Meitu, Inc. Announces Strong Business and Financial Performance for H1 2026
Key Highlights and Insights for Investors
Meitu, Inc. (Stock Code: 1357) has released a voluntary business and financial performance update for the six months ended June 30, 2026. The report indicates robust growth across multiple core metrics, which could be significant for the company’s future share value and investor sentiment.
1. Core Operating Metrics
- Monthly Active Users (MAU): As of June 2026, MAU reached approximately 282 million. Notably, Applications for Productivity achieved a record high of 33 million MAU, while Applications for Leisure maintained stability.
- Paying Subscribers: The total number of paying subscribers exceeded 18.44 million, reflecting continued growth. Specifically:
- Productivity Applications subscribers surged by 29.8% year-on-year (YoY) to 2.35 million.
- Leisure Applications subscribers increased by 18.8% YoY to 16.09 million.
- Annual Recurring Revenue (ARR): ARR for AI-driven Productivity Applications was approximately RMB 620 million, a YoY increase of 47.8%. Key contributors:
- Kaipai more than doubled its ARR YoY.
- Vmake tripled its ARR YoY.
- MVLAND, a new product, doubled its ARR within just three months from launch.
- AI Credits Consumption: Paid AI credits usage by users grew over 46% sequentially in both Q1 and Q2 of 2026. The growth rate further strengthened in Q2, underscoring robust user engagement with Meitu’s AI-driven visual creation workflows.
2. Financial Performance Update
- Revenue Growth: For H1 2026, unaudited revenue from Meitu’s core business (photo, video, and design products) increased by 30.9% YoY, reaching approximately RMB 1.8 billion.
- Productivity Applications revenue grew by 40.1% YoY (on a like-for-like basis, after excluding the discontinued stock photo business), accounting for over 18% of total core revenue.
- Leisure Applications revenue climbed by 32.3% YoY, accounting for about 82% of core business revenue. This reflects enhanced monetisation and the success of Meitu’s globalisation strategy.
- Profitability:
- Adjusted net profit attributable to owners is expected to record a YoY increase of 36% to 40% on a non-IFRS basis, driven by core business revenue growth, a rising number of paying subscribers, and increased average revenue per user.
- Growth in international paying subscribers continued to outpace Mainland China, supporting Meitu’s globalisation approach.
- Gross profit growth has exceeded that of operating expenses, resulting in increased operating leverage and amplified profitability.
- Net profit (IFRS basis) is expected to increase by at least 35% YoY after factoring in all non-cash and non-operating items, including share-based compensation and investment fair value changes.
3. Important Information for Shareholders
- The management accounts are preliminary and unaudited. Final interim results may differ and will be published in August 2026.
- The company has exited its stock photo business by end-2025, so YoY growth rates are adjusted to reflect like-for-like comparisons.
- The robust growth in paying subscribers, especially internationally, and strong revenue/profit momentum could be considered price-sensitive and positive for share value.
- Shareholders and potential investors are advised to exercise caution in trading Meitu shares until the formal interim results are released.
4. Board and Management Update
The announcement was authorized by Chairman Wu Zeyuan (Mr. Wu Xinhong). The board consists of executive, non-executive, and independent non-executive directors.
Conclusion
Meitu, Inc. has delivered a strong set of preliminary results for H1 2026, with significant increases in user engagement, paying subscribers, ARR, revenue, and net profit. The strong performance, especially in AI-driven productivity applications and global markets, is likely to be seen positively by investors and could impact the company’s share price.
Disclaimer: This article is based on unaudited management accounts and forward-looking statements from Meitu, Inc. Actual results may differ. Investors are strongly advised to review the official interim results announcement when published and to exercise caution in any investment decisions.
美圖公司2026年上半年業績更新 — 投資者重點詳解
美圖公司（股份代號：1357） 發佈了截至2026年6月30日止六個月的自願性業績及業務最新情況。報告顯示多項核心指標強勁增長，對公司股價及投資者信心或有重大影響。
1. 核心營運指標
- 月活躍用戶（MAU）： 2026年6月，MAU約為2.82億人次，其中生產力應用MAU創新高達3,300萬，休閒應用MAU則基本穩定。
- 付費訂閱用戶： 付費用戶總數超過1,844萬人，持續穩步增長。當中：
- 生產力應用付費用戶按年增長29.8%，至235萬。
- 休閒應用付費用戶按年增長18.8%，至1,609萬。
- 年度經常性收入（ARR）： AI生產力應用ARR約為人民幣6.2億元，按年增長47.8%。重點產品：
- 「開拍」ARR按年增長超過一倍。
- 「Vmake」ARR按年增長超過三倍。
- 新產品「MVLAND」推出僅三個月，ARR已翻倍。
- AI點數消耗： 2026年第一及第二季度，付費AI點數消耗連續兩季按季增長逾46%，第二季增速進一步提升，顯示用戶對AI視覺創作流程高度參與。
2. 財務表現更新
- 收入增長： 2026年上半年，未經審核的照片、影片及設計產品主營業務收入按年增長30.9%，達約人民幣18億元。
- 生產力應用收入按年增長40.1%（已排除已終止的圖庫業務），佔主營業務收入超過18%。
- 休閒應用收入按年增長32.3%，佔主營業務約82%，反映變現能力提升及國際化策略進展順利。
- 盈利表現：
- 歸屬股東的經調整淨利潤預計按年增長36%至40%（非國際會計準則），主要受主營業務收入增長、付費用戶增加及每用戶平均收入上升帶動。
- 國際市場付費用戶增長仍快於中國內地，證明公司全球化策略成效。
- 毛利增速超過營運開支，帶來經營槓桿效應，盈利能力進一步增強。
- 計及所有非現金及非經營項目（如股份支付、公允價值變動等），根據IFRS，歸屬股東淨利潤預計按年增長不少於35%。
3. 股東需知的重要事項
- 管理賬目屬初步及未經審核，最終中期業績將於2026年8月正式公佈，屆時或有差異。
- 公司已於2025年底退出圖庫業務，收入增長率均為可比口徑。
- 付費用戶，特別是國際市場增長強勁，以及收入及盈利大幅提升，或屬價格敏感信息，對股價有正面作用。
- 股東及潛在投資者在中期業績正式公布前，應審慎處理美圖股份買賣。
4. 董事會及管理層資訊
公告由董事會主席吳澤源（吳欣鴻先生）簽發。董事會包括執行董事、非執行董事及獨立非執行董事。
總結
美圖公司2026年上半年初步業績表現強勁，無論用戶、收入、盈利及AI業務均錄得可觀增長，特別是AI生產力應用及海外市場，或將對股份價值構成正面影響。
免責聲明：本文章基於美圖公司未經審核管理賬目及前瞻性聲明，實際業績或有差異。投資者請以公司正式公告為準，並審慎作出投資決定。
