Core Viewpoint - Meitu Company (01357) has shown a positive market response with a stock price increase of over 5%, currently trading at 10.47 HKD, following the announcement of its mid-year financial results and a share buyback plan by its founder and CEO, Wu Zeyuan [1] Financial Performance - For the six months ending June 30, 2025, Meitu reported revenue of 1.821 billion RMB, representing a year-on-year increase of 12.34% [1] - Gross profit reached 1.34 billion RMB, up 27.26% year-on-year [1] - Shareholders' profit attributable to the company was 397 million RMB, reflecting a 30.84% increase compared to the previous year [1] - Basic earnings per share were reported at 0.09 RMB [1] - The company proposed an interim dividend of 0.045 HKD per ordinary share [1] Share Buyback Announcement - On August 21, 2025, Wu Zeyuan informed the board of his intention to purchase 700,000 shares at an average price of 10.00 HKD per share in the open market [1] - Wu expressed confidence in the company's future business outlook and indicated the possibility of further share purchases at an appropriate time [1] Business Growth Drivers - The revenue growth was primarily driven by the rapid increase in income from subscription-based imaging and design products, attributed to a rise in the number of paying subscribers during the reporting period [1]

Core Viewpoint - Meitu Inc. has shown a significant increase in stock price and user engagement, indicating strong market performance and growth potential in the AI-driven technology sector focused on imaging and design solutions [1][2]. Group 1: Company Performance - As of August 22, Meitu's stock price rose by 5.15%, reaching HKD 10.62 per share with a trading volume of HKD 735 million [1]. - By mid-2025, Meitu's total revenue was reported at RMB 1.821 billion, with a net profit of RMB 397 million [2]. Group 2: User Engagement - By June 2024, Meitu's monthly active users reached 258 million, with 84.73 million users located outside mainland China [1].

Core Viewpoint - The company reported a significant increase in revenue and adjusted net profit for the first half of 2025, driven by high-margin core businesses and a growing user base in both domestic and international markets [1][4]. Financial Performance - Revenue for the first half of 2025 grew by 12.3% year-on-year to RMB 1.821 billion, while adjusted net profit increased by 71.3% to RMB 467 million [1]. - Gross profit rose by 27.3% to RMB 1.34 billion, with a gross margin increase of 8.7 percentage points to 73.6% [1]. - The company declared an interim cash dividend of HKD 0.045 per share, with expectations of stable annual dividend rates [1]. Business Segments - The core imaging and design products generated revenue of RMB 1.351 billion, a 45% year-on-year increase, primarily driven by user growth [1]. - Monthly Active Users (MAU) reached 280 million, up 8.5% year-on-year, with significant growth in productivity tools MAU, which increased by 21% to 23 million [1]. - Advertising revenue grew by 5% to RMB 434 million, supported by overseas programmatic advertising and ongoing optimization [1]. - Revenue from beauty industry solutions decreased by 89% to RMB 30.1 million due to a focus on core business and a reduction in supply chain management services [1]. Product Development - The company launched the AI design assistant, RoboNeo, which has gained popularity in the iOS graphic design category, enhancing the company's AI application ecosystem [2][3]. - The introduction of AI AGENT products is expected to improve user efficiency and lower operational barriers, potentially increasing the paid user conversion rate [3]. Strategic Partnerships - The company has entered a strategic partnership with Alibaba, which will invest USD 250 million through convertible bonds, focusing on AI technology, e-commerce platforms, and cloud computing [3]. Investment Outlook - The company maintains a "strong buy" investment rating, anticipating continued revenue growth driven by high-margin core businesses and expanding commercial opportunities in both lifestyle and productivity applications [4]. - Projected revenues for 2025-2027 are RMB 4.035 billion, RMB 4.950 billion, and RMB 5.847 billion, with adjusted net profit expectations of RMB 940 million, RMB 1.21 billion, and RMB 1.49 billion respectively [4].

Core Viewpoint - The company reported a total revenue of 1.82 billion yuan for H1 2025, reflecting a year-on-year growth of 12%, driven by strong performance in imaging products [1] - Adjusted net profit reached 470 million yuan, marking a significant increase of 71% year-on-year, with an adjusted net profit margin of 26% [1] Revenue Breakdown - Imaging and design products revenue grew by 45%, while advertising business revenue increased by 5%, and beauty solutions revenue declined by 89%, contributing 74%, 24%, and 2% to total revenue respectively [1] - Gross profit for H1 2025 was 1.34 billion yuan, up 27% year-on-year, with a gross margin of 74%, an increase of 9 percentage points [1] User Metrics - Monthly active users (MAU) reached 280 million, a 9% increase year-on-year, while VIP paid members grew to 15.4 million, up 42% [2] - The paid penetration rate stood at 5.5%, an increase of 1.3 percentage points year-on-year [2] Product Development - The company launched the AI agent product "roboneo," which has exceeded one million MAU without any promotional efforts, indicating strong user engagement [4] - The company plans to enhance monetization strategies for the agent product by introducing subscription and one-time purchase options by the end of August [4] Strategic Partnerships - Collaboration with Alibaba on AI dressing features is expected to drive revenue growth by enhancing online shopping experiences through AI capabilities [3] - The partnership aims to integrate AI try-on functionalities with Alibaba's e-commerce platform, facilitating better product recommendations and conversions [3] Future Projections - The company has raised its profit expectations for 2025-2027, forecasting adjusted net profits of 1.0 billion, 1.33 billion, and 1.57 billion yuan respectively, reflecting a compound annual growth rate (CAGR) of 39% [5] - The company anticipates an increase in paid penetration rates, projecting rates of 6.1%, 7.0%, and 7.8% for the years 2025, 2026, and 2027 respectively [4]

Core Viewpoint - The company reported a revenue of 1.82 billion RMB for H1 2025, a year-on-year increase of 12.3%, which was below market expectations primarily due to a significant contraction in beauty industry solutions [1] - The adjusted net profit attributable to the parent company reached 467 million RMB, reflecting a year-on-year growth of 71.3%, indicating the effectiveness of the company's "productivity and globalization" strategy [1] Revenue Performance - The imaging and design products generated 1.35 billion RMB in revenue, a year-on-year increase of 45.2%, driven by the growth in paid subscription users [1] - The total number of paid subscription users reached 15.4 million, a year-on-year increase of 42%, with a penetration rate of 5.5% [1] - Advertising revenue grew by 5% to 430 million RMB, while revenue from beauty industry solutions declined by 88.9% to 30.1 million RMB due to the company's strategic contraction in this area [1][2] Cost Management - Sales expenses increased by 43.1% to 293 million RMB, primarily directed towards overseas lifestyle products and domestic productivity and lifestyle product promotions [2] - R&D expenses saw a slight increase of 6.1% to 451 million RMB, focusing on a combination of open-source model fine-tuning and self-developed vertical models [2] - Management expenses rose by 23.2% to 219 million RMB, attributed to increased equity incentive costs [2] Strategic Collaborations - The company is focusing on the commercialization progress of RoboNeo and its collaboration with Alibaba, which includes optimizing product effects and launching AI fitting features [3] - RoboNeo achieved over one million MAU shortly after its launch, with plans to introduce a complete subscription and purchase mechanism by late August or early September [3] Investment Outlook - The company is focusing on subscription growth, with high-margin subscription business increasing its share, and effective cost management leading to revised profit forecasts for 2025-2027 [4] - The adjusted net profit estimates for 2025, 2026, and 2027 have been raised to 960 million, 1.24 billion, and 1.52 billion RMB respectively, reflecting increases of 13%, 9%, and 7% [4]

Core Viewpoint - The company has frequently launched new AI features in the first half of the year, driving significant growth in core C-end product downloads, especially in overseas markets [1][5] - The introduction of the AI agent product RoboNeo aligns with the trend of AI agent applications, providing growth potential for long-term ARPPU [1][5] - The company maintains a positive outlook on AI-driven operational data and performance growth [1][5] Financial Performance - In the first half of 2025, the company achieved revenue of 1.82 billion yuan, a year-on-year increase of 12.3%, with the imaging and design product business generating 1.35 billion yuan, up 45.2% [4] - Adjusted net profit attributable to the parent company reached 460 million yuan, a year-on-year increase of 71.3%, meeting the upper limit of performance forecasts [4] - Gross margin improved significantly to 73.6%, an increase of 8.7 percentage points, primarily due to the higher revenue share from high-margin imaging and design products [4] User Engagement Metrics - The company reported a total MAU of 280 million as of June 2025, a 6.7% increase from December 2024, with domestic MAU at 182 million (up 6.2%) and overseas MAU at 98 million (up 3.7%) [2][3] - The paid membership reached 15.4 million, with a payment rate of 5.5%, an increase of 0.8 percentage points from December 2024 [2][3] AI Product Development - The AI agent product RoboNeo entered the testing phase for C-end users by the end of June, achieving over one million MAU without cross-promotion from other Meitu products [2] - Future integration of RoboNeo into other Meitu products is anticipated as the product matures [2] Strategic Partnerships - The collaboration with Alibaba is progressing in three main areas: model cooperation, e-commerce integration, and cloud service collaboration [3] - The partnership aims to enhance product iteration speed and meet the growing computational demands of AI applications [3] Dividend Announcement - The company plans to distribute an interim dividend of 0.45 HKD per share, totaling approximately 206 million HKD, which represents about 40% of the adjusted net profit for the first half of 2025 [4]

美图公司(01357)发布公告，公司董事会获本公司创始人、董事长及首席执行官吴泽源先生(亦称为：吴 欣鸿先生)(吴先生)告知，吴先生于2025年8月21日于香港联合交易所有限公司公开市场以平均价每股 10.00港元购入本公司股份(股份)70万股(本次增持事项)。 紧接本次增持事项后，吴先生于本公司的合共权益由5.88亿股股份增加至5.887亿股股份，占本公司已发 行股本由约12.88%上升至约12.89%。 董事会获吴先生告知，他对本公司未来业务展望充满信心，且不排除会于适当时候进一步增持本公司股 份。 吴先生从未出售过本公司的任何股份，并且自2018年5月10日起数次增持本公司的股份。连同本次增持 事项，吴先生合共购买了398万股股份。 ...

Core Viewpoint - The company, Meitu Inc. (01357), announced that its founder, chairman, and CEO, Mr. Wu Zeyuan, purchased 700,000 shares at an average price of HKD 10.00 per share on August 21, 2025, indicating his confidence in the company's future prospects [1] Shareholding Activity - Mr. Wu has never sold any shares of the company and has increased his holdings multiple times since May 10, 2018 [1] - Including this recent purchase, Mr. Wu has acquired a total of 3.98 million shares [1] - Following this transaction, Mr. Wu's total shareholding increased from 588 million shares to 588.7 million shares, raising his ownership percentage from approximately 12.88% to 12.89% of the company's issued share capital [1] Future Outlook - The board was informed by Mr. Wu that he is optimistic about the company's future business outlook and does not rule out the possibility of further increasing his shareholding at an appropriate time [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) 自願性公告 本公司創始人、董事長及首席執行官增持股份 本公告乃由美图公司（「本公司」）自願作出。 本公司董事會（「董事會」）獲本公司創始人、董事長及首席執行官吳澤源先生（亦稱為：吳 欣鴻先生）（「吳先生」）告知，吳先生於二零二五年八月二十一日於香港聯合交易所有限公司 公開市場以平均價每股10.00港元購入本公司股份（「股份」）700,000股（「本次增持事項」）。 吳先生從未出售過本公司的任何股份，並且自二零一八年五月十日起數次增持本公司的股份。 連同本次增持事項，吳先生合共購買了3,980,000股股份。 緊接本次增持事項後，吳先生於本公司之合共權益由587,996,670股股份增加至588,696,670 股股份，佔本公司已發行股本由約12.88%上升至約12.89％。 董 ...

Summary of Meitu Company Conference Call Industry Overview - The beauty and photography enhancement industry is currently stable, characterized by a duopoly between "Byte" and "Photography" systems, with user penetration rates maintained between 20%-23% from Q1 2023 to Q1 2025, indicating a mature market with balanced competition [9][10]. Company Strategies and Developments - Meitu Company maintains a leading position in the competitive beauty enhancement sector through strong channel capabilities and a centralized system, allowing for flexibility in market response and proactive planning [2][5]. - The company has three main development strategies: 1. Core product operation in overseas markets 2. Global expansion of productivity tools like "Meitu Designer" (compared to KAVA) 3. Continuous penetration of AI technology across products to enhance subscription rates [2][5]. Financial Performance - Meitu is transitioning from traffic monetization to subscription monetization, aiming for an overall subscription rate of 4.7% by 2024, doubling from 2022. Subscription revenue is projected to become the main source of income, with gross margins recovering from 15% to 69% [2][6][7]. - Since 2019, subscription revenue has rapidly increased as a proportion of total income, becoming a key pillar of the company's revenue structure [7]. Product and Technology Advancements - AI technology is being utilized for comprehensive product upgrades, including the launch of the "Qixiang" model, which offers features like video generation and text-to-image capabilities, helping maintain market competitiveness [2][8]. - Meitu's core product, Meitu Xiuxiu, holds a dominant market share of approximately 59% in the domestic image editing sector, benefiting from a large and sticky user base [4][11]. Market Position and Competition - Meitu's ecosystem holds a market share of 55.96%, with the "Byte" system following at 22.12%, establishing a strong competitive landscape [10]. - The global creative cloud market is expected to grow significantly, reaching $91 billion by 2027, with Meitu Designer focusing on the e-commerce vertical to reduce design costs for small and medium-sized businesses [4][16]. Future Outlook - Meitu's future focus will shift from advertising to enhancing leading businesses and subscription services, with expectations of strong performance in Southeast Asia due to AI technology [17]. - Collaboration with Alibaba is anticipated to enhance Meitu's technological capabilities and market competitiveness, potentially opening new growth avenues [18]. Long-term Financial Projections - For 2024, domestic and overseas renewal rates are projected at approximately 4% and 5%, respectively, with potential revenue reaching 200 million RMB domestically and 400 million RMB overseas if renewal rates increase [19][20]. Impact of AI on Content Production - The AI era is lowering barriers in content production, and Meitu is positioned to become a significant player in the AIGC field, leveraging its product advantages and rapid response to AI feature iterations [21].