management presentation · daily user-generated content upload in dec 2018 daily pv trend 500 k % 0...
TRANSCRIPT
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Management Presentation
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Disclaimer
This announcement contains forward-looking statements relating to the business outlook, estimates of financial
performance, forecast business plans and growth strategies of the Group. These forward-looking statements are based
on information currently available to the Group and are stated herein on the basis of the outlook at the time of this
announcement. They are based on certain expectations, assumptions and premises, some of which are subjective or
beyond our control. These forward-looking statements may prove to be incorrect and may not be realised in future.
Underlying these forward-looking statements are a large number of risks and uncertainties. In light of the risks and
uncertainties, the inclusion of forward-looking statements in this announcement should not be regarded as
representations by the Board or the Company that the plans and objectives will be achieved. Furthermore, this
announcement also contains statements based on the Group’s management accounts, which have not been audited or
reviewed by the Auditor, Shareholders and potential investors should therefore not place undue reliance on such
statements.
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Strategy and business model
A New Strategy in A New Decade
Provide users with continuous satisfaction
E-commerce
Ad platform
Social platform
Camera app
Big data
Smarthardware
Value-addedservices
3
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2018 2019 2020 2021
50 m
100 m
150 m
200 m
MAU
59.59m
200m
Meitu community growth target
4
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Daily user-generated
content upload in Dec
2018
Daily PV trend
500k %
0
10000000
20000000
30000000
40000000
2018-12-01 2018-12-31 2019-01-30
30 mn
5
Accumulated PV in Dec
2018
8 bn
Significant growth in page view on community
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Make-up Food
6
Anime Travel Fun
Various content categories on community
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Enabling physical cosmetics stores to
offer virtual make-ups, facial analysis,
skin test, and make-up
recommendations through Meitu's AR
technology
Improve sale efficiency and channel
online to offline stores
Pilot clients:Sephora, Clarins, Shiseido,
Make Up For Ever, DFS, Dolce & Gabbana
Beauty7
New ad format- MEITUGENIUS
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Revenue from Internet business
36% 36%
43%41%
51% 49%
65%
Advertising is the main revenue driver
8
2017Q1 2017Q2 2017Q3 2017Q4 2018Q1 2018Q2 2018Q3 2018Q4
Advertising IVAS
36% 36%
43%41%
51% 49%70%
76%
Proportion of Advertising Revenue
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-
50
100
150
200 2017 revenue(mn) 2018 revenue(mn) YoY growth
281%
9
254%173%
305%
270%
55%
51%
49%
China KA advertising revenue distribution by verticals
Verticals with the highest revenue growth rate for 2018:
Cosmetics & skincare, Maternal & Baby Products, Web Services, Finance, and Medical Services
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Advertisers (brand)
2018 Number of advertisers
2018
ARPA (m)
2018 advertising revenue
Number of customers Proportion(%) Revenue (m) Proportion(%)
Repeat Advertisers 91 39% 2.51 288 63%
New Advertisers 144 61% 0.93 134 37%
TOTAL 235 100% 1.54 362 100%
2018 new and repeat advertiser revenue contribution
Average revenue per advertiser ("ARPA")
10
The average revenue from repeat advertisers (domestic KA business) reached RMB 2.51 million, a yoy increase of 44%
Source: Meitu advertising sales data (unaudited)
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Results Review
11
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750
948
541
456210
492
0
100
200
300
400
500
600
700
800
900
1,000
2017 2018
Internet business
3,740
1,844
2,881
1,907859
-63
-500
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2017 2018
Smart hardware
Gross profit (RMB in millions)
Revenue Cost of sales Gross profit Revenue Cost of sales Gross profit
377 mninventory impairment
12
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H116 H216
-255
-285
-33 -13
-118
-761
H117 H217 H118
13
H218
Adjusted net profits/losses (RMB in millions)
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1,339
3,4212,362
2016 2017 2018
85%
76%
85%
R&D G&A
425 559
1,021
2016 2017 2018
27%
12%
37%
243 416
699
2016 2017 2018
15%9%
25%
199 210286
2016 2017 2018
13%
5%
10%
14
Cost of revenue and expenses (RMB in millions)
Cost of revenue S&M
Note:
All include SBC
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2241
25 30
9268
H116 H216 H117 H217 H118 H218
5,515 5,293 5,1723,815
2,694
H216 H117 H217 H118 H218
15
Capital expenditure and cash position(RMB in millions)
Capital expenditure
Cash position
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Appendix
16
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Year endedDecember 31, 2018
Year ended December 31, 2017
RMB’000 RMB’000
17
Profit & Loss
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December 31 December 31
2018 2017
RMB’000 RMB’000
18
Balance sheet
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December 31 December 31
2018 2017
RMB’000 RMB’000
19
Balance sheet (continued)
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Year ended December 31,
2018 2017
RMB’000 RMB’000
20
Cash flow statement
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Year ended December 31,
2018 2017
RMB’000 RMB’000
21
Non-IFRS Financial Measures Reconciliation