Analysts pointed out that Meitu's configuration of Bitcoin and Ethereum cannot improve its technology and application level in the domestic blockchain field, and may hope to boost its performance with the rising market of cryptocurrency. However, because Meitu bought Bitcoin at a relatively high price, and the cryptocurrency market is highly volatile, it is unclear whether it will bring benefits to Meitu in the future.
Recently, Meitu, a listed company in Hong Kong, released insider information and profit warning announcement. As of June 30, 2022, Meitu may have recorded a net loss of about 274.9 million yuan to 349.9 million yuan, an increase of about 99.6% to1545.438+0% compared with the net loss of about 654.38+377 million yuan in the same period last year. The expected increase in net loss is mainly due to the impairment of the purchased cryptocurrency.
On the evening of March 7th, 20021year, Meitu announced that on March 5th, 20021year, the group purchased 15000 units of ethereum and 379. 12 14267 units of bitcoin in the open market. Subsequently, topics such as "Meitu bought Bitcoin and Ethereum for 40 million dollars" and "Meitu Chairman responded to buy 260 million yuan of cryptocurrency" rushed to Weibo for hot search.
More than ten days later, Meitu announced that Miracle Vision, a wholly-owned subsidiary, had further purchased 6.5438+0.6 million sets of Ethereum, with a total consideration of about US$ 28.4 million. The total consideration for purchasing 386.08 units of bitcoin is about $265,438 +0.6 million. According to the announcement information, the average transaction price of Meitu's purchase of Ethereum and Bitcoin was $65,438+$0.775 and $55,900 respectively.
After more than half a month, Meitu once again announced the purchase of cryptocurrency. Meitu has purchased 3 1 0,000 units of Ethereum and about 940.89 units of Bitcoin, with a corresponding total price of 50.5 million dollars and 49.5 million dollars respectively, amounting to 654.38 billion dollars.
Less than a year and a half after buying coins, the value of cryptocurrency fell rapidly, and Bitcoin fell below the $20,000 mark, which directly led to the decline of Meitu's performance. Meitu predicts that in the upcoming interim financial report in 2022, the impairment losses of purchasing Ethereum and Bitcoin will be about 6.5438+08.5 million dollars and 27.65438+00 million dollars respectively, totaling about 45.6 million dollars, or about 3.65438+065438+00 million yuan.
Configuring cryptocurrency is a "gamble" for Meitu to boost its performance and share price. Meitu said in the announcement that investing in Ethereum is to prepare for entering the blockchain industry. Investing in Bitcoin is one of Meitu's asset allocation strategies.
In fact, Meitu, whose transformation is not good, has already tried to set foot in the currency circle. Cai Wensheng, chairman of Meitu, invested in the cryptocurrency exchange OKEx on 20 14. At the beginning of 20 18, Cai Wensheng became the rotating group owner of the "three o'clock blockchain group". Longling Investment, founded by Cai Wensheng, also participated in FCoin, a cryptocurrency exchange.
Also at the beginning of 20 18, Meitu launched a blockchain wallet product Beautychain, and then the token of beauty chain (BEC) landed in OKEx, and Meitu was named as the publisher of BEC token. In April of the same year, BEC tokens that had been online for two months were abnormally traded, and some hackers generated tokens indefinitely through contract batch transfer, which triggered a wave of selling, and the currency price was almost zero. Meitu subsequently stated that "digital currency has not been released and will not be released".
Dong Sheng pointed out that according to Meitu's statement in the announcement, investing in Bitcoin is only for one of the corporate asset allocation strategies, while investing in Ethereum is Meitu's preparation for entering the blockchain industry. However, in the domestic market environment, the configuration of Bitcoin and Ethereum does not mean that Meitu is increasing its investment in blockchain. Coin circle and chain circle are always distinct in China. Meitu's configuration of Bitcoin and Ethereum cannot improve its technology and application level in the domestic blockchain field.
Long-term losses also caused Meitu's share price to plummet and its market value to plummet. Meitu's share price once exceeded HK$ 23 in March of the second year of listing (2065438+07), but then it fell all the way. From the second half of 20 19 to 2020, it will wander around 1 HKD for a long time. 202/kloc-returned to HK$ 2 in February, and recently hovered around HK$ 1. As of the close of July 5, Meitu closed at HK$ 0.93, which was the same as the closing price of the previous trading day. The stock price fell 10.58% the day before.
This article is from International Finance News.