Hong Kong Stock Market Update | MEITU Surges Over 4% in Early Trading, Bitcoin Hits Nearly Two-Year High, Company Has Previously Purchased Virtual Currency Multiple Times.

MEITU's stock rose more than 4% in early trading, and as of the time of writing, it has increased by 4.33% to HKD 3.37, with a trading volume of HKD 50.5817 million. On the news front, the U.S. Securities and Exchange Commission (SEC) is expected to vote on the application for a Bitcoin ETF this week. The market believes that the approval of the Bitcoin ETF is imminent, as Bitcoin reaches a 21-month high, with a peak of $47,256. It is reported that MEITU has made multiple purchases of Bitcoin and Ethereum on March 7, 2021, March 17, 2021, and April 8, 2021. The company is expected to turn losses into profits in the first half of 2023, mainly due to the revaluation of cryptocurrencies, which amounted to CNY 186 million. In addition, on January 2nd, MEITU's self-developed AI visual model, MiracleVision, was registered under the "Interim Measures for the Administration of Generative Artificial Intelligence Services," and it will be open to the public. Guotai Junan previously stated that MEITU is a leader in the digital imaging industry, and with the extension of its B2B business from MEITU Xiuxiu and other consumer applications, the company's AI portrait generation has reached the top level in China in terms of technological innovation. The AIGC strategy is expected to open up the B2B paid space, and the initial rating is "Buy".