Meitu announced on the Hong Kong Stock Exchange that since the purchase of cryptocurrencies, the group has not purchased or sold any cryptocurrencies in accordance with the cryptocurrency investment plan.

According to the International Financial Reporting Standards, the group expects to recognize an impairment loss of approximately RMB 285 million in the group's annual results for the year ending December 31, 2022 to be announced.

The impairment loss of the purchased cryptocurrencies offset the impact of the fair value gains of some of the group's financial assets measured at fair value and whose changes are included in the current profit and loss on the group's net profit.

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