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(1357.HK)：付费率加速提升 看好AI加速全球化和生产力战略