China's Meitu sees 25.2 percent revenue growth in 2022

By Fu MinLi Baojie

XIAMEN, March 30 (Xinhua) -- Chinese internet company Meitu on Thursday said it generated over 2.08 billion yuan (about 302 million U.S. dollars) in revenue in 2022, up 25.2 percent year on year.

Meitu recorded an adjusted net profit of 111 million yuan last year, up 29.9 percent year on year.

Meitu's VIP subscription service saw strong growth last year amid surging demand for AI-generated content, achieving a revenue of 782 million yuan, up 57.4 percent, according to the company's annual report.

Its revenue from the image software as a service (SaaS) business totaled 463 million yuan, and the revenue from online advertising hit 596 million yuan.

Founded in October 2008, Meitu is an AI-driven technology company that aims to "beautify" users with its image products and beauty management services.

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