Weimob Inc. Announces 2023 Annual Report

Financials Author: EqualOcean News, Danyun XIAO Mar 29, 2024 06:28 PM (GMT+8)

On March 28th, Weimob Inc. (微盟集团), a Chinese provider of cloud commerce and marketing solutions, released its latest financial report for the year 2023. The report shows that the company achieved a total revenue of 2.228 billion yuan, a year-on-year increase of 21.1%, with a gross profit of 1.484 billion yuan, up 36% year-on-year, and a gross profit margin of 66.6%.

Weimob Inc.'s overseas expansion strategy is particularly noteworthy. Weimob is exploring diversified business models through its SuperApp solution and accelerating its overseas technology deployment. The SuperApp solution, a significant innovation aimed at the international market based on nearly a decade of SaaS product technological capabilities and industry service experience, aims to export China's mature mini-program commercial ecosystem and digital transformation experience globally. It not only provides an integrated digital infrastructure but also exports the thriving mini-program ecosystem and advanced consumer management experience from China, achieving the global radiation of the successful experience of the integration of China's internet industry and the real economy. Currently, it has identified hundreds of potential clients in the Middle East, mainly targeting banks, telecommunications, and other large traditional enterprises, indicating that the SuperApp solution has a huge customer transaction value and growth space.

In addition, Weimob sees short drama going overseas as an important growth point for the group, focusing on expanding the overseas short drama market and enlarging the company's overseas investment scale. Through strategic investment and acquisition of Banfan Technology to lay out the short drama track, Weimob has already achieved initial success in the field of short drama, becoming a level one agent for Google in China and reaching cooperation with Meta, Facebook, TikTok, Apple Ads, and other mainstream foreign media. In 2023, Weimob's overseas advertising consumption increased by 11.5% year-on-year, helping more than 300 companies to go global. In 2023, Weimob's overseas advertising consumption increased by 11.5% year-on-year, assisting more than 300 companies in going global. Looking forward, it is expected to realize long-term benefits in technology and business through its capabilities accumulated in digital marketing on the short-term track.

The executives of Weimob Inc. stated in the financial report that as the "big customer" strategy goes deeper, cooperation with industry-leading enterprises continues to deepen. In the future, the company will continue to promote high-quality business development through technological innovation and service optimization and achieve greater breakthroughs in the global market. Weimob's overseas strategy and international market layout not only bring new growth momentum to the company but also provide valuable experiences and models for the internationalization process of Chinese enterprises.