Core Viewpoint - Huatai Securities reported that Meitu's revenue for the first half of the year was 1.82 billion yuan, representing a year-on-year growth of 12.3%, with core business revenue from imaging and design products reaching 1.35 billion yuan, a year-on-year increase of 45.2%, which met expectations [1] Financial Performance - Adjusted net profit was 470 million yuan, exceeding expectations by 10% and reaching the upper limit of the performance forecast [1] - The number of paying users reached 15.4 million, a year-on-year growth of 42%, with a paying penetration rate of 5.5% [1] Investment Outlook - The firm is optimistic about Meitu's long-term prospects, raising the target price from 7.48 HKD to 12.83 HKD, with a "Buy" rating [1]