Corporate Profile

We are a leading player in China’s online social and entertainment space. Through Momo, Tantan and other properties within our product portfolio, we enable users to discover new relationships, expand their social connections and build meaningful interactions. Momo is a mobile application that connects people and facilitates social interactions based on location, interests and a variety of online recreational activities. Tantan, which was added into our family of applications through acquisition in May 2018, is a leading social and dating application. Tantan is designed to help its users find and establish romantic connections as well as meet interesting people. We also operate a number of other applications to serve different social and entertainment demands from our users.

We have built a large user base on Momo since its launch in 2011. Momo’s MAUs decreased to 113.8 million in December 2020 from 114.5 million in December 2019, which increased from 113.3 million in December 2018. The decrease of Momo’s MAUs in 2020 was primarily attributable to the COVID-19 pandemic as well as relevant measures to keep it under control. We had 5.2 million paying users on our Tantan application in 2020 and 5.5 million paying user in 2019. The decrease in Tantan paying user was primarily attributable to COVID-19’s adverse impact on the number of active users and paying conversion and the introduction of a new merchandising strategy which had a negative impact on the number of paying users but a positive impact on average revenue per paying user.

Momo, Tantan and other mobile applications within our family of mobile applications can be downloaded and used free of charge, and we generate our revenues from the various services we offer on our platforms. Our revenues increased significantly from RMB13,408.4 million in 2018 to RMB17,015.1 million in 2019, but decreased to RMB15,024.2 million (US$2,302.6 million) in 2020.