Financial Performance - Adjusted net profit attributable to parent company equity holders reached approximately RMB 370 million, a year-on-year increase of 233.2%[3] - Total revenue increased by 29.3% year-on-year to approximately RMB 2.7 billion[3] - Adjusted net profit attributable to equity holders of the parent company reached RMB 368.3 million, a year-on-year increase of 233.2%[8] - Total revenue for 2023 was RMB 2,695.7 million, up 29.3% year-on-year[8] - Gross profit for 2023 was RMB 1,655.9 million, compared to RMB 1,187.3 million in 2022[12] - Net profit for the year was RMB 366.4 million, compared to RMB 18.9 million in 2022[12] - Total revenue for the fiscal year ending December 31, 2023, increased by 29.3% to approximately RMB 2,695.7 million, compared to RMB 2,085.3 million in 2022[13] - Revenue increased to RMB 2,695,738 thousand in 2023, up 29.3% from RMB 2,085,329 thousand in 2022[63] - Gross profit rose to RMB 1,655,876 thousand in 2023, a 39.5% increase from RMB 1,187,272 thousand in 2022[63] - Net profit attributable to owners of the parent company surged to RMB 378,293 thousand in 2023, compared to RMB 94,142 thousand in 2022[63] - Total revenue for 2023 reached RMB 2,695,738 thousand, a 29.3% increase from RMB 2,085,329 thousand in 2022[75] User Growth and Engagement - Monthly active users (MAU) reached approximately 250 million, a year-on-year increase of 2.6%[3] - Paid subscription users increased by 62.3% year-on-year to 9.11 million[3] - MAU for productivity applications increased by 74.3% year-on-year to 17.66 million[6] - The company's app had over 9.11 million paid subscribers by the end of 2023, with a paid penetration rate of 3.7%, a 62.3% increase from 2022[15] AI and Technology - Approximately 83% of the billions of images and videos processed daily by users utilize AI features[3] - The company plans to launch more generative AI features for image and video scenarios in 2024[3] - Strategic collaboration with Zcool to enhance the market influence of visual designers and build an ecosystem around generative AI[3] - Approximately 83% of content processed daily by users is powered by AI[8] - The AI-generated product images feature in Meitu Design Studio has generated over 130 million AI product images by the end of February 2024[16] - R&D expenses increased to RMB 635.5 million in 2023 from RMB 586.4 million in 2022[12] - R&D expenses increased by 8.4% year-on-year to approximately RMB 635.5 million in 2023, primarily due to increased investment in AI-related technologies[25] - Research and development expenses increased to RMB 635,484 thousand in 2023, up 8.4% from RMB 586,365 thousand in 2022[63] Product and Service Revenue - Revenue from imaging and design products increased by 52.8% year-on-year to RMB 1.33 billion[4] - Revenue from Imaging and Design Products grew by 52.8% to RMB 1,327.4 million, accounting for 49.2% of total revenue[14][15] - Revenue from image and design products outside mainland China accounted for over 50% of the total revenue in 2023[10] - Revenue from Imaging and Design Products grew significantly to RMB 1,327,384 thousand in 2023, up 52.8% from RMB 868,763 thousand in 2022[75] - Revenue from Beauty Solutions increased by 29.1% to RMB 569.2 million, driven by growth in cosmetics supply chain management services[19] - Beauty Solutions revenue rose to RMB 569,158 thousand in 2023, a 29.1% increase from RMB 441,007 thousand in 2022, driven by sales of cosmetics and smart hardware products totaling RMB 544,002 thousand[76] - Advertising revenue increased by 20.5% year-on-year to approximately RMB 758.8 million in 2023, compared to RMB 629.9 million in 2022[21] - Advertising revenue increased to RMB 758,790 thousand in 2023, a 20.5% rise from RMB 629,902 thousand in 2022[75] Acquisitions and Investments - Meitu acquired Zcool Network Technology Limited, which has over 17 million registered users and operates China's largest copyright image and video trading platform[10] - The company acquired Zcool in February 2024 to enhance its imaging and design ecosystem[16] - Meitu Investment agreed to acquire Zcool Group for a total consideration of 2.14 million (approximately HKD 16.75 million) to be paid to option holders[62] - Upon completion of the Zcool acquisition, Zcool will become an indirect wholly-owned subsidiary of the company, and its financial performance will be consolidated into the group's financial statements[62] - The company agreed to acquire Zcool Network Technology Limited for USD 39.64 million (approximately RMB 281,410 thousand), with USD 17.784 million paid in shares and the remainder in cash[110] - The company completed the acquisition of Ruicheng Tianhe, making it a wholly-owned subsidiary, following the triggering of a buyback clause due to the failure to meet listing requirements[54][55] - The company sold approximately 20% of its stake in Dajie Net for 22 million, with investors including Eight Roads, FutureX A7, FutureX ICT, and the company itself subscribing to 19,734,483 Series A preferred shares[58] - Post-financing, the company's ownership in Pixocial decreased from 100% to approximately 80.62% on a fully diluted basis[59] - Pixocial adopted an equity incentive plan (Pixocial Option Plan) reserving 7,642,626 ordinary shares for employees, directors, and consultants, with 1,910,657 options granted to key executives[59] - The company sold 20% of its stake in subsidiary Dajie Net Investment Holdings Ltd. for 71.23 million and $39.91 million, respectively, as of December 31, 2023[51] - The company owns a 23.81% stake in Shenzhen Hujia Technology Co., Ltd., with a registered capital of RMB 1.4 million[52] - The company's non-current assets in China as of December 31, 2023, amounted to RMB 686,934,000, a decrease from RMB 766,420,000 in 2022[74] - Non-current assets in other countries or regions as of December 31, 2023, were RMB 648,706,000, up from RMB 368,173,000 in 2022[74] Dividends and Shareholder Information - The company proposed a final dividend of HKD 0.036 per share for 2023, totaling approximately HKD 161.2 million[46] - The company's dividend payout ratio for 2023 was approximately 40.2% based on adjusted net profit attributable to equity holders of the parent company[46] - The company declared a final dividend of RMB 81,395 thousand for the year ended December 31, 2023, and proposed a final dividend of RMB 146,256.3 thousand for the same period, pending shareholder approval[102] - The company's annual general meeting is scheduled for June 5, 2024, with a notice to be issued and distributed to shareholders in accordance with listing rules[119] - The company will suspend share transfer registration from May 30 to June 5, 2024, to determine the list of shareholders entitled to attend and vote at the annual general meeting[119] - The company will suspend share transfer registration from June 12 to June 14, 2024, to determine shareholders eligible to receive the final dividend, subject to approval at the annual general meeting[120] - The company's annual results announcement and annual report for the year ended December 31, 2023, will be published on the Hong Kong Stock Exchange and company websites and distributed to shareholders[121] Corporate Governance and Leadership - Cai Wensheng resigned as executive director and chairman on June 1, 2023, to focus on personal business commitments, with the company expressing gratitude for his contributions[122] - The company's executive directors include Mr. Wu Zeyuan (also known as Mr. Wu Xinhong)[123] - Non-executive directors include Dr. Guo Yihong, Dr. Kai-Fu Lee, Mr. Chen Jiarong, and Mr. Hong Yupeng[123] - Independent non-executive directors include Mr. Zhou Hao, Mr. Lai Xiaoling, and Ms. Kui Yingchun[123] - The announcement contains forward-looking statements regarding the company's business outlook, financial performance estimates, and development strategies[123] - These forward-looking statements are based on current information and assumptions, which may involve subjective factors or factors beyond the company's control[123] - The forward-looking statements involve risks and uncertainties, and shareholders and potential investors should not overly rely on them[123] Other Financial Information - Other income decreased by 72.3% year-on-year to approximately RMB 40.4 million in 2023, down from RMB 145.7 million in 2022, due to the sale of the IMS business[22] - Impairment losses on cryptocurrencies were reversed by approximately RMB 270 million in 2023, with RMB 170 million for Bitcoin and RMB 94.8 million for Ethereum[28] - Intangible asset impairment losses amounted to approximately RMB 155.3 million in 2023, related to goodwill impairment in the beauty solutions segment[29] - Total cash and cash equivalents decreased to RMB 640,629 thousand in 2023 from RMB 946,602 thousand in 2022[38] - Adjusted net profit attributable to equity holders of the parent company increased to RMB 368,297 thousand in 2023 from RMB 110,543 thousand in 2022[36] - Capital expenditures for property and equipment decreased to RMB 47,363 thousand in 2023 from RMB 65,231 thousand in 2022[42] - Total investments in financial assets measured at fair value through profit or loss increased to RMB 344,942 thousand in 2023 from RMB 98,321 thousand in 2022[43] - The company's cash and other liquid financial resources remained stable at RMB 1,404,438 thousand in 2023 compared to RMB 1,390,031 thousand in 2022[38] - The company did not hedge any foreign currency fluctuations during 2023 and 2022[44] - The company's restricted deposits for operational expenses remained unchanged at RMB 300,000 thousand in 2023[45] - The company's share premium account balance was approximately RMB 7,093.8 million as of December 31, 2023[47] - The company's statutory share capital consists of 6,000,000,000 ordinary shares with a par value of USD 0.00001 each as of December 31, 2023[96] - Trade and other payables totaled RMB 735,209 thousand as of December 31, 2023, compared to RMB 734,098 thousand in 2022, with a significant increase in platform payments for agency services to RMB 244,876 thousand from RMB 80,984 thousand[100] - Trade payables aged within 6 months amounted to RMB 98,990 thousand as of December 31, 2023, slightly up from RMB 96,170 thousand in 2022[101] - Pixocial Holdings Ltd issued 17,043,417 Series A redeemable convertible preferred shares at USD 1.1148 per share, totaling USD 19 million (approximately RMB 134,571 thousand) on December 1, 2023[103] - Series A preferred shareholders are entitled to a special dividend if Pixocial meets the net profit requirements specified in the shareholder agreement[104] - Series A preferred shares will automatically convert into ordinary shares upon a qualified IPO or as approved by the Pixocial board, with a conversion price based on the then-effective Series A conversion price[105] - Series A preferred shareholders can request redemption if a qualified IPO or sale transaction is not completed within four years of the initial closing date, or under other specified conditions[106] - In the event of liquidation, Series A preferred shareholders have priority over ordinary shareholders to receive distributions equal to 100% of the original issue price plus 8% annual simple interest[107] - The sale of Dajie Net resulted in a net cash outflow of RMB 5,486 thousand after deducting the cash and cash equivalents of Dajie Net[111] - The company fully utilized the net proceeds of approximately HKD 4,988 million from its 2016 IPO, with no changes to the intended use of funds as disclosed in the prospectus[118]
美图公司(01357) - 2023 - 年度业绩