Meitu Inc.'s financial report for the first half of 2024 shows a total revenue of 1.62 billion yuan, a year-over-year increase of 28.6%, with an adjusted net profit of 270 million yuan, representing an 80.3% growth. The increase in revenue and net profit is mainly attributed to the advancement of generative AI technology, particularly in the application of imaging and design products. Subscription revenue reached 930 million yuan, reflecting a year-over-year growth of 54.5%, accounting for 57.4% of total revenue. As of June 30, the number of paid subscribers exceeded 10.81 million, with a penetration rate of approximately 4.2%. Meitu's Design Studio focuses on e-commerce design.

On August 7th, Meitu's Meitu Cloud Repair launched the newly upgraded 'Meitu Cloud Repair Pro Version', introducing new features such as AI batch coloring and AI batch retouching, aimed at providing a more comprehensive photo editing solution for the commercial photography industry. The AI workflow of Meitu Cloud Repair can help retouchers achieve AI automation from format conversion, retouching to delivery, significantly improving work efficiency.

The Meitu Design Studio Team Edition has officially launched. This version is not only a design tool but also a design and collaboration tool. It aims to help teams enhance their imaging work efficiency, allowing every team member to participate in the design process. Currently, the Team Edition is available on the web, and users can experience it by visiting team.designkit.com.

In the field of video production and image processing, the "de-flicker" technology has always been crucial for enhancing video quality. With the advancement of technology, a new de-flicker algorithm called BlazeBVD has emerged, capable of not only quickly removing flicker from videos but also maintaining the integrity and color authenticity of the video content. BlazeBVD, short for Blaze Blind Video Deflickering, is an automated video de-flicker technology. It can effectively improve the tempora

At the Samsung Mobile China New Product Launch on July 17th, Meitu Inc. and Samsung China announced an enhanced collaboration. Meitu's MiracleVision large model will provide "text-to-image wallpaper" and "doodle-to-image" functions for users of Samsung's Galaxy Z Fold6 and Z Flip6 series phones. These features allow users to generate creative wallpapers that integrate artistic aesthetics by selecting themes, styles, and other keywords, or by using the S Pen to scribble on the panel and transform

Meitu officially launched its brand new AI photo editor - WHEE V2 version. This editor not only integrates various practical functions, but also incorporates AI technology, providing users with a one-stop processing experience from original images to edited pictures. The new version introduces AI drawing and AI image editing features, greatly enriching users' editing options and making the creative process more convenient and efficient. Whether it's partial modifications, image expansion, or AI synthesis and doodling, WHEE V2 can handle it all seamlessly.

Meitu has released an AI video production tool named MOKI, which enables one-click generation of AI video clips through its built-in video generation models and workflows. MOKI focuses on creating four types of video content: online short dramas, story picture books, animated shorts, and music videos, allowing users to drive the creation of scripts, characters, videos, and voiceovers through text, all while maintaining control throughout the generation process.

The third Meitu Image Festival took place on June 12th, themed 'Discussing AI Workflows'. Meitu unveiled 6 products at the event, aiming to initiate a new phase of AI workflows. These products span various fields such as commercial photography, voiceover videos, e-commerce design, design services, game marketing, and video generation, including the following:

The Meitu AI Visual Large Model MiracleVision is officially launched. Users can experience the capabilities of MiracleVision on the MiracleVision official website and Meitu's products. Meitu opens up the model capabilities of MiracleVision to industry clients and partners. MiracleVision provides functionalities such as text-to-image, image-to-image, and model training to support multi-scenario workflows, reducing costs and increasing efficiency.

["On January 2, Meitu's self-developed AI visual large model MiracleVision has been recorded under the 'Interim Measures for the Management of Generative Artificial Intelligence Services' and will be opened to the public.", "MiracleVision is an AI visual large model independently developed by Meitu, which entered internal testing in June 2023 to provide AI model capabilities for Meitu's products.", "MiracleVision has been upgraded to version 4.0 and is widely used in Meitu's flagship services."]

Meitu Cloud Repair has released the Pro version, offering smart retouching API services. The Pro version features a new image processing engine, allowing for real-time previews. The smart retouching API supports multi-platform applications, enabling quick image output. The AI photography capabilities lower the barriers to creation. Meitu Cloud Repair has over a million users and more than 30,000 commercial photography institutions using it.

Meitu Design Studio has launched AI Commercial Shooting, supporting functions like AI model fitting and clothing color changing. AI Commercial Shooting integrates multiple functions of Meitu Design Studio, providing a one-stop solution for e-commerce users. Meitu Design Studio further enhances the integration of e-commerce shooting and design workflow, improving the overall efficiency from product photography to product launch. This represents a landmark innovative service for small and medium-sized e-commerce enterprises.

The WHEE mobile app from Meitu has officially launched, providing one-stop AI visual creation services. Powered by the Miracle Vision 4.0 model, WHEE offers AI art and image generation features. Users can easily use natural language to describe their needs. The WHEE mobile app brings together works from creators in various fields, serving as a source of inspiration for creativity. Additionally, WHEE provides creation guides and model training instructions to assist users.

Recently, AI upscaling has gained significant attention on various social media platforms, with the topic's popularity continuing to rise. Tools like Jianying, Meitu Xiu Xiu, Adobe Photoshop, and Stability AI have been the focus. The AI upscaling features have limitations in imagination and detail depiction. Jianying's intelligent upscaling results are relatively standard, while Meitu Xiu Xiu performs better with landscape photos.

Meitu's self-developed AI visual model MiracleVision has launched version 4.0, introducing two major new capabilities: AI Design and AI Video. AI Design includes four key features: vector graphics, text effects, intelligent layering, and intelligent typography. MiracleVision 4.0 has unveiled a brand new visual model store, allowing users to choose different visual models to create unprecedented effects. The AI Video capabilities comprise four functions: text-to-video, image-to-video, video panning, and video generation.

{Content: The reason for Meitu's sharp profit increase is that its product matrix and business model adjustment directly mirror Adobe's successful model}{Content: Meitu primarily targets 'disseminators' who do not seek professional-level users but place more emphasis on ease of use}{Content: Meitu's AI strategy mainly focuses on utilizing generative AI to enhance existing product performance, rather than being deeply integrated into workflows like Adobe}{Content: Meitu faces internal challenges in keeping up with the changing demands of 'disseminator' type user groups}{Content: Meitu aims to achieve this through AI}

Meitu has launched the AI video tool, Kaipai, which includes a new feature called 'AI Cover'. This feature intelligently generates viral covers based on images and text, helping video creators work more efficiently. It supports both 'Image to Cover' and 'Video to Cover' generation and is officially live for multiple video platforms. Users only need to upload a photo and cover text to generate ten viral cover designs, with support for AI optimization. The AI Cover also offers a feature for AI text refinement, lowering the barrier for creating viral covers.

Meitu Design Studio won the dual-track championship at the 2023 Taobao Tmall Open Ecology AIGC Challenge. The AI product image feature leads the industry in both effectiveness and efficiency, having served over 1.5 million e-commerce users. The AI model fitting feature significantly boosts productivity in the e-commerce sector. With AI technology, designers' work efficiency has increased by 120 times. Meitu's AI product images and AI model fitting features have received widespread recognition and praise from e-commerce users.

Meitu has released its self-developed AI visual large model, MiracleVision 3.0. MiracleVision will be comprehensively applied to image and design products, supporting five major industries. MiracleVision 3.0 captures real and intricate image details, providing an enhanced user experience. MiracleVision is divided into two main features: imaginative thinking and intelligent creation, applied in e-commerce, advertising, gaming, animation, and film, improving workflow efficiency.

Meitu has reached a strategic partnership with China Mobile Cloud to jointly expand cloud scale and value. China Mobile Cloud will be able to use Meitu's AI image processing features. Through this collaboration, more cloud-based image processing functionalities will be provided, jointly promoting the integration and high-quality development of the digital economy in the industrial chain and establishing new digital consumption scenarios in the cloud.