A number of blockbuster earnings data are poor, prompting investors to avoid risk.

MeituIt opened sharply lower by 7% on Wednesday and fell 18% so far in morning trading to HK $4.02. The transaction exceeded 100 million yuan.

A number of data on 01357-HK 's interim results fell.

The company's revenue fell 6 per cent year-on-year to 2.05 billion yuan. (the same below), the loss narrowed only slightly to 130 million yuan. The number of comprehensive monthly active users (MAU) fell by 16%, and the MAU of Meitu's entire line of products recorded a decline in the first half of the year. Meitu, Beauty camera and Beauty shot decreased by 1%, 6% and 56%, respectively. Meitu's mobile phone shipments fell 37 per cent to 533000 in the first half, causing smart hardware revenue to fall 23 per cent.

Chairman Cai Wensheng said at the performance meeting that during the period of preparation for Meitu's transformation, from a tool to a social platform similar to Instagram, the impact of the transformation is expected to last half a year to one year. Yan Jinliang, chief financial officer, stressed that the decline in the MAU of its products was only temporary, coupled with the fact that Meipai had been removed from the shelves for a month in June, and that the Meipai team had moved to Beijing and would better communicate with regulators.

Detailed financial report data reference:"Meitu half-year performance: Mei Paiyue activity halved compared with the same period last year! The total number of monthly active users decreased by 16% compared with the same period last year."