As of 30 June 2022, we recorded advertising technology business revenue of US$449.2 million (corresponding period in 2021: US$307.3 million), 46.2% higher on a YoY basis. Our advertising technology business revenue comes from two business departments: Mintegral and Nativex. Among them, the revenue from Mintegral platform was US$410.7 million, accounting for 91.4% of the advertising technology business revenue. Revenue from the Nativex platform was US$38.5 million, accounting for 8.6% of advertising technology business revenue. During the Reporting Period, the revenue of Nativex platform decreased by 53.4% to US$38.5 million (corresponding period in 2021: US$82.6 million). The decrease is primarily due to our top media agency business being divested during the reporting period. At the same time, benefiting from the Group’s transformation strategy, 2022 Mintegral’s scale-priority development strategy, and various factors such as the intensified scale effect and platform effect of the Mintegral platform, Mintegral platform revenue achieved an increase of 82.8% on a YoY basis to US$410.7 million (corresponding period in 2021: US$224.7 million). Although the Group withdrew from the top media agency business from March 2022, the affiliates marketing business in Nativex has a good cash flow and is a stable source of profit for the Group; Therefore the Group will continue to develop this business. In addition, the industry in which our programmatic business centered around Mintegral lies in, has grown rapidly with a relatively large addressable market. Lastly, our technology and business foundation in the related industry is solid, the business model is able to drive rapid growth of the business and maintain healthy cash flow, therefore the Group will continue to persevere and accelerate strategic transformation.
Main Operation and Financial Data of Mintegral 3.1.1. Main financial data During the Reporting Period, the Mintegral platform recorded revenue of US$410.7 million (corresponding period in 2021: US$224.7 million), a YoY increase of 82.8% compared to 2021, an increase of 17.2% comparing the first half of 2022 to the second half of 2021 (the second half of 2021: US$350.4 million). The third and fourth quarter of 2021, the first and second quarter of 2022, recorded revenue of US$160.0 million, US$190.4 million, US$200.1 million and US$210.6 million with an increase of 24.7%, 19.0%, 5.1% and 5.2% from the prior period, respectively.– 36 In addition, in order to further capture market share, establish first-mover advantages and strengthen the economics of scale, the Group regards the growth of platform scale and the expansion of multiple vertical categories as short-term strategic goals. During the Reporting Period, the results of these strategic objectives have gradually emerged.