BABA(US:BABA) Zheng Quan Shi Bao Wang·2025-12-31 12:19Core Viewpoint - Meitu Company has successfully completed the issuance of a $250 million convertible bond to Alibaba, marking a significant step in their strategic partnership focused on e-commerce, large models, and cloud computing [1][2]. Group 1: Convertible Bond Issuance - On December 31, Meitu announced the completion of the $250 million convertible bond issuance to Alibaba, as per the subscription agreement [1]. - The convertible bond allows Alibaba to convert the investment into Meitu shares at a price of HKD 6 per share [1]. Group 2: Strategic Cooperation Areas - The collaboration between Meitu and Alibaba will focus on three main areas: large models, e-commerce, and cloud services [1]. - In the large models area, Alibaba will provide technical support for model training, including framework selection and data processing [1]. - In e-commerce, Meitu will leverage its AI fitting capabilities alongside Alibaba's merchant resources to enhance the "AI fitting" feature [1]. - For cloud services, Meitu's RoboNeo product will maintain stability through Alibaba Cloud [1]. Group 3: Business Cooperation Agreement - Meitu has signed a business cooperation agreement with Alibaba on December 30, which will lead to further specific arrangements through specialized agreements [2]. Group 4: Use of Proceeds - The net proceeds from the convertible bond will be used for general business purposes [3].