Hong Kong has become the main battlefield for Cai Wensheng's Web3 ventures.

Cai Wensheng has reduced his holdings again. According to Hong Kong Stock Exchange filings, on September 15, MEITU founder Cai Wensheng sold 3.5 million shares of MEITU Company on the Hong Kong Stock Exchange at an average price of HK$9.5675 per share, cashing out approximately HK$33.49 million, with his shareholding ratio dropping to 9.95%.

Wind data shows that since February 18 this year, Cai Wensheng has reduced his holdings in MEITU Company 14 times, cumulatively selling 162 million shares. Currently, Cai Wensheng's shareholding ratio has fallen below that of current Chairman Wu Xinhong's 12.89%.

Particularly notable was February this year, when MEITU Company announced that Cai Wensheng sold 128 million MEITU shares through Longlink Capital Ltd between February 17-21, 2025, representing approximately 2.81% of the company's total share capital. At that time, MEITU Company's stock price was at high levels.

Following these high-frequency reductions, Cai Wensheng is estimated to have cashed out over 1 billion yuan.

Cai Wensheng's high-level share reductions have raised questions in the capital market about his "cash-out exit." Therefore, current Chairman Wu Xinhong, as co-founder, subsequently increased his holdings to boost investor confidence.

It is understood that Cai Wensheng resigned as MEITU Company chairman in 2023 and has since been active in the Web3 field. Notably, at the end of 2024, MEITU Company cleared its cryptocurrency assets to focus on its core imaging tools business, while Cai Wensheng's Web3 investments were accelerating.

In November last year, Cai Wensheng told media in Hong Kong that mainland China would definitely embrace Web3 in the future and might even reopen digital currency trading. Hong Kong has become an important battlefield for Cai Wensheng's Web3 ventures.

In May 2025, Cai Wensheng spent HK$650 million to purchase the "Tin Hau Plaza" and renamed it "CAI Building," positioning it as an AI-Web3 incubator and using it as a pivot point for his renewed entrepreneurship. As a member of the Third Generation Internet Development Task Force appointed by the SAR government, Cai Wensheng's purchase of office property serves as a startup base for artificial intelligence AI and Web 3.0, aimed at cultivating excellent talent and creating technology companies.

Subsequently, Cai Wensheng made moves on Hong Kong Stock Exchange listed companies, acquiring two companies in succession. In June this year, Longling Capital Ltd, actually controlled by Cai Wensheng, spent HK$46.08 million to acquire 121 million shares from original shareholders Lin Shusong and Capital Venture of China Financial Leasing Group Limited, representing approximately 34.96% of the company's total share capital.

In July, Cai Wensheng struck again, with Longling Capital Ltd acquiring over 669 million shares from five shareholders of China New Economy at HK$0.106 per share, involving approximately 50.71% equity, with total consideration reaching HK$70.93 million.

Additionally, these two transactions triggered Cai Wensheng's companies' mandatory general offer obligations, meaning Cai Wensheng will gain controlling rights over both companies. Cai Wensheng has also clearly stated his intention to maintain both companies' existing listed and unlisted equity investment businesses, while also targeting "establishing an asset management platform to invest in Hong Kong technology incubation companies and participate in early-stage equity investments, increasing investment in artificial intelligence, Web 3.0 industries, and digital asset financial products."