---
title: "WALNUT CAP: Controlling shareholder Meng Pinwen and Kulong sign a gift deed"
description: "WALNUT CAP announced that its controlling shareholder Meng Pinwen signed a gift deed with Kulang Holdings Limited, transferring 10 million CoinUp tokens to Kulang. The gift is irrevocable and uncondit"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/255350400.md"
published_at: "2025-08-31T10:12:02.000Z"
---

# WALNUT CAP: Controlling shareholder Meng Pinwen and Kulong sign a gift deed

> WALNUT CAP announced that its controlling shareholder Meng Pinwen signed a gift deed with Kulang Holdings Limited, transferring 10 million CoinUp tokens to Kulang. The gift is irrevocable and unconditional, and Kulang has no repayment obligation. CP tokens are primarily used on the CoinUp trading platform, and the group plans to use them as reserves, with the possibility of cashing them out in the future, and will not recognize any income, treating them as intangible assets

According to the announcement from Walnut Capital (00905), on August 30, 2025, the company's executive director and controlling shareholder Meng Pinwen (who holds 56% of the company's issued shares through Linghua Investment Holdings Limited) entered into a gift deed with Kuran Holdings Limited (Kuran, a direct wholly-owned subsidiary of the company). According to the gift deed, Meng Pinwen irrevocably and unconditionally transfers, assigns, and conveys 10 million CoinUp (CP) tokens (the gift) to Kuran for its absolute use (the donation). Under the gift deed, there will be no consideration payable in any circumstances, and Kuran will not have any obligations to Meng Pinwen regarding the donation (including but not limited to repayment obligations). Apart from Kuran becoming the owner of the gift, Kuran will not assume any other rights or obligations regarding the donation.

Currently, CP tokens are primarily used and traded on the CoinUp cryptocurrency trading platform.

The group intends to retain the gift as a reserve and may cash it out at an appropriate time. The group will not recognize any income from the donation in its accounts. The gift will be held by the group as capital appreciation and will be considered an intangible asset in the company's financial statements

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.