(Yicai Global) June 20 -- Meitu’s stock price surged after the Chinese photo-editing app operator released a set of new artificial intelligence-driven products.

Meitu [HKG: 1357] was trading up 8.4 percent at HKD3.10 (40 US cents) as of 1.10 p.m. today, after closing up 21.3 percent yesterday.

The Xiamen-based company yesterday unveiled seven new products, including AI visual creation tools, AI video editing tools, and AI digital human generation tools that creators can use for commercial photography and professional video editing, Yicai Global learned at a public event of the company. The products will begin internal testing next month.

In the past, Meitu served users in life scenarios, but in the AI era, it will provide services for more productivity scenarios, said Wu Xinhong, founder, chairman, and chief executive officer of Meitu.

Last year, Meitu achieved revenue of CNY2.1 billion (USD292.7 million) and net profit of CNY111 million (USD15.5 million), up 25.2 percent and 29.9 percent, respectively, from the previous year, according to the firm’s latest annual report.

Revenue from Meitu’s VIP subscription business soared 57.4 percent to CNY782 million last year from 2021, boosted by the introduction of AI generated content technology. The company’s VIP member base jumped to 7.2 million on June 18 from 4.5 million at the end of February last year.

Revenue from software-as-a-service and related businesses skyrocketed nearly 12-fold to CNY463 million in 2022 from the year before.

Editor: Futura Costaglione