Meitu Financial Report: Investment in Bitcoin and Ethereum will result in losses of 170 million yuan and 94.8 million yuan respectively in 2023

Meitu recently disclosed its 2023 performance, achieving a revenue of approximately 2.696 billion yuan, a year-on-year increase of 29.27%; the adjusted net profit attributable to shareholders was 370 million yuan (excluding the impact of cryptocurrency depreciation rollback), a year-on-year increase of 233.2%. However, Meitu still suffered losses in cryptocurrency investments. In 2023, Meitu's investment in Bitcoin and Ethereum resulted in losses of 170 million yuan and 94.8 million yuan, respectively. In 2022, the losses were 198.2 million yuan and 86.6 million yuan, respectively. Meitu stated that the company's total revenue and net profit growth were mainly due to AI driving the growth of its main business income.