Summary by Futu AI
Meitu announced its interim report in 2024, showing that as of June 30, 2024, the group's monthly active users for its applications were 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 approximately 99% year-on-year, becoming the company's third largest application. The net profit attributable to equity holders of the parent company 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 approximately 28.6% year-on-year to approximately 1.62 billion yuan. The company continues to show effectiveness in AI technology investment, with its AI-driven Meitu Design Studio ranking first in the AI design tool race in mainland China. The acquisition of Zcool Network Group Company was successfully completed in the first half of 2024, and an online service platform for freelance designers was launched. The company expects subscription penetration rate growth to support revenue growth in the second half of the year.