Meitu, Inc. announced audited consolidated earnings results for the year ended December 31, 2017. For the year, the company reported revenue of RMB 4,527,484,000 compared with RMB 1,578,580,000 a year ago. Loss before income tax was RMB 133,756,000 compared to RMB 6,259,812,000 a year ago. Loss for the year attributable to owners of the company was RMB 197,324,000 or RMB 0.05 per basic and diluted share compared with RMB 6,260,880,000 or RMB 3.03 per basic and diluted share a year ago. Adjusted net loss was RMB 45,950,000 compared with RMB 540,454,000 a year ago. Net cash generated from operating activities was RMB 35,265,000 compared with net cash used in operating activities of RMB 689,340,000 a year ago. Capital expenditure was RMB 54,793,000 compared with RMB 62,543,000 a year ago. Revenue growth of the Internet business segment greatly exceeded that of the smart hardware business. This particularly reflected the significant progress the company had made on the monetization of the massive user base. The company's loss decreased significantly by 96.8% year on year primarily due to a fair value loss on the convertible redeemable preferred shares of RMB 5,606.1 million was recognized for the year ended December 31, 2016, but did not recur in the year ended December 31, 2017, as the convertible redeemable preferred shares were automatically converted into ordinary shares upon listing in December 2016.