Meitu (01357) said its loss attributable to owners for the year ended 31 December 2016 widened to Rmb6,261 million from Rmb2,218 million for the previous financial year, mainly due to the increase in fair value loss of convertible redeemable preferred shares as the result of an increase in the equity value.
Basic and diluted loss per share was Rmb3.03.
The revenue was Rmb1,579 million, an increase of 112.8% from a year earlier.
The gross profit grew 138% to Rmb239 million in 2016. The gross margin increased to 15.2% in 2016, from 13.5% in 2015.
Adjusted net loss reduced by 23.9% year-on-year to Rmb540.5 million, mainly due to an increase in gross profit and a reduction in promotion and advertising expenses without compromising user growth.
No final dividend will be distributed.
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