On March 27, Yingke Interactive Entertainment Group (3700.HK) released its 2021 performance report. According to the report, as of December 31, 2021, the overall revenue of Yingke was 9.18 billion yuan (RMB, the same below), an increase of 85.4% over the same period last year of 4.95 billion yuan, a record high; the net profit after tax was about 430 million yuan, an increase of 113.1% over the same period last year of about 200 million yuan; from 2019 to 2021, the three-year annual revenue compound growth rate of CAGR reached 67.5%.
In terms of operating data, the main product MAU (monthly active users) was 42.8 million, an increase of 17.4% from 36.47 million in the same period last year.
The contribution of social products with diversified income structure accounts for more than 60%.
The report shows that since the establishment of the "matrix product" development strategy, Yingke has successfully transformed from a single product to a matrix product-driven performance growth group. At present, the Group's products mainly cover the three major sections of live broadcasting, blind date and social networking, and are committed to creating the most influential all-scenario new social platform.
Among them, social products continued to perform well, with revenue reaching 5.74 billion yuan in 2021, accounting for 62.6% of the total revenue. A number of vertical social products represented by Jimu have entered the mature commercialization stage, creating a new situation in the development of the Group's revenue structure from a single product to a diversified business. The business revenue of live streaming products and blind date products continued to develop steadily, reaching 2.56 billion yuan and 610 million yuan respectively, accounting for 27.9% and 6.7% of the total revenue, respectively.
Live broadcasting ecology is active and healthy to help talented people realize their dreams
Since its launch in 2015, the Group's main product, the Yingke Live STREAMING APP, has been achieving steady growth in users and revenues by virtue of its leading technology iteration and operational gameplay. In 2021, the influence of online live broadcasting will continue to increase. On the one hand, Yingke Live is more refined in IP incubation and operation, and constantly optimizes the platform's anchor incubation and growth system; on the other hand, by strengthening content review and promoting public welfare activities, while enhancing brand influence, it continuously transmits positive and healthy values to the society and maintains a good network culture ecology.
In April 2021, Yingke Live launched the "Yingle Drying Action", giving 27 high-quality anchors a new identity of "musicians", creating many out-of-the-loop music works for them, and helping talented people realize their musical dreams; in November, Yingke Group and the Disabled Persons' Federation jointly held the "Enjoy Barrier-free Humanistic Lecture Hall" love public welfare action, accumulating more than 10 million online views, covering nearly 80 million people as a whole, setting a new record in the history of barrier-free cultural publicity. At the same time, the "Yingke Barrier-free Cultural Live Broadcasting Base" was also officially completed, further promoting the high-quality cultural dissemination of barrier-free undertakings.
Dating products continue to upgrade to explore the full scene of love social
In the field of blind date social networking, Yingke's Xiangyuan APP relies on professional and rich operation services to sit firmly in the first echelon of the video dating track, and explores a new development path of "professional red bride", which has promoted more than 20 million matching blind dates throughout the year.
In 2021, based on the continuous exploration of user needs, Yingke's blind date section launched the marriage and love social product "Super Like", which aims at "new urban youth", and opened the first offline experience store in Beijing in September. Compared with the traditional blind date service, the core competitiveness of "Super Like" lies in creating a new type of love social experience and accurately reaching the real needs and pain points of young users.
At present, the "Super Like" offline store has successfully run through the commercial closed loop and precipitated mature management specifications and operating models. In the next step, "Super Like" will expand its stores in Guangzhou, Shenzhen, Chengdu, Changsha and other cities to help more young people find love. The exploration of "super like" proves that the "full scene" development of Yingke is forming a third or more growth curve. In terms of user experience, it provides a seamless sense of flow and realism between online and offline; in terms of commercialization, it has promoted the increase of the revenue and user scale of the Group's products in the blind date sector.
Feng Yousheng: Yingke Group has three major growth logics
Feng Yousheng, chairman of Yingke Interactive Entertainment Group, said that the growth logic of core performance is mainly based on the following three considerations.
The first is the consideration of social value. The original intention of Yingke to create products is not only to consider its commercial value, but also to conform to the fundamental needs of the times and the public, and to exert corresponding social value. For example, the development of blind date products is precisely to enhance the willingness of today's young people to get married; to expand the full-scene social networking, it is hoped that the advantages of the Internet will be used to empower offline traditional consumption and make strong support for the real economy.
Secondly, on the basis of undertaking social value, the Group's strategic objectives are constantly upgraded. In the seven years since its establishment, Yingke has evolved from a single product to a social matrix, and then based on a deep understanding of the post-epidemic era, it has established the exploration direction of "all-scenario social".
Focusing on the clear and clear strategic goals, Yingke also carries out solid construction of the organizational ecology from many aspects, including the middle office system and corporate culture, and continuously enhances the internal tenacity and vitality. In 2021, Yingke will continue to optimize the middle office system, integrate resources through cost reduction and efficiency increase, promote the landing of business scenarios and integration, achieve rapid verification of product and business commercialization capabilities, and improve the success rate of innovative projects.
More importantly, Yingke Group continues to strengthen the construction of corporate culture. In the interior, we always maintain a good atmosphere of innovation, encourage employees to always maintain sensitivity to the industry and learning ability, and put forward innovative ideas; at the same time, we constantly introduce new blood from the outside world and enhance the reserve of outstanding talents. In terms of management mode, Yingke effectively improves the initiative of employees' internal entrepreneurship through the mode of "internal horse racing" and "partner incentive". Every year, many employees of the Group take the initiative to devote themselves to internal entrepreneurship under the encouragement of "internal partners", and harvest the rapid upgrading and growth of thinking and ability.
The product concept of social value first, the strategic direction of continuous breakthrough and upgrading, and the solid organizational ecology together constitute the "long-term ism" adhered to by Yingke. Driven by the above growth logic, Yingke Group has achieved profitability for seven consecutive years.
In the future, we will accelerate the layout of overseas markets to explore the field of hard technology
In 2022, Yingke Group will continue to practice the strategic layout of "matrix product development" and achieve a diversified product portfolio to cover more segments and markets, while extending business boundaries, continuously polishing offline scenes, and providing users with a more immersive interactive experience.
In the future, Yingke will also focus on expanding overseas markets, relying on the innovation of technical level and business model, improving the overseas social map, and achieving further improvement of commercial value. At present, Yingke has 5-6 landing products covering Europe, the United States, the Middle East and other regions, exploring new growth space in overseas reading, social networking and other fields, and helping Chinese culture to spread abroad with Internet advantages.
Feng Yousheng also said that at the moment of the rapid development of Internet technology, "we will continue to maintain two capabilities, one is the ability to gain insight and pay attention to long-term technology trends, and the other is the ability to focus on learning and create value independently." "In the future, Yingke Group will continue to iterate new technologies, lay out hard technologies and other related frontier fields, and create the most influential all-scenario new social platform."