Core Viewpoint - Meitu's revenue growth has significantly slowed in the first half of 2025 compared to previous years, despite still achieving double-digit growth in both revenue and net profit [2][3]. Financial Performance - In the first half of 2025, Meitu reported a revenue of 1.82 billion RMB, a year-on-year increase of 12.3%, and a net profit of 397 million RMB, reflecting a 30.8% growth [3][5]. - Adjusted net profit reached 467 million RMB, marking a substantial increase of 71.3% compared to the previous year [3]. Revenue Breakdown - The revenue from imaging and design products was 1.35 billion RMB, showing a significant increase of 45.2% year-on-year, while advertising revenue grew by 5% to 433 million RMB [3][4]. - Revenue from beauty industry solutions plummeted by 88.9% to 30 million RMB, and other revenues decreased by 12.4% to 6 million RMB [3][4]. Business Focus and Strategy - Meitu has shifted its focus towards core imaging and design products, which accounted for 74.2% of total revenue in the first half of 2025, up from 57.4% in the previous year [4][5]. - The company has reduced its non-core business activities, particularly in the beauty industry solutions segment, which saw a significant decline in revenue [4][6]. User Engagement and Growth - As of June 30, 2025, Meitu's global monthly active users reached 280 million, an increase of 8.5% year-on-year, with paid subscription users growing over 42% to 15.4 million [6]. - The paid user penetration rate stands at 5.5%, contributing to the overall revenue growth [6]. Profitability Metrics - Meitu's gross profit for the first half of 2025 was 1.34 billion RMB, a year-on-year increase of 27.3%, with the gross margin rising from 64.9% to 73.6% [6].
美图秀秀母公司 日赚260万