On June 24, Meitu Inc fell 5.21% in regular trading, trading at HKD 3.82/share, with turnover of HKD 166 million, extending a multi-day correction.

On the news front, the decline continues a post-event selloff following Meitu's Image Festival on June 18, where the company launched 8 AI products. Market reaction remained muted as investors perceived a lack of breakthrough innovations. Additionally, market sources indicated Morgan Stanley sold approximately 10 million shares in a late-session block trade, intensifying institutional selling pressure. The company also released supplementary disclosures regarding a prior incident in which an employee accidentally leaked financial information on social media, leading to a brief trading halt in March.

Notably, the company has conducted consecutive buybacks on June 22 and 23, repurchasing a combined 9.63 million shares totaling HKD 39.75 million, yet the stock declined approximately 8% during that period. Year-to-date, Meitu has executed 14 buybacks totaling HKD 214 million. Analysts at Everbright Securities and Jefferies maintain Buy ratings with target prices significantly above current levels.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)