NEW YORK, Dec. 2, 2024 /PRNewswire/ -- Future Fintech Group Inc. (NASDAQ: FTFT), (hereinafter referred to as "Future FinTech", "FTFT" or the "Company"), a comprehensive financial and digital technology service provider, today announced an update of the Company's Blockchain Business Division. The division was established in December 2021 to manage its existing blockchain business to include its development as well as the execution of its strategic growth plan.The new focus of the Blockchain Business Division ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number: 001-34502 Future FinTech Group Inc. (Exact name of registrant as specified in its charter) | --- | --- | |-------|----------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number: 001-34502 Future FinTech Group Inc. (Exact name of registrant as specified in its charter) | --- | --- | |-------|---------------------- ...

NEW YORK, Aug. 9, 2024 /PRNewswire/ -- Future Fintech Group Inc. (NASDAQ: FTFT), (hereinafter referred to as "Future FinTech", "FTFT" or the "Company"), a comprehensive financial and digital technology service provider, today announced that its Board of Directors (the "Board") approved the appointment of Mr. Hu Li as Chief Executive Officer ("CEO"), President and a member of the Board of the Company, effective August 5, 2024.Mr. Li will be fully responsible for the operation and management of the Company, h ...

NEW YORK, June 04, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Future FinTech Group Inc. (NASDAQ: FTFT) on behalf of long-term stockholders following a class action complaint that was filed against Future FinTech on January 16, 2024 with a Class Period from March 10, 2020 to January 11, 2024. Our investigation concerns whether the board of directors of Future FinTech have breached their fiduciary duties ...

Subsidiary and Acquisition Activities - The company completed the deregistration and dissolution of its VIE, E-Commerce Tianjin, on March 7, 2024, due to minimal revenue generation since 2021[148][158] - FTFT UK Limited acquired 100% of Khyber Money Exchange Ltd. for €685,000 on September 29, 2022, and renamed it FTFT Finance UK Limited[155] - Future FinTech (Hong Kong) Limited acquired 100% equity interest in Alpha International Securities (Hong Kong) Limited and Alpha Information Service (Shenzhen) Co., Ltd., approved by the SFC in August 2023[156] - The company established Future Trading (Chengdu) Co., Ltd. on April 14, 2022, focusing on bulk commodities supply chain financing services and trading[153] - The company acquired KAZAN S.A. in Paraguay for $288 on April 18, 2022, but dissolved it in December 2023 due to unsuccessful cryptocurrency mining business development[154] - The company operates nine directly controlled subsidiaries across various jurisdictions, including DigiPay FinTech Limited and FTFT UK Limited[160] Regulatory and Operational Approvals - FTFT UK Limited received approval to operate as an Electronic Money Directive (EMD) Agent in March 2022, registered with the UK Financial Conduct Authority[153] Financial Performance and Metrics - Supply chain financing/trading revenue increased by $0.33 million, a 298.71% growth from $0.11 million in Q1 2023 to $0.44 million in Q1 2024[174] - Asset management service revenue grew by $1.21 million, a 38.25% increase from $3.16 million in Q1 2023 to $4.37 million in Q1 2024[174] - Total revenue for Q1 2024 reached $5.12 million, a 52.27% increase from $3.36 million in Q1 2023[174] - Gross profit margin for asset management service improved to 38.3% in Q1 2024 from 33.4% in Q1 2023[177] - Supply chain financing/trading gross margin decreased to 10.0% in Q1 2024 from 95.5% in Q1 2023[177] - Total operating expenses decreased to 87.5% of revenue in Q1 2024 from 110.8% in Q1 2023[179] - Bad debt provision increased by $0.78 million in Q1 2024 compared to Q1 2023[180] - Research and development expenses decreased by $0.21 million in Q1 2024 compared to Q1 2023[181] - Net loss from continuing operations increased by $1.83 million to $3.97 million for the three months ended March 31, 2024[185] - Gain on disposal of discontinued operations was $0.65 million for the three months ended March 31, 2024[186] - Basic and diluted loss per share from continuing operations were $0.20 for the three months ended March 31, 2024[187] Cash Flow and Working Capital - Cash and restricted cash decreased to $14.89 million as of March 31, 2024 from $19.03 million as of December 31, 2023[188] - Working capital decreased to $36.78 million as of March 31, 2024 from $36.76 million as of March 31, 2023[188] - Net cash used in operating activities decreased by $2.12 million to $8.15 million for the three months ended March 31, 2024[188] - Net cash used in investing activities increased by $0.61 million to $0.80 million for the three months ended March 31, 2024[189] - Net cash provided by financing activities increased by $2.61 million to $2.55 million for the three months ended March 31, 2024[189] Legal and Regulatory Risks - The company faces legal and operational risks in China and Hong Kong, including regulatory changes and cybersecurity reviews, which could impact its business and stock value[150][151] - The company's disclosure controls and procedures were not effective as of March 31, 2024 due to a material weakness in internal control over financial reporting[192] Strategic Shifts and Corporate Actions - The company transitioned from fruit juice manufacturing to financial technology services due to increased production costs and environmental regulations in China[148] - The company implemented a 1-for-5 reverse stock split on February 1, 2023, reducing authorized shares from 300,000,000 to 60,000,000[157] Asset Management - NTAM managed approximately $359 million in assets as of March 31, 2024[167] Legal Awards - The company was awarded $10,598,379.93 in a legal case with FT Global Litigation, including $7,895,265.31 in damages[196]

NEW YORK, April 30, 2024 /PRNewswire/ -- Future Fintech Group Inc. (NASDAQ: FTFT), (hereinafter referred to as "Future FinTech", "FTFT" or the "Company"), a comprehensive financial and digital technology service provider, announced today that on April 15, 2024, its wholly-owned subsidiary, FTFT SuperComputing Inc. ("FTFT SuperComputing"), signed a data mining hosting agreement (the "Agreement") with Tech Solution Inc. ("Tech Solution") which stipulates that FTFT SuperComputing will provide hosting services ...

As we look ahead to the coming year, penny stocks may become increasingly popular among investors. With the risk-free rate set to decrease due to lower interest rates, and many analysts predicting a rise in major indices like the S&P 500 and Nasdaq, the stage could be set for these small-cap investments to flourish. The rate decreases might come a little later than expected, but sooner or later the cracks in the robust U.S. economy will show.Investors may choose to take positions in penny stock companies as ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _________ to _________ Commission File Number 001-34502 Future FinTech Group Inc. (Exact name of registrant as specified in its charter) Florida 98-0222013 (State or other ju ...

If you suffered losses exceeding $25,000 investing in Future FinTech stock or options between March 10, 2020 and January 11, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/FTFT. There is no cost or obligation to you. NEW YORK, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating pot ...