Summary by Moomoo AI
Shatte Technologies announced its results for the year ended 31 December 2023 with revenues of RMB1134.7 billion, an increase of 20.5% year-on-year. Gross profit increased to 50.6% from 44.7% in 2022, and profit for the year amounted to RMB63.99 billion, up from a loss of RMB136.89 billion last year. Adjusted EBITDA increased significantly from RMB18.15 billion in 2022 to RMB174.24 billion. In spite of the challenges of the external macro environment, the company is committed to creating a healthier, affordable content and business environment for users and partners, according to Shutter Tech. In the fourth quarter of 2023, fast app monthly active users surpassed 7 billion, and e-commerce and online marketing business growth was faster than the market average. Overseas business revenue grew by nearly 200% year-on-year, while operating losses narrowed significantly. The company will continue to enhance its infrastructure, algorithms, content and business scene to meet the challenges of the macro environment.