MEITU (01357) rose more than 8% again. As of the time of writing, the stock was up 6.99%, trading at HK$5.05, with a turnover of HK$213 million. The catalyst was the release of MEITU's first-quarter 2026 operational data. The figures revealed that its paying subscriber count increased to 17.9 million, setting another historical record. Revenue from imaging and design products, primarily driven by paid subscriptions, reached 852 million yuan, a year-on-year increase of 34.3%. The company also disclosed its AI productivity application Annual Recurring Revenue (ARR) metric for the first time. As of March 2026, the ARR for AI productivity applications was approximately 580 million yuan, up 56.2% year-on-year. According to analysis, the ongoing refinement and maturation of Agent workflows in 2026 are expected to be more user-friendly for small and medium-sized merchants, where role distinctions are often less clear. The significant increase in Token consumption driven by Agents is anticipated to gradually translate into higher Average Revenue Per User (ARPU), creating a dual growth engine of paid subscriptions and ARPPU that jointly supports steady revenue growth in productivity scenarios.