This article only represents the author's own views.
Beauty app maker Meitu Inc. (1357.HK) can touch up its financial reality only so much for investors who have waited years for the company’s first real profits.
One prominent investor may be losing patience with the company as it continues to lose money years after it went public, causing its shares to sag to well below where they traded at their flashy market debut. Lee Kai-Fu, a venture capitalist who formerly was a senior Google executive, slashed his stake in Meitu, which he acquired prior to the software maker’s 2016 IPO, to 0.59% from 0.75% last month, and further cut it to 0.52% this week, according to a Tuesday filing to Hong Kong’s stock exchange. Lee remains on Meitu’s board as a non-executive director.