Core Viewpoint - Meitu Inc. announced the grant of a total of 4.5 million shares to CEO Wu Zeyuan under the 2024 CEO Incentive Plan, which represents approximately 0.099% of the total issued shares as of the announcement date, pending acceptance by Wu [1] Summary by Categories Share Awards - The share awards to Wu Zeyuan will vest on October 1, 2026, and do not have any performance targets attached [1] - Additionally, the board announced the grant of a total of 253,065 shares to certain other employees, which represents approximately 0.006% of the total issued shares as of the announcement date [1]

Core Viewpoint - Meitu Company (01357) announced the grant of a total of 4.5 million shares to Mr. Wu Zeyuan under the 2024 CEO Incentive Plan, representing approximately 0.099% of the total issued shares as of the announcement date, pending acceptance by Mr. Wu [1] Summary by Categories Share Awards - The share awards to Mr. Wu Zeyuan will vest on October 1, 2026, and do not have any performance targets attached [1] - Additionally, the board announced the grant of a total of 253,065 shares to certain other employees under the share award plan, representing approximately 0.006% of the total issued shares as of the announcement date, also pending acceptance by those employees [1]

Core Points - Meitu Company (01357) announced the grant of a total of 4.5 million shares to Mr. Wu Zeyuan under the 2024 CEO Incentive Plan, representing approximately 0.099% of the total issued shares as of the announcement date, pending acceptance by Mr. Wu [1] - The share award will vest on October 1, 2026, and does not have any performance targets attached [1] - Additionally, the board announced the grant of a total of 253,065 shares to certain other employees under the share award plan, representing approximately 0.006% of the total issued shares as of the announcement date, also pending acceptance by those employees [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示概不會就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承 擔任何責任。 Meitu, Inc. 美图公司 （於開曼群島註冊成立的有限公司，並以「美圖之家」名稱於香港經營業務） (股份代號:1357) 根據股份獎勵計劃授出股份獎勵 本公告乃由美图公司（「本公司」，連同其子公司及合併聯屬實體，統稱「本集團」）根據上市 規則17.06A發佈。 參考本公司於2024年10月1日發布的公告，根據該公告，董事會（包括獨立非執行董事）根據 未來3.5年擬授出給吳澤源先生（「吳先生」，董事長、執行董事兼首席執行官）的股份獎勵制 定了一項股份獎勵分配及歸屬計劃（「2024首席執行官激勵計劃」），而該激勵計劃與一般互聯 網公司的市場慣例做法一致。 董事會宣佈，於2025年10月1日，本公司根據2024首席執行官激勵計劃向吳先生授出合共 4,500,000股股份獎勵，即4,500,000股股份，佔截至本公告日期已發行股份總數（不包括庫 存股份，如有）約0.099%，惟須待吳先生接納。該等股份獎勵 ...

目錄 2 公司資料 4 2025年上半年摘要 6 主要財務數據 7 主要運營數據 8 董事長報告 10 管理層討論與分析 23 其他資料 34 中期財務資料審閱報告 35 中期簡明合併收入表 36 中期簡明合併綜合收益表 37 中期簡明合併資產負債表 39 中期簡明合併權益變動表 41 中期簡明合併現金流量表 43 中期簡明合併財務資料附註 74 釋義 公司 資料 董事會 執行董事 吳澤源先生 （董事長及首席執行官） （亦稱為：吳欣鴻先生） 非執行董事 陳家荣先生 洪育鵬先生 2025年 中期報告 獨立非執行董事 周浩先生 賴曉凌先生 潘慧妍女士 審計委員會 周浩先生 （主席） 賴曉凌先生 洪育鵬先生 薪酬委員會 賴曉凌先生 （主席） 周浩先生 潘慧妍女士 提名委員會 吳澤源先生 （主席） 周浩先生 潘慧妍女士 公司秘書 顏勁良先生 授權代表 總部 中華人民共和國 福建省廈門市同安區 濱海西大道2557號 美峰創谷2號樓 美圖大廈 香港主要營業地點 吳澤源先生 顏勁良先生 核數師 羅兵咸永道會計師事務所 執業會計師 註冊公眾利益實體核數師 註冊辦事處 Cricket Square, Hutchins Driv ...

Summary of Meitu Inc. Conference Call Company Overview - **Company**: Meitu Inc (1357.HK) - **Industry**: Greater China IT Services and Software - **Current Stock Price**: HK$9.57 (as of September 18, 2025) - **Market Capitalization**: RMB 40,270 million - **52-Week Price Range**: HK$2.04 - HK$12.56 - **Stock Rating**: Overweight [6][65] Key Takeaways - **DesignKit Launch**: Meitu's DesignKit has been launched on Amazon, qualifying to enter the Amazon Solution Provider Network (SPN), which allows it to serve e-commerce merchants, particularly cross-border merchants from China. This is seen as a positive development for DesignKit, which is a key productivity product for Meitu [9][4]. - **Revenue Growth Projections**: Revenue is projected to grow from RMB 3,341 million in FY 2024 to RMB 6,771 million by FY 2027, indicating a compound annual growth rate (CAGR) of approximately 30% [6]. - **Earnings Per Share (EPS)**: EPS is expected to increase from RMB 0.13 in FY 2024 to RMB 0.40 by FY 2027 [6]. - **EBITDA Growth**: EBITDA is forecasted to rise from RMB 584 million in FY 2024 to RMB 2,131 million by FY 2027 [6]. - **Valuation Methodology**: The company is valued using a 10-year Discounted Cash Flow (DCF) model, with a Weighted Average Cost of Capital (WACC) of 10.9% and a terminal growth rate of 3% [10]. Risks and Opportunities - **Upside Risks**: - Faster user penetration due to AI adoption and increased market share overseas - Higher-than-expected Average Revenue Per Paying User (ARPPU) - Improved operating leverage [12]. - **Downside Risks**: - Slower-than-expected growth in paying users - Increased R&D expenses related to AI development - Heightened competition from larger internet companies [12]. Financial Metrics - **Projected Revenue**: - FY 2024: RMB 3,341 million - FY 2025: RMB 4,021 million - FY 2026: RMB 5,120 million - FY 2027: RMB 6,771 million [6]. - **Projected EBITDA**: - FY 2024: RMB 584 million - FY 2025: RMB 1,040 million - FY 2026: RMB 1,504 million - FY 2027: RMB 2,131 million [6]. - **Projected P/E Ratios**: - FY 2024: 21.1 - FY 2025: 42.3 - FY 2026: 32.0 - FY 2027: 21.9 [6]. Conclusion Meitu Inc is positioned for significant growth, particularly through its DesignKit product and expansion into e-commerce via Amazon. The financial projections indicate strong revenue and EBITDA growth, although the company faces risks from competition and user growth dynamics. The current stock rating of Overweight suggests a favorable outlook for investors.

Group 1 - American Bank has initiated coverage on Meitu with a "Buy" rating and a target price of HKD 13.5, projecting a compound annual growth rate (CAGR) of 42% for adjusted net profit from 2024 to 2027 [1] - The report highlights that Meitu's global paid user rate is expected to rise due to the flywheel effect of AI, with productivity tools becoming a new growth driver for the company [1] - Revenue from Meitu's productivity tools is anticipated to grow at a CAGR of 58% to reach RMB 825 million by 2027, accounting for 14% of total revenue [1] Group 2 - As the paid user rate increases and productivity tools expand, subscription revenue is projected to account for approximately 80% of Meitu's total revenue by 2027, indicating higher revenue stability and visibility [1] - The improvement in subscription revenue share is expected to enhance gross margins and lower customer acquisition costs, leading to sustained profitability and profit expansion driven by operational leverage from subscription business [1] - On September 12, Meitu's stock rose over 5% following the announcement of a partnership with Alibaba's Tongyi Laboratory to enhance its products with advanced AI models [2] - The collaboration aims to provide a new intelligent imaging experience for Meitu's global users, leveraging AIGC technology for industrial applications in imaging, design, and film [2] - Prior to this, other institutions, including Dongfang Securities, have also issued "Buy" ratings for Meitu, with a target price of HKD 13.25 [2]

Core Viewpoint - Meitu Company (01357) has seen a stock increase of over 5%, currently trading at HKD 9.62 with a transaction volume of HKD 495 million, following a partnership announcement with Alibaba's Tongyi Laboratory to enhance its products with advanced AI models [1] Group 1: Partnership and Collaboration - Meitu has partnered with Alibaba's Tongyi Laboratory, utilizing the Tongyi Wanshang series AI models to provide a new intelligent imaging experience for global users [1] - The collaboration aims to explore further innovative possibilities in the future [1] Group 2: Industry Insights - According to Dongfang Securities, the image editing sector benefits from significant advancements in diffusion models for generative tasks, providing foundational support for product innovation [1] - Meitu's accumulation of technical and aesthetic data positions the company to capitalize on technological dividends [1] Group 3: Product Development - The company is accelerating product version iterations and new feature launches, with a notable increase in the proportion of AI functionalities [1]

Core Viewpoint - Meitu Inc. has seen a stock price increase of over 5%, currently trading at 9.62 HKD with a transaction volume of 495 million HKD, following a partnership announcement with Alibaba's Tongyi Laboratory to enhance its products with advanced AI models [1] Group 1: Partnership and Collaboration - Meitu has entered into a collaboration with Alibaba's Tongyi Laboratory, which will utilize the Tongyi Wanshang series of AI models to provide a new intelligent imaging experience for Meitu's global users [1] - The partnership aims to explore further innovative possibilities in the fields of imaging, design, and film through the industrialization of AIGC technology [1] Group 2: Market and Technology Insights - According to Dongfang Securities, the image editing sector is benefiting from significant advancements in diffusion models for generative tasks, providing foundational support for product innovation [1] - Meitu's accumulation of technical and aesthetic data positions the company to capitalize on technological dividends, with accelerated product version iterations and a notable increase in AI feature integration [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示概不會就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承 擔任何責任。 Meitu, Inc. 美图公司 （於開曼群島註冊成立的有限公司，並以「美圖之家」名稱於香港經營業務） (股份代號:1357) 於二零二五年九月十日（星期三）舉行的特別股東大會的 投票表決結果 參考美图公司（「本公司」）日期為二零二五年八月二十五日的通函（「通函」）及特別股 東大會通告（「大會通告」）。除非文義另有所指，否則本公告所用詞彙與通函所界定者具 有相同涵義。 特別股東大會的投票表決結果 董事會宣佈本公司於二零二五年九月十日（星期三）上午11 時正（香港時間）在香港九龍柯 士甸道西一號環球貿易廣場香港麗思卡爾頓酒店8樓碧玉廳舉行的特別股東大會上，大會通 告所載的第一項建議決議案（「第一項決議案」）已獲股東以投票表決方式正式通過。有關 決議案的詳情，股東可參考大會通告和通函。 投票表決結果如下： | | 普通決議案 | 票數 （概約百分比） | | | --- | --- | --- | --- ...