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Meitu Inc. (1357.HK) has announced the successful settlement of the previously agreed-upon US$250 million convertible bonds with Alibaba. In line with the subscription agreement, Meitu has now issued convertible bonds with a principal amount of US$250 million to Alibaba. As per earlier announcements, Alibaba made its investment in Meitu through these convertible bonds, which come with a conversion price set at HK$6 per share. The two companies are set to collaborate closely in key areas, including e-commerce, large - scale AI models, and cloud computing. On December 30, they signed a business cooperation agreement, with detailed implementation plans to follow in due course. Meitu intends to allocate the net proceeds from this bond issuance for general corporate operations and strategic development.
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