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Chairman's Letter to Shareholders

*Selected from Annual Report 2022. For the full version, please read the report.


Dear Shareholders,

The key theme for the year 2022 might be “change”. How to maintain the momentum of enterprise development in the face of changes and how to seek new growth in the midst of changes are two core questions that we have been continuously thinking about and striving to create answers to throughout the year. 

Since being listed on the Main Board of the Hong Kong Stock Exchange on December 17, 2020, the Group has begun a new phase of development in an ever-changing environment, where we are continuing to explore opportunities in the marketing field with the relentless evolution of information form in the Internet industry while confronting difficulties from the macro environment, the capital market and the industry market. The constant is always the full confidence of our team, which fuels our high morale even when the road ahead is full of obstacles. On behalf of the Board of Directors, I would like to express my sincere gratitude to all shareholders for the trust and support you have given to the Group, which lays a firm foundation and forms a strong motivation for us to continuously grow.

Persistent in technology development and its long-term rewards

In the past two years, low sentiment has remained among advertisers, media platforms have been under pressure, the online marketing industry has become increasingly competitive and the service providers have been experiencing the decreasing gross profit margin. Faced with the rising difficulty in industry-level profitability, what can we do and what have we done? I believe these are questions that our shareholders, peers and other market participants are concerned about.

The core answer is “technology-driven”, which Netjoy has always insisted on and pursued, thus our primary strategy being “Platformization”. As the pioneer in short-video marketing technology field, we were well-positioned to ride on the high speed of market development, while at the meantime achieving rapid expansion in scale and profitability by virtue of our excellent technical ability for consecutive past years. In the face of the current difficult market environment, the power of technology has once again become the key for us to navigate risks, reduce costs and improve efficiency.

 “Technology-driven” is always the development foundation of Netjoy, no matter how the market environment is. 

Master of opportunities from crisis with a longer-term view

In the China’s short-video market which has entered into the maturity phase nowadays, due to the growing average user duration and the rising penetration into all life scenarios of short videos, the tendency of enterprises shifting their focus of online customer acquisition and business growth to the short-video ecology will not change along with the user growth slowing down and hitting the bottleneck. However, enterprises are requiring the short-video marketing service to be more refined and intelligent. In the midst of fierce industry competition, we are confident that leveraging our industry-leading technical ability and service quality Netjoy can stand the test of time and gain more recognition from clients. Short-video marketing business is still the dominant component of our business landscape.

Meanwhile, there are both challenges and opportunities under the uncertainness of macro environment. Hence, it is how to break market obstacles and accurately capture new opportunities that is the key driver for our longterm development. We have already broadened our horizons in advance and are actively searching and developing potential business fields under our strategy of “Diversification”, so as to further build up our strength to fuel the longterm growth.

As the era is evolving, new opportunities and possibilities are emerging. We will further leverage our strengths to horizontally and vertically develop new business fields to achieve a diversified growth and create more value to clients by provide them with well-round services in the digital age.

2023 of moving forward against all odds

We have updated our mission from “Connect people desire” to “Connecting desire” in 2022. Desire comes from changes, which are not merely obvious turning points but also a normality that is happening constantly. Over the past three years, the global pandemic has accelerated changes in the economic environment, the Internet ecosystem, user habits and so on. Therefore, change is the only certainty, and Netjoy is ready for it – we have been always keeping agile and prompt responses to seek breakthroughs in hard environment and pursue innovation in steady one.

In the future, under the catalysis of the integration and development of global politics, economy and technology, we still consider it is an inevitable trend that there will be increasing uncertainty. We will keep our original enterprise intention – search valuable changes among the uncertainty to achieve long-term growth, make a difference in the social content ecology and build a bridge between users and advertisers, so as to explore and create more business value. With the growth of China’s digital economy, we will strive and innovate for greater long-term value to return to our shareholders.

Finally, I would like to express my thankfulness to every client, shareholder and employee for your continued trust and support in Netjoy.


XU Jiaqing

Chairman and Executive Director