On March 18, 2025, Meitu Inc. (1357.HK) released its 2024 annual results: a total revenue of 3.34 billion (CNY, same below) , up 23.9% year-over-year. The adjusted net profit attributable to owners of the company was 586 million, a year-over-year increase of 59.2%. Since 2019, Meitu Inc. has achieved positive net profit growth for six consecutive years.

Thanks to deep AI integration continuously elevating the effectiveness of its imaging and design products, Meitu Inc.'s high-margin subscription revenue surged, propelling its net profit growth and driving overall revenue higher.

The total revenue of 3.34 billion comprises the following: 2.09 billion from the imaging and design products segment, up 57.1% year-over-year; 850 million from advertising, up 12.5% year-over-year; 380 million from the beauty solutions; and 17.1 million from other segments.

Meitu Inc. emphasizes that the net profit of 586 million excludes the impact of non-operating items and excludes a one-time gain from the sale of cryptocurrencies in December 2024.

AI-driven advancements propel imaging and design product revenue past 2 billion

In 2024, Meitu Inc.'s imaging and design products segment posted full-year revenue of 2.09 billion, marking a 57.1% year-over-year increase. This segment remains the company's largest revenue driver, accounting for 62.4% of total revenue.

As an AI-driven tech firm, Meitu continues to build products that deliver outstanding results—the key to the rapid growth of its imaging and design products segment. In 2024, the Meitu app and BeautyCam ranked first in terms of user scale in China's photo beautification and camera categories for nine consecutive years. Wink's global monthly active user base exceeded 30 million, becoming the third largest app in the Meitu product matrix after the Meitu app and BeautyCam.

Thanks to its strong performance, the number of paid subscribers grew rapidly. As of December 31, 2024, the number of subscribers reached a record high of approximately 12.61 million, marking a year-over-year increase of approximately 38.4%. The subscription rate is approximately 4.7%.

Speeding up globalization with 21.7% growth in monthly active users outside mainland China

Through product innovation and localized operations, Meitu Inc. is accelerating one of its core strategies—globalization.

As of December 31, 2024, Meitu Inc. had 266 million monthly active users globally, an increase of approximately 6.7% year-over-year. Monthly active users in countries and regions outside mainland China was 94.51 million, an increase of 21.7% year-over-year, amounting to 35.6% of overall MAU.

In April 2024, the feature "AI Art" helped Wink top the App Store overall chart in Kenya. In November 2024, the "AI Hairstyle" feature propelled the overseas version of Meitu to the top of Indonesia's App Store rankings. In February 2025, driven by its "AI Wardrobe" feature, the overseas version of BeautyCam claimed the top spot in the App Store rankings across 12 countries and regions, including Singapore, Thailand, and Vietnam, pushing its global monthly active user base past 72 million.

Additionally, to capitalize on global opportunities in the productivity tools market, Meitu Inc. has introduced commercial photography design products and video podcasting products for markets outside mainland China. The company has also established localization teams on the US West Coast and in Sydney.

Creating the third growth curve with productivity offerings like DesignKit and Kaipai

After advertising and lifestyle applications, Meitu Inc. targets productivity tools as its third source of growth. As of December 31, 2024, Meitu Inc.'s productivity monthly active user base grew 25.6% year-over-year to 22.19 million, focusing on commercial photography, commercial design, and professional video editing.

DesignKit, the company's online design solution, has reached 1.13 million subscribers. The revenue from this product alone in 2024 was approximately 200 million, doubling year-over-year. Optimized for AI-powered commercial photography in vertical industries like furniture, accessories, and digital home appliances, DesignKit continues to introduce innovative functions such as "AI Clothes Colors," "AI Wrinkle Removal," and "AI Shoes," helping users reduce costs and improve efficiency.

Kaipai, Meitu's video podcasting tool, has surpassed 1 million monthly active users. Amassing the largest user base in China's video podcasting tools category just one year after launch, Kaipai is also actively implementing its "AI Aid for Farmers Program" and the "University Students Self-media Entrepreneurship Program," helping more groups engage in AI-assisted content creation.

Strengthening engineering capabilities and scaling up R&D investment to 910 million

To further enhance its competitiveness in imaging, Meitu Inc. invested 910 million in research and development in 2024, a year-over-year increase of approximately 43.3%.

As its technology hub, Meitu Image Research Institute (MT Lab) has published over 50 academic papers in top international conferences and journals such as CVPR, ECCV, ICCV, AAAI, ACM MM, TPAMI, NIPS, etc., and has won several international AI competitions.

Meitu's MiracleVision large model was registered under the "Interim Measures for the Management of Generative Artificial Intelligence Services" in January 2024. With constant enhancement to its image and video generation capabilities, MiracleVision is helping to improve workflow efficiency across five key industries: advertising, e-commerce, gaming, animation, and film and television. The company is simultaneously active in deploying other excellent models and leveraging their capabilities to complement MiracleVision, enhancing performance and boosting revenue.

Gary Ngan, Chief Financial Officer and Corporate Secretary of Meitu Inc., said, "Driven by AI technology, our investment in the imaging and design products has yielded exciting returns. Not only are we seeing rapid growth in the number of paid subscriptions worldwide, but the size of our monthly active user base continues to expand. The optimization of our revenue structure has led to a sustained increase in gross profit margin, which in turn has driven net profit to a record high. Meitu will continue to build world-class products with AI, satisfy the needs of our lifestyle and productivity users, and strive for greater performance results. "