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.

According to ChainCatcher news, Meitu's annual performance report for 2022 released on the Hong Kong Stock Exchange shows that as of December 31, 2022, the fair value of Ethereum and Bitcoin purchased by Meitu was $37.3 million and $15.6 million, respectively, with an annual impairment loss of approximately RMB 86.6 million and 198.2 million. (Source link)

ChainCatcher news, according to an announcement by Meitu Inc. on the Hong Kong Stock Exchange, the group has not purchased or sold any cryptocurrency based on its cryptocurrency investment plan since the purchase of cryptocurrency.According to International Financial Reporting Standards, the group expects to recognize an impairment loss of approximately 285 million yuan for the cryptocurrency purchased in the group's upcoming annual results for the year ended December 31, 2022. The impairment loss on the purchased cryptocurrency offsets part of the impact on the group's net profit from the fair value gains of financial assets measured at fair value with changes recognized in profit or loss. (source link)