Stock Track | MEITU Soars 6.06% Intraday on Alibaba Partnership and AI Innovation Boost

Stock Track01-09

MEITU (01357) surged 6.06% during the intraday session on Friday, driven by positive investor sentiment following its strategic partnership with Alibaba and internal AI innovation initiatives.

The company recently issued USD 250 million in convertible bonds to Alibaba, which, if fully converted, would make Alibaba its third-largest shareholder with a 6.82% stake. Morgan Stanley highlighted the deal as a positive development, anticipating deeper collaboration, particularly in e-commerce design. Additionally, MEITU's CEO Wu Xinhong revealed plans to foster AI innovation through internal startup-style studios, further energizing market confidence.

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