According to PANews on July 17, Meitu announced that it expects to turn losses into profits in the first half of this year, recording shareholders’ net profit between 220 million and 265 million yuan, compared with a net loss of about 266 million yuan in the same period last year. 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 of purchased cryptocurrencies was reversed by approximately RMB 185 million . Since purchasing cryptocurrencies in March and April 2021, Meitu Group has not purchased or sold any cryptocurrencies under the cryptocurrency investment plan.