XI'AN, China, June 1, 2018 /PRNewswire/ -- Future FinTech Group
Inc. (NASDAQ: FTFT) ("Future FinTech", "FTFT" or "the Company"), a
financial technology company, today announced its strategic
business transformation plan, which will include new business areas
of digital asset system operator and a digital asset application
incubator and accelerator based on blockchain technology.
"Since the Company changed its name to Future FinTech Group Inc.
in June 2017, we have made
significant progress in financial technology areas," said Mr.
Yongke Xue, Chief Executive Officer
and Chairman of Future FinTech. "Based on our existing blockchain
business, our transformation plan will also aim to create a digital asset application
incubator 'Chain World- Digital Space', which provides business
incubation and acceleration services including projects finance,
technology, talent, and marketing services for up-and-coming
blockchain companies."
According to our strategic plan, FTFT expects to generate
business growth in the following aspects:
- Blockchain Incubator- provides business incubation and
acceleration services for blockchain companies
- Self-owned projects- blockchain projects initiated,
participated or controlled by the Company
- Investment and asset management- set up and manage
blockchain investment funds to invest in projects at
seed/angel/cornerstone/private equity stages
- Capital market service- provides financial advisory
services including primary market financing, cryptocurrency
listing, market value management, global roadshows and community
expansion and maintenances for blockchain projects
- Training- provides training on topics including
blockchain 101, blockchain technology and development, marketing,
operation and investment management
- Management Consulting- provides consulting services on
project management, corporate governance, framework design,
operations management, white paper draft, and ICO
After the transformation of the business, the estimated revenue
sources will come from:
- Revenues from the blockchain-based Globally Shared Shopping
Mall and the online sales of fruit juice products and beverages,
and consumer and health-related products through e-commerce.
- Sales of the distressed assets purchased by the Company
- Revenues from bulk agricultural commodities trading center
- Revenues from self-owned blockchain projects, such as payment
processing fees of mBCT digital currency by DCON on NRC blockchain
communities
- Consulting and services fees
- Rent and service fees generated by "Chain World- Digital
Space"
"This transformation plan is a significant step forward to the
blockchain industry. By leveraging our advantages as a
comprehensive platform, we have every resource and confidence to
locate and grow a group of valuable companies in the blockchain
industry," said Mr. Xue.
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech", "FTFT" or the
"Company") is incorporated in Florida and engages in financial
technology. The Company engages in the research and
development of digital asset systems based on blockchain technology
and is also an incubator of application projects related to
blockchain technology. The Company and its subsidiaries are
developing blockchain technology and cryptocurrencies for a variety
of B2B and B2C real-life applications including a variety of
financial businesses and the distribution, marketing and sale of
consumer products. FTFT is also developing an operational platform
utilizing blockchain technology and the shared economy, which
includes an integrated online shopping mall. For more information,
please visit http://www.ftft.top/.
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, 2017 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.
IR Contact:
Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: ftft@dgipl.com
View original
content:http://www.prnewswire.com/news-releases/future-fintech-announces-strategic-transformation-plan-300658151.html
SOURCE Future FinTech Group Inc.