Zhiwen Group 2022 Q2 net revenue of 3.1104 billion yuan in net profit was 463.5 billion yuan

On September 1, Beijing time, NASDAQ: Momo announced unaudited financial results in the second quarter of 2022. According to the financial report, in the second quarter of 2022, the net revenue of Zhiwen Group reached 3.1104 billion yuan (approximately US $ 464.4 billion), and did not measure it in accordance with the US General Accounting Standard. The net profit attributable to Zhiwen Group in the second quarter of 2022 was 463.5 billion Yuan (about 69.2 million US dollars).

By sorting out public data, Wall Street analysts averaged that the second quarter revenue of Zhiwen Group in 2022 was 3.065 billion yuan. The financial report shows that the net revenue of Zhiwen Group in the second quarter of 2022 was 3.1104 billion yuan (approximately US $ 464.4 million), exceeding Wall Street expectations.

The second quarter of 2022 performance Abstract

Net revenue was 3.1104 billion yuan (approximately US $ 464.4 million).

The net profit attributable to Zhiwen Group was 345.6 million yuan (about 51.6 million US dollars).

The net profit attributable to Zhiwen Group is 463.5 million yuan (approximately US $ 69.2 million).

The diluted net profit of US deposit stocks (ADS) per share is 1.68 yuan (about 0.25 US dollars).

Do not measure in accordance with the U.S. GM accounting standards, the net profit of US deposit shares (ADS) per share is 2.22 yuan (about $ 0.33).

In June 2022, Momo APP's monthly active users were 111.2 billion, and the monthly active users of the APP were 24.8 million.

In the second quarter of 2022, the total paid of Momo APP was 8.6 million, and the exploration paid households were 2.2 million.

Financial performance Abstract in the first half of 2022

Net revenue reached 6.258.5 billion yuan (about 934.4 million US dollars).

The net profit attributable to Zhiwen Group was 635.5 million yuan (about 94.9 million US dollars).

The net profit attributable to Zhiwen Group is 862 billion yuan (approximately US $ 128.7 billion).

The diluted net profit of US deposit stocks (ADS) per share is 3.11 yuan (about 0.46 US dollars).

Do not measure in accordance with the U.S. GM accounting standards, the net profit of US deposit shares (ADS) per share is 4.16 yuan (about $ 0.62).

Executive comment

Wang Li, CEO of Zhiwen Group, said: "In the first half of the 2022, the epidemic situation repeatedly brought many challenges and uncertainty to our achievement of these strategic goals. Products and operating measures have achieved good results. At the same time, we will also adjust the implementation plan of strategic goals according to the changes in the external environment. "

Financial performance in the second quarter of 2022

Net revenue

In the second quarter of 2022, net revenue was 3.1104 billion yuan (approximately US $ 464.4 million).

In the second quarter of 2022, the live broadcast service revenue was 1.52 billion yuan (about 226.9 billion US dollars).

In the second quarter of 2022, the value -added service revenue reached 1.536 million yuan (approximately US $ 229.4 billion), a 1.9%increase of 1.573 billion yuan from the previous year. Value -added service revenue includes virtual gift service revenue and membership subscription service revenue. The year -on -year increase in value -added service revenue is mainly due to the rapid growth of new independent APPS revenue. In order to enhance the user experience and retention of the commercialization of value -added services, and the negative impact of the epidemic on the user's dating and the willingness to pay for the epidemic, the above growth has offset the above growth.

In the second quarter of 2022, mobile marketing revenue was 35.9 million yuan (about 5.4 million US dollars), and mobile game revenue was 17.2 million yuan (about 2.6 million US dollars).

In the second quarter of 2022, the net revenue of the Momo APP was 2.7795 billion yuan (approximately US $ 415 billion). In the second quarter of 2022, the net revenue was 330.8 million yuan (about 49.4 million US dollars).

Cost and expenditure

In the second quarter of 2022, the cost and expenditure of 2.8048 billion yuan (approximately US $ 418.7 billion) were reduced by 8.8%from the 3075.6 billion yuan in the same period of the previous year. The reduction in cost and expenditure is mainly due to:

1. The reduction of the income of anchor income provided by Momo and the exploration of Momo and the exploration, and the increase in the income division of the recipient income of virtual gifts in the virtual gift service, which partly offsets these reductions;

2. The reduction of depreciation and amortization costs caused by the impairment of intangible assets in 20121;

3. In order to improve the decrease in Momo and the expenses of marketing promotion caused by marketing efficiency, the increase in the promotion cost of the new APP "sticker" offsets these reductions;

4. The reduction of salary costs is due to the continuous optimization of personnel costs since the beginning of this year.

In the second quarter of 2022, the cost and expenditure were not measured in accordance with the US GM accounting standards, and the cost and expenditure were 2.6869 billion yuan (about 4011 million US dollars), a 9.8%decrease of 2.9801 billion yuan in the same period of the previous year.

Other operating profits

In the second quarter of 2022, other operating profits were 40.6 million yuan (about $ 6.1 million).

Operating profit

In the second quarter of 2022, the operating profit was 346.2 million yuan (about 51.7 million US dollars). In the second quarter of 2022, the operating profit of Momo APP was 483.5 million yuan (about 72.2 million US dollars). The losses of operation in the second quarter of 2022 were 131.3 million yuan (about 19.6 million US dollars). The operating profit in the second quarter of 2022 was 464.1 million yuan (approximately US $ 69.3 million) in the second quarter of 2022. Do not measure in accordance with the U.S. GM Accounting Standards, the operating profit of Momo APP in the second quarter of 2022 was 589.2 million yuan (about 88 million US dollars). The operating loss of operation in the second quarter of 2022 was not measured in accordance with the U.S. GM Accounting Standards.

Other income or loss, net amount

In the second quarter of 2022, other income was 66.3 million yuan (about 9.9 million US dollars). This is because the company repurchased some convertible advanced bonds from certain bond holders in the second quarter of 2022.

Income tax expense

In the second quarter of 2022, the income tax fee was 146 million yuan (about 21.8 million US dollars).

Net profit

In the second quarter of 2022, net profit was 344.3 million yuan (about 51.4 million US dollars). In the second quarter of 2022, the net profit of Momo APP was 482 billion yuan (about 72 million US dollars). The net loss in the second quarter of 2022 was 131.7 billion yuan (about 19.7 million US dollars).

The net profit in the second quarter of 2022 was 462.3 million yuan (approximately $ 69 million) in the second quarter of 2022. The net profit of the Momo APP in the second quarter of 2022 was not measured in accordance with the US GM Accounting Standard. The net loss of the second quarter of 2022 was not measured in accordance with the U.S. GM accounting standards.

The net profit attributable to Zhiwen Group

In the second quarter of 2022, the net profit attributable to Zhiwen Group was 345.6 million yuan (about 51.6 million US dollars).

The net profit attributable to Zhiwen Group in the second quarter of 2022 was 463.5 million yuan (approximately US $ 69.2 million) in the second quarter of 2022.

US deposit stock (ADS) net profit per share

In the second quarter of 2022, the net profit of US deposits (ADS) per share was 1.68 yuan (about $ 0.25). Do not measure in accordance with the U.S. GM accounting standards, the net profit of US deposit shares (ADS) per share is 2.22 yuan (about $ 0.33).

Cash and cash flow

As of June 30, 2022, the cash, cash equivalents, short -term deposits, long -term deposits and limited cash held by Zhiwen Group were 13.9472 billion yuan (approximately US $ 2.0823 billion), and as of December 31, 2021, 15.707 billion yuan Essence The reduction of cash, cash equivalent, short -term deposits, long -term deposits and limited cash is mainly due to our dividends and repurchase convertible advanced bonds to shareholders in the second quarter of 2022. The net cash brought by operating activities in the second quarter of 2022 was 2003 million yuan (about 29.9 million US dollars).

Financial performance in the first half of 2022

In the first half of 2022, net revenue reached 6.258.5 billion yuan (about 934.4 million US dollars).

In the first half of 2022, the net profit attributable to Zhiwen Group was 635.5 million yuan (about 94.9 million US dollars).

The net profit attributable to Zhiwen Group in the first half of 2022 was 862 billion yuan (approximately US $ 128.7 billion) in the first half of 2022.

In the first half of 2022, the net profit of US deposits (ADS) per share was 3.11 yuan (about 0.46 US dollars).

Following the measurement of the U.S. GM accounting standards, the net profit of US deposit stocks (ADS) per share in the first half of 2022 was 4.16 yuan (about $ 0.62).

The net cash brought by business activities in the first half of 2022 was 243.7 million yuan (about 36.4 million US dollars).

Recent development

Execution of stock repurchase plan

On June 7, 2022, the board of directors of Zhiwen Group approved a new stock repurchase plan. Based on the plan, the company will repurchase up to $ 200 million in stocks in the next 24 months. As of September 1, 2022, the company has repurchased approximately 4.18 million U.S. Stock Stocks (ADS) in the open market based on the plan, with a total amount of about 19.2 million US dollars. It is $ 4.58.

*This article is for reference only, not as investment suggestions

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