PART I. FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Financial statements reflect a significant transformation post-fruit juice business disposal, showing net income from the sale despite continuing operations loss, with going concern uncertainty [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the company's transformation to blockchain e-commerce and fintech, including a **$123.7 million** gain from fruit juice business sale, a new loan, and an SEC investigation - The company has transformed its business from fruit juice manufacturing to a real-name blockchain e-commerce platform (Chain Cloud Mall) and has launched a cross-border e-commerce platform, NONOGIRL[16](index=16&type=chunk)[17](index=17&type=chunk) - On February 27, 2020, the company sold its fruit juice business (HeDeTang HK and its subsidiaries), resulting in a gain on disposal of **$123.69 million**[17](index=17&type=chunk)[68](index=68&type=chunk) - The company entered into a loan agreement to lend up to RMB 35 million (approx. **$5.14 million**) to Shenzhen Tiantian Haodian Technology Co., Ltd. at a **10%** annual interest rate[34](index=34&type=chunk) - On February 21, 2020, the company received a subpoena from the SEC's Division of Enforcement related to its accounting procedures, management oversight, and the sale of HeDeTang holdings, and is cooperating with the investigation[82](index=82&type=chunk)[83](index=83&type=chunk) - The company entered into a Share Exchange Agreement to acquire **90%** of Nice Talent Asset Management Limited, a Hong Kong firm licensed for asset management and advising on securities, pending regulatory approval[86](index=86&type=chunk)[88](index=88&type=chunk) Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | September 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | **Total Current Assets** | $11,620,201 | $100,345,801 | | **Total Assets** | $29,236,513 | $115,980,570 | | **Total Current Liabilities** | $7,618,421 | $202,789,675 | | **Total Liabilities** | $9,284,712 | $204,057,776 | | **Total Stockholders' Equity** | $19,951,801 | $(88,077,206) | Condensed Consolidated Statements of Operations Highlights (Unaudited) | Metric | Three Months Ended Sep 30, 2020 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Revenue | $43,657 | $357,295 | | Loss from Continuing Operations | $(2,473,891) | $(5,211,436) | | Gain on disposal of discontinued operations | $115,947 | $119,582,658 | | **Net Income (Loss)** | **$(2,438,927)** | **$114,230,428** | | Basic Earnings (Loss) per Share | $(0.07) | $3.09 | - The company's ability to continue as a going concern is in doubt due to recurring operating losses and negative operating cash flows, with continuity depending on successfully executing its new business strategy and achieving profitability[26](index=26&type=chunk)[27](index=27&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the strategic shift to blockchain e-commerce and financial services, with COVID-19 impacting revenue, and significant working capital improvement post-discontinued operations - The company is expanding into financial services, including the planned acquisition of Nice Talent Asset Management Limited and a strategic entry into the challenger bank and digital payment sector[104](index=104&type=chunk)[106](index=106&type=chunk) - The COVID-19 pandemic materially and adversely affected business, especially promotion strategies for the CCM Shopping Mall, which relied on in-person meetings and conferences, leading to a sharp decline in sales[95](index=95&type=chunk)[118](index=118&type=chunk)[128](index=128&type=chunk) Revenue Comparison (in thousands) | Period | 2020 | 2019 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Three Months Ended Sep 30** | $44 | $342 | $(298) | (87.1)% | | **Nine Months Ended Sep 30** | $357 | $745 | $(388) | (52.1)% | - For the nine months ended Sep 30, 2020, G&A expenses increased due to **$1.19 million** in stock-related expenses for a consulting agreement, while selling expenses decreased significantly due to lower payroll and shipping costs[146](index=146&type=chunk)[147](index=147&type=chunk) - As of September 30, 2020, working capital was **$4.0 million**, a significant improvement from a deficit of **$102 million** a year prior, mainly due to a decrease in current liabilities after the disposal of the fruit juice business[153](index=153&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section is not applicable for the reporting period - Not applicable[157](index=157&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were ineffective due to a material weakness in accounting personnel, engaging consultants for remediation - The CEO and CFO concluded that disclosure controls and procedures were not effective as of September 30, 2020[157](index=157&type=chunk) - The ineffectiveness was due to a material weakness: a lack of sufficient accounting personnel with appropriate knowledge and training in U.S. GAAP and SEC reporting[157](index=157&type=chunk) - To remediate the weakness, the company has engaged consultants with U.S. GAAP experience to assist with financial statement preparation[158](index=158&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=39&type=section&id=Item%201.%20Legal%20Proceedings) There have been no material developments in the company's ongoing legal proceedings during the three months ended September 30, 2020 - There were no material developments in the company's legal proceedings during the third quarter of 2020[161](index=161&type=chunk) - Previously disclosed legal cases related to the sold subsidiary HeDengTang HK are no longer a liability for the company[93](index=93&type=chunk) [Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) This section is not applicable for the reporting period - Not applicable[161](index=161&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=39&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities or use of proceeds for the period - None[161](index=161&type=chunk) [Defaults upon Senior Securities](index=39&type=section&id=Item%203.%20Defaults%20upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[161](index=161&type=chunk) [Mine Safety Disclosure](index=39&type=section&id=Item%204.%20Mine%20Safety%20Disclosure) This section is not applicable to the company - Not applicable[162](index=162&type=chunk) [Other Information](index=39&type=section&id=Item%205.%20Other%20Information) The company reported no other information for the period - None[162](index=162&type=chunk) [Exhibits](index=39&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including officer certifications and XBRL data files - The exhibits include certifications from the Principal Executive Officer and Principal Financial Officer pursuant to Rule 13a-14(a) and Section 906 of the Sarbanes-Oxley Act, as well as XBRL data files[162](index=162&type=chunk)

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, 2020 ☐ 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 (State or o ...

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 March 31, 2020 ☐ 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-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 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 jur ...

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, 2019 ☐ 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) | --- | |------------------------------- ...

PART I. FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the period ended June 30, 2019 [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) The company reports a net loss of $3.62 million for H1 2019 and a significant improvement in operating cash flow Consolidated Balance Sheet Highlights (Unaudited) | Account | June 30, 2019 ($) | December 31, 2018 ($) | | :--- | :--- | :--- | | **Total Current Assets** | 20,425,563 | 24,164,227 | | **Total Assets** | 66,279,267 | 62,946,609 | | **Total Current Liabilities** | 110,142,196 | 117,173,578 | | **Total Liabilities** | 142,496,650 | 149,624,445 | | **Total Stockholders' Equity (Deficit)** | (76,217,383) | (86,677,836) | Consolidated Statements of Operations Highlights (Unaudited) | Metric | Three Months Ended June 30, 2019 ($) | Six Months Ended June 30, 2019 ($) | | :--- | :--- | :--- | | Revenue | 279,710 | 475,005 | | Gross Profit | 133,108 | 186,083 | | Loss from Operations | (1,939,244) | (3,311,365) | | Net Loss | (2,078,043) | (3,624,472) | | Net Loss Attributable to Future FinTech | (1,695,725) | (2,918,509) | | Basic and Diluted Loss Per Share | (0.05) | (0.09) | Consolidated Cash Flow Highlights (Unaudited) | Cash Flow Activity | Six Months Ended June 30, 2019 ($) | Six Months Ended June 30, 2018 ($) | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | 253,669 | (5,209,610) | | Net cash used in investing activities | 0 | (1,902) | | Net cash provided by financing activities | 503,818 | 155,952 | | **Net (Decrease) Increase in Cash** | **2,310** | **(4,192,649)** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the business transformation to a blockchain e-commerce platform and disclose numerous legal proceedings - The company is transforming its business from fruit juice manufacturing to a real-name blockchain e-commerce platform, **Chain Cloud Mall (CCM)**, due to increased production costs and tightened environmental laws in China[14](index=14&type=chunk) - CCM v1.0 was launched on January 22, 2019, and an enhanced version, **CCM v2.0**, was launched on June 1, 2019, featuring more product categories, a better user interface, and higher security[15](index=15&type=chunk)[16](index=16&type=chunk) - To comply with Chinese law regarding foreign ownership in e-commerce, the company established a **Variable Interest Entity (VIE)** structure for its Chain Cloud Mall E-commerce (Tianjin) Co, Ltd subsidiary[54](index=54&type=chunk)[55](index=55&type=chunk)[56](index=56&type=chunk) - The company's Huludao Wonder operation, which produced concentrated apple juice, has been classified as a **discontinued operation** since December 2016 due to sustained losses[116](index=116&type=chunk) - The company is involved in numerous litigation and enforcement proceedings, primarily concerning **unpaid loans, guarantees, and lease agreements** with various banks and creditors[130](index=130&type=chunk)[131](index=131&type=chunk)[132](index=132&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=35&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section discusses the strategic shift to blockchain e-commerce, analyzing revenue declines and liquidity constraints [Overview of Our Business](index=36&type=section&id=Overview%20of%20Our%20Business) The company is transitioning to the Chain Cloud Mall (CCM) platform, which generates revenue from membership fees and sales - The company formally launched its blockchain shared shopping mall, **Chain Cloud Mall (CCM) v1.0**, on January 22, 2019, and upgraded to v2.0 on June 1, 2019[168](index=168&type=chunk)[169](index=169&type=chunk) - The CCM platform grew from approximately 164 users at the end of 2018 to **4,014 users** by June 30, 2019[173](index=173&type=chunk) - From its trial period to August 31, 2019, the CCM platform generated approximately **$1.24 million in proceeds** from membership fees and merchandise sales, with 5,977 members[179](index=179&type=chunk) [Results of Operations](index=39&type=section&id=Results%20of%20Operations) Financial results show a 65% year-over-year revenue decline due to the strategic shift away from the fruit juice business Revenue by Segment - Three Months Ended June 30 (in thousands) | Segment | 2019 ($) | 2018 ($) | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Fruit related products | 23 | 758 | (735) | -97% | | CCM Shopping Mall Membership | 109 | 0 | 109 | 100% | | Sales of goods | 148 | 0 | 148 | 100% | | **Total** | **280** | **788** | **(508)** | **-65%** | Revenue by Segment - Six Months Ended June 30 (in thousands) | Segment | 2019 ($) | 2018 ($) | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Fruit related products | 44 | 1,259 | (1,215) | -97% | | CCM Shopping Mall Membership | 131 | 0 | 131 | 100% | | Sales of goods | 286 | 0 | 286 | 100% | | **Total** | **475** | **1,350** | **(875)** | **-65%** | - General and administrative expenses for the six months ended June 30, 2019, **decreased by 42% to $2.90 million**, primarily due to lower depreciation and amortization expenses[211](index=211&type=chunk)[212](index=212&type=chunk) [Liquidity and Capital Resources](index=46&type=section&id=Liquidity%20and%20Capital%20Resources) The company reports cash of $0.26 million and a negative working capital of $90 million as of June 30, 2019 - Cash and cash equivalents stood at **$0.26 million** as of June 30, 2019[218](index=218&type=chunk) - Working capital was **negative $90 million** as of June 30, 2019, a decrease of $32 million from the negative $58 million reported as of June 30, 2018[219](index=219&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This item is not applicable for the reporting period - This section is not applicable for the reporting period[221](index=221&type=chunk) [Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of the end of the reporting period - Based on an evaluation as of June 30, 2019, the CEO and CFO concluded that the company's **disclosure controls and procedures were effective**[222](index=222&type=chunk) - No changes occurred during the quarter that materially affected, or are reasonably likely to materially affect, the company's **internal control over financial reporting**[223](index=223&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) This section details numerous ongoing legal proceedings and enforcement actions related to loan defaults and guarantees - The company's subsidiary, SkyPeople China, is involved in multiple enforcement actions for unpaid loans, including **RMB 30 million** from Beijing Bank and **RMB 43.9 million** from China Construction Bank[225](index=225&type=chunk)[226](index=226&type=chunk)[227](index=227&type=chunk) - China Cinda Asset Management filed enforcement proceedings for alleged defaults on guarantees totaling approximately **$5.8 million**[229](index=229&type=chunk)[232](index=232&type=chunk) - Cinda Capital Financing filed two lawsuits for unpaid leasing fees totaling approximately **$7.27 million** and **$12.35 million**, respectively[234](index=234&type=chunk)[235](index=235&type=chunk) - A lawsuit brought by a former consultant seeking damages and 2% of the company's shares was **dismissed by the District Court of Connecticut**, but the decision is under appeal[247](index=247&type=chunk) [Risk Factors](index=53&type=section&id=Item%201A.%20Risk%20Factors) This item is not applicable for the reporting period - This section is not applicable for the reporting period[249](index=249&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=53&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities or use of proceeds were reported during the period - None reported for the period[249](index=249&type=chunk) [Defaults upon Senior Securities](index=53&type=section&id=Item%203.%20Defaults%20upon%20Senior%20Securities) No defaults upon senior securities were reported during the period - None reported for the period[249](index=249&type=chunk) [Mine Safety Disclosure](index=53&type=section&id=Item%204.%20Mine%20Safety%20Disclosure) This item is not applicable for the reporting period - This section is not applicable[249](index=249&type=chunk) [Other Information](index=53&type=section&id=Item%205.%20Other%20Information) No other information was reported for the period - None reported for the period[249](index=249&type=chunk) [Exhibits](index=53&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including CEO/CFO certifications and XBRL interactive data files - Exhibits filed include CEO and CFO certifications and XBRL data files[249](index=249&type=chunk)

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 March 31, 2019 ☐ 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-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 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) Emerging growth company ☐ If an emergi ...