Summary by Moomoo AI
Meitu announced its interim report in 2024, showing that as of June 30, 2024, the number of monthly active users of the group's applications was approximately 0.258 billion, a year-on-year increase of 4.3%. The monthly active users of the AI video editing application Wink increased by about 99% year-on-year, becoming the company's third largest application. The net profit attributable to the parent company's equity holders after adjustments was approximately 0.2728 billion yuan, an 80.3% year-on-year increase, reflecting the growth momentum and profitability of the core business. Revenue increased by about 28.6% year-on-year to approximately 1.62 billion yuan. The company continues to show results in AI technology investment, with the AI-driven Meitu Design Studio ranking first in the AI design tool competition in mainland China. The acquisition of Zcool Network Group was successfully completed in the first half of 2024 and launched an online service platform for freelance designers. The company expects that the growth in subscription penetration rate will support revenue growth in the second half of the year.
