On the evening of January 21st, Meitu Inc. issued an announcement stating that its adjusted net profit for the fiscal year ending on December 31, 2023, according to non-international financial reporting standards, was expected to be between 330 million yuan ($45.86 million) and 370 million yuan ($51.42 million), representing a year-on-year growth of approximately 200% to 230%.
The announcement indicated that Meitu Inc. experienced significant growth in its performance in 2023, with the imaging and design products business contributing the most. This growth was mainly attributed to the application of generative artificial intelligence technology, which greatly increased users’ willingness to pay for imaging products. As a result of the anticipated increase in net profit for 2023, Meitu Inc.’s stock price strengthened today, surging by over 7% at one point during trading. As of the time of writing, it reached a peak increase of 7.04%, closing at HKD 289.
Public information shows that Meitu Inc. provides AI skincare solutions to global skincare and beauty brands through Meitu Yifu. It also offers cosmetic ERP and supply chain management SaaS solutions to over 10,000 cosmetic stores through MeideDe, supporting the sustainable development of the beauty industry.
It is worth noting that Beijing Moyan Customized Biotechnology Co., Ltd. (referred to as “Moyan Customized”), which previously established the first personalized cosmetics service experience center and the first personalized cosmetics service artificial intelligence digital system in China, relies on Meitu Inc.’s facial data, and Meitu Inc. holds a 60% stake in Moyan Customized.
