Meitu (HK:1357) has released an update.
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Meitu has successfully sold its entire cryptocurrency holdings, comprising 31,000 units of Ether and 940 units of Bitcoin, for a total of $180 million. The company plans to allocate 80% of the proceeds to a special dividend and use the rest to expand its subscription-based imaging and design business. This strategic pivot aims to enhance Meitu’s core business performance, capitalizing on the growing demand for its photo and video products.
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