1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. Meitu, Inc.
  6. News
  7. Summary
    1357   KYG5966D1051

MEITU, INC.

(1357)
  Report
Delayed Hong Kong Stock Exchange  -  05/24 11:50:28 pm EDT
0.9200 HKD   +1.10%
04/01MEITU (01357.HK) : Founder and CEO Wu Xinhong increases his stake in the company, showing his confidence in the image SaaS and beauty industry SaaS businesses of the company
PU
03/30TRANSCRIPT : Meitu, Inc., 2021 Earnings Call, Mar 30, 2022
CI
03/30Meitu, Inc. Reports Earnings Results for the Full Year Ended December 31, 2021
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Chinese beauty app Meitu shares surge after cryptocurrency investment

03/07/2021 | 09:45pm EDT
A logo of Meitu is displayed at a news conference in Hong Kong

HONG KONG (Reuters) - Shares of Hong Kong-listed Chinese photo editing app Meitu Inc rose as much as 14.4% on Monday morning after the company said it had bought $40 million of cryptocurrencies.

The beauty-focussed technology firm said in a Sunday evening exchange filing that it bought $22.1 million worth of Ether, the world's second-largest cryptocurrency by market capitalisation, and $17.9 million worth of Bitcoin on March 5.

Meitu is the latest company to say it will hold cryptocurrencies as part of its treasury operations. Last month, Tesla Inc revealed it had bought $1.5 billion of Bitcoin, which sent the token's price up 20%.

Meitu said the purchase was partly for investment and partly as preparation to enter the blockchain industry, and that it would finance it from its existing cash reserves.

The company is evaluating the feasibility of integrating blockchain technologies into its overseas businesses, which could include projects on the Ethereum blockchain network.

Ether powers contracts and applications on the Ethereum network, and so purchasing it was a "logical preparation", the filing said.

Meitu's shares pared gains and were last up 5%, outpacing a 0.5% rise in the local benchmark index.

(Reporting by Alun John; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN (BTC/EUR) 1.41% 27613.8 End-of-day quote.-34.30%
BITCOIN (BTC/USD) 1.91% 29630.1 End-of-day quote.-37.93%
ETHEREUM (ETH/BTC) -1.58% 0.0667 End-of-day quote.-15.44%
ETHEREUM (ETH/EUR) -0.19% 1842.39 End-of-day quote.-44.45%
ETHEREUM (ETH/USD) 0.39% 1978.37 End-of-day quote.-47.48%
MEITU, INC. 1.10% 0.92 Delayed Quote.-39.35%
TESLA, INC. -6.93% 628.16 Delayed Quote.-36.14%
All news about MEITU, INC.
04/01MEITU (01357.HK) : Founder and CEO Wu Xinhong increases his stake in the company, showing ..
PU
03/30TRANSCRIPT : Meitu, Inc., 2021 Earnings Call, Mar 30, 2022
CI
03/30Meitu, Inc. Reports Earnings Results for the Full Year Ended December 31, 2021
CI
03/30MEITU RELEASE ANNUAL RESULTS OF 2021 : Revenue in 2021 was RMB1.666 billion, VIP subscript..
PU
03/05MEITU : releases 6 new products during its Image Festival and announces that its premium s..
PU
01/06INCE completes $700 million VC fundraising amid China tech crackdown
RE
2021MEITU : Denies Connection With Sanctioned Website in China
MT
2021TRANSCRIPT : Meitu, Inc., H1 2021 Earnings Call, Aug 25, 2021
CI
2021Meitu, Inc. Reports Earnings Results for the Half Year Ended June 30, 2021
CI
2021MEITU : releases its 2021 interim results, which show a total revenue of RMB806 million, w..
PU
More news
Financials
Sales
Net income
Net Debt
P/E ratio
Yield
Capitalization 3 403 M 511 M 511 M
EV / Sales -1
EV / Sales 0
Nbr of Employees 2 090
Free-Float 49,3%
Chart MEITU, INC.
Duration : Period :
Meitu, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MEITU, INC.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Managers and Directors
Xin Hong Wu Chief Executive Officer & Executive Director
King Leung Ngan Chief Financial Officer & Secretary
Wen Sheng Cai Chairman
Yongli Ruan Senior Vice President of Technology
Xiujuan Wang Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
MEITU, INC.-39.35%528
OMNICOM GROUP., INC.2.16%15 607
PUBLICIS GROUPE SA-8.04%14 745
WPP PLC-13.77%13 258
FOCUS MEDIA INFORMATION TECHNOLOGY CO., LTD.-33.09%12 380
THE INTERPUBLIC GROUP OF COMPANIES, INC.-16.66%12 286