Meitu’s senior investor relations manager Kang Yicong shed light on the company’s remarkable turnaround in performance this year in a recent interview with Hong Kong’s “Sing Tao Daily” newspaper. It has become clear what Meitu, which attracts attention especially with its cryptocurrency moves, will do with these assets. Here are the details…
Meitu may sell cryptocurrencies
According to Yicong, the company’s subscription system has played a crucial role in stabilizing its earnings and insulating it from the volatile changes of the macroeconomic environment. Known for its innovative offers in the fields of beauty and technology, Meitu has taken important steps in its operations this year. This positive trend is largely attributed to the strategic implementation of a subscription model that has proven to be a game changer for the company. By shifting to a subscription-based approach, Meitu has managed to insulate itself from the erratic fluctuations often associated with the broader economic climate. This model contributed to the company’s increased financial performance by providing a stable and consistent revenue stream.
A notable aspect of Meitu’s recent success is its foray into the emerging artificial intelligence (AI) business space. Meitu has seamlessly integrated AI into its products and services, which has not only driven subscription growth but also significantly increased the company’s profitability. Yicong emphasized that Meitu’s AI business is on a trajectory to increase its subscription numbers while continuing to increase its profitability. Interestingly, Kang Yicong also touched on the topic of cryptocurrency investments, which has been the subject of significant speculation and interest lately. He explained that Meitu has decided to shift its focus away from cryptocurrencies and may consider divesting these assets at the right point.
The first investment arrived in 2021
It is important to note that Meitu has essentially stopped buying cryptocurrencies after 2021. The purchase of cryptocurrencies during this period was guided by strategic considerations and no other operations in this area have occurred since then. Meitu’s stance on cryptocurrencies reflects the dynamic nature of the crypto asset market. The company’s pivot to subscription services and successful integration of artificial intelligence technology exemplifies its commitment to innovative strategies that have been instrumental in its turnaround this year. As Meitu continues to chart a new course in the world of beauty and technology, its strategic choices are poised to shape its future trajectory by emphasizing stability, innovation and adaptability in the ever-evolving technology landscape.
What does the company have?
Hong Kong tech giant Meitu made headlines in April 2021 after reporting nearly $100 million in crypto assets. However, with the onset of the bear market, the tech firm lost almost half the value of its crypto assets. In an exchange filing in July 2021, Meitu reported crypto assets consisting of approximately 940 Bitcoin and 31,000 Ether. These were purchased for $49.5 million and $50.5 million respectively.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.