Furui: Maintains "buy" rating on Meitu Inc with a target price of 7 Hong Kong dollars.

Furui released a research report stating that it maintains a "buy" rating for Meitu Company with a target price of 7 Hong Kong dollars. The company exhibited the effectiveness of its focus strategy at a multimedia festival, where each product is targeted at specific scenarios and shifted from a single agent to an agent team model. Furui pointed out that Meitu Company released a large visual model, MiracleVision V6, which contributed 96.3% of API calls in the first 5 months. The company emphasized four transformations in its business development: from applications to agents, from subscriptions to token consumption, an artificial intelligence innovation team, and from providing features to providing results. Furui mentioned that Meitu Company has 280 million monthly active users, and ZCOOL has 18 million designers, laying the foundation for the transition from providing features to providing results. The company's long history in photos, videos, and design, as well as its innovative production in vertical scenarios, are very important. The firm expects Meitu Company to capture the long-term potential of artificial intelligence content production tools.