Looking good: China's selfie-beautifying giant Meitu sees surging revenue, profit

XIAMEN - Chinese selfie-enhancing technology giant Meitu reported a 23.9 percent year-on-year surge in revenue for 2024, reaching 3.34 billion yuan ($466 million).

The company has achieved rapid net profit growth each year since 2019. It recorded an adjusted net profit attributable to shareholders of the parent company of 586 million yuan, up 59.2 percent year-on-year, according to the company's financial report released on Tuesday.

By the end of 2024, Meitu had garnered a record high of some 12.61 million paid subscribers. It also reported 266 million monthly active users, up 6.7 percent year-on-year.

In 2024, the company invested 910 million yuan in research and development, an increase of 43.3 percent year-on-year, to further enhance its competitiveness in the visual field.

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