The CEO of Meitu responds to the company's "coin buying past": closed all positions with a profit of 570 million yuan, and 80% of the earnings have been distributed as Dividend.

On June 3, according to LatePost, Meitu CEO Wu Xinhong stated, “Previously, the company’s blind diversification strategy was mostly led by me, not Cai Wensheng. I don’t want to comment on Meitu’s investment in coins anymore, as it has become a thing of the past. From the board’s voting at that time, I also voted in favor of Meitu’s coin investment; I just viewed it as an investment. In terms of results, it was indeed a good return on investment. At the end of last year, Meitu sold all the Crypto Assets it held, earning 570 million yuan, with 80% of the profits distributed as dividends to shareholders. However, if I could go back in time, I might prefer to use that money to find good teams that could collaborate with our business. Sometimes, even when performance has clearly improved, if Bitcoin experiences a big dump, our stock price immediately falls, but when Bitcoin rises, our stock price doesn’t rise at all.”