Meitu, the Hong Kong-listed photo and design app developer, reported strong first-half earnings Monday and said it now sees itself as an “AI company” as artificial intelligence increasingly drives its business. Net profit rose 71% year over year to RMB 470 million ($65 million) on revenue of RMB 1.8 billion ($251 million), up 12.3%. The company said revenue was lifted by its core imaging and design products, which contributed more than 74% of total revenue, as well as by subscription growth. Paying subscribers jumped 42% to 15.4 million, generating RMB 15.4 million ($2.14 million). Founder and CEO Wu Xinhong said AI features now permeate 90% of Meitu’s products. The company launched RoboNeo, an AI agent for creative imaging, in July. Despite being positioned as a productivity tool, it went viral on social media and quickly surpassed 1 million monthly active users. Overseas growth was another highlight: global monthly active users reached 280 million, up 8.5% year over year, with users outside mainland China growing 15.3% to account for 35% of the total. [Meitu]
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