Shulou(Shulou.com)11/24 Report--

CTOnews.com August 31 News, Zhiwen Group today announced unaudited financial results for the second quarter of 2023. According to the financial report, the net revenue of Zhiwen Group reached 3.138 billion yuan in the second quarter of 2023, an increase of 0.9 percent over the same period last year.

The net profit attributed to Zhiwen Group was 568.4 million yuan (US $78.4 million), compared with 345.6 million yuan in the same period last year, an increase of 64% over the same period last year. Excluding US general accounting standards, the net profit attributed to Zhiwen Group in the second quarter of 2023 was 632 million yuan, an increase of 36% over the same period last year.

CTOnews.com learned from the report that there were 7.9 million paying users for Momo App and 1.4 million paying users for explorations in the second quarter.

Momo's net revenue in the second quarter of 2023 was 2.8166 billion yuan ($388.4 million), compared with 2.7795 billion yuan in the same period last year. The increase was mainly due to the growth of live streaming services and independent new Apps revenue, which was partly offset by a decline in revenue from Momo App value-added services. The net revenue of explorations in the second quarter of 2023 was 320.7 million yuan (about $44.2 million).

Revenue from live streaming services in the second quarter of 2023 was 1.5888 billion yuan ($219.1 million), up 4.5 percent from 1.52 billion yuan in the same period last year.

Revenue from value-added services reached 1.4995 billion yuan ($206.8 million) in the second quarter of 2023. Revenue from value-added services includes revenue from virtual gift services and revenue from member subscription services.

Revenue from mobile marketing was 37 million yuan ($5.1 million) and revenue from mobile games was 2.6 million yuan ($400000) in the second quarter of 2023.

Tang Yan, chairman and CEO of Zhiwen Group, said: "this is an excellent quarter and we have made good progress both in terms of financial indicators and the implementation of various strategic priorities."

Zhang Sichuan, COO of Zhiwen Group, said: "recently, we celebrated Momo's 12th birthday, and as a member of the founding team, we are pleased to see that we have grown from a single-function application to a listed group company with multiple brands and footprints in different countries and regions over the past decade. The group level achieved the first year-on-year increase in the epidemic for the first time in three years in the quarter, mainly due to the stabilization and rebound of Momo Cash Bull business. The significant improvement in profit level compared with the same period last year and month-on-month is mainly due to the team's effective cost-reduction and efficiency strategy to make exploration turn losses into profits, but also makes Momo's output stable. "

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