Walnut Capital's major shareholder donates 10 bitcoins and other virtual currencies to company subsidiaries

On May 30th, according to a report by Futu, Walnut Capital (00905. HK) announced that its executive director and controlling shareholder, Meng Pinwen, entered into a gift agreement with its wholly-owned subsidiary, Kulang Holdings, on May 30th to irrevocably and unconditionally transfer, convey, and transfer 170 million AFG tokens, 5.8 billion FOFO tokens, and 10 bitcoins to Kulang. Walnut Capital plans to keep this batch of virtual currency as a reserve and may cash it out at an appropriate time. The donation will not be recognized as any income and will be held as capital appreciation, which will be considered intangible assets in the company's financial statements.