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Meitu Released Its 2023 Interim Performance Report: Book Impairment of Cryptocurrencies Held by It Rebounded by 186 Million Yuan

Meitu Inc. recently released its mid-term performance report for 2023. The data shows that in the first half of this year, Meitu's revenue reached 1.261 billion yuan, a year-on-year increase of 29.83%; the net profit attributable to shareholders reached 228 million yuan, turning losses into gains compared to the same period last year, and exceeding the previously forecasted range of 220 million yuan to 265 million yuan.

Public information shows that Meitu accumulated the purchase of 31,000 units of Ethereum (ETH) and about 940.89 units of Bitcoin (BTC) in 2021, with a total price of 100 million US dollars, equivalent to approximately 670 million yuan. Meanwhile, Meituan suffered heavy losses in the bear market last year due to holding cryptocurrencies. However, since this year, with the rebound in cryptocurrency prices, Meitu's book value has recovered by 186 million yuan, becoming the biggest "contributor" to performance improvement.

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