Meitu CEO: The company's cryptocurrency investments were fully liquidated by the end of last year, yielding a profit of 570 million yuan, with 80% of the earnings already distributed as dividends.

ChainCatcher news, according to LatePost, Meitu CEO Wu Xinhong stated, "Previously, the company's blind diversification strategy was mostly led by me, not Cai Wensheng. I no longer want to comment on Meitu buying cryptocurrencies because it has become a thing of the past.

From the board's vote at that time, I also voted in favor of Meitu buying cryptocurrencies, viewing it simply as an investment. In terms of results, it was indeed a good investment return. At the end of last year, Meitu sold all its held cryptocurrencies, earning 570 million yuan, with 80% of the profits distributed as dividends to shareholders.

However, if I could go back, I might prefer to use that money to find some good teams that can synergize with our business. Sometimes, even when the performance has clearly improved, if Bitcoin suddenly drops, our stock price immediately falls, but when Bitcoin rises, our stock price actually does not increase."