Meitu (HK:1357) has released an update.
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Meitu, Inc. has entered into new contractual arrangements with Mr. Wu Zehuai and Xiamen Hongtian following an equity transfer, allowing continued control over Meitu Networks despite restrictions on foreign ownership in China’s telecommunications industry. These arrangements, exempt from certain regulatory requirements, aim to ensure the company’s strategic operations and economic benefits remain intact. Investors and market watchers might find these developments significant given the ongoing legal complexities in the tech sector.
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