HK Stock Market Move | MEITU (01357) rose more than 6%, with core APP income in September reaching a new high year-on-year. Overseas holidays are expected to boost sales.

MEITU (01357) rose more than 6%, as of press time, up 6.06% to HK$8.75, with a turnover of HK$1.5 billion. On the news front, the research report from China Securities Co., Ltd. pointed out that according to data from DotDot, the combined revenue of MeituPic, BeautyCam, and Wink in September increased by 38% year-on-year and 1% month-on-month. Overseas revenue achieved high growth, with monthly revenue reaching a new high, with a year-on-year increase of 56% and a month-on-month increase of 9%; domestic revenue increased by 29% year-on-year. According to DotDot data, the global combined revenue of MeituPic, BeautyCam, and Wink in the third quarter increased by 39% year-on-year and 2% month-on-month. Overseas revenue increased by 45% year-on-year and 14% month-on-month; domestic revenue increased by 37% year-on-year. Furthermore, China Securities Co., Ltd. continued to point out that based on the Meitu official account, the company would launch AI entertainment features with a holiday atmosphere in its apps around holidays in previous years, such as the "Halloween Ghost Guide" in BeautyCam in 2019 and the "Christmas Dress-up Week" developed using AR technology in 2020. With globalization becoming an important strategy for the company, coupled with the intensive holidays in the fourth quarter, such as Halloween at the end of October, Thanksgiving at the end of November, Christmas at the end of December, and New Year's Day, the company is expected to launch AI features with a holiday atmosphere to drive traffic growth.