China’s struggling selfie king Meitu finally has a profitable year

//China’s struggling selfie king Meitu finally has a profitable year

China’s struggling selfie king Meitu finally has a profitable year

Meitu, the maker of one of China’s most popular selfie apps, has struggled for years to make money despite various attempts to diversify its business, but on Thursday, the Hong Kong-listed company posted its first full-year profit since it went public in 2016, driven in part by soaring membership subscriptions. The Xiamen-based company reported a net profit of 60.9 million yuan (US$9.3 million), with revenue growing 22.1 per cent year on year to 1.19 billion yuan in 2020. It marks a major…

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By | 2021-03-26T21:00:17+00:00 March 26th, 2021|Technology|Comments Off on China’s struggling selfie king Meitu finally has a profitable year