According to the Zhitong Finance App, Doumeng Technology (01917) announced its results for the year ending December 31, 2022. The group obtained revenue of RMB 5.179 million (same unit below), a decrease of 43.7% over the previous year; losses attributable to company owners were RMB 54.282 million, a decrease of 50.2% over the previous year; and a loss of 0.024 yuan per share.
The Group insists on optimizing related business systems, strategically focusing on the expansion of short video and live e-commerce business to ensure that the Group continues to advance in an orderly manner on the path of business operations and long-term goals. In the reporting period, total revenue decreased by 43.7% compared to the corresponding period. The main reason was that the Group's short video and live e-commerce business accounted for a relatively large amount of revenue, and the settlement model for this part of the business was to settle sales commissions with customers rather than advertising service fees. At the same time, the increase in the share of short video and live e-commerce business has also made outstanding contributions to gross profit growth, and the Group's profitability has gradually increased. During the reporting period, the Group's gross profit and gross margin were $16.6 million and 32.4% respectively, up from $12.3 million and 13.6% in the corresponding period. Furthermore, the loss during the year was about 54.3 million yuan, which was 50.3% narrower than the corresponding period.
During the reporting period, the performance of the company's short video and live e-commerce business made significant progress and became the Group's long-term main growth force. The company is very grateful to the team, shareholders and brand customers for their efforts, understanding and support. A good start gave the company full confidence in the live e-commerce business. Looking forward to the future, the company will unswervingly adhere to the mission of “making every connection more effective” to provide efficient, stable and long-term marketing solutions for brand customers to connect with target users.
To achieve the company's long-term goals, the company will continue to optimize personnel incentive policies, attract more talents to join, optimize the operating mechanism through further introduction and application of scientific and advanced technology and analysis methods, and help more brand customers efficiently reach target users through live e-commerce. While promoting high-quality products, the company will focus on expanding brand influence to attract and retain more consumers by providing them with unique and enjoyable shopping experiences. Thus, we will further achieve a win-win situation and goal for consumers, brand customers and the group, and occupy a larger market from a dimensional perspective.
On the other hand, while expanding and steadily developing the domestic market, the company is preparing to further explore overseas markets for the live e-commerce business. Through comprehensive evaluation and analysis of regional culture, consumer preferences and purchasing mentality, price indices, and market supply and demand, products suitable for market needs and can better meet consumer expectations and purchasing mentality are selected. Based on a mature, specialized and systematic short video and live broadcast operation strategy, the company obtained foreign markets through flexible use of market factors such as exchange rates and prices. This will further achieve the goal of enhancing the company's competitiveness and influence and increasing overall business revenue.