What are the characteristics of Microsoft, Facebook, Google, Baidu, Alibaba and Tencent?

Of course, these are Internet giants; More importantly, the number of users of these giants has exceeded 1 billion. In fact, there is another company in China, whose users can rival these giants, but it has never made a profit.

For boys and girls who love taking selfies and showing off their friends, Meitu's products such as Meitu Xiu Xiu, Meipai and Beauty Camera are all necessary. Meitu's 216 financial report shows that Meitu currently has more than 1.1 billion independent users worldwide, and the total number of active users in January 217 reached 52 million, a record high.

However, it is this self-portrait artifact that "flatters others and loses yourself", but now it has become a "cash machine" for some people.

Shareholders have reduced their holdings, including the son of the chairman.

From July 213 to the listing of Meitu in Hong Kong on December 15, 216, Meitu raised a total of more than 3.1 billion yuan, which was generously contributed by a group of star investors: IDG Capital, Huaxia Fund, Tiger Fund, etc. Among its directors, Kai-Fu Lee of innovation works is impressively listed.

However, according to the statistics disclosed by the Hong Kong Stock Exchange, it is found that some people who have provided funds to Meitu have started to reduce their shares and cash out.

On June 19th, innovation works of Kai-Fu Lee sold 66 million shares of Meitu at HK$ 8.5 each, and cashed in HK$ 561 million.

On July 3rd, Tiger Global Fund reduced its holdings by 4 million shares and cashed in HK$ 3.4 billion. Tiger Global Fund was founded in 198. At present, its assets reach 22 billion dollars, and it ranks second among all hedge funds in the world with an average annual profit of 25%. It also invested in Internet technology companies such as Apple, Microsoft and JD.COM.

On July 7th, Qiming Venture Capital, one of Meitu's major shareholders, reduced its holdings by 212 million shares and cashed in HK$ 1.82 billion. In the investment list of Qiming Venture Capital, there are also many well-known enterprises, including Xiaomi, Dianping and mobike.

on July 25th, IDG capital reduced its holding of 5 million shares of Meitu and cashed in 425 million Hong Kong dollars. IDG Capital, founded in 1992, is the first foreign investment fund to enter China. IDG Capital has invested in famous companies in China, including Tencent, Baidu, Sohu, Xiaomi, Ctrip, Stormwind, Home Inn Group and Hanting Hotel Group.

in just 37 days, the above four institutions cashed in HK$ 6.188 billion from Meitu's stock.

in addition to these major shareholders, even Cai Rongjia, the son of Cai Wensheng, the chairman of Meitu, has greatly reduced his shares in the company. According to the data of the Hong Kong Stock Exchange, when Cai Rongjia went public on December 15th last year, it still held 3 million shares of Meitu, accounting for 7.1% of the total shares. However, after reducing its holdings of 3, shares again on May 5th this year, only 211.7 million shares remained in Cai Rongjia's holdings, and a * * * reduced its holdings by 88.3 million shares.

Although HKEx only disclosed Cai Rongjia's twice reduction of 6, shares, since he is not a director, he only needs to disclose it when his shareholding changes by 1 percentage point. According to the stock price calculation of the time interval during which he reduced his holdings and cashed out, as of May 5, Cai Rongjia cashed out more than 9 million Hong Kong dollars.

since its shareholding is now less than 5%, there is no need to disclose it if it continues to reduce its holdings in the future.

The stock price has skyrocketed and plummeted. Where is the way to realize the software?

Since Meitu went public on December 15th, 216, the company's share price has experienced a wave of ups and downs. Among them, the most thrilling scene took place on March 2. On the same day, Meitu's share price, which had been rising for 11 consecutive days, first rose by 28% all the way, and at the close of the morning, its share price exceeded HK$ 2.

after the opening in the afternoon, the share price of Meitu Company continued to rise, reaching a maximum of HK$ 23.5 at around 14: 38 pm, which was 28% higher than the closing price of the previous day.

But then the situation changed suddenly. Just after 14: 4, Meitu's share price plummeted, and by 15: 1, it had dropped to around HK$ 17. Then the share price continued to fall, and closed at HK$ 15.98, falling 11.22% throughout the day. The amplitude of that day was as high as 42.5%.

in just 8 minutes, from the intraday upside to the market value of 1 billion to the closing, the market value of 3 billion was gone. As of last Friday, Meitu's share price closed at HK$ 11.6, which was 52% lower than the historical peak of HK$ 23.5.

Behind the stock price crash is the embarrassing history that the company has never made a profit.

In Meitu's 216 financial report, it was found that although the company's loss was reduced compared with 215, Meitu still lost 54 million yuan when its revenue doubled.

Meitu, which is famous for its software, still relies on Meitu's smart phone to support its current performance. In 216, Meitu's hardware revenue reached 1.473 billion yuan, a year-on-year increase of 12.9%.

In the Internet service sector (including Meitu Xiu Xiu, Meipai, etc.), Meitu's current revenue comes from two parts: advertisements and virtual props sold on Meipai. Although the revenue of this sector increased by 4.1% in 216, the absolute value is still not high, only 14.7 million yuan.

Meitu is also racking its brains to realize it.

Meitu said in the financial report that the company has started a new business "Meitu Customization", which is a service that allows users to print and print their own photos on different products to show their individuality. In addition, the company also launched the "Meipu" social e-commerce platform in the first half of 217 to increase the realization of e-commerce.

everything we play is someone else's ATM.