Weimeng released the 2022 interim report: the revenue in the first half of the year was 900 million yuan, and there was still 3.68 billion in the account

On August 15, Weimeng disclosed the financial report for the first half of 2022. The company achieved a total revenue of 900 million in the first half of the year and a gross profit of 598 million. Among them, the SaaS business revenue reached 581 million yuan, an increase of 5.7% year-on-year, and the number of paying merchants increased by 1.7% to 103,616; the endogenous growth rate of smart retail reached 60% year-on-year; the group’s cash and cash equivalents were 3.68 billion yuan.

Weimeng said that due to the impact of the epidemic and the increase in research and development expenses, the company’s revenue in the first half of the year suffered a loss, but with the recovery of the online and offline retail supply chain in June, the company’s business is expected to usher in a full recovery in the second half of the year. 

SaaS revenue bucks the trend 

According to the financial report, Weimeng’s subscription solution, that is, SaaS business, maintained a contrarian growth under the epidemic, with a revenue of 581 million yuan, a year-on-year increase of 5.7%; the number of paying merchants was 103,616, a year-on-year increase of 1.7%; the average revenue per user was recorded. About 5608 yuan, An increase of 4.0% over the same period last year. 

At the same time, the influence of Weimob subscription solutions in the large customer market has steadily increased. According to the financial report data, in the first half of 2022, Weimob Smart Retail increased by 28.4% year-on-year to 236 million, of which the organic growth rate reached 60%, accounting for 41% of subscription solution revenue. The number of smart retail merchants reached 6,984, of which brand merchants increased from 830 in the same period of the previous year to 1,155. The average order revenue per user of brand merchants was as high as 203,000 yuan.

In terms of customers, according to statistics, Weimob customers account for 44% of the top 100 fashion retailers in the domestic market, 45% of the top 100 commercial real estate, 35% of the top 100 chain convenience stores, and 43% of the top 100 restaurants. Weimeng said that it is expected that the proportion of large passenger revenue will increase to nearly 50% in 2023, and to nearly 70% in 2025. 

In addition, Weimob Smart Wine Brigade also achieved contrarian growth. The financial report shows that in the first half of 2022, Xiangminiao Technology, a subsidiary of Weimeng, achieved a year-on-year growth of 22% in Q2, of which June set a new monthly GMV high, with a year-on-year increase of 52%. Weimeng Smart Hotel currently has cooperative hotels covering the whole country (East China, South China, Southwest China, Hainan, North China), including more than 1,500 international and domestic high-end brand hotel groups and their single stores. 

Full-link marketing moves towards “internationalization” 

According to the financial report, in the first half of 2022, due to the impact of the epidemic and the macro economy, the advertising budget of merchants will be tightened. The revenue of Weimob merchant solutions will be RMB 319 million, the number of paying merchants will be 26,770, and the gross revenue of targeted advertising will be 4.21 billion. The average revenue per user is 11,899 yuan. 

At present, Weimob’s TSO full-link marketing strategy has covered many industries such as fast-moving consumer goods, e-commerce, catering, wedding dress, home furnishing, finance, etc., and the full-link operation of more than 50 KA merchants. In addition, Weimeng is continuously increasing its investment in the field of live video accounts and short videos. In the first half of 2022, Weimeng became the official operation service provider of WeChat video account, and has obtained four types of service provider qualifications for video account “operation + investment + training + supply”. 

It is worth mentioning that Weimeng has extended its full-link marketing to foreign markets. Through cooperation with Google, Facebook, Tik Tok, etc., we have opened up the full-link marketing of enterprises going overseas. 

The WOS system is fully launched to create a new growth engine

In the post-epidemic era, innovation is still the primary driving force for economic recovery, and the digital economy has become a new driving force for China’s economic growth. In the first half of 2022, the WOS new commercial operating system invested by Weimeng Group in research and development officially started public testing and data migration, which will become a new engine for the company to drive future performance growth.

It is reported that the Weimob WOS system has now completed the launch of major products and solutions covering customers in the e-commerce retail industry, including core products such as Wechat Mall, OneCRM, Qiwei Assistant, as well as smart retail solutions, restaurants, supermarkets, beauty industry, hotels Solutions for multiple industries will also be launched one after another.

Weimeng said that benefiting from the recovery of the online and offline retail supply chain in June, the company broke the single-month performance record since last year, and the business is expected to recover fully in the second half of the year. The company will continue to focus on the following seven major goals: increase the size of customers and increase the value of single customers; enhance the product power of WOS to create a new growth engine; intensive cultivation of ecological capabilities to expand the scale of customer penetration; interconnection, strengthen private domain investment; global layout , empowering enterprises; deepening TSO full-link operation, expanding service scenarios; global layout, expanding differentiated advantages. Weimob will continue to strengthen technical strength, continuously improve product innovation capabilities, improve product practicability and service quality, and help customers achieve digital transformation.