Keep’s first financial report is released, and the profit road is lighter.

9 min read

Source: Kejihui

Keep released the first annual performance report after listing.In 2023, Keep’s total revenue was RMB 2.138 billion, gross profit was 962 million yuan, and gross profit margin was 45.0%, which achieved gross profit growth for three consecutive years. According to the non -international financial report standards, the net loss was 295 million yuan after adjustment, and the net loss rate was 13.8%.The net loss narrowed by 55.7%year -on -year.

Before listing, from 2019 to 2022, the net losses were adjusted to 366.5 million yuan, 106.4 million yuan, 826.5 million yuan, and 666.9 billion yuan. In addition to 2023, Keep’s five -year losses were 2.261.7 billion yuan.

If profitability is the first target of Keep after the listing of Hong Kong stocks, the current financial report is worthy of recognition.It also indicates that Keep has become lighter and lighter on the road of profit.

The business model enters the positive cycle

Keep’s business exploration journey can be described as a step -by -step camp and gradually upgrade.

At the beginning, it cleverly used free training courses to quickly gather a large number of users who are keen on fitness, laying a solid user foundation.But just relying on free lunch to attract attention, obviously not long -term schemes, and the weakness of business models gradually revealed.

In order to break this dilemma, Keep began to broaden the service category, and launched a more personalized intelligent training plan and membership privilege, which aims to transform the huge user base into a stable source of income.At the same time, it is also not satisfied with only software services, but is brave to break through the smart hardware market, strives to build a closed -loop ecosystem of software and hardware linkages, and provides users with a more complete and more convenient sports experience.

Keep has not stopped here.It knows that if you want to stand out in a fierce competition market, you must continue to innovate.As a result, technology research and development investment has been increased, and it strives to provide users with a smoother and efficient integrated movement solution for the integration of content and hardware.

After listing, Keep’s business model shows strategic stability.Obtain customers through online fitness content, combined with online payment, sales of supporting fitness equipment, etc. to achieve closed loops.Throughout the business chain, user stickiness is the core fulcrum, leveraging the three main business of KEEP: its own brand sports products, online members and paid content, advertising and others.

It is worth noting that the revenue structure of Keep has changed significantly.According to last year, the revenue of KEEP online members and paid content was 996 million yuan increased by 11.4%year -on -year, accounting for 46.6%of the total revenue, exceeding its own brand sports products to become the largest source of revenue from Keep.

It is understood that in order to attract and inspire users to pay for participation, Keep has continued to innovate, and provides users with a diverse experience with hot IP, well -known brands and marathon events through independently designed physical prizes, virtual rights and interests, as well as the cooperation with popular IP, well -known brands and marathons.According to financial reports, the average income of paid users in each virtual sports event in 2023 increased by more than 30%year -on -year, showing that users’ willingness to pay is enhanced.

Keep once compared himself with Peloton, a well -known American online fitness platform. Peloton has won a good profit performance in the past few years with the sales of sports instruments.Keep is similar to it. In the past, its own brand sports products have always been a pillar of revenue. Today, this part of revenue is 946 million yuan, and the total revenue accounts for about 44.2%, which is less than paying for membership.

Keep pointed out in the financial report that the decline in the revenue of its own brand sports products is because the confidence of e -commerce consumers is lower than expected.In simple terms, the consumption needs of sports products are weakening, and this is also a common challenge facing the entire consumer market in recent years.

From a comprehensive analysis, Keep is positioned as the sports community platform, and the increase in paid user groups shows that its user stickiness and business performance have realized a positive cycle.Be more healthy.

However, it should be noted that its own sports products still account for a very high proportion, which is low, which will affect the company’s overall profit rhythm.In addition, the smart hardware track is already a red sea. Well -known brands such as Apple, Huawei, Xiaomi have already been involved, and their products are comparable to Keep’s products in terms of functions and prices.Therefore, Keep wants to stand out in this fiercely competitive market and face a lot of challenges.

Keep extends the movement circle layer

From the annual report data in 2023, we can clearly see the strong growth momentum of Keep in virtual sports events, which undoubtedly has become a new fortress in the exploration of Keep in the stadium.

Last year, the average revenue increased by the paid users of each virtual sports event to Keep exceeded 30%year -on -year. This result undoubtedly proved the market’s attractiveness and operational strength of Keep in the field of virtual sports events.

The “Guide to the Popular Movement Trend of 2024” shows that the sport -driven movements such as cycling, marathon, eight sections, and skateboarding are getting hotter.Under this trend, Keep also conforms to the trend of diversification of public sports fitness, and has become a better content community and sports fitness tools through category expansion and rich interaction.

Keep announced the app8.0 upgrade at the annual spring conference.The new version function is mainly reflected in: the recording function broaden the scope of the sports category and the access of external hardware equipment, and in addition to the original field of training and yoga, the outdoor running route is rich.Professional running crowds have provided targeted courses.

According to Peng Wei, co -founder of Keep, Keep 8.0 has covered over 100,000 running routes in more than 300 cities across the country. This year’s data will expand to 5 million.Keep also shows the results of providing technical services for professional marathon events.

It is worth mentioning that at present, Keep has successfully held more than 600 medals, attracting more than 10 million users to participate.In the future, Keep will also cooperate with more trend IPs to further meet the diverse sports preferences of young people.

Through the successful operation of virtual events, Keep found the key to the operation of the sports community, and applied this secret to this success to more project events and richer gameplay.Wang Ning, chairman and CEO of Keep’s board of directors, said that with the continuous heating of offline professional events, Keep is working closely with many well -known marathon organizers to provide more opportunities and choices for running enthusiasts.

For Keep, this method of driving other businesses to break through the ceiling with content is lighter, more flexible, and has stronger growth momentum.

Use AI to grab high -quality traffic

Regarding the next work focus, Keep said in the financial report that it will invest in immersive, exclusive and professional online fitness content to obtain and retain high -quality users; expand and improve outdoor functions and products; develop and apply new technologies and intelligenceFunction, exploring the application opportunities of AI technology in overseas markets; continuously promoting user conversion, improving commercial efficiency, and cooperating with well -known brands to obtain new users.

In order to continue to reduce costs and improve content research and development, Keep claims that investment opportunities in the field of artificial intelligence will be strengthened to explore the application opportunities of AI technology in overseas markets.At the Spring Conference, Peng Wei, co -founder of Keep, revealed that 15%of Keep’s official sports courses are currently produced by artificial intelligence technology.

The significant advantage of Keep in the field of AI technology is that it has a large number of industry corpus, which provides a solid support for the intelligence level of its AI system.With the continuous evolution of AI technology, it is foreseeable that the future fitness courses and equipment will be more closely integrated to provide users with more personalized fitness guidance.

Although the current application of AI in the field of fitness is still in the initial stage, it takes time to improve and enhance the user experience, this development trend is clear.Keep has fancy this trend and actively acts in the AI field, especially in the core areas of professional courses and sports data.

It is understood that through advanced algorithm technology, Keep continuously improves the professionalism of its curriculum content and the accuracy of motion evaluation.At present, its sports evaluation system has been able to provide accurate exercise loads and maximum oxygen volume such as motion users without heart rate equipment without heart rate equipment.At the same time, in the official sports course, the total number of AIGC produced has reached 5,000.In the future, Keep also plans to further increase the investment in these two aspects in order to provide users with better and personalized fitness services.

In terms of product and content balance, Keep has gradually tilted the focus on online content.By the end of 2023, the number of recording and broadcasting courses provided by members has doubled, reaching an amazing 4225 section.This transformation not only reflects the attention of KEEP on the line content, but also reflects its determination to meet the needs of high -quality fitness content that meets users.

Now that it has entered the era of traffic stock, traffic growth is not easy. For Keep, if you want to further develop, you can only take the exquisite road, do good service, and do fine content. AI is definitely a strong starting point.There are also reasons here to believe that with the running of KEEP’s commercialization path, the next Keep’s financial report will emerge more surprises.

Keji Hui | Zhang Zipeng Newsmedia007


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