1. What are MEITU's full-year performance expectations? As of November 21, 2025, according to quarterly performance forecast data: - The company's full-year consensus revenue is projected at RMB 3.74~4.30 billion, a year-on-year increase of 12.1%~28.7%. - Full-year consensus net profit is estimated at RMB 610~994 million, ranging from a decline of 24.2% to growth of 23.5% YoY. - Adjusted net profit is forecasted at RMB 868~960 million, up 48.0%~63.8% YoY. Investors should monitor whether actual results exceed expectations upon future earnings disclosures.
2. How do analysts view MEITU? Oriental Securities highlights: - MEITU's AI features and creative innovations saw frequent iterations in Q4, with its aesthetic appeal gaining global traction. The firm believes MEITU, as a vertical player, will continue benefiting from advancements in foundational AI models, enhancing both R&D efficiency and output quality—contrary to market concerns about general AI models replacing niche applications. - MEITU's growth in lifestyle scenarios and global influence is promising, with brand effects further aiding its productivity business expansion.
**Lifestyle Scenario**: - MEITU introduced 51 new features by October 2025, nearing the 55 launched in 2024, with AI-driven functions (excluding basic tools like collages) accounting for 96% (vs. 78% in 2024). - Global adoption surged, e.g., topping iOS download charts in 14 European countries with "AI Group Photos" and leading app stores in 29 regions (including Germany and South Korea) with "AI Snowscapes."
**Productivity Scenario**: - Collaboration with Alibaba via MEITU Design Studio’s integration into Qianniu backend offers AI-generated visual services for Taobao/Tmall merchants, potentially enhancing e-commerce insights and product capabilities.
**Valuation & Risks**: - Adjusted net profit for 2025–2027 is projected at RMB 943 million, 1.23 billion, and 1.59 billion, respectively. - A 45x 2026 PE ratio implies a RMB 55.5 billion market cap (~HKD 60.9 billion at 0.911 exchange rate).
*Disclaimer: Forecasts are for reference only. Market risks include volatility, performance, and policy changes. Investors should assess risks independently.*
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