Meitu leads Xiamen's Internet industry at the 2022 China International Fair for Trade in Services2022-08-31
The 2022 China International Fair for Trade in Services began on the evening of August 31 in Beijing. This year, a total of 65 countries and international organizations participated in the service trade fair, and more than 1,400 enterprises participated in offline exhibitions. The fair focused on service trade trends and hot topics, and set up 9 distinct zones including telecommunications, computing, information services, and financial services, located separately in Beijing National Convention Center and Shougang Park.
2022 China International Fair for Trade in Services Xiamen Zone
Under the leadership of Xiamen Municipal Bureau of Commerce, 8 Xiamen enterprises including Meitu and Xiamen Waitu Group appeared in the Xiamen Zone of the fair, showing the strength of Xiamen's service trade from all angles and the contribution of "Xiamen power" to the development of service trade. Meitu brought its star products the Meitu App, BeautyCam, Wink, Chic, MeituEve and MeituGenius to showcase its latest achievements of empowering real economy with digital technology.
Participants at the fair were experiencing Meitu products
It is worth mentioning that this year's fair set up a special area in the China National Convention Center, exhibiting a number of excellent service trade achievements such as Digital Currency Electronic Payment, Artificial Intelligence, Air Transport Services, etc., spotlighting the achievements and contributions of China's service trade in 10 years since the 18th Party Congress. Meitu's professional skin analysis brand MeituEve was selected to be exhibited in the special area.
MeituEve at the fair
Staff showcasing MeituEve at the fair
Empower the real economy with technology innovation
Operating as a pilot city to comprehensively deepen the innovative development of trade in services, Xiamen is also a perfect example of China's service outsourcing. Over the years, Xiamen's service trade has developed domestic and international markets by insisting on innovation. As a representative enterprise in Xiamen's computer and information service industry, Meitu has always focused on the R&D and innovation of imaging technology. According to Meitu's 2022 interim results, Meitu invested RMB 265.5 million in research and development in the first half of 2022, accounting for 27.3% of its revenue in the first half of the year, an increase of 2.3% year-on-year.
Meitu's R&D investment in the first half of 2022
With leading imaging technology, Meitu continues to expand product application scenarios and empower the digital transformation of the real economy with SaaS and related services.
Meitu provides ERP service and supply chain management SaaS for their cosmetic retailers under the Meidd brand. As of the first half of 2022, Meidd has served over 10,000 cosmetic businesses in over 250 locations across China, and its supply chain business has achieved rapid revenue.
The MeituEve business provides an AI skin analysis and related SaaS solutions for skincare brands, medical aesthetic clinics and beauty salons. At present, MeituEve has been applied in 2,826 brick-and-mortar stores around the world, and has reached strategic cooperations with many well-known brands such as Dior, Shiseido and Fawa. The newly launched MeituEve V will provide users with better skin analysis services and experiences.
Meitu AI Photo Editing provides professional photo studios with a one-stop intelligent photo editing solution based on AI image technology, greatly improving the quality and efficiency of image editing.
Taking its root deep in the domestic market, Meitu is also actively promoting Chinese culture in overseas markets
Thanks to continuous product and technology innovation, Meitu has maintained steady growth in monthly active users. Meitu's MAU reached 240.9M in June 2022, an increase of 4.5% from December 2021, among them, the number of MAU of the Meitu App reached 124.7M, an increase of 8.7% from December 2021.
In the first half of 2022, Meitu launched 6 image products including Wink, Chic, Meitu Mac Version, Posters, Meitu AI Photo Editing and Meitu ID Photo, meeting users' imaging needs for both work and life scenarios.
According to the 2022 China Mobile Internet Value List released by QuestMobile, BeautyCam and the Meitu App ranked #1 in the Camera and Photo Beautification categories, respectively.
Meitu's overseas business is also growing rapidly. As of June 2022, Meitu's overseas MAU reached 69.84M, with more than 10M users in 21 countries including the United States, Brazil, Japan, Nigeria, Mexico, Canada, and Turkey, respectively. Meitu is also actively responding to the national policy to provide products and services to users in countries that are part of the "Belt and Road", doing business in Vietnam, Philippines, Indonesia, Pakistan and Saudi Arabia.
Using a number of localization strategies that include cooperation with local brands, Meitu products have gradually increased their presence in overseas markets to achieve growth in terms of revenue and number of users.
Meitu is making efforts to promote Chinese culture. The "Traditional Colors" launched by the Meitu App, one of Meitu's products, are helping young people around the world better understand China's unique traditional culture and ideals by combining traditional Chinese colors and fashion. The Oriental Makeup Looks from BeautyCam was popular among users from Japan and Korea.
The Meitu App's Traditional Colors filters
BeautyCam's Twenty-Four Solar Terms Makeup Looks
In addition, Meitu's SaaS and related services have also achieved initial success overseas. MeituEve provided AI skin analysis services for Japan's Shiseido Group, Ireland's efficacy laboratory CE.Way, Japan's efficacy skin management agency Angelux, South Korea's Digilog and other institutions, while MeituGenius provided virtual makeup trial features for global brands including Givenchy.
Panoramic AI skin analysis system MeituEve V
AR makeup trial product MeituGenius
As the vanguard of Xiamen's computer and information service industry, Meitu's appearance at the fair will contribute to the increase of brand influence and international competitiveness of "Xiamen Service" and "Made in Xiamen". Continuing to contribute to Xiamen's striving to become a national sports consumption demonstration city.
During this service trade fair, Meitu also participated in various forums, conferences and activities, discussed hot topics in China's service trade with Chinese and foreign scholars, experts, and industry professionals. In the future, it will continue to keep in touch with global trade enterprises, associations and investment institutions for shared development.