Financial Performance - The company achieved its first annual profit since its IPO, with a net profit attributable to shareholders of RMB 94.1 million, compared to a net loss of RMB 44.5 million in 2021[4]. - Revenue increased by 25.2% year-on-year to RMB 2.085 billion, with VIP subscription business being the largest revenue source at RMB 782.2 million, a growth of 57.4%[6]. - The adjusted net profit attributable to shareholders was RMB 110.5 million, representing a year-on-year increase of 29.9%[6]. - Total revenue for the year ended December 31, 2022, increased to RMB 2.085 billion, a 25.2% increase from RMB 1.667 billion for the year ended December 31, 2021, primarily driven by robust growth in VIP subscription and SaaS-related businesses[20]. - The company reported a net profit of RMB 18.891 million for the year, a significant recovery from a loss of RMB 77.430 million in the previous year[19]. - The company reported a net profit before tax of RMB 175.230 million for the year ended December 31, 2022, compared to a loss of RMB 10.935 million in 2021[77]. User Engagement and Growth - Monthly active users (MAUs) grew by 5.3% year-on-year, reaching 242.9 million as of December 2022[7]. - The number of monthly active users for the flagship app Meitu Xiu Xiu increased by 13.0% to 129.6 million[7]. - As of December 2022, Meitu Xiuxiu held approximately 53% market share in the mobile image editing market, up from 47% in 2021, with 242.9 million monthly active users showing a year-on-year growth rate of 5.3%[9][11]. Revenue Streams - The VIP subscription business has become the largest revenue source for the company, with high gross margins expected to continue growing, driven by an increase in paid subscribers and average revenue per paid user[10]. - SaaS revenue grew significantly by 1,093.2% to RMB 462.9 million, driven by the acquisition of a business providing ERP and supply chain management solutions to over 11,000 cosmetics stores in China[6]. - VIP subscription revenue grew by 57.4% to RMB 782.165 million, accounting for 37.5% of total revenue, with over 5.6 million VIP users and a paid penetration rate of approximately 2.3%[22]. - SaaS and related business revenue surged by 1,093.2% to RMB 462.907 million, largely due to the acquisition of Meidede, which provides ERP SaaS solutions to over 11,000 cosmetics retailers[24]. Investment and Future Plans - The company plans to continue investing in artificial intelligence and expand productivity applications to meet work-related needs, aiming to drive higher MAUs and paid penetration rates[5]. - The company aims to become the largest global provider of image and video productivity software and subscription services, focusing on digital transformation in the beauty industry through SaaS solutions[9]. - The company plans to enhance its work-related products, such as Meitu Design Studio, which has shown 60-70% higher average revenue per paid user compared to social-focused applications[12]. - The company plans to introduce more high-margin niche products to enhance profitability in the SaaS segment as customer numbers and average purchase volumes increase[19]. Financial Health and Liquidity - Cash and cash equivalents increased to RMB 946,602,000 in 2022 from RMB 738,732,000 in 2021, reflecting a growth of about 28%[40]. - Total current financial resources, including cash and short-term investments, rose to RMB 1,390,031,000, compared to RMB 1,258,191,000 in 2021, marking an increase of approximately 10%[40]. - The company maintained a healthy liquidity position, closely monitoring its cash flow and financial resources to meet ongoing funding needs[41]. - The company’s total liabilities rose to RMB 1,294,834 thousand in 2022 from RMB 1,231,512 thousand in 2021, indicating an increase in financial obligations[63]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.02 per share, with a payout ratio of approximately 70.6% based on the adjusted net profit attributable to shareholders[5]. - The board proposed a final dividend of HKD 0.02 per share, totaling approximately HKD 88,900,000 (around RMB 78,000,000), marking the first dividend since the company's IPO[46]. - The dividend payout ratio for the year was approximately 70.6% of the adjusted net profit attributable to the company's owners[46]. Operational Efficiency - Operating costs increased by 66.0% to RMB 898.1 million for the year ended December 31, 2022, compared to RMB 540.9 million in 2021[28]. - Research and development expenses rose by 7.5% to RMB 586.4 million for the year ended December 31, 2022, compared to RMB 545.5 million in 2021[30]. - Sales and marketing expenses increased by 3.1% to RMB 403.1 million for the year ended December 31, 2022, up from RMB 391.0 million in 2021[31]. Strategic Acquisitions and Investments - The company acquired approximately 20.67% equity in Meidede for a total consideration of approximately RMB 79.74 million, increasing its ownership to approximately 63.35%[58]. - The company invested approximately USD 100 million in cryptocurrencies, acquiring 31,000 units of Ethereum and 940.88523 units of Bitcoin, with a fair value of approximately USD 37.3 million and USD 15.6 million respectively as of December 31, 2022[55]. - The company plans to continue seeking strategic investment opportunities to enhance synergies in technology development, product research, and market expansion[57]. Compliance and Governance - The company confirmed compliance with the corporate governance code applicable as of December 31, 2022[102]. - The audit committee reviewed the financial statements for the year ended December 31, 2022, confirming they were prepared in accordance with applicable accounting standards[104].
美图公司(01357) - 2022 - 年度业绩