Chinese internet company Meitu sees 22% increase in revenue in 2020

XIAMEN - Chinese internet company Meitu reported 1.19 billion yuan ($182.4 million) in revenue in 2020, up 22.1 percent year-on-year.

Consumers visit the booth of Meitu Inc at the 2nd Digital China Summit& Exhibition in Fuzhou, Fujian province. [Photo by Zhu Xingxin/China Daily]

Meitu recorded an adjusted net profit of 60.9 million yuan, the first time the company reported a full-year profit since its establishment in October 2008.

Premium subscription services, in-app purchases and other earnings contributed to the growth in revenue, according to the company.

Statistics show that the number of daily active users of the Meitu App reached a historical peak of over 31 million during the Spring Festival holiday in February.