Meitu Announces Strong Profit Growth Driven by AI Innovations

Meitu ( (HK:1357) ) has issued an update.

Meitu, Inc. has announced a significant year-over-year growth in its adjusted net profit for 2024, driven by strong revenue from its core AI-powered photo, video, and design products. The company has achieved high gross profit margins and an effective globalization strategy, with revenue growth in foreign markets surpassing that in mainland China. Additionally, positive impacts from non-operating items, including gains from cryptocurrency disposals, have contributed to an expected increase of 103% to 116% in net profit according to International Financial Reporting Standards. However, actual results may vary as the management accounts have not been audited.

More about Meitu

Meitu, Inc. is a company incorporated in the Cayman Islands, operating primarily in Hong Kong. It specializes in photo, video, and design products enhanced with Artificial Intelligence features. The company is focused on expanding its market presence beyond mainland China, emphasizing a globalization strategy.

YTD Price Performance: 53.42%

Average Trading Volume: 5,086

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $2.66B

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