As of December 31, 2022, we had a total of 245 accounts operated by MCN on various Internet platforms with approximately 36.0 million followers.
Business · p. 214
We do not rely on any specific platform or account to obtain traffic, attract customers or generate sales.
Business · p. 214
During the Track Record Period, we acquired an increasing amount of traffic through MCN channels, benefiting from the higher exposure brought by the social media platforms.
Our average internet traffic procurement expenses per new paying user during the Track Record Period amounted to RMB5,219, RMB9,303, RMB6,091 and RMB14,003 in 2019, 2020, 2021 and the ten months ended October 31, 2022, respectively.
Summary · p. 7
The recent increase in such cost was mainly due to (i) the decrease in the number of paying users for online financial literacy education services and the standard version of financial information software services, and (ii) our strategic focus on customers with higher average spending, both of which have contributed to the increase in average internet traffic procurement expenses per new paying user.
Summary · p. 7
According to Frost & Sullivan, our efficiency in user acquisition is generally in line with the industry average, as indicated by our sales and marketing expenses as well as the growth of gross billing during the Track Record Period.