XI'AN, China, Sept. 21, 2017 /PRNewswire/ -- Future FinTech
Group Inc. (NASDAQ: FTFT) ("Future
FinTech" or "the Company"), a financial technology company and
integrated producer of fruit-related products, today announced that
Xi'an Hedetang Nutritious Food Research Institute Co. Ltd.
("Hedetang Research"), a 73.42%
owned subsidiary of the Company, and GlobalKey Supply Chain Ltd.
("GlobalKey"), a wholly owned subsidiary of the Company, signed a
License Agreement with Shaanxi Entai Bio-Technology Co. Ltd.
("Entai Bio-Technology") to authorize Hedetang Research to be the
sole global agent for one of Entai Bio-Technology's key products
series, 'IB-LIVE', and GlobalKey to
serve as the product's sole global operational platform with
responsibility for marketing, sales, publicity and
distribution.
"We are pleased to announce this license agreement as it
broadens our lighter asset fintech business by utilizing our
marketing expertise and distribution channels," said Mr. Hongke
Xue, Chief Executive Officer of Future FinTech. "We believe that
the agreement is a perfect fit with our strategic plan as it drives
entry into a new high margin business by leveraging one of our core
competencies while diversifying our revenue stream. This license
agreement enables us to act as an agent for an outside party
without assuming undue risk or adding to our asset structure, and
it represents an important business segment for us in the future,"
Mr. Hongke Xue concluded.
'IB-LIVE' is a new generation of nutritious and healthy products
for improving male sexual health. It has the technical support of
Xi'an Botai Pharmaceutical Co., Ltd., a high-tech pharmaceutical
company that performs R&D, manufactures and markets
pharmaceuticals and provides consulting services, and the guidance
of prominent specialists such as Professor Jihong
Liang, one of China's top
10 experts in men's sexual health and who is the Vice Chairman of the Male Reproductive Medicine Branch of the China
Sexology Association, a National Committee Member of the Andrology
Branch of Chinese Medical Association, and a Managing Director of
the China Sexology Association. It is also based on the
theory of nitric oxide proposed by Dr. Louis Ignarro and Dr. Ferid Murad, co-recipients of the 1998 Nobel
Prize winner in physiology or medicine. Their theories led to the
development of erectile dysfunction as well as nutritional
supplements designed for cardiovascular health and athletic
performance. 'IB-LIVE' products are made of highly efficient
bioactive peptides extracted using modern bio-engineering
technology from a variety of marine organisms such as sea cucumbers
and combined with green tea extract, leek seed extract and kiwi
fruit seed extract.
The license agreement with Entai Bio-Technology calls for a
refundable security deposit by
Hedetang Research of RMB five million
and a refundable security deposit
by GlobalKey of RMB 10 million to
secure the purchase rights to 'IB-LIVE' products and retain the
substantial potential of this venture. According to the license
agreement, revenue for GlobalKey from the sale of 'IB-LIVE' could
reach RMB 120 million in the first
year of operation. GlobalKey is currently
focused on the off-line sales of IB-LIVE products. The
Company will utilize its experience and expertise to develop the
appropriate market strategy for this product and to crystallize its
brand positioning to connect both online and off-line businesses
through a vibrant e-commerce platform. The Company is intent upon
using a wide variety of modern internet tools and tactics to help
boost the visibility of the 'IB-LIVE' brand to achieve strong
product sales growth. The sales team of GlobalKey is also preparing for the online sale of
'IB-LIVE' products, negotiating with the WeChat platform and
several other e-commerce platforms.
Xi'an Hedetang Nutritious Food Research Institute Co. Ltd. was
formerly known as Xi'an Hedetang Fruit Juice Beverages Co., Ltd. On
August 10, 2017, the Company changed
this subsidiary's name and extended its business scope beyond the
functions of the original research center to include R&D, the
pilot testing of nutritious foods, new product launches and other
activities related to new product development. Hedetang Research
participated in the R&D of the 'IB-LIVE' product.
GlobalKey Supply Chain Limited was formerly known as Shaanxi
Quangoutong E-commerce Inc. On July 4,
2017, the Company also changed this subsidiary's name, and
its current business scope to develop both online and offline sales
of fruit juice, nutritious foods, and other fast-moving consumer
goods. The entity will expand the sales and scope of the supply
chain business, and manage outside parties' products to further
promote the development of the fintech supply chain business.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended, or the
Exchange Act. Forward-looking statements include statements with
respect to our beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond our control, and which may cause
the actual results, performance, capital, ownership or achievements
of the Company to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements. All statements other than statements of
historical fact are statements that could be forward-looking
statements. You can identify these forward-looking statements
through our use of words such as "may," "will," "anticipate,"
"assume," "should," "indicate," "would," "believe," "contemplate,"
"expect," "estimate," "continue," "plan," "point to," "project,"
"could," "intend," "target" and other similar words and expressions
of the future.
All written or oral forward-looking statements attributable
to us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 10-K for the
year ended December 31, 2016 and
otherwise in our SEC reports and filings, including the final
prospectus for our offering. Such reports are available upon
request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not undertake to
update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech" or the "Company"),
is an agricultural products company that utilizes financial
technology solutions to operate and grow its businesses. The
Company is engaged in the production and sales of fruit juice
concentrates, fruit beverages, and other fruit related products in
China and certain overseas
markets. The Company's fruit juice concentrates are sold to
domestic customers and exported directly or via distributors. Its
fruit juice products, "Hedetang" and "SkyPeople," are healthy and
nutritious beverages and sold primarily in China. The Company leverages e-commerce and
new technology platforms and is building a regional agricultural
products commodities market with the goal to become a leader in
agricultural finance technology. For more information, please visit
http://www.ftft.top/.
For more
information, please contact:
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COMPANY
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INVESTOR
RELATIONS
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Cindy Liu, Investor
Relations Manager
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David
Rudnick, Account Manager
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Future FinTech Group
Inc.
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Precept
Investor Relations LLC
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Tel: China
+86-29-8187-8277
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Tel: US
+1-646-694-8538
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Email:
skypeople_annie@163.com
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Email:
david.rudnick@preceptir.com
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Web:
http://www.ftft.top
|
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SOURCE Future FinTech Group Inc.