Meitu Announces Allotment Results for Hong Kong Public Offering

12.14 2016

Offer Price Set at HK$8.50 Per Share

Trading Expected to Commence on 15 December

Hong Kong, 14 December 2016 - Meitu, Inc. (“Meitu” or the “Company”), a mobile Internet company that has been transforming the way its users create and share beauty, today announced the allotment results for its global offering of its 574,000,000 shares (Hong Kong public offering together with the international offering, the “Global Offering”).

Meitu’s Offer Price has been determined at HK$8.50 per share. A total of 5,758 valid applications have been received pursuant to the Hong Kong Public Offering on White and Yellow Application Forms and through giving electronic application instructions to HKSCC via CCASS and through the White Form eIPO Service under the White Form eIPO for a total of 137,425,000 Hong Kong Offer Shares, [equivalent to approximately 2.39 times of the total number of 57,400,000 Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering].

Subject to the Over-allotment Option, Meitu’s net proceeds from the Global Offering would amount to approximately HK$4,688 million, after deduction of underwriting fees and commissions and estimated expenses in connection with the Global Offering. The Company intends to use approximately 29.0% of the net proceeds to expand its component and raw material sourcing capacity, with a view to producing more smartphones and other smart hardware. Approximately 22.6% will be used to invest in or acquire complementary businesses, and approximately 19.7% for implementing sales and marketing initiatives in both China and overseas markets. Meitu will also use approximately 13.1% of the net proceeds to grow its Internet services business, and approximately 6.6% to strengthen its research and development capabilities.  Approximately 9.0% will be used for general working capital.

 Meitu, Inc. commented, “We are delighted to have investors support our Global Offering. The successful listing on the HKEx offers us an effective capital platform to support our future growth, and to strengthen our leading position in the mobile internet industry. Looking ahead, we will continue to roll out our strategic coverage in platformization, globalization and in building a social ecosystem, to deliver the greatest value to our investors and shareholders.” 

About Meitu, Inc.

Meitu, Inc. (through Xiamen Meitu Networks Technology Co., Ltd. (廈門美圖網科技有限公司)) commenced its current business in October 2008. It is a mobile Internet company with a mission to make the world a more beautiful place, and a vision to build an ecosystem around beauty and make everyone a user of Meitu products. Meitu has created a series of software and hardware products — including Meitu, BeautyCam, Meipai (a video and live streaming community app) and Meitu smartphones — which have been transforming the way users create and share beauty, precipitating the selfie phenomenon in China. Meitu’s portfolio of mobile apps had been activated on over 1.1 billion unique devices as of 31 October 2016 and recorded approximately 456 million MAUs globally in October 2016. Meitu repeatedly ranked among the top eight iOS non-game app developers globally in terms of number of downloads from June 2014 through October 2016, along with global Internet giants, according to App Annie, a globally recognized and independent app analytics company. In China, “Meitu” is not only used as a verb for “enhancing images”, but is also a brand that represents beauty, trendiness and youthfulness. Meitu believes that the desire for beauty crosses both cultural and geographic boundaries. Meitu has extended its reach from China to overseas and had attracted over 430 million overseas users as of 31 October 2016, including more than one million total users from each of 26 overseas countries and regions and in particular, over 10 million total users from each of Brazil, India, Indonesia, Japan, Malaysia, the Philippines, South Korea, Taiwan, Thailand, the United States and Vietnam. It has also launched localised apps and established local operations in New Delhi in India, Sao Paulo in Brazil, Palo Alto in the United States, Singapore and Tokyo in Japan. 


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