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BUZZ-HK-listed Meitu jumps on robust earnings outlook

Reuters
Feb 10, 2025
BUZZ-HK-listed Meitu jumps on robust earnings outlook

** Shares of Meitu Inc 1357.HK, a Chinese online advertising and internet value-added services provider, jump 10.9% to HK$4.80

** Stock on track for the biggest one-day pct gains since January 28, if the current trend holds

** Stock on course to snap three straight sessions of fall

** Meitu expects its 2024 net profit to rise 52%-60% y/y on non-International Financial Reporting Standards basis, driven by revenue growth in core businesses of photo, video, and design products which are powered by Artificial Intelligence features

** Co sees 2024 net profit to increase by 103%-116% y/y according to International Financial Reporting Standards

** Hang Seng Composite Index, which tracks IT firms .HSCIIT, rises 1.7%, Hang Seng Tech Index .HSTECH climbs 1.8% and Hang Seng Index .HSI adds 1.4%

** Meitu stock fell 17.5% last year

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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