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Meitu ( (HK:1357) ) has provided an announcement.
Meitu, Inc. has announced a strategic collaboration with Alibaba.com China Limited, a subsidiary of Alibaba Group, focusing on e-commerce, AI technology, and cloud computing. As part of this partnership, Meitu will issue convertible bonds worth approximately US$250 million to Alibaba, aiming to leverage AI opportunities for long-term growth. This collaboration is expected to strengthen Meitu’s market position and drive future growth, although the bonds will not be listed on any stock exchange.
The most recent analyst rating on (HK:1357) stock is a Buy with a HK$5.10 price target. To see the full list of analyst forecasts on Meitu stock, see the HK:1357 Stock Forecast page.
More about Meitu
Meitu, Inc. is a company incorporated in the Cayman Islands and operates in Hong Kong under the name ‘美圖之家’. The company is involved in industries such as e-commerce, AI technology, and cloud computing.
Average Trading Volume: 87,343,716
Technical Sentiment Signal: Buy
Current Market Cap: HK$26.57B
Find detailed analytics on 1357 stock on TipRanks’ Stock Analysis page.