Meitu announced half-year results, with revenue of 2.052 billion yuan in the first half, down 5.9% from the same period last year.

The net loss was 127 million, compared with a loss of 131 million in the same period last year.

What is more striking is that Internet business revenue in the first half of the year was 572 million yuan, a year-on-year increase of 131.6%.

Perhaps because of the impact of competitive products, the number of Meitu users declined, and the total number of monthly active users fell 16% compared with the same period last year.

Among them, the number of Meipai monthly active users plunged 50% compared with the same period last year! In the results report, the company mentioned that in March and June 2018, the company took the initiative to check and rectify the content of the entire site, suspending downloads from all app stores.

The company says its top priority over the next 18 months is not to focus on generating net profit, but to drive growth in the number of active users and gross profits. And has begun to implement the beauty and social strategy, thus enabling Meitu to evolve from a tool application to a social media platform. Meitu is testing the new social version to a small number of users, and the test results are encouraging. When the social version of Meitu is officially launched in September, Meitu will become one of the largest social media platforms in China, with more than 100 million monthly active users.