＜Research＞CICC Trims MEITU (01357.HK) TP to $3.2 on Continuous Advancement in Productivity, Globalization

　　CICC released a research report saying that MEITU (01357.HK) +0.110 (+4.453%) Short selling $4.37M; Ratio 9.238% earlier issued a profit warning, expecting interim adjusted net profit to grow by no less than 80% YoY. IFRS net profit is also expected to rise by no less than 30%.

　　Taking into account the slightly better-than-expected incline in ARPPU of the Group's subscription business, CICC raised its 2024/ 2025 revenue forecasts by 3% to RMB3.71 billion/ RMB4.7 billion each, and believed that the Company's subscription business continued to advance its productivity and globalization.

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　　Therefore, CICC kept rating at Outperform. However, in view of the recent downside of the valuation pivot of the sector, CICC trimmed its target price by 26% to $3.2.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-29 12:25.)

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