Questions About Using A Chinese Float

[Giuga10]

Hi,
I was fishing at Toogood pond a couple months ago when I stumbled upon this float in the mud. It had been left by another fisherman. I picked it up and put it in my tackle box for later.

To this day I still have no clue on how to use it.

So I am asking you guys if you have any ideas or know how to use it. Anything helps.

Pics:

Regular pic. One side.


Another Pic. Same side as above.


Another Regular Pic. Opposite side from above.


The Float has sort of a cap that can be removed but it seems like it needs to stay on during use.


The writing on it. It looks like Chinese but I'm not too sure. The top symbol is a Yin Yang but aside from that it just looks like Chinese writing to me.


Any help would be great because I've been dying to use it.
Also there is no spot that allows you to put the line through or clip the line on so I assume that the removable cap is where the line goes but again, I have no idea .

Any help would be great,
Thanks,
Giuga10