Core Viewpoint - Meitu Inc. (01357) is projected to achieve a Non-IFRS adjusted profit growth of 60% to 66% year-on-year for 2025, aligning with market consensus, and is rated "Buy" by Jefferies with a target price of HKD 12.5 for H-shares [1] Group 1: Financial Performance - The forecasted growth is primarily driven by significant increases in global paid user numbers for core businesses such as photo, video, and design products [1] - Revenue growth is expected to be accelerated by the faster growth rate of overseas users compared to the Chinese market [1] - Gross profit is anticipated to grow at a rate faster than operating expenses, leading to operational leverage effects [1] Group 2: Market Potential - Jefferies expects Meitu to capitalize on the long-term potential of AIGC productivity tools [1]

Core Viewpoint - Jefferies published a report indicating that Meitu has forecasted a 60% to 66% year-on-year growth in Non-IFRS adjusted profit attributable to shareholders for 2025, with the median of this forecast aligning with market consensus [1] Group 1: Financial Performance - The projected growth is primarily driven by significant increases in global paid user numbers for core businesses such as photo, video, and design products, leading to rapid revenue growth [1] - The growth rate of overseas users is outpacing that of the Chinese market, contributing to overall performance [1] - Gross profit is expected to grow faster than operating expenses, resulting in operational leverage effects [1] Group 2: Investment Rating - Jefferies has assigned a "Buy" rating to Meitu, with a target price of HKD 12.5 for its H-shares [1] - The company is anticipated to capitalize on the long-term potential of AI-generated content productivity tools [1]