vegas2webnodepositbonuscodes|Keep 年度报告透露3大方向，机构看好其会员模式与消费品业务
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Recently, sports technology company Keep (03650) released its 2023 annual report, which comprehensively presents the development status and achievements of Keep in 2023.
On the financial side, Keep's total revenue in 2023 was 21.Vegas2webnodepositbonuscodesRMB 3.8 billion (the same below), and the adjusted net loss (measured by non-IFRS, the same below) is 2.Vegas2webnodepositbonuscodes9.5 billion yuan, down 55.7% from 667 million yuan in 2022, and the adjusted net loss rate narrowed from 30.2% to 13.8%. Keep gross profit increased for four consecutive years, from 273 million yuan in 2019 to 962 million yuan in 2023. The operating cost of Keep has decreased by 10.3% to 1.176 billion yuan from 1.311 billion yuan in 2022, and the operating efficiency has improved significantly.
Keep revenue sources are mainly divided into: private brand sports products (consumer goods), online members and paid content (online business) and advertising and others. Of this total, revenue from online members and paid content was 996 million yuan, up 11.4 percent from the same period last year, accounting for 46.58 percent from 40.4 percent in 2022, revenue from own-brand sports products was 946 million yuan, accounting for 44.24 percent, and advertising and other revenue was 196 million yuan, accounting for 9.18 percent, an increase of 8.6 percent over the same period last year.
Debang Securities pointed out that Keep, as the largest online fitness platform in the country, has gradually highlighted its advantages in terms of content acquisition and member cashing. the current member penetration rate has reached 10.7%. It is expected that with the improvement of high-quality content, outdoor scene expansion and AI empowerment, member retention and transformation is expected to be further improved. In terms of the realization of consumer goods, the company has gradually built its intelligent fitness equipment and supporting product matrix, which is expected to lead to the improvement of consumer goods business in 2024 with the return of consumer sentiment.
According to the annual report, based on the company's business development, there will be an additional layout of online content, outdoor and AI in the future.
In terms of online content, Keep will continue to invest in immersive, exclusive and professional online fitness content to build a strong business foundation, obtain and retain high-quality users, and consolidate the leading position in the online fitness market.
In terms of outdoor business, Keep will further expand and improve outdoor functions and products to better serve outdoor users. For example, Keep's recently fully upgraded version 8.0 of App can provide users with a better outdoor sports experience and deeper community interaction features.
Based on the current trend of sports intelligence, Keep will develop and apply new technologies and intelligent functions, actively explore the application opportunities of AI technology in overseas markets, use AI to drive innovation, provide users with excellent sports experience in a more efficient way, attract new user groups, and explore new commercial opportunities.
In recent years, the scale of outdoor sports continues to improve. According to the National Outdoor Sports Industry Development Plan (2022-2025), up to now, the number of outdoor sports participants has exceeded 400 million, and the total scale of outdoor sports industry will exceed 3 trillion yuan by 2025. Keep cuts into the outdoor field by providing online services, outdoor sports equipment and building a sports trend IP, seeking more commercial opportunities for future development.
