WALNUT CAP (00905) announced that on August 30, 2025, the company's executive director and controlling shareholder Meng Pinwen (who holds a 56% interest in the company's total issued shares through Linghua Investment Holdings Limited) entered into a gift deed with Ku Lang Holdings Limited (Ku Lang, a direct wholly-owned subsidiary of the company).

Under the gift deed, Meng Pinwen irrevocably and unconditionally transfers, conveys and assigns 10 million CoinUp (CP) tokens to Ku Lang for its absolute use and benefit. According to the gift deed, no consideration shall be payable under any circumstances, and Ku Lang shall not assume any obligations to Meng Pinwen in respect of the gift (including but not limited to repayment obligations). Apart from Ku Lang becoming the owner of the gift, Ku Lang shall not assume any other rights or obligations in respect of the gift.

Currently, CP tokens are primarily used and traded on the CoinUp cryptocurrency trading platform. The group intends to retain the gift as reserves and may monetize it at an appropriate time. The group will not recognize any income for the gift. The gift will be held by the group for capital appreciation and will therefore be treated as intangible assets in the company's financial statements.