Hello Group is a Chinese mobile social networking company that operates two core platforms: Momo and Tantan. Momo is a location-based social app connecting adults for friendship, entertainment, and casual social interaction through live talent shows, audio and video chat rooms, online karaoke, and short video formats. Tantan is a swipe-based dating app modeled on Tinder, targeting users seeking romantic connections in mainland China and other Asian markets. Both apps are free to download, with nearly all revenue coming from value-added services (VAS) — primarily virtual gifting, where users purchase virtual gifts for live broadcasters and entertainers, and premium subscriptions that unlock enhanced matching and profile features. Virtual gifting is the dominant revenue driver, though Hello Group shares a portion of gift revenue with broadcasters and talent agencies, making payout ratios a key margin driver. Hello Group is expanding aggressively overseas, with a growing portfolio of audio and video social entertainment apps in the Middle East and North Africa (MENA region) — led by SoulChill — and dating apps in developed markets, including Happn in Europe and MiraiMind in Japan. Management treats Momo as a mature cash-generating business, Tantan as a brand-building exercise targeting Asian dating users globally, and overseas as its primary growth engine, targeting roughly RMB 3B in overseas revenue for FY26. Hello Group returns capital to shareholders through annual dividends and ongoing share repurchases.