Future FinTech Announces GlobalKey SharedMall Limited Based on Blockchain Technology and Executive Hires

XI'AN, China, March 30, 2018 /PRNewswire/ -- Future FinTech Group Inc. (NASDAQ: FTFT) ("Future FinTech", "FTFT" or "the Company"), a financial technology company, today announced that on March 2, 2018, the Company established GlobalKey SharedMall Limited in the Cayman Islands for the purpose of operating its global shared business services center based on blockchain technology. Also, on March 22, 2018, the Board of Directors of Future Fintech appointed two new executive hires to the Company's management team.

"We are very pleased to establish GlobalKey SharedMall Limited and to announce two key management hires," said Mr. Yongke Xue, Chief Executive Officer of Future FinTech. "Our new subsidiary in the Cayman Islands is an important step towards establishing a global footprint based on blockchain technology, and to apply new ideas and solutions to meet the needs of businesses and consumers. We are confident that our new management hires, who are expert in the vital fields of software engineering, e-commerce and internet finance, will help us to fulfill this vision and enable us to be a preeminent global player in the fintech sector."

As previously announced, on December 18, 2017, GlobalKey Supply Chain Ltd. ("GlobalKey"), a limited liability company incorporated in China and a wholly owned subsidiary of the Company entered into a Technology Development Service Contract with Reits (Beijing) Technology Co. Ltd. ("Reits"), pursuant to which Reits will provide services to GlobalKey relating to the design, development, testing, deployment and maintenance of a blockchain-based globally shared shopping mall and other software systems. It is planned that GlobalKey will provide its operating system to GlobalKey SharedMall.

The establishment of GlobalKey SharedMall officially marks the entry of the Company's development of its shared business services based on blockchain technology into the international market, and it is envisioned that the Company will develop a shopping mall in the mode of the shared economy. With the addition of our professional operating team, the Company plans to optimize business operations and resource allocation in the fintech industry. The Company's goal is to build a global enterprise of shared business services with a standardized, professional, and international shared e-commerce business center.  

The new additions to the Future FinTech management team are as follows:

Dr. Zhijing Xu, Chief Executive Officer of GlobalKey SharedMall

Dr. Xu holds a Bachelor of Space Physics from Wuhan University, a Master of Electrical Engineering from Beijing University of Aeronautics and Astronautics, and a Ph.D. in Electrical Engineering from Syracuse University. Dr. Xu's previous work experience include Computer Scientist at the New York Center for Advanced Research in Software Engineering and Coherent Research Inc. (CRI), Senior Researcher and Technical Director at Bell Labs, General Manager and Chief Technology Officer of Haizhongxin (Beijing) Satellite Communication Co., Ltd., General Manager and Chief Scientist of Haizhongxin Industrial Investment Corporation, and Chief Scientist of Smart Finance at China Institute of Financial Innovation. Dr. Xu has extensive experience in research and development of Internet finance, offline to online (O2O) e-commerce systems, mobile payment networks, wireless communications, artificial intelligence, software engineering, and the Internet of Things.

Dr. Xiaofeng Dai, Chief Technology Officer of Future FinTech

Dr. Dai holds a Master of Economics from Huazhong University of Science and Technology, a Ph.D. in Economics from Wuhan University. Dr. Dai was a Postdoctoral Fellow at the Institute of Finance, Chinese Academy of Social Science, and a Visiting Scholar at the School of Economics, Georgia Institute of Technology. His qualifications and certifications include Qualifications of Securities Practitioners, Qualifications of Fund Practitioners and Project Management Professional Certification. Dr. Dai's previous work experience include Investment Manager of Datang Huayin Electric Power Co., Ltd. (a Shanghai Stock Exchange Listed company, trading symbol: 600744, the earliest public company of China State Power Corporation), Diversified Investment Director of Datang Huayin Electric Power Co., Ltd., Vice President of Beijing Haoyuan Capital Management Co., Ltd., Lecturer of Finance at the University of International Business and Economics, Executive Director of Wuxi Aerospace High Energy Materials Internet Equity Investment Fund, Investment and Financing Consultant at the Research Center of Chinese Academy of Social Sciences, Partner of Beijing Detai Jiufang Asset Management LLC., and Director of Zhongguancun Private Equity Investment Association. Dr. Dai has also participated in various activities such as mergers & acquisitions, private equity / venture capital fund investment, secondary markets investment, real estate, technology, angel and personal investing.

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, 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.

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SOURCE Future FinTech Group Inc.

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