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<Research>UBS Keeps Buy on MEITU but Cuts TP to HKD9.4; New Product Incubation Takes Time
Recommend 4 Positive 9 Negative 7 |
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MEITU (01357.HK)'s 2025 revenue and adjusted net profit increased by 28.8% and 64.7% YoY to RMB3.859 billion and RMB965 million, respectively, roughly in line with the profit alert and market expectations, according to a UBS research report. The company also reported a total of 276 million monthly active users (MAUs), below the market expectation of 288 million and the 280 million recorded for 1H25, primarily due to a high base effect from the popularity of several leisure features in 1H25. UBS has lowered its 2027-28 net profit forecasts for MEITU by 0-3%, as the time required for new product incubation has led to a drop in the CAGR forecast for productivity business revenue. MEITU's target price has decreased from HKD10.7 to HKD9.4, but its rating remains Buy. AAStocks Financial News |
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