Meitu company fried coins floating 300 million!Netizen: Is this the consequence of "not doing business"?

Red Star Capital Bureau July 4 news, a few days ago, Meitu (01357.HK) issued an announcement showing that in the first half of this year, due to the purchase of cryptocurrencies, the company's net loss may reach 274.9 million yuan to RMB 349.9 million, net loss The year -on -year expansion of about 99.6%to 154.1%. It is understood that on March 5, 2021, Meitu purchased the total consideration of $ 17.9 million and $ 22.1 million in Ethereum, respectively.

After the news was issued, the stock price fell below the HK $ 1 mark. As of the afternoon closing, Meitu's stock price reported at HK $ 0.96/share, down 7.69%, and the total market value was HK $ 4.236 billion. Some netizens commented: This is the consequence of "not doing business"?

The Red Star Capital Bureau noticed that since March 2021, the US Tu has purchased a total of about 31,000 units of Ethereum and about 940.89 units. According to the International Financial Report Guidelines, Meitu is expected to purchase Ethereum and Bitcoin in the first half of 2022 to confirm the impairment loss of about $ 18.5 million and about $ 27.1 million, totaling 45.6 million US dollars, equivalent to about 305 million yuan.

Although the impairment loss is nearly 300 million, the board of directors of Meitu has maintained optimism, saying that the fluctuations in the price of Ethereum and Bitcoin in the near future are only temporary.

Behind Meitu's floating loss of 300 million is the environment of the market value of Bitcoin and Ethereum. According to the Sino -Singapore Jingwei, Bitcoin hit a historical high of $ 69,000 in November 2021, and has now fallen to $ 19,000, over 70%from the historical peak. Ethereum reached a peak of 4,800 US dollars in November last year, and now it has fallen to $ 1070, a drop of over 77%.

It is worth noting that according to Meitu's 2021 report, as of December 31, 2021, Meitu's fair value has reduced the fair value of Bitcoin by about RMB 28.5 million.

Red Star reporter Yu Yaoqiangya Milling intern Tang Jian

Edit Yang Cheng

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