XI'AN, China, Sept. 28, 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 on September 24, 2017, a signing ceremony of
'IB-LIVE' provincial agents by GlobalKey Supply Chain Ltd.
("GlobalKey Supply Chain"), a wholly owned subsidiary of the
Company, was held at the Ramada
Plaza in Xi'an,
Shaanxi Province, China. GlobalKey Supply Chain had previously
signed a License Agreement with Shaanxi Entai Bio-Technology Co.
Ltd. ("Entai Bio-Technology") to serve as the sole global general
distributor and operational platform for 'IB-LIVE' with
responsibility for marketing, sales, publicity and distribution.
'IB-LIVE' is a new generation of nutritious and healthy products
for improving male sexual health.
"Today's signing ceremony launched the official commencement of
marketing activities for this new and exciting health product,"
said Mr. Hongke Xue, Chief Executive Officer of Future FinTech.
"The agreement with Entai Bio-Technology is an ideal strategic fit
with the company's transformation into a lighter asset fintech
business and potentially offers excellent long-term profitability
that we can extend into other product areas. The enthusiasm
generated by today's ceremony is reflective of the confidence we
have in our fintech and marketing capabilities as well as the
spirit of the new sales team that will make this venture a
success."
To date, GlobalKey Supply Chain has signed agreements with
agents from 20 provinces and
major provincial level cities, including Beijing, Chongqing, Tianjin, Shaanxi and Guangdong. The contracts signed signify
revenue of approximately RMB 10
million payable to the Company by September 30, 2017. Based upon the more favorable
unit price for the products to be paid by these agents, the Company
newly estimates that sales of the 'IB-LIVE' product could reach
RMB 30 million in the fourth quarter
of 2017 and approximately RMB 200
million in fiscal 2018.
GlobalKey Supply Chain has established a multilayered support
platform for provincial agents to ensure their success and is also
developing an online sales platform to access distributors to
integrate with the efforts of the agents. GlobalKey Supply Chain
also plans to provide extensive training for the provincial and
prefecture-level city agents semiannually who can develop
additional agents to cover more customers. GlobalKey Supply Chain
will also provide training for provincial agents and new
prefecture-level city agents each quarter, and will provide
training and guidance for provincial agents each month. In
addition, GlobalKey Supply Chain will provide sample products of
'IB-LIVE' to help agents develop and grow their businesses.
GlobalKey Supply Chain plans to leverage various online
marketing channels to execute its marketing program and implement
its online strategies including the WeChat platform, and e-commerce
and online direct selling systems. GlobalKey Supply Chain is planning to
rapidly expand the market for 'IB-LIVE' products at the provincial
level and engage in an extensive roll-out throughout China. GlobalKey Supply Chain also plans to
establish cross-border marketing and e-commerce systems for
'IB-LIVE', and will assess strategic cooperation agreements with
other entities who can work with
'IB-LIVE' agents to ensure the success of 'IB-LIVE' products.
In addition to its efforts with 'IB-LIVE', the Company plans
upon integrating its online and offline marketing channels, and to
undertake integrated marketing for its core fruit juice business as
well as to explore conducting supply chain management for other
products. The Company believes that these steps will further the
Company's strategic transformation from a heavy asset to a lighter
asset business, create fintech opportunities and help to generate
high margin profitability.
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:
COMPANY
Cindy Liu,
Investor Relations Manager
Future FinTech Group Inc.
Tel: China + 86 -
29-8187-8277
Email: skypeople_annie@163.com
Web: http://www.ftft.top
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SOURCE Future FinTech Group Inc.