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Meitu CEO Reflects on Cryptocurrency Investment Decisions
According to PANews, Meitu CEO Wu Xinhong recently discussed the company's cryptocurrency investments, revealing that he supported the decision as a board member, viewing it as an investment opportunity. Last year, Meitu liquidated its cryptocurrency holdings, earning a profit of 570 million yuan, with 80% distributed as dividends to shareholders.
Wu candidly expressed that, given the chance to reconsider, he would prefer to allocate funds towards teams that align with the company's core business. He highlighted the challenges posed by cryptocurrency investments, noting that when Bitcoin prices plummeted, Meitu's stock price fell despite improved company performance. Conversely, when Bitcoin prices rose, the stock price did not experience a corresponding increase.
Wu candidly expressed that, given the chance to reconsider, he would prefer to allocate funds towards teams that align with the company's core business. He highlighted the challenges posed by cryptocurrency investments, noting that when Bitcoin prices plummeted, Meitu's stock price fell despite improved company performance. Conversely, when Bitcoin prices rose, the stock price did not experience a corresponding increase.
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