智通财经APP获悉，一家领先的综合性金融及数字技术服务提供商——富册金科(FTFT.US)今天宣布在 董事会授权下正式成立"真实世界资产代币化事业部"（RWA事业部），专责探索公司发行稳定币及旗 下核心资产的代币化的技术路径与合规可行性；以及启动向监管部门申请与稳定币发行及流通相关的合 规许可与监管备案，同时根据RWA资产性质申请所需的合规许可。该举措标志着FTFT正式迈入Web3.0 架构下RWA与稳定币业务融合发展的新阶段。 原区块链事业部总裁许铠先生被任命为RWA事业部总裁，全面统筹RWA事业部战略规划与日常管理工 作。目前，事业部主要工作是推进与美国监管部门沟通申请RWA及稳定币的相关监管许可，探索公司 旗下核心资产或拟收购资产的代币化可行性以及协调公司储备加密资产和数字资产交易业务。 同时任命原富册证券副总裁陈佳担任RWA事业部副总裁，其主要负责与香港监管部门和香港律师的沟 通，在原持有香港第1号与第4号牌照基础上，申请额外虚拟资产相关牌照；并申请虚拟资产交易平台牌 照（VATP）；同时申请第9号资产管理牌照，并计划涵盖传统及虚拟资产管理业务。 FTFT CEO李虎评论道："公司下一步的主要工作是搭 ...

Core Insights - Future FinTech Group Inc. has established a Real-World Asset Tokenization Division to explore stablecoin issuance and asset tokenization under Web3.0 architecture [1] - The division aims to obtain regulatory licenses for stablecoins and tokenized assets while ensuring compliance with relevant authorities [2][3] - The company plans to evaluate potential underlying assets such as gold, Bitcoin, and U.S. Treasury bonds to back its stablecoin and RWA issuance [4] Company Structure and Leadership - Mr. Kai Xu has been appointed as President of the RWA Division, overseeing strategic planning and daily management [2] - Ms. Jia Chen has been appointed Vice President of the RWA Division, focusing on compliance and regulatory communication with Hong Kong authorities [3] - CEO Hu Li emphasized the importance of building a robust technical architecture for stablecoin management and asset valuation [4] Strategic Goals - The RWA Division will lead the design and implementation of on-chain processes for real-world assets, including risk management and trading mechanisms [4] - The company aims to coordinate its reserve crypto assets and digital asset trading business as part of its integrated development strategy [2][4] - Professor Yu Xiong will assist in engaging with regulatory agencies and strategic partners to support the sustainable growth of the stablecoin and RWA businesses [4]

NEW YORK, June 30, 2025 /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 certain changes to its management and Board of Directors.On June 20, 2025, Mr. Ming Yi resigned from his position as the Chief Financial Officer of the Company, Mr. Fuyou Li resigned from his position as the Chairman of the Board and as a member of the Board's audit and comp ...

Business Transformation - The company transformed its business from fruit juice manufacturing to supply chain financing services and trading in China, asset management in Hong Kong, and cryptocurrency mining in the U.S. due to increased production costs and tightened environmental laws in China[142]. - The company sold its ownership in Nice Talent Asset Management Limited for HK$2.4 million (approximately $300,000) in November 2024, exiting the asset management business in Hong Kong[142]. - The company completed the sale of FTFT SuperComputing for a total consideration of $1,973,072.24, including the assumption of obligations totaling $973,072.24 and a cash payment of $1,000,000[149]. - The company sold all interests in multiple subsidiaries for $25,000 through a court-ordered auction in December 2024[150]. - The company dissolved its VIE E-Commerce Tianjin in March 2024 due to minimal revenue generation since 2021[142]. - The company acquired 100% equity interest in Alpha International Securities (Hong Kong) Limited, which holds multiple financial licenses, closing the transaction in November 2023[147]. - The company’s shareholding in Nice Talent Asset Management Limited decreased from 90% to 42.86% due to new share issuances before the sale[145]. - The company attempted to develop cryptocurrency mining operations in Paraguay but dissolved the entity in December 2023 due to failure to execute the business plan[146]. Regulatory and Legal Risks - The company faced legal and operational risks due to regulatory changes in China, which could materially impact its business and financial outlook[143]. - The company is still processing filings with the CSRC for its offerings under the New Overseas Listing Rules, which may subject it to fines for non-compliance[144]. Financial Performance - Total revenue for the three months ended March 31, 2025, was $552,977, a decrease of 18.58% from $679,189 in the same period of 2024[162]. - Supply chain financing/trading revenue increased by 8.16% to $477,792 for the three months ended March 31, 2025, compared to $441,764 in 2024[162]. - Gross profit decreased to $78,618 for the three months ended March 31, 2025, down from $275,094 in the same period of 2024, with a gross margin of 14.22%[166]. - Operating expenses surged to $31,225 for the three months ended March 31, 2025, compared to $2,177 in 2024, reflecting a significant increase in bad debt provision[167]. - Net loss from continuing operations increased to $30.95 million for the three months ended March 31, 2025, up from $3.34 million in 2024[172]. - Gain on disposal of discontinued operations was $28.24 million for the three months ended March 31, 2025[173]. - Cash and restricted cash as of March 31, 2025, totaled $4.44 million, a decrease from $4.77 million as of December 31, 2024[175]. - Net cash used in operating activities increased to $28.84 million for the three months ended March 31, 2025, from $7.39 million in the same period of 2024[177]. - Net cash provided by financing activities was $6,093 for the three months ended March 31, 2025, an increase of $2.47 million compared to cash used in financing activities in 2024[179]. Stock and Shareholder Actions - The Company authorized a 1-for-10 reverse stock split, reducing authorized shares from 60 million to 6 million, effective April 1, 2025[152].

Financial Performance - Future Fintech Group reported a fiscal year-end revenue of $50 million, representing a 20% increase compared to the previous year[10]. - Future Fintech anticipates a 25% increase in customer acquisition through enhanced marketing strategies and partnerships in the upcoming year[10]. - Future Fintech's operational costs are projected to rise by 15% due to inflation and increased regulatory compliance expenses[13]. Business Strategy - The company aims to expand its supply chain financing services in China, targeting a market growth rate of 15% annually[13]. - Future Fintech plans to introduce three new financial technology products in the next fiscal year, aiming for a 10% market penetration within the first year of launch[10]. - The company is exploring potential mergers and acquisitions to enhance its market position and diversify its service offerings[10]. Cybersecurity and Compliance - The company has allocated $5 million for cybersecurity enhancements to mitigate risks associated with increasing cyber threats[13]. - Cybersecurity risks may lead to increasing costs for the company as it seeks to minimize these risks and respond to incidents[18]. - The company is not in compliance with the New Overseas Listing Rules, which may result in sanctions from the China Securities Regulatory Commission[20]. - The company faces uncertainties regarding compliance with the PRC Securities Law, which may affect its ability to conduct offerings and operations[20]. - The Holding Foreign Companies Accountable Act poses regulatory risks that could lead to the delisting of the company's common stock from exchanges[20]. Legal and Regulatory Risks - Future Fintech is currently involved in litigation with FT Global Capital, which could impact its financial condition depending on the outcome[13]. - The company is subject to significant risks, including legal disputes and regulatory proceedings that could adversely affect its financial condition and operations[18]. - The company has been at risk of delisting from the NASDAQ Stock Market in recent years[20]. - Future Fintech's stock has faced delisting risks from NASDAQ, which could significantly affect its market valuation[20]. - The company is authorized to issue blank check preferred stock, which may adversely affect the rights of common stockholders[20]. Market Environment - The supply chain financing service industry in China is rapidly evolving and increasingly competitive, which may impact the company's growth and customer retention[18]. - Changes in China's economic, political, or social conditions could materially affect the company's business and results of operations[18].

Core Viewpoint - Future Fintech Group Inc. is enhancing its Blockchain Business Division to focus on developing new blockchain businesses, including high-performance computing, web3 technology, and artificial intelligence, while continuing to manage existing operations [1][2]. Group 1: Company Updates - The Blockchain Business Division was established in December 2021 to oversee the company's blockchain initiatives and strategic growth [1]. - Mr. Li Hu, CEO, emphasized the company's commitment to digital financial products and services, leveraging AI to impact the web3 industry [3]. - Mr. Kai Xu has been appointed as President of the Blockchain Business Division, with a focus on web3 expansion, while Mr. Weifang Peng will serve as Vice President, concentrating on blockchain computing power and related business development [3]. Group 2: Business Operations - Future Fintech Group Inc. operates in various sectors, including asset management, brokerage, investment banking in Hong Kong, cross-border payments in the UK, and supply chain trading and finance in China [4]. - The company has also initiated digital asset mining farm operations in the United States, aiming to enhance financial services through digital and internet technology [4].

Business Transformation - The company has transformed its business from fruit juice manufacturing to financial technology services, including supply chain financing and asset management [196]. - The company completed the acquisition of Khyber Money Exchange Ltd. for €685,000, which is now named FTFT Finance UK Limited [204]. - The company established Future Trading (Chengdu) Co., Ltd. for bulk commodities supply chain financing services and trading [202]. - The company initiated coal supply chain financing services in Q2 2021, aluminum ingots in Q3 2021, and sand and steel in Q1 2023 [210]. - The company attempted to develop cryptocurrency mining operations in Paraguay but dissolved FTFT Paraguay S.A. in December 2023 due to failure to execute the business plan [203]. - The company has eight directly controlled subsidiaries across various jurisdictions, including DigiPay FinTech Limited and FTFT UK Limited [209]. Financial Performance - Revenue for the three months ended September 30, 2024, decreased to approximately $5.18 million from approximately $23.74 million for the same period in 2023, a decline of 78.20% [230]. - Supply Chain Financing/Trading revenue dropped significantly by 97.85%, from $19.99 million in 2023 to $428,875 in 2024, primarily due to decreased demand in the real estate and infrastructure sectors in China [233]. - Asset Management Service revenues increased by 13.38%, rising from $3.27 million in 2023 to $3.71 million in 2024, attributed to hiring more experienced account managers [231]. - Other revenues increased by 118.75%, from $0.47 million in 2023 to $1.04 million in 2024, mainly due to increased debt recovery consulting service fees and U.S. dollar bond service income [232]. - Overall gross profit increased to $1.51 million for the three months ended September 30, 2024, up from $1.41 million in 2023, with an overall gross margin of 29.25%, an increase of 22.42% from 5.95% [235]. - Total revenue for the nine months ended September 30, 2024, decreased to approximately $14.5 million from approximately $30.82 million for the same period of the last year, a decline of 52.95% [244]. - Asset management service revenue increased by $2.18 million from $9.69 million for the nine months ended September 30, 2023, to $11.88 million for the same period of 2024, representing a growth of 22.54% [245]. - Gross profit increased to $5.06 million for the nine months ended September 30, 2024, from $3.86 million for the same period of 2023, with an overall gross margin of 34.89%, up from 12.51% [248]. Expenses and Losses - General and administrative expenses decreased by 12.45%, from $3.79 million in 2023 to $3.32 million in 2024, mainly due to reduced professional service fees and rental costs [236]. - Bad debt provision increased by $3.37 million in 2024 compared to the same period in 2023, due to changes in accounting treatment methods [237]. - Research and development expenses decreased slightly to $655 in 2024, reflecting a reduction in salaries [238]. - The tax provision decreased by $10,735 for the three months ended September 30, 2024, primarily due to decreased revenue [241]. - General and administrative expenses increased by $0.54 million, or 5.62%, to $10.13 million for the nine months ended September 30, 2024, primarily due to increased professional service fees [249]. - Net loss from continuing operations increased by $4.63 million from $6.07 million for the nine months ended September 30, 2023, to $10.70 million for the same period of 2024 [258]. - Basic and diluted loss per share from continuing operations was $0.53 for the nine months ended September 30, 2024, compared to a loss of $0.40 for the same period of 2023 [260]. Cash Flow and Working Capital - Net cash used in operating activities increased by $6.10 million to $13.52 million for the nine months ended September 30, 2024, from $7.43 million for the same period of the last fiscal year [263]. - Working capital decreased by $10.85 million to $28.29 million as of September 30, 2024, from $39.14 million as of September 30, 2023 [262]. - Net cash provided in financing activities increased by $4.23 million to $1.32 million for the nine months ended September 30, 2024, compared to cash used in financing activities of $2.91 million during the same period of 2023 [265]. Regulatory and Compliance Issues - The company is processing filings with the CSRC for its offerings under the New Overseas Listing Rules, which may subject it to fines for non-compliance [199]. - The company has faced legal and operational risks due to regulatory changes in China, which could materially impact its operations and stock value [198]. - The company completed the deregistration and dissolution of its VIE, E-Commerce Tianjin, on March 7, 2024, due to minimal revenue since 2021 [196]. - The company plans to close down its CCM Shopping Mall business, which generated minimal revenue since 2021, completing deregistration by March 7, 2024 [228].

Business Transition and Acquisitions - The company has transitioned from fruit juice manufacturing to financial technology services, including supply chain financing and cryptocurrency mining[159]. - The company completed the acquisition of Khyber Money Exchange Ltd. for €685,000, which is now named FTFT Finance UK Limited[166]. - The company acquired Alpha International Securities (Hong Kong) Limited, enhancing its financial services capabilities in Hong Kong[167]. - FTFT International Securities and Futures Limited was acquired in November 2023, expanding the company's brokerage and investment banking services in Hong Kong[179]. - FTFT Finance, acquired in September 2022, is a pioneer in UK money remittance services, providing competitive rates and no fees for remittances to Pakistan[180]. Financial Performance - Total revenue for the three months ended June 30, 2024, was $4,202,888, an increase of 12.94% compared to $3,721,250 in the same period of 2023[184]. - Total revenue for the six months ended June 30, 2024, was $9,325,855, an increase of 31.62% from $7,085,700 in the same period of 2023[198]. - Asset management service revenue increased by $536,988, or 16.50%, from $3,255,065 in 2023 to $3,792,053 in 2024[184]. - Asset management service revenue increased by $1,746,794, or 27.22%, from $6,418,129 in 2023 to $8,164,923 in 2024[198]. - Gross profit for the three months ended June 30, 2024, was $1,594,124, up from $1,242,475 in 2023, with an overall gross margin of 37.93%, an increase of 4.54%[188]. - Gross profit for the six months ended June 30, 2024, rose to $3,545,396, up from $2,444,091 in 2023, with a gross margin of 38.02%, an increase of 3.52%[202]. - Net loss from continuing operations increased by $260,000, from $1,540,000 in 2023 to $1,800,000 in 2024, primarily due to increased operating expenses[196]. - Net loss from continuing operations increased by $2,090,000 to $5,770,000 for the six months ended June 30, 2024, compared to $3,680,000 in 2023[211]. Operational Changes and Challenges - The company underwent a 1-for-5 reverse stock split, reducing authorized shares from 300 million to 60 million[168]. - The company dissolved its VIE E-Commerce Tianjin due to minimal revenue generation since 2021, completing the process in March 2024[159][169]. - The company has shifted its business model for its Chain Cloud Mall platform to an "Enterprise Communication as A Service" model, but it has still generated minimal revenue[169]. - The company is in the process of complying with new overseas listing rules, which may subject it to fines for non-compliance[162]. - The company faced significant operational risks due to regulatory changes in China, which could impact its ability to conduct business and accept foreign investments[161][162]. - The company plans to close down its CCM Shopping Mall business, which generated minimal revenue since 2021, completing the deregistration by March 7, 2024[182]. Cash Flow and Expenses - Cash and restricted cash decreased to $9,820,000 as of June 30, 2024, down from $19,020,000 as of December 31, 2023[214]. - Net cash used in operating activities increased by $4,980,000 to $11,940,000 for the six months ended June 30, 2024, from $6,960,000 in 2023[215]. - Net cash provided in financing activities was $2,340,000 for the six months ended June 30, 2024, an increase of $2,360,000 compared to cash used in financing activities of $10,000 in 2023[216]. - General and administrative expenses rose by $970,000, or 39.87%, to $3,387,000 for the three months ended June 30, 2024, compared to $2,422,000 in 2023[190]. - Operating expenses increased to $7,788,000 for the six months ended June 30, 2024, compared to $5,200,000 in 2023, representing an increase of 49.77%[204]. - Research and development expenses decreased to $2,000 for the six months ended June 30, 2024, from $322,000 in 2023, reflecting a significant reduction in spending[206]. Legal Matters - The court awarded FT Global a judgment of $10,598,379.93, which includes $7,895,265.31 in damages, $1,723,114.62 in prejudgment interest, and $980,000.00 in attorney's fees[224]. - The company filed a post-trial motion challenging the judgment, which remains pending before the court[224]. - FT Global has registered the judgment in the Southern District of New York, seeking to compel the company to turn over its stock in subsidiary companies[225]. - A derivative lawsuit was filed against certain officers and directors of Future FinTech, alleging breaches of fiduciary duties and violations of federal securities laws[225]. - The lawsuit includes allegations of stock price manipulation and failures in disclosure practices[225]. - The court has scheduled the trial for January 8, 2024, with a pretrial order deadline extended to December 1, 2023[224]. - The company continues to defend against FT Global's claims and may appeal the judgment to the United States Court of Appeals for the Eleventh Circuit if necessary[224]. - The court denied the company's motion for summary judgment on all claims asserted by FT Global[224]. - The discovery period for the case has been extended multiple times, with the latest extension granted until September 14, 2022[224]. - The company served FT Global with its Initial Disclosures on April 30, 2021, and has engaged in extensive discovery activities since then[224].

Core Viewpoint - Future Fintech Group Inc. has appointed Mr. Hu Li as the new Chief Executive Officer, effective August 5, 2024, succeeding Mr. Shanchun Huang, who resigned for personal reasons [1][3]. Group 1: Leadership Changes - Mr. Hu Li has been with the company for five years and has held various positions, including CEO of FTFT International Securities and Futures Limited and Corporate Secretary [2][3]. - Mr. Li's appointment is expected to enhance the company's international expansion, investment management, and strategic transformation [1][3]. Group 2: Company Background - Future Fintech Group Inc. is a comprehensive financial and digital technology service provider, offering asset management, brokerage, investment banking, and cross-border payment services [4]. - The company is also involved in supply chain trading and finance in China and has initiated digital asset mining operations in the United States [4].

Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against Future FinTech Group Inc. due to a class action complaint alleging breaches of fiduciary duties by the company's board of directors [1] Group 1: Lawsuit Details - The class action complaint was filed on January 16, 2024, covering a Class Period from March 10, 2020, to January 11, 2024 [1] - The lawsuit claims that defendants made materially false and misleading statements, including allegations of stock price manipulation by Defendant Shanchun Huang [2] - It is alleged that Future FinTech understated its legal risks and failed to disclose unlawful measures taken to support its stock price [2] Group 2: Contact Information - Long-term stockholders of Future FinTech are encouraged to contact Bragar Eagel & Squire for more information regarding the claims [3] - The law firm offers assistance without any cost or obligation to the stockholders [3] Group 3: About the Law Firm - Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina, representing investors in various complex litigations [4]