2023 semi-annual report released: adjusted net loss of 223 million yuan, narrowed year-on-year

In the evening news of August 25, 2023, Keep released its financial report for the first half of 2023 today. According to the financial report, the company's total revenue during the reporting period was 985 million yuan, and its net loss after non-IFRS adjustments was 223 million yuan, which was significantly reduced compared to the net loss of 317 million yuan in the same period last year

Revenue is mainly composed of three parts: private brand sports products, membership subscriptions and online paid content, advertising and other three parts. Among them, self-owned brand sports products achieved revenue of 466 million yuan in the first half of 2023, accounting for 47% of revenue; membership subscriptions and online paid content are Keep’s second largest revenue points, achieving a revenue of 466 million yuan in the first half of 2023. Revenue of 449 million yuan, accounting for 46% of total revenue

In comparison,member subscription and online paid content business revenue will achieve a 10% growth in 2023, accounting for The ratio has also improved significantly. Keep said this was helped by good performance in the virtual sports events business.

pointed out in the report that in the first half of 2023, the company will cooperate with a number of popular IPs to launch a series of theme activities and creative marketing activities through social media and short video platforms to promote the growth of virtual sports event business . The prizes, gameplay and competition format of the event are constantly changing, helping the average revenue per event paying user (ARPPU) to increase by 30% compared with the same period last year

At the same time, we continue to optimize our courses, covering aerobics, skipping , yoga, meditation, strength training, health improvement and other contents, and provides recorded and broadcast classes to paying members. As of June 30, 2022, we have provided 1,391 recorded lessons, and as of June 30, 2023, this number has increased to 2,464 lessons. The upgraded content and services have helped us increase our membership penetration rate, from an average of 9.7% in the first half of 2022 to 10.2% in the first half of 2023

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