Meitu at the 5th Digital China Summit: Empower the real economy with digital technology2022-07-22
On July 22nd, 2022, the 5th Digital China Summit was held in Fuzhou, China. Meitu presented Wink, Meitu AI Photo Editing, MeituEve and other popular products to showcase the latest achievements of its efforts to empower the real economy with digital technology.
As an important window for various fields and industries to showcase their achievements in digital development, the Digital China Summit mainly manifests new breakthroughs and the progress of digitalization in technology and in the economy in response to the major needs of the Chinese nation and its people's aspirations for a better life.
As a leading Internet technology company in China, Meitu participated in the summit for the fifth consecutive time. Previously, its skin analysis systems MeituEve and MeituGenius were presented at the summit, as well as its innovative features such as Animation, AR makeup and AR skin analysis, all of which received a lot of attention.
Meitu's Wink assists with incubating short videos
The key product that Meitu brought to this summit was Wink, a video editing software for creating short videos.
With the Chinese short video industry booming, Wink was born as part of an effort to satisfy rapidly growing demand. By inheriting the retouching gene of the Meitu App, and supported by Meitu's patented video facial recognition and retouching technology, Wink is able to provide users with refined retouching features that allow users to edit videos the same way they edit photos. It fulfills users' wishes when it comes to editing videos, and delivers "dynamic beauty" to them.
Wink is one of the key products that is part of Meitu's imaging strategy of acquiring market share to give it an edge in the competition among video products, and Wink is also strategically important for improving the user service experience.
Empowering the real economy with digital technology
At this summit, Meitu AI Photo Editing, Meitu's one-stop post-processing offering for commercial photography, once again attracted a lot of attention.
As consumption upgrades become an unstoppable trend, the commercial photography market is showing great potential and opportunity. As demand rises, the efficiency and quality of traditional photo editing are facing great challenges. Consumers are also increasingly asking for personalized results, which means that the industry must use a smarter solution.
Based on Meitu's accumulated technology and profound understanding of users' aesthetics, Meitu AI Photo Editing has been launched to help combine art and technology, reduce cost while improving efficiency, and also expand Meitu's services to scenarios involving work.
In addition to imaging services, Meitu is also actively developing its SaaS services that are helping with the digital upgrade of the industry. MeituEve is one of the representatives of Meitu's SaaS services. Using the imaging technology and the AI skin analysis algorithm from Meitu's R&D hub MT Lab, MeituEve offers both online and offline skin analysis services for brands and institutions. It has proven effective in growing customer flow, reducing costs and increasing conversion rates. It has also complemented Meitu's beauty strategy as it expands its "beauty" service from the virtual world to the real world.
Developing itself and contributing to the industry
During the past year, Meitu has achieved breakthroughs in both imaging and beauty services, with rapid growth in its VIP subscriptions and SaaS businesses, all while gradually achieving diversified revenue and ushering in rapid growth in its overall business. While achieving its own development, Meitu is also seeking shared success with the industry.
According to Wu Xinhong, the founder and CEO of Meitu, since 2020 the company's strategy has been focused on imaging services by adding "to B" products to its layout, and at the same time it has been contributing to the industry by introducing SaaS services such as the aforementioned Meitu AI Photo Editing and MeituEve. Its ace product, the Meitu App, has been putting forth new ideas and witnessing rapid growth in its VIP subscription business.
As a technology company that takes beauty as its core ideal, Meitu is one of the representative technology enterprises in Fujian province. It surprises the industry every year at the Digital China Summit with new achievements, demonstrating its ability to empower traditional industries with digital technology. Meitu keeps an open mind in communicating with its fellow travelers in the hope of contributing to the real economy with digital and intelligent solutions and completing the digitalization of the industry together.