Meitu: The financial report for the first half of the year is expected to turn a profit, mainly due to the rise in cryptocurrency prices

ChainCatcher news, Meitu announced that it expects to turn a profit in the first half of the year, with a net profit between 220 million and 265 million yuan. The main reason for the expected turnaround is attributed to the market price of purchased cryptocurrencies being higher than the market price on December 31, 2022, resulting in a reversal of impairment losses on purchased cryptocurrencies of approximately 185 million yuan. Since the cryptocurrency purchases in March and April 2021, the group has not bought or sold any cryptocurrencies under its cryptocurrency investment plan.