Changes in Hong Kong stocks | Meitu (01357) rose more than 6%, Q3 paid subscribers, a net increase of about 1.39 million in a single quarter, and domestic consumer payment conversions still have room to rise

The Zhitong Finance App learned that Meitu (01357) rose more than 6%. As of press release, it had risen 6.39% to HK$4.33, with a turnover of HK$383 million.

According to the news, recently, Meitu issued a 2026Q3 business status announcement. Guohai Securities indicated that as of September 2026, the number of Meitu paid subscribers reached 1.83 million, a net increase of about 1.39 million in a single quarter. Among them, paid subscribers from the international market continued to grow faster than the mainland China market. The number of paid subscribers from productivity apps increased 18.3% year over year to 2.39 million in 2026Q3. As of September 2026, ARR for AI productivity applications was 655 million yuan, an increase of 40.1% year on year. Among them, ARR from the start of the auction and Vmake Labs all increased by more than 100% year on year.

Guohai Securities believes that Meitu, as one of the companies with a high degree of implementation of AI applications in China, has long been optimistic that the company's AI-enabled life and productivity scenarios will blossom, as well as additional commercial space brought about by subsequent agents that rely on computing power point consumption payments. Xiaomo said that Meitu's consumer-side payment conversion still has room to rise in China, and there is also a long runway overseas. In the third quarter, paid subscribers recorded the biggest quarterly increase in a year; although AI has token costs, revenue growth is enough to cover it. On the B-side, management sees each AI product as a cost to be earned back and has closed about half of the innovation studios.