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In 2020, the annual revenue is 15.0242 billion yuan, and the net profit is 2.8962 billion yuan From Mo Mo

The following is the In 2020, the annual revenue is 15.0242 billion yuan, and the net profit is 2.8962 billion yuan From Mo Mo recommended by recordtrend.com. And this article belongs to the classification: Enterprise financial report, Investment & Economy, social networks, Making friends on the Internet.

On March 25, 2021, Momo, the social networking platform of China Mobile, announced its unaudited financial results for the fourth quarter and the whole year of 2020. According to the financial report, in the fourth quarter of 2020, Momo’s net revenue reached 3795.2 million yuan (about 581.6 million US dollars), which was not measured in accordance with the US general accounting standards. In the fourth quarter of 2020, the net profit attributable to Momo’s parent company was 836.4 million yuan (about 128.2 million US dollars), which lasted for 24 quarters.

In 2020, Momo’s net revenue will reach 15.022.2 billion yuan (about 2.302.6 billion US dollars). The net profit attributable to Momo’s parent company is 2.896.2 billion yuan (about US $449.9 million), which is not measured in accordance with US GAAP. The diluted net profit per American Depository Share (ads) is 13.16 yuan (about 2.02 U.S. dollars) not measured in accordance with U.S. GAAP.

According to the data compiled by Peng Bo, on average, 11 Wall Street analysts predict that Momo’s revenue in the fourth quarter of 2020 will be 3.682 billion yuan. According to the financial report, Momo’s revenue in the fourth quarter of 2020 was 3.7952 billion yuan, exceeding Wall Street’s expectation.

Summary of the fourth quarter of 2020

Net revenue reached 3795.2 million yuan (about 581.6 million US dollars).

The net profit attributable to Momo’s parent company was 651.5 million yuan (about 99.8 million U.S. dollars), which was not measured in accordance with U.S. general accounting standards. The net profit attributable to Momo’s parent company was 836.4 million yuan (about 128.2 million U.S. dollars).

The diluted net profit of each American Depository Share (ads) was 2.98 yuan (about US $0.46). The diluted net profit per ads is 3.80 yuan (about US $0.58) yuan, which is not measured in accordance with US GAAP.

In December 2020, the monthly active users of Momo main app were 113.8 million.

In the fourth quarter of 2020, the total number of paid users of Momo’s live broadcast service and value-added service will reach 12.8 million (including 3.8 million paid users of probe).

Summary of financial performance in 2020

Net revenue reached 15.022.2 billion yuan (about US $2.302.6 billion).

The net profit attributable to Momo’s parent company was 2.103.5 billion yuan (about 322.4 million US dollars). The net profit attributable to Momo’s parent company is 2.896.2 billion yuan (about US $449.9 million), which is not measured in accordance with US GAAP.

Diluted net profit per American Depository Share was 9.65 yuan (about $1.48). The diluted net profit per American Depository Share (ads) is 13.16 yuan (about 2.02 U.S. dollars) not measured in accordance with U.S. GAAP.

Executive review

“2020 is a tough year for us,” said Wang Li, CEO of Momo. I am proud that the team has been able to focus on our core mission in the face of many challenges. Our commitment to this core mission has also enabled us to make difficult but correct decisions in the long-term interests of the company and the community over the past year. After several months of efforts, the content ecosystem and business of Momo main platform began to show a positive development trend. For the team, we have gained valuable growth experience from this hard journey. I am very happy to see that we have finally come out of the temporary predicament, and can firmly and better grasp the future growth opportunities. “

Financial performance in the fourth quarter of 2020

Net revenue

In the fourth quarter of 2020, the net revenue was 3795.2 million yuan (about 581.6 million US dollars).

In the fourth quarter of 2020, the revenue of Momo live broadcasting service was 2.327.9 billion yuan (about 356.8 million US dollars), a decrease of 31.2% compared with 3.383.5 billion yuan in the same period last year. The novel coronavirus pneumonia service is a major structural change in the App broadcasting business. It is also a major reason for the decline in revenue from direct broadcast services, which is also a result of the negative impact of the new crown pneumonia epidemic on users, especially the high paying users. The growth of the revenue of the live broadcast service partly offset the pressure from the above two factors. In the fourth quarter of 2020, the revenue of probe live service is 404.3 million yuan (about 62 million US dollars).

In the fourth quarter of 2020, the value-added business revenue reached 1.401.3 billion yuan (about 214.8 million US dollars), up 17.8% from 1.189.1 billion yuan in the previous year. Value added business revenue mainly includes virtual gift revenue and member subscription service revenue. The growth of value-added business revenue is mainly due to the continuous growth of Momo main app virtual gift business, which benefits from the continuous innovation in product and operation, and Momo has introduced more payment schemes to improve users’ social entertainment experience.

Mobile marketing revenue is 52.7 million yuan (about 8.1 million US dollars) in the fourth quarter of 2020, and mobile game revenue is 7.3 million yuan (about 1.1 million US dollars) in the fourth quarter of 2020.

In the fourth quarter of 2020, the net revenue of Momo main app decreased to 3.051.3 billion yuan (about 467.6 million US dollars) from 4.317 billion yuan in the fourth quarter of 2019, which was mainly due to the decrease of net revenue of live broadcast services, but the growth of net revenue of value-added services partially offset this impact. In the fourth quarter of 2020, the net revenue of probe increased to 740.5 million yuan (about US $113.5 million) from 369.8 million yuan in the fourth quarter of 2019, mainly due to the increase in net revenue of live broadcasting services.

Costs and expenses

In the fourth quarter of 2020, the cost and expenditure were 3.290 billion yuan (about US $504.2 million), 8.1% lower than that of 3.581.1 billion yuan in the same period of the previous year. The decrease in costs and expenses was mainly due to:

1. The sharing with the hosts providing live broadcast service is reduced;

2. Technical services related professional fees and broadband cost reduction;

3. Pay channel Commission reduction.

These reductions were partly offset by an increase in the share of recipients of virtual gifts with the virtual gift service.

In the fourth quarter of 2020, the cost and expenditure were RMB 3095.9 million (about US $474.5 million), which was 8.3% lower than that of RMB 3374.9 million in the same period of the previous year.

Other operating profit

In the fourth quarter of 2020, other operating profit was 88.4 million yuan (about 13.5 million US dollars), compared with 142.6 million yuan in the same period of the previous year. Other operating profits are mainly composed of government subsidies.

Operating profit

In the fourth quarter of 2020, the operating profit was 593.6 million yuan (about 91 million US dollars), compared with 1249.4 million yuan in the same period of the previous year. In the fourth quarter of 2020, the operating profit of Momo main app was 650.9 million yuan (about 99.8 million US dollars), compared with 1.458.5 billion yuan in the same period of the previous year. In the fourth quarter of 2020, the operating loss of the company was 53.1 million yuan (about 8.1 million US dollars), compared with 202.7 million yuan in the same period last year.

Not measured in accordance with US GAAP, the operating profit in the fourth quarter of 2020 was 787.7 million yuan (about 120.7 million US dollars), compared with 1455.7 million yuan in the same period of the previous year. Not measured in accordance with U.S. GAAP, the operating profit of Momo main app was 791.8 million yuan (about $121.4 million) in the fourth quarter of 2020, compared with 1593.9 million yuan in the same period of the previous year. Not measured in accordance with U.S. GAAP, the operating loss of probe in the fourth quarter of 2020 was 2.3 million yuan (about 400000 U.S. dollars), compared with 135 million yuan in the same period last year.

Net profit

The net profit in the fourth quarter of 2020 was 651.1 million yuan (about 99.8 million US dollars), compared with 1052.3 million yuan in the same period of the previous year. In the fourth quarter of 2020, the net profit of Momo app was 705.8 million yuan (about 108.2 million US dollars), compared with 1246.9 million yuan in the same period of the previous year. The net loss of probe in the fourth quarter of 2020 was 50.5 million yuan (about 7.7 million US dollars), compared with 188.2 million yuan in the same period of the previous year.

The net profit was 836.1 million yuan (about 128.1 million US dollars), which was 1.248.9 billion yuan in the same period of last year. Not measured in accordance with US GAAP, the net profit of Momo app in the fourth quarter of 2020 was 846.7 million yuan (about 129.8 million US dollars), compared with 1382.3 million yuan in the same period of the previous year. Not measured in accordance with U.S. GAAP, the net loss of probe in the fourth quarter of 2020 was 8.8 million yuan (about 1.4 million U.S. dollars), compared with 130.2 million yuan in the same period of the previous year.

Net profit attributable to Momo’s parent company

In the fourth quarter of 2020, the net profit attributable to Momo’s parent company was 651.5 million yuan (about 99.8 million US dollars), compared with 1055.9 million yuan in the same period of the previous year.

The net profit attributable to Momo’s parent company was 836.4 million yuan (about 128.2 million US dollars), compared with 1.252.5 billion yuan in the same period of the previous year.

Net profit per ads

In the fourth quarter of 2020, the diluted net profit per American Depository Share (ads) was 2.98 yuan (about US $0.46), compared with 4.74 yuan in the same period of the previous year. Not measured in accordance with US GAAP, the diluted net profit per American Depository Share (ads) was 3.80 yuan (about US $0.58), compared with 5.61 yuan in the same period of the previous year.

Cash and cash flow

As of December 31, 2020, the cash, cash equivalents, time deposits, short-term deposits and restricted cash held by Momo were RMB 16482.3 billion (about US $2.526 billion), and RMB 15225.3 billion as of December 31, 2019. Net cash from operating activities in the fourth quarter of 2020 was 1 039.1 million yuan (about 159.2 million US dollars), compared with 1 675.1 million yuan in the same period of the previous year.

Annual performance in 2020

In 2020, Momo’s net revenue reached 15.022.2 billion yuan (about US $2.302.6 billion), 11.7% lower than that of 17.015.1 billion yuan in the same period of the previous year.

In 2020, the net profit attributable to Momo’s parent company was 2.103.5 billion yuan (about 322.4 million US dollars), compared with 2.979 billion yuan in the same period of the previous year.

In 2020, the net profit attributable to Momo’s parent company was RMB 2896.2 million (about US $449.9 million), which was not measured in accordance with US GAAP, compared with RMB 4493.3 million in the same period of the previous year.

In 2020, the diluted net profit per American Depository Share (ads) was 9.65 yuan (about US $1.48), compared with 13.52 yuan in the same period of the previous year.

In 2020, the diluted net profit per American Depository Share (ads) was 13.16 yuan (about US $2.02), compared with 20.26 yuan in the same period of the previous year.

In 2020, the net cash from operating activities was RMB 3080.9 million (about US $472.2 million), compared with RMB 5448.9 million in the same period of the previous year.

Recent developments

Special cash dividend scheme

Momo’s board of directors announced a special cash dividend of $0.64 per ads, or $0.32 per common share. These cash dividends will be paid on April 30, 2021 to shareholders who are still registered after the end of the trading day on April 13, 2021. The ex dividend date is April 12, 2021. The total amount of cash distributed is about $132 million, which will be paid with the company’s surplus cash.

Share repurchase plan

On September 3, 2020, Momo’s Board approved a stock repurchase plan, based on which the company will repurchase up to $300 million of shares in the next 12 months. As of March 24, 2021, based on the plan, the company has repurchased about 3.61 million American Depository shares (ads) in the open market, with a total amount of about US $49.2 million. The average payment price of each ads is US $13.63.

Chief technology officer resigns

Mr. Wang Chunlai will step down as the company’s chief technology officer due to personal reasons, which will take effect on April 30, 2021. At the same time, he will continue to serve the company as a consultant. The company is very grateful to Mr. Wang Chunlai for his valuable contribution in the past nine years.

Performance outlook

The company expects net revenue in the first quarter of 2021 to be between RMB 3.36 billion and 3.46 billion, with a year-on-year decrease of 6.5% to 3.7%. This expectation takes into account the potential impact of COVID-19’s global explosion, reflecting the company’s initial views on the market and business conditions, which may change, especially the potential impact of COVID-19 on China’s economy.

Momo: the net profit of 3q20 is 653.8 million yuan, lasting for 23 quarters. Momo: the net revenue of 2019 is 17.015 billion yuan, up 27% year on year. Momo: the revenue of 2q20 is 3.868 billion yuan, down 6.8% year on year. Momo: the revenue of 2q19 is 4.15 billion yuan, the net profit is 1.24 billion yuan, and the monthly active users are 110 million. Momo: the net profit of 1q20 is 76.1 million US dollars A year-on-year growth of 86.3% Momo: core business flow and revenue of 4q19 financial report teleconference record began to recover in March. From the failure of young people on Facebook, domestic social network oligarchs and friends compete for supremacy Momo: social report of college students in 2018, social video games are the most commonly used three types of app Penguin Zhiku: comparison of China and the United States in 2015 Why is it difficult for social algorithms to help you find true love after the growth of users? Match: targeting 600 million single dogs around the world, 1q19, an American dating company, has a strong growth. Match: 1q18’s revenue has increased by 36% year on year, not afraid of Facebook’s competition for dating. Match: how is the world’s largest dating platform with 7 million members made? Momo: 2016 dating pressure Report Minimum programmer pressure

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