Stock Track | MEITU Soars 5.82% Intraday on Strong AI Revenue Growth and Goldman Sachs Buy Rating

Stock Track
06/02

MEITU's stock surged 5.82% during intraday trading on Tuesday, continuing its recent upward momentum in the market.

The significant price increase appears to be driven by multiple positive factors. According to market reports, Meitu's total app revenue grew 45% year-over-year in April, with overseas revenue surging 42% YoY and Wink's overseas revenue nearly doubling. The company's AI productivity application annual recurring revenue reached approximately RMB 580 million, representing 56.2% YoY growth.

Institutional support has also contributed to the bullish sentiment, with Goldman Sachs maintaining a "Buy" rating on MEITU with a 12-month target price of HKD 14.30, citing AI model integration as a key driver for significantly improving productivity tool ARPU. Additionally, technical factors have turned favorable as MSCI rebalancing-related passive selling pressure has fully dissipated following the recent index adjustment.

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