MEITU (01357.HK) Hikes 8% as it Expects Interim Adj. NP to Surge 80%+

　　MEITU (01357.HK) +0.250 (+11.062%) Short selling $1.57M; Ratio 3.991% opened up 7.52% today, peaking at $2.49. It trades now at $2.45, soaring 8.41%, with a volume of 24.131 million shares and a turnover of $58.7588 million.

　　MEITU projected its adjusted net profit for the six months ended 30 June 2024 to increase by no less than 80% YoY. if certain non-cash and non-operating items are taken into account, the net profit of the company for the period is expected to increase by no less than 30% YoY.

　　Related NewsMEITU Projects 1H24 Adj. NP to Leap 80% Min.

　　MEITU noted that revenue from its photo, video and design products business, which is primarily generated through a membership subscription model, continued to surge rapidly. Due to the high gross profit margin of this business, the rapid growth of this business has driven the operating leverage effect, resulting in higher profit growth.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-24 16:25.)

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