摩根士丹利:美图公司(1357.HK)-港股公司研究:AI设计工具RoboNeo开启电商赋能新阶段;目标价上调至14.4港元-250721(英文版)(20页).pdf

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摩根士丹利:美图公司(1357.HK)-港股公司研究:AI设计工具RoboNeo开启电商赋能新阶段;目标价上调至14.4港元-250721(英文版)(20页).pdf

1、M IdeaRoboNeo launched:This month,Meitu launched its AI design agent,called RoboNeo,available on both websites and mobile apps.It is currently free to all users and supports English and Chinese.The agent uses AI foundation models from various providers,allowing users to create images/videos with sim

2、ple prompts.According to management,the primary purpose for RoboNeo as a standalone product is to test the waters and gather initial user feedback.The plan is for it to be integrated later into Meitus other applications,including Meitu Xiuxiu and Meitu DesignKit,with specific adjustments tailored to

3、 scenarios.Meitu goes deeper into e-commerce design:Although Meitu DesignKit provides AI-based e-commerce product pictures and marketing materials,which still require online shop operators to have their own design ideas,RoboNeo enables a beginner to quickly develop conceptual designs from scratch fo

4、r product pictures,posters,shop logos,slogans,product derivatives,websites,and even offline shop decorations.The design agents value lies in reducing e-commerce costs on real-person designers,which is likely to further improve the ARPPU of Meitus productivity applications in the future.How Meitu can

5、 differentiate its design agent?Many compare RoboNeo to the worlds first design agent,Lovart,launched in May this year by CapCuts former management.We see Meitus rich application portfolio and practical editing capabilities integrated with the AI agent as a unique edge,covering the full life-cycle u

6、ser workflow more than standalone chat-based design agents.We believe Alibaba also plays an important role in backing Meitus ambition in e-commerce design with its deep understanding,global platform,and ample data support.Meitus design agent should not only save design costs for users,but could also

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