Chinese internet company Meitu sees 39.5 pct increase in revenue in 2021-Xinhua

A staff member of Meitu introduces the company’s development at Xiamen Software Park in Xiamen, southeast China’s Fujian Province, Aug. 3, 2017.(Xinhua/Jiang Kehong)

XIAMEN, March 31 (Xinhua) — Chinese internet company Meitu on Wednesday reported nearly 1.67 billion yuan (about 262.4 million U.S. dollars) in revenue in 2021, up 39.5 percent year on year.

Meitu also recorded an adjusted net profit of 85.1 million yuan, marking its second consecutive full-year of profitability in terms of adjusted net profit.

The company attributes the encouraging results in its annual report to VIP subscription services and image software-as-a-service (SaaS) businesses, which grew 146.9 percent year-on-year.

Founded in October 2008, Meitu is an AI-driven technology company that aims to “beautify” users with its image products and beauty management services, and to assist with the digital transformation of the beauty industry by providing SaaS services.

According to the company, Meitu had around 4 million VIP customers globally at the end of 2021, more than double the level at the end of 2020. 

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