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.
Dragon Gate Investment Partners LLC
SOURCE Future FinTech Group Inc.