Hong Kong Stock Market News | MEITU surges over 6% in the afternoon, AI applications set to explode, Bitcoin spot ETF approved for listing.
MEITU's stock rose more than 6% in the afternoon, with a trading volume of HKD 168 million. OpenAI launched the GPT Store, and AI applications are expected to have a major breakthrough. GTJA believes that MEITU is a leader in the digital imaging industry, and its technological innovation has reached the top level in China. The U.S. Securities and Exchange Commission has approved the listing and trading of spot Bitcoin ETFs in an expedited manner, authorizing 11 ETFs to begin trading on Thursday.
Zhitong App has learned that MEITU (01357) rose more than 6% in the afternoon, and as of the time of publication, it has risen 4.83% to HKD 3.47, with a turnover of HKD 168 million.
In terms of news, OpenAI has officially launched the GPT Store. CGWS predicts that AI applications will experience a major outbreak. In the short term, based on the tool attributes of ChatGPT, it is expected that there will be more tool-oriented GPTs used for data analysis and solving specific problems, and there is optimism for AI+ e-commerce/education. However, in the medium and long term, there is still optimism for AI companion products with rigid demand and unlimited ARPU value, and there is optimism for AI in gaming/film and other fields.
Guotai Junan stated that MEITU is a leader in the digital imaging industry, and it is extending from C-end applications such as Meitu Xiuxiu to B-end business. In terms of technological innovation, the company's AI portrait generation effect has reached the top level in China. The AIGC strategy is expected to open up the B-end payment space.
In addition, the U.S. Securities and Exchange Commission (SEC) announced that it has approved the listing and trading of spot Bitcoin ETFs through an expedited process, and has authorized 11 ETFs to start trading on Thursday local time. MEITU has attracted market attention due to its high-profile purchases of Bitcoin and Ethereum. As of June 30, 2023, based on the then market prices, the fair values of the company's holdings of Ether and Bitcoin were approximately USD 57.41 million and USD 28.28 million, respectively.