Core Viewpoint - The company has signed a $250 million convertible bond agreement with Alibaba, which will also involve strategic cooperation in e-commerce, AI technology, and cloud computing [1][2]. Financial Performance - In 2024, the company achieved total revenue of 3.34 billion RMB, representing a year-on-year growth of 23.9%. The adjusted net profit attributable to equity holders was 586 million RMB, up 59.2% year-on-year [1]. - The imaging and design product business generated 2.09 billion RMB in revenue, a 57.1% increase, accounting for 62.4% of total revenue [3]. - The number of paid subscription users reached approximately 12.61 million, a historical high, with a year-on-year growth of about 38.4% [3]. Strategic Cooperation - The partnership with Alibaba will prioritize the promotion of Meitu's AI e-commerce tools on Alibaba's platforms and assist in developing new data-driven tools to enhance marketing and operational efficiency for merchants [2]. - Meitu has committed to purchasing no less than 560 million RMB in cloud services from Alibaba over the next three years [2]. Product Development and User Engagement - The company continues to enhance its AI product features, leading to an increase in paid user penetration rates from 3.7% in 2023 to 4.7% in 2024, a 1.0 percentage point increase [3]. - The monthly active users in productivity scenarios grew by 25.6% year-on-year, reaching 22.19 million [4]. - The Meitu Design Studio has seen subscription users reach 1.13 million, with a revenue of approximately 200 million RMB, doubling year-on-year [4]. Future Outlook - The company is expected to achieve revenues of 4.13 billion RMB, 5.08 billion RMB, and 6.23 billion RMB in 2025, 2026, and 2027, respectively, with net profits of 821 million RMB, 1.07 billion RMB, and 1.40 billion RMB [4].
美图公司(01357.HK)：与阿里达成战略合作 AI助力付费渗透率提升