On December 31, Meitu Inc. (1357.HK) announced that all conditions precedent to the convertible bond agreement with Alibaba had been fulfilled, and the transaction was completed on December 31, 2025. Following the completion, Meitu issued US$250 million in convertible bonds to the subscriber in accordance with the terms of the subscription agreement. The net proceeds are to be used for general business purposes.

In an announcement scheduled for May 20 of this year, Meitu will unveil the signing of a US$250 million convertible bond agreement with Alibaba. The two parties will pursue strategic cooperation in e-commerce, large models, cloud computing, and other areas, while exploring differentiated innovation projects to create unique experiences for users of their respective platforms.

According to this announcement, on December 30, Meitu also signed a business cooperation agreement with Alibaba and will further implement specific arrangements through separate agreements.