Bei Jing Shang Bao·2025-05-21 12:17Core Viewpoint - Meitu announced a strategic partnership with Alibaba, involving a $250 million convertible bond investment with a 1% annual interest rate, aimed at enhancing Meitu's AI e-commerce tools and overall business development [3][4]. Group 1: Financial Aspects - The investment consists of a principal amount of $250 million, with a three-year term and a 1% annual interest rate [3]. - Meitu's revenue for 2024 is projected at 3.34 billion yuan, reflecting a 23.9% year-on-year growth, while the adjusted net profit is expected to reach 586 million yuan, marking a 59.2% increase from the previous year [3]. - If Alibaba exercises its conversion rights, it would hold approximately 7.35% of Meitu's shares based on the current issued shares, or about 6.85% based on the expanded share count after conversion [3]. Group 2: Business Collaboration - The collaboration focuses on four main areas, including the promotion of Meitu's AI e-commerce tools on Alibaba's global platform and the development of new data-driven tools for e-commerce [4]. - Meitu commits to purchasing no less than 560 million yuan in cloud services from Alibaba over the next three years [4]. - The partnership aims to explore innovative projects and enhance Meitu's product offerings through insights gained from Alibaba's ecosystem [4]. Group 3: Market Position and Competition - The investment and collaboration are seen as a strategic move by Alibaba to counter competition from AIGC (Artificial Intelligence Generated Content) tools in the content e-commerce space [5]. - Meitu's design tool ranks third in the graphics and design category on the Apple App Store, indicating its competitive position in the market [5].