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Mainland Tech Giant Using Hong Kong to Go Global

Further to its listing on Hong Kong Stock Exchange, Mainland Chinese mobile internet company and smart-hardware maker Meitu plans to use the city as its international headquarters for global expansion.

Being one of the largest technology companies in Mainland China, Meitu’s mission is simple – to beautify everyone in the world. With its photo editing app Meitu and BeautyPlus as well as smartphones optimised for selfies, users can retouch and edit their photos and videos, and share their beautified life to the world.

Mainland Tech Giant Using Hong Kong to Go Global

Established in 2008, the company currently has 480 million monthly active users around the globe, over 90 million of which come from overseas, including Japan, South Korea and the US.

Headquartered in Xiamen, the company was listed in Hong Kong stock market in December 2016, marking the largest technology initial public offering in the last decade.

“Hong Kong is perhaps the only place in the world that allows investors from both Mainland China and overseas to buy our stock directly,” Gary Ngan, CFA, Chief Financial Officer, said, “we hope to rake in the benefits of Shanghai/Shenzhen-Hong Kong Stock Connect to attract more capital, so that every user in the world can be our shareholder.”

According to Ngan, Meitu is now ready for next venture to go global and plans to set up its international headquarters in Hong Kong. “We have expanded far beyond the Chinese community based region, and we see the potential of Meitu to become a real global company,” he remarked.

“We choose to establish our global headquarters here for a few reasons: Hong Kong’s status as a world-class city has attracted talent from all over the world which contributes to a deep and diverse talent pool,” Ngan continued, “its robust legal system and flexible financial infrastructure are also favourable for us to expand our global reach.”

“The graduates from the universities in Hong Kong have become more and more qualified and influential,” he added, “there is so much potential for the city to become a tech hub.”

Meitu currently has around 10 employees in Hong Kong with functions such as advertising sales, marketing and corporate finance. As when the international headquarters is in place, more roles dedicated to global marketing strategy will be added to the team.

Moving forward, the company has its eyes on capturing more users globally and expanding the Meitu community through its various platforms. The company is also exploring its eCommerce capability with automation and artificial intelligence.

Wednesday, November 8, 2017

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Fast Facts

  • Set up in 2008 and headquartered in Xiamen, Mainland China
  • The company went public on the main board of the Hong Kong Stock Exchange in December 2016
  • The company is preparing to set up international headquarters in Hong Kong

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