Next Technology Holding Inc. Files Annual Report on Form 10-K

TL;DR

<b>Next Technology Holding Inc. filed its 2023 10-K, revealing its former identity as WeTrade Group Inc. and its status as a non-seasoned issuer.</b>

AI Summary

Next Technology Holding Inc. (NXTT) filed a Annual Report (10-K) with the SEC on April 15, 2024. Next Technology Holding Inc. (formerly WeTrade Group Inc.) filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Wyoming and its principal executive offices are located in Shenzhen, People's Republic of China. The filing indicates the company is not a well-known seasoned issuer and has not filed all reports required in the preceding 12 months. Next Technology Holding Inc. was formerly known as WeTrade Group Inc., with name changes occurring on April 2, 2024, April 1, 2024, and August 8, 2019. The company's common stock is registered pursuant to Section 12(b) of the Act.

Why It Matters

For investors and stakeholders tracking Next Technology Holding Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Next Technology Holding Inc.'s financial performance and operational status for the fiscal year 2023, including its corporate history and structure. The disclosure of its status as not a well-known seasoned issuer and potential past filing issues may impact investor perception and regulatory scrutiny.

Risk Assessment

Risk Level: medium — Next Technology Holding Inc. shows moderate risk based on this filing. The company indicates it has not filed all required reports in the preceding 12 months, suggesting potential past compliance issues that could lead to increased regulatory oversight or penalties.

Analyst Insight

Investors should review the full 10-K for detailed financial statements and risk factors, paying close attention to any disclosures regarding past filing deficiencies.

Key Numbers

• 2023 — Fiscal Year End (The report covers the fiscal year ended December 31, 2023.)
• 20240415 — Filing Date (The 10-K report was filed on April 15, 2024.)
• 001-41450 — SEC File Number (The SEC file number assigned to the registrant.)
• 0001784970 — Central Index Key (The Central Index Key for Next Technology Holding Inc.)

Key Players & Entities

• Next Technology Holding Inc. (company) — Filer name and subject of the 10-K filing.
• WeTrade Group Inc. (company) — Former name of Next Technology Holding Inc.
• December 31, 2023 (date) — Fiscal year end for the reported period.
• 20240415 (date) — Filing date of the 10-K report.
• Wyoming (jurisdiction) — State of incorporation for Next Technology Holding Inc.
• Shenzhen, People's Republic of China (location) — Principal executive offices location.
• 001-41450 (other) — SEC file number.
• 7374 (other) — Standard Industrial Classification code for Services-Computer Processing & Data Preparation.

FAQ

Risk Factors

• Disclosure of Delinquent Filers [medium — regulatory]: The company indicates that disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein and will not be contained in proxy statements.
• Filing Requirements [high — regulatory]: The registrant indicates it has not filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

Key Dates

• 2024-04-15: 10-K Filing — Annual report filed for the fiscal year ended December 31, 2023.
• 2024-04-02: Name Change — Previous name change date from WeTrade Group Inc. to Next Technology Holding Inc.
• 2024-04-01: Name Change — Previous name change date from WeTrade Group Inc. to Next Technology Holding Inc.

Filing Documents

• nxtt_10k.htm (10-K) — 909KB
• ex21-1.htm (EX-21.1) — 6KB
• ex31-1.htm (EX-31.1) — 15KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001099910-24-000189.txt (&nbsp;) — 957KB

Business

Business 4 Item 1A. Risk Factors 24 Item 1B. Unresolved Staff Comments 24 Item 2.

Properties

Properties 25 Item 3. Legal Proceedings 25 Item 4. Mine Safety Disclosures 26 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27 Item 5A. Selected Financial Data 28 Item 6. Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 7. Quantitative and Qualitative Disclosures about Market Risk 33 Item 8. Financial 33 Item 9. Controls and Procedures 33 Item 9A. Other Information 34 PART III Item 10. Directors, Executive Officers and Corporate Governance 35 Item 11. Executive Compensation 41 Item 12. Security 41 Item 13. Certain Relationships and Related Transactions, and Director Independence 44 Item 14. Principal Accountant Fees and Services 44 PART IV Item 15. Exhibits, Financial Statement Schedules 45

SIGNATURES

SIGNATURES 47 FINANCIAL F-1 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). These forward-looking Condition and Results of Operations," "Business" and "Properties" but may be found in other locations as well. These forward-looking statements are subject to risks and uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking We identify forward-looking statements by use of terms such as "may," "will," "expect," "anticipate," "estimate," "hope," "plan," "believe," "predict," "envision," "intend," "will," "continue," "potential," "should," "confident," "could" and similar words and expressions, although some forward-looking statements may be expressed differently. You should be aware that our actual results could differ materially from those contained in the forward-looking statements. Forward-looking and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this report. These factors include, among others: our ability to raise capital; our ability to identify suitable acquisition targets; our ability to successfully execute acquisitions on favorable terms; declines in general economic con

View Full Filing

View this 10-K filing on SEC EDGAR