Major Shareholder of Walnut Capital Donates 10 Bitcoins and Other Cryptocurrencies to Company Subsidiary

According to Futu reports, Walnut Capital (00905.HK) announced that the company's executive director and controlling shareholder, Meng Pinwen, signed a deed of gift with the company's wholly-owned subsidiary, Kulong Holdings, on May 30. He will irrevocably and unconditionally transfer, convey, and assign 170 million AFG tokens, 5.8 billion FOFO tokens, and 10 bitcoins to Kulong.

Walnut Capital plans to retain this batch of virtual currencies as reserve funds and may cash them out at an appropriate time. The donation will not be recognized as income in the accounts and will be held for capital appreciation, being regarded as intangible assets in the company's financial statements.