Hong Kong Stocks Update: MEITU (01357) Surges Over 6% as September Core App Revenues Hit Record Highs, Boosted by Upcoming Holiday Season

Stock News
Oct 27

MEITU (01357) has seen its shares rise over 6%, currently up 6.06% at HKD 8.75, with trading volume reaching HKD 150 million. According to a research report from CITIC Securities, data from Dandan shows that the combined revenue from Meitu Xiu Xiu, Beauty Camera, and Wink increased by 38% year-on-year and 1% quarter-on-quarter in September. Notably, overseas revenue experienced significant growth, reaching record monthly highs with a 56% increase year-on-year and a 9% rise quarter-on-quarter, while domestic revenue grew by 29% year-on-year. Additionally, Dandan's figures indicate that for the third quarter, the total revenue from Meitu Xiu Xiu, Beauty Camera, and Wink increased by 39% year-on-year and 2% quarter-on-quarter, with overseas revenue rising 45% year-on-year and 14% quarter-on-quarter, while domestic revenue increased by 37% year-on-year. Furthermore, CITIC Securities noted that historically, the company has launched holiday-themed AI entertainment features within its apps around festive periods, such as the "Halloween Monster Guide" in 2019 and the "Christmas Try-On Week" developed using AR technology in 2020. With globalization becoming a key strategic focus for the company and the approaching holiday season filled with significant occasions like Halloween at the end of October, Thanksgiving at the end of November, and Christmas and New Year's at the end of December, MEITU is expected to introduce AI features that resonate with the festive spirit, further driving traffic growth.

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