Meitu released 2021 financial report: VIP subscription and imaging SaaS business increased by 146.9% year-on-year, VIP members reached about 4 million – DoNews

DoNews March 30 (Zhai Jiru) Meitu disclosed its 2021 annual performance report, showing that during the reporting period, the company achieved total revenue of RMB 1.666 billion and gross profit of RMB 1.1251 billion, up 39.5% and 41.7% year-on-year respectively; The adjusted net profit attributable to the owners of the parent company was RMB 85.1 million, a year-on-year increase of 39.7%, achieving two consecutive years of adjusted net profit.

In terms of specific businesses, the revenue of online advertising business in 2021 will increase by 12.5% ​​year-on-year to RMB 765.8 million; the revenue of VIP subscription and imaging SaaS business will increase by 146.9% year-on-year to RMB 519.5 million in 2021; IMS (Daren Content Marketing Solutions) and other Business revenue increased by 20% year-on-year to RMB 299.0 million, of which IMS business accounted for 86.3%; in addition, Internet value-added services increased by 51.9% year-on-year to RMB 81.67 million.

It is worth mentioning that Meitu’s SaaS business is growing rapidly. In December 2021, Meitu will further acquire and control Midea. From January 2022, Meitu’s financial results will be consolidated into Meitu’s financial statements. Data shows that Midea has provided ERP SaaS solutions for more than 11,500 cosmetics stores in more than 250 cities in China, and serves the vast number of cosmetics retailers in China by providing merchant services and SaaS products. Midea’s supply chain business revenue in 2021 will increase by more than 4 times compared with 2020.

In addition, as of December 2021, Meitu Yifu’s flagship panoramic skin detector has landed in 248 cities and more than 2,680 offline stores around the world. At present, it has reached strategic cooperation with many well-known brands including Christian Dior, Shiseido, and Fan Wenhua. According to reports, Meitu Yifu is planning to launch a second-generation skin detector.

Yan Jinliang, CFO and company secretary of Meitu, said, “In 2021, Meitu’s imaging-related business has made exciting progress, mainly from the more native business model of VIP subscription and imaging SaaS business. At the same time, We are also actively expanding the imaging SaaS business that focuses on work scenarios, and successively released a number of new products. In addition, Midea, which has just completed consolidation in January this year, also showed very rapid revenue growth in the changing beauty SaaS business. I believe in the future The business based on the imaging SaaS strategy and the US industry SaaS strategy will provide Meitu with more revenue growth momentum in 2022 and continue to create value for shareholders.”

In terms of operational data, as of December 2021, Meitu had about 4 million VIP members, more than double the level at the end of 2020; according to data from the online press conference of the Meitu Video Festival in March this year , Meitu has about 4.5 million VIP members worldwide.

When talking about the growth of VIP users, Meitu CEO Wu Xinhong said that based on Meitu’s long-term accumulation of AI technology image processing capabilities, it has satisfied users with many advanced services such as image beautification, photo photography, video beautification, etc., thus promoting VIP membership. increasing numbers.

In terms of core technical barriers, the financial report data shows that Meitu’s R&D investment in 2021 will reach RMB 545.5 million, a year-on-year increase of 35%. It has extended Meitu Imaging Research Institute (MT Lab), Meitu AI Open Platform ( Meitu AI Open Platform).