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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Meitu, Inc.    1357   KYG5966D1051

MEITU, INC.

(1357)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 12/04
1.48 HKD   -0.67%
09/21MEITU : launches brand new AR creation tool to enrich the Meitu content ecosystem
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09/01Hong Kong shares close higher on strong China manufacturing data
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08/27MEITU : Announces 2020 Interim Results
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SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

China selfie app firm Meitu forays into skincare to counter drop in users

04/17/2019 | 05:36am EST
A smartphone transmits a live stream of the news conference of Meitu Inc in Hong Kong

SHANGHAI (Reuters) - Meitu Inc, the Chinese firm best known for its selfie image-enhancing app, said on Wednesday it is venturing into the offline skincare market as it attempts to offset the impact of dwindling app users and a money-losing smartphone business.

Meitu, which listed in late 2016 in what was then Hong Kong's largest tech IPO in a decade, has since suffered losses and its share price has more than halved, as China's smartphone market has run out of steam, shrinking nearly 16 percent in 2018.

The firm announced a deal in November to outsource manufacturing of the smartphone business to Xiaomi Corp and receive brand and tech licenses in exchange.

Meitu said on Wednesday it will launch a face-cleansing brush that can automatically identify the best pulsing setting for a user by detecting his or her individual skin condition.

The company's beauty-centric camera apps, which exploded in popularity in China around 2015 thanks to strong demand from female users, have recently endured a steep decline in usage.

In its earnings report covering the six-month period to end-December, Meitu said monthly active users across its suite of apps decreased 19.9 percent from a year earlier.

Its smartphone division, meanwhile, made up most of the company's sales over the same period, but high costs brought the company to a loss overall.

Slowing smartphone sales and a softening economy have placed pressure on domestic smartphone makers, who are increasingly raising prices in hopes of boosting margins.

Shares in Meitu closed up 4.6 percent at HK$3.45 on Wednesday, well below its $HK8.5 IPO price.

(Reporting by Josh Horwitz; Editing by Miyoung Kim and Muralikumar Anantharaman)


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
BEST INC. -2.88% 2.77 Delayed Quote.-48.74%
LINE CORPORATION 0.19% 5380 End-of-day quote.0.56%
MEITU, INC. -0.67% 1.48 End-of-day quote.-9.76%
XIAOMI CORPORATION 0.20% 25.35 End-of-day quote.135.16%
All news about MEITU, INC.
09/21MEITU : launches brand new AR creation tool to enrich the Meitu content ecosyste..
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09/01Hong Kong shares close higher on strong China manufacturing data
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08/27MEITU : Announces 2020 Interim Results
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2019SUPPLEMENTAL ANNOUNCEMENT - DISCLOSE : Acquisition of approximately 57.09% effec..
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2019China selfie app firm Meitu forays into skincare to counter drop in users
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More news
Financials
Sales 2020 1 428 M 219 M 219 M
Net income 2020 -22,1 M -3,38 M -3,38 M
Net Debt 2020 - - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 6 384 M 824 M 978 M
Capi. / Sales 2020 4,47x
Capi. / Sales 2021 2,66x
Nbr of Employees 1 558
Free-Float 48,2%
Chart MEITU, INC.
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Technical analysis trends MEITU, INC.
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Average target price 1,77 CNY
Last Close Price 1,48 CNY
Spread / Highest target 19,4%
Spread / Average Target 19,4%
Spread / Lowest Target 19,4%
EPS Revisions
Managers
NameTitle
Xin Hong Wu Chief Executive Officer & Executive Director
Wen Sheng Cai Chairman
Xiujuan Wang Chief Operating Officer
King Leung Ngan Chief Financial Officer & Secretary
Yongli Ruan Senior Vice President of Technology
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