In the first half of 2022, Meitu's revenue and monthly active users both grew in the face of various challenges.
Meitu's (01357:HK) 2022 interim results report shows that it achieved total revenue of CNY 971.2 million (USD 140.7 million) for the interim period, up 20.5% year-on-year.
Meanwhile, Meitu's revenue structure continues to be optimized, with VIP subscription business, SaaS and related businesses becoming new performance pillars. Its VIP subscription business revenue in the first half of the year grew 61.4% year-on-year to CNY 339.2 million, accounting for 34.93% of total revenue, making it the top revenue source for Meitu.
This time, Meitu announced SaaS-related business results for the first time, reporting that in H1 2022, Meitu's SaaS and related business revenue grew by 1,542.3% year-on-year to CNY 226.6 million. SaaS and related business mainly includes three major businesses, Meidede, Meitu Yifu and Meitu Yunxiu, which strongly promote the digital upgrade of the beauty and commercial imaging industry, and help upgrade the real economy through digital technology.
Meitu's monthly active users reached 240.9 million in June 2022, , up 4.5% from December 2021. Among them, Meitu had 124.7 million monthly active users, an increase of 8.7% year-on-year. As of June 2022, Meitu's apps had over 5 million VIP members, compared to over 240.9 million monthly active users.
In terms of R&D, Meitu spent CNY 265.5 million in H1 2022, up 2.3% year-over-year from H1 2021.
This company's competitors include BBHY (Chinese: 百变欢颜) and Faceu.