Mito (01357) & # 39; s medium-term sales decline, Chairman Cai Wensheng said that Meitu Xiuxiu entered a transition period, from tools to social platforms, the model is similar to Instagram. In May, Meitu Xiuxiu began testing social functions and in September it was fully launched in the new social version. The impact of the transformation is expected to last six months to a year.
Yan Jinliang, the company's chief financial officer, said that the monthly active users of the company's products only temporarily fell. Moreover, the American film was released in June for a month, now the American team has moved to Beijing and will communicate better with the regulatory authorities.
When Cai Wensheng was asked about the company's competitors, he noted that the short player of the video platform was a strong competition for Mito's products and on the other hand was making efforts of the cities with a third and fourth level, while users located in the United States were more than one or second-class cities. The high-end route, which does not contain a popular video, is currently positioned as a pan-knowledge platform.
He pointed out that the increase in marketing investments will prepare for the next two to three years. Yan Jinliang said that the increase in investment is expected to be a loss or expansion in the second half of the year.