Meitu Inc.: Sold all of its purchased cryptocurrencies for a profit of approximately $79.63 million

According to a report by Financial Associated Press on December 4, Meitu Inc. announced on the Hong Kong Stock Exchange that it began selling its purchased cryptocurrencies on the market starting from November 2024. As of December 4, 2024, it has sold all of its purchased cryptocurrencies (approximately 31,000 units of Ethereum and 940 units of Bitcoin), with total cash consideration of approximately $100 million and $80 million, respectively. The sale generated a profit of approximately $79.63 million (equivalent to about 571 million RMB). The board intends to use about 80% of the net proceeds from the sale to pay a special dividend, while the remaining net proceeds will be used as general working capital to expand the group’s image and design product business, which primarily operates on a paid subscription model.