Meitu: Cryptocurrency recognized impairment loss of about 285 million yuan

BlockBeats news, on February 20th, Meitu Company announced on the Hong Kong Stock Exchange that since the cryptocurrency purchase, the group has not purchased or sold any cryptocurrency under the cryptocurrency investment plan. In accordance with International Financial Reporting Standards, the Group expects to have recognized an impairment loss of approximately RMB 285 million in respect of the purchase of cryptocurrencies in the Group's forthcoming results for the year ending 31 December 2022. The impairment loss of cryptocurrency purchased hedges the impact on the group's net profit of the fair value income of some of the group's financial assets measured at fair value and whose changes are booked into current profit and loss. (Kim Ten)