[ET Net News Agency, 6 August 2019] Jefferies Research initiated coverage on Meitu,
Inc. (01357) with a target price of HK$2.4 and a "hold" rating.
The research house said Meitu is in the process of establishing a new community
integrating beauty and social media in order to attract and retain users amid intense
competition in live streaming and short video markets in China.
Post the discontinuation of the smartphone business in 2019, Jefferies expects
advertising and live streaming to be the two key revenue streams, and full-year
profitability to occur in 2020. More time is needed for the success of the transition
due to macro-headwinds and competition.
Jefferies estimated total revenue of RMB1bn in 2019 post the discontinuation of the
smartphone business, and a non-GAAP net loss of (RMB312m), driven by advertising (80% of
revenue) and value-added services including live streaming (10% of total) and others (10%
of total). (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01357 MEITU
Nominal 
2.980 -0.250 (-7.740%) Research Report
06/08/2019 15:12
{I-bank focus}Jefferies starts Meitu, Inc. (01357) at HK$2.4
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