Mito has released its 2016 financial report today, which is also the first financial report after its listing.
According to the financial report, Meitu's total revenue in 2016 was 1,578.6 billion yuan, an increase of 112.8% year-on-year, but the loss amounted to 62.609 billion yuan, a 1.8-fold increase from the previous year's 2.217 billion yuan, and the elimination of certain non-cash or non-recurring expenses The adjusted net loss amounted to 540.5 million yuan, a year-on-year decrease of 23.9%.
Smart hardware, in particular, became Meitu's largest source of revenue, reaching 1.473 billion yuan, an increase of 120.9% year-on-year and accounting for 93.3% of total revenue.
In 2016, Meitu mobile phone sales were 748,256 units, and 2015 was 387,775 units, an increase of 93% year-on-year.
As of December 2016, the total number of active users in Meitu Monthly reached 450 million, a year-on-year increase of 21%, of which 360 million people were in the Mainland, up 12.2% year-on-year, and 86.4 million overseas, up 79.2% year-on-year; total users increased in January 2017 To 520 million, an increase of 32%.
At the end of 2016, Mito users uploaded more than 510 million videos, including individuals, online reds, production teams, institutions, and companies; and handled more than 68 billion photos.
After the publication of the financial report, Cai Wensheng, founder and chairman of Mito, stated that Mito is underestimated in terms of users, revenue, and losses. In the future, advertising and e-commerce will develop better than smart hardware.
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