The number of mutual followers on the platform exceeded 20 billion pairs, a 65.9% increase year-over-year[40]. - The monthly active users for the "Quick Recruitment" feature reached 25 million, a 90% increase from Q1 2022[44]. Cost Management - Sales and marketing expenses decreased by 22.2% year-over-year to RMB 8.8 billion in Q2 2022, representing 40.4% of total revenue[61]. - Research and development expenses fell by 16.1% year-over-year to RMB 3.3 billion in Q2 2022[61]. - Employee benefits expenses decreased to RMB 10,069,465 thousand for the six months ended June 30, 2022, down 1.5% from RMB 9,917,115 thousand in the previous year[199]. - Marketing and advertising expenses for the six months ended June 30, 2022, were RMB 16,900,661 thousand, a decline of 22.3% compared to RMB 21,711,796 thousand in the same period of 2021[199]. - Bandwidth and server hosting costs totaled RMB 3,126,454 thousand for the six months ended June 30, 2022, down 19.5% from RMB 3,883,703 thousand in the previous year[199]. Cash Flow and Liquidity - As of June 30, 2022, the company's cash and cash equivalents amounted to RMB 14.4 billion, with total available funds reaching RMB 41.3 billion[84]. - The net cash used in operating activities for Q2 2022 was RMB 2.3 billion, primarily due to a pre-tax loss of RMB 3.1 billion adjusted for non-cash items[86]. - The net cash generated from investing activities in Q2 2022 was RMB 1.8 billion, mainly due to changes in financial assets measured at fair value[87]. - The net cash used in financing activities for Q2 2022 was RMB 778.2 million, primarily for lease principal and interest payments[88]. - Cash and cash equivalents at the end of 2022 decreased to RMB 14,391,261 thousand from RMB 46,773,431 thousand in 2021, a decline of 69.3%[169]. Corporate Governance - The company has established an audit committee to oversee financial reporting processes and risk management, comprising three independent non-executive directors[145]. - The company has established a corporate governance committee to ensure compliance with listing rules and manage conflicts of interest[147]. - The company has maintained strict corporate governance standards, emphasizing effective internal controls and transparency in board operations[138]. - All directors confirmed compliance with the standard code of conduct regarding securities transactions during the reporting period[139]. - The company is committed to maintaining compliance with listing rules regarding different voting rights and share ownership[124]. Shareholder Information - As of June 30, 2022, the total issued share capital was 4,275,647,480 shares, consisting of 766,237,001 Class A shares and 3,509,410,479 Class B shares[96]. - Tencent Mobility Limited owns 506,143,854 shares, representing 14.42% of the total issued share capital[103]. - The company has a dual-class voting structure where each A-class share has 10 votes and each B-class share has one vote, allowing certain beneficiaries to exert significant control over company decisions[122]. - The company aims to align the interests of option holders with those of shareholders to promote success and enhance shareholder value[106]. - The stock options granted during the reporting period have a total of 78,967,759 options remaining unexercised as of the end of the reporting period[118].