Stock Track | Meitu Surges as Share Awards Boost Investor Sentiment

Stock Track2024-10-02

Shares of Meitu Inc. (HKG:1357), a leading provider of mobile photo editing and imaging apps, soared 5.86% on Wednesday after the company announced equity incentive grants for its top executives and employees.

The Hong Kong-listed company said it had awarded 12.5 million shares to CEO Wu Zeyuan and granted 20.2 million shares to other employees under its stock incentive plan. The move aims to better align interests and incentivize key personnel as Meitu seeks to bolster its core mobile imaging business and expand into new AI-driven product categories.

Investors cheered the share grants, viewing them as a positive sign of Meitu's commitment to retaining talent and driving growth initiatives. After facing headwinds from intensifying competition and the pandemic's impact on mobile usage, Meitu has refocused its efforts on AI and computer vision technologies to power its imaging solutions and diversify revenue streams.

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