Meitu's Profit Jumps in H1 as Revenue Grows 29%

MT Newswires Live08-29

Meitu's (HKG:1357) attributable profit for the six months ended June 30 rose to 303.4 million yuan from 227.6 million yuan a year prior.

Earnings per share climbed to 0.06 yuan from 0.05 yuan a year earlier, according to a Wednesday filing with the Hong Kong Exchange.

The Chinese photo editing app's revenue increased 29% to 1.62 billion yuan from 1.26 billion yuan in the year-ago period.

Meitu said product upgrades drove higher revenue through GenAI technology, encouraging user payments. As a result, its income from subscription-based photo, video, and design products grew.

Shares of the Chinese technology company closed over 3% lower on Thursday.

Price (HKD): $2.27, Change: $-0.080, Percent Change: -3.40%

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