Cailian News Agency, July 16th (Editor Ma Yijie) On July 14th, Meitu Company (01357. HK) released a profit announcement, predicting that as of June 2023, it may achieve a net profit attributable to shareholders of 220 million yuan to 265 million yuan, compared to a loss of 266 million yuan in the same period last year
Cailian News Agency, July 16th (Editor Ma Yijie) On July 14th, Meitu Company (01357. HK) released a profit announcement, predicting that as of June 2023, it may achieve a net profit attributable to shareholders of 220 million yuan to 265 million yuan, compared to a loss of 266 million yuan in the same period last year. According to non International Financial Reporting Standards, the adjusted net profit attributable to shareholders was 140 million yuan to 155 million yuan, up 289% to 331% year on year.
Since the beginning of this year, Meitu Company has become the focus of the market through the use of hot concepts such as "AIGC" (Generative Artificial Intelligence), which has received considerable attention from funds. As of July 14th, Meitu's cumulative increase for the year reached 131.85%.
Meitu has experienced significant growth in the past six months, both due to market hype about the concept of "AIGC" and market expectations for Meitu's AI business.
It is worth noting that the profit improvement of Meitu this time is not closely related to the AI business with high market attention.
In its announcement, Metu said that the main reason for turning loss into profit in the medium-term performance was the rise in the price of Cryptocurrency purchased earlier, which resulted in a write back of 185 million yuan of impairment losses.
According to previous financial reports, in 2022, Metu recognized impairment losses of about 86.6 million yuan and 198.2 million yuan for the purchased Ether and Bitcoin respectively, with a total loss of 285 million yuan on investment in Cryptocurrency.
Since this year, the transaction price of mainstream Cryptocurrency has continued to rebound, restoring the value of relevant assets held by Meitu.
Market data shows that on June 18, 2022, Bitcoin prices hit a low of $17708 and began to rebound. As of June 16, 2023, the real-time price of BTC Bitcoin was approximately $25511.15, with a rebound of 44% in the past year.
In addition, the transaction price of Ether, another mainstream Cryptocurrency, has rebounded by more than 50% since this year.
However, from the performance perspective, the investment of Mitu in Cryptocurrency fluctuates greatly. Although the price of Cryptocurrency has led to the recovery of the company's performance, the sustainability of the performance contribution and the medium and long-term impact are still unknown.
This article originates from Ma Yijie of Cailian News Agency
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