Meitu Receives 2022 Corporate Governance Award2022-12-16
On December 16th, the Guruclub Greater China Outstanding Listed Company Awards were announced. With its leading comprehensive corporate strength and business influence, Meitu (01357.HK) won the "Annual Corporate Governance Award".
Guruclub's selection of outstanding listed companies in Greater China targets listed companies in Shanghai, Shenzhen, Hong Kong and the United States, aiming to create an index of listed companies with the most significance for investment.
Meitu (01357.HK), which has outstanding performance in multiple dimensions including corporate management, team management, risk management, information disclosure, and social responsibility, won the "Annual Corporate Governance Award" based on quantitative data analysis and an expert jury.
Sophisticated corporate governance is conducive to the continuous development and expansion of the company. It ensures healthy, stable and scientific operation of the company and enhances the overall competitiveness of the company.
For 14 years, Meitu has taken "beauty" as its core ideal and AI as the driving force, providing users with imaging products and beauty management services for their life and work, and supporting the digitalization of the industry with SaaS services.
Besides its products with national popularity, including the Meitu App, BeautyCam and MeituEve, Meitu proceeded to introduce Meitu Mac Version, Posters, Meitu AI Photo Editing and Meitu ID Photo. With powerful imaging technology, Meitu is expanding the product scope and supporting the industry with SaaS and related services.
Meitu’s revenue in the first half of 2022 increased by 20.5% year-over-year to RMB 971.2 million. Its Monthly Active Users (“MAU”) grew to 240.9 million in June 2022, 4.5% higher than that of December 2021. Its R&D expenses in the first half of 2022 increased by 2.3% year-over-year, reaching RMB 265.5 million.
Recently, the Meitu App's new AI Painting feature has drawn much attention and is popular in many countries such as Japan, the United States, Brazil, Ukraine, Canada, Australia, New Zealand, Chile and others.
The organizer of Guruclub pointed out that Meitu has shown great corporate governance the past two years. Its beauty-focused strategy refined and expanded the business scope, strengthening its monetization capability and providing a solid foundation for long-term development. As of the first half of 2022, the company has generated profits for five consecutive periods. The growing business data shows that Meitu's business strategy is coming to fruition and benefiting future development. What is more noteworthy is that the company has dedicated further attention and investment toward technological innovation in the new development stage, creating opportunities for capturing future trends and achieving explosive growth. The success of AI Painting made the market deeply aware of Meitu's potential to create more value.
The award is an encouragement. Meitu will stick to its mission to make beauty accessible through technology. Other goals include strengthening corporate governance, fulfilling social responsibility, enhancing competitiveness from multiple aspects, providing users and industries with premium services, and contributing to the construction of digital China.
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