Odaily Planet Daily News Meitu announced that it expects to turn losses into profits in the first half of this year, with a net profit of 220 million to 265 million yuan.

The main reason for the expected turnaround is that as of June 30, 2023, the market price of purchased cryptocurrencies was higher than the market price on December 31, 2022, so the impairment loss of purchased cryptocurrencies was reversed by approximately RMB 185 million Yuan.
Since purchasing cryptocurrencies in March and April 2021, the Group has not purchased or sold any cryptocurrencies under the cryptocurrency investment plan.
Previously, on February 20, Meitu announced on the Hong Kong Stock Exchange that since the purchase of cryptocurrencies, the group has not purchased or sold any cryptocurrencies according to the cryptocurrency investment plan. According to the International Financial Reporting Standards, the Group expects to recognize an impairment loss of approximately RMB 285 million for the purchased cryptocurrencies in the Group's upcoming annual results for the year ending December 31, 2022. The impairment loss of purchased cryptocurrencies has offset the impact on the net profit of the Group from the fair value gains of some of the Group's financial assets measured at fair value through profit or loss.