BitFuFu Inc. Appoints Calla Zhao as New CFO Amid Positive Market Momentum

BitFuFu Inc. (NASDAQ: FUFU) has appointed Ms. Calla Zhao as its new Chief Financial Officer, effective last Monday. Zhao, who has served as the company’s financial controller since September 2021, brings extensive experience to her new role.

Zhao’s career includes a notable tenure at GGG Limited, an investment division of a conglomerate, from 2017 to 2021, and six years as an auditor at KPMG from 2005 to 2011. She is a Certified Public Accountant (CPA) with a Bachelor of Arts in Management, majoring in accounting, from Peking University.

BitFuFu, a strategic partner of Bitmain, the foremost digital asset mining hardware manufacturer, focuses on developing a secure and transparent blockchain infrastructure. The company provides a variety of intelligent digital asset mining solutions to a global clientele, including institutional clients and individual enthusiasts, through its expanding network of mining facilities.

As Zhao steps into her role, BitFuFu’s financial health and stock performance metrics offer a context for her tenure. BitFuFu’s market capitalization is $566.9 million. The company’s P/E ratio stands at 23.08, adjusting to a more favorable 13.15 based on the last twelve months as of Q1 2024, indicating a potential undervaluation of its earnings capacity.

However, Zhao will need to address the company’s weak gross profit margins, which have been recorded at 15.25% over the past twelve months as of Q1 2024. Despite these challenges, BitFuFu’s stock has risen by 22.97% over the last month. BitFuFu’s strategic direction and Zhao’s appointment appear to be generating positive investor sentiment, as evidenced by the recent uptick in stock performance despite a 67.05% decline over the past year.

Leo Lu, CEO of BitFuFu, expressed confidence in Zhao’s new role, highlighting her crucial involvement in the company’s NASDAQ listing earlier this year and her comprehensive understanding of BitFuFu’s operations. Lu expects Zhao’s expertise to significantly contribute to the company’s future growth.

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