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On June 10, Meitu's share price witnessed a remarkable surge of nearly 10% during Hong Kong stock market trading, closing at HK$7.39. This marked a new high for the company since 2018. Since the start of the year, Meitu's share price has appreciated by over 150%, pushing its total market capitalization to more than HK$33.7 billion. Recently, Meitu announced a strategic alliance with Alibaba, encompassing areas such as e-commerce platforms, AI technology, and cloud computing. As part of this partnership, Alibaba has invested US$250 million (approximately RMB 1.8 billion) in Meitu. The two entities will collaboratively advance the research and application of AI-driven e-commerce tools and enhance their cooperation in cloud computing services.
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