BUSINESS

Meitu Co-Founder and Wife Defy Hong Kong Property Slump With $141 Million in Purchases

Published: May. 16, 2025 5:04 p.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

Cai Wensheng, co-founder and former chairman of Meitu Inc. Photo: Bloomberg

Cai Wensheng, co-founder of Chinese photo editing app Meitu Inc., and his wife have reportedly spent HK$1.1billion ($141 million) on Hong Kong property, snapping up a commercial tower and a luxury residence during the market downturn.

Cai, a long-term Hong Kong resident, bought the 25-story Park Aura commercial building in the Tin Hau neighborhood for HK$650 million, according to recent media reports and brokerage data. His wife, Wang Baoshan, spent nearly HK$470 million to acquire a mansion and land at 8 Perkins Road in the upscale Jardine’s Lookout area.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

Cai Wensheng and his wife spent HK$1.1 billion ($141 million) on Hong Kong properties, including the Park Aura building and a Jardine’s Lookout mansion.
The Park Aura tower, with a 40% occupancy rate, will partly be used for Cai’s AI, startup, and crypto ventures.
Cai, a key Meitu shareholder, profited HK$100 million in dividends from Meitu’s crypto operations and sold shares for over HK$800 million in February 2024.

AI generated, for reference only

Who’s Who

Meitu Inc.: Meitu Inc. is a Chinese company known for its photo editing app. Formerly chaired by co-founder Cai Wensheng, who remains a key shareholder, Meitu is listed in Hong Kong. The company ventured into cryptocurrency investments under Cai's influence, making several large crypto purchases starting in 2021. In December 2023, Meitu liquidated all its crypto holdings and distributed 80% of the $79.63 million profit as a special dividend to shareholders.

Midland IC&I Ltd.: Midland IC&I Ltd. is a real estate agency referenced in the article. They provided information about the Park Aura building’s specifications, such as its total gross floor area and current occupancy rate. The agency also suggested that now is an opportune time for long-term businesses to invest in Hong Kong’s commercial property market, as prices have dropped over 50% from their peak.

Baolink Capital Ltd.: Baolink Capital Ltd. is a company controlled by Wang Baoshan, the wife of Cai Wensheng. As of Thursday, Baolink Capital Ltd. held a 9.88% stake in Meitu Inc., a Hong Kong-listed company co-founded by Cai.

Longlink Capital Ltd.: According to the article, Longlink Capital Ltd. is the entity through which Cai Wensheng sold 128 million shares of Meitu between February 17 and February 21, netting over HK$800 million based on the average closing price of HK$6.4 during that period.

AI generated, for reference only