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Meitu ( (HK:1357) ) has issued an update.
Meitu, Inc. has announced a significant year-over-year growth in its adjusted net profit for 2024, driven by strong revenue from its core AI-powered photo, video, and design products. The company has achieved high gross profit margins and an effective globalization strategy, with revenue growth in foreign markets surpassing that in mainland China. Additionally, positive impacts from non-operating items, including gains from cryptocurrency disposals, have contributed to an expected increase of 103% to 116% in net profit according to International Financial Reporting Standards. However, actual results may vary as the management accounts have not been audited.
More about Meitu
Meitu, Inc. is a company incorporated in the Cayman Islands, operating primarily in Hong Kong. It specializes in photo, video, and design products enhanced with Artificial Intelligence features. The company is focused on expanding its market presence beyond mainland China, emphasizing a globalization strategy.
YTD Price Performance: 53.42%
Average Trading Volume: 5,086
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.66B
See more insights into 1357 stock on TipRanks’ Stock Analysis page.