Meitu (HK:1357) has released an update.
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Meitu, Inc. forecasts a significant increase of at least 80% in adjusted net profit for the first half of 2024 compared to the same period in the previous year, attributing this growth to robust revenues from its photo, video, and design products business. The profitability is driven by the success of its subscription model and the company’s adoption of Generative AI technology, which has enhanced product capabilities and user engagement. Investors are cautioned that these preliminary results are yet to be finalized or reviewed by auditors, with the official interim results announcement expected around August 2024.
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