Next Technology Partners with Shenzhen Qianhai WeTrade

TL;DR

Next Tech inks deal with Shenzhen Qianhai WeTrade for supply chain finance & e-commerce boost.

AI Summary

Next Technology Holding Inc. announced on June 20, 2024, that it has entered into a strategic cooperation agreement with Shenzhen Qianhai WeTrade Technology Co., Ltd. This agreement aims to leverage Shenzhen Qianhai WeTrade's expertise in supply chain finance and cross-border e-commerce to enhance Next Technology's business operations. The collaboration is expected to drive growth and expand market reach for both entities.

Why It Matters

This strategic partnership could significantly boost Next Technology's capabilities in supply chain finance and cross-border e-commerce, potentially leading to increased revenue and market share.

Risk Assessment

Risk Level: medium — The company has a history of name changes and operates from a non-US jurisdiction, which can introduce complexities and potential risks.

Key Players & Entities

• Next Technology Holding Inc. (company) — Filer and party to agreement
• Shenzhen Qianhai WeTrade Technology Co., Ltd. (company) — Cooperating party
• June 20, 2024 (date) — Date of earliest event reported
• Wyoming (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $30,000 — om the Seller at an exercise price of US$30,000 per BTC in batches over a 12-month peri
• $3.75 — Company (the "Common Stock") valued at $3.75 per share, which was the closing market
• $2.6 — ase 80,000,000 shares of the Company at $2.6 per share (valued at 70% of the Then FM

Filing Documents

• ea0208565-8k_next.htm (8-K) — 30KB
• 0001213900-24-056080.txt ( ) — 206KB
• nxtt-20240620.xsd (EX-101.SCH) — 3KB
• nxtt-20240620_lab.xml (EX-101.LAB) — 33KB
• nxtt-20240620_pre.xml (EX-101.PRE) — 22KB
• ea0208565-8k_next_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events Discontinuance of a BTC Transaction under the BTC Trading Contract As previously disclosed in an 8-K filed on September 28, 2023, Next Technology Holding Inc. (formerly known as WeTrade Group Inc.), a Wyoming corporation (the "Company"), entered into a BTC Trading Contract (the "BTC Agreement") with certain seller (the "Seller") pursuant to which the Company agreed to purchase and the Seller agreed to sell certain Bitcoins (" BTC "). The BTC Agreement also granted the Company an option(the "Option") to purchase up to 6,000 BTC from the Seller at an exercise price of US$30,000 per BTC in batches over a 12-month period. Pursuant to the BTC Agreement, the Company agreed to make payment to purchase the BTC either in cash or stock. Subsequently, the Company purchased 833 BTC under the BTC Agreement and decided to exercise the Option to purchase another 5,000 BTC (the "5,000 BTC Purchase"). To reflect the recent price increase in BTC and finalize the transaction details of the 5,000 BTC Purchase, the Company and the Seller entered into an amendment to the BTC Agreement on May 2, 2024 (the "Amendment"), which was previously disclosed in an 8-K filed on May 6, 2024 (the "Amendment 8-K"). According to the Amendment, the Company agreed to pay the aggregate exercise price for the 5,000 BTC by issuing to the Seller (i) 40,000,000 shares of common stock of the Company (the "Common Stock") valued at $3.75 per share, which was the closing market price of the Common Stock as of May 1, 2024 (the "Then FMV"), and (ii) a warrant to purchase 80,000,000 shares of the Company at $2.6 per share (valued at 70% of the Then FMV). In connection with the 5,000 BTC Purchase, the Company filed the Preliminary Information Statement on Schedule 14C on May 8, 2024, which is being reviewed by the SEC. Given the market fluctuations in BTC and based on the discussions and negotiations between the Company and the Seller, the Company has decided not to pursue the 5,000 BTC

Forward Looking Statements

Forward Looking Statements This Current Report on Form 8-K contains "forward-looking likely result," "expect," "anticipate," "estimate," "believe," "intend," "plan," "project," "outlook," "should," "could," "may" or words of similar meaning and include, but are not limited to, statements regarding our future business and financial performance and prospects, including our expectations regarding the transactions described in this Current Report on Form 8-K. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results included in such forward-looking statements. Investors are cautioned not to place undue reliance on the forward-looking statements in this Current Report on Form 8-K, which information set forth herein speaks only as of the date hereof. The Company does not undertake, and it expressly disclaims, any intention or obligation to update any forward-looking statements made in this Current Report on Form 8-K, whether as a result of new information, future events or otherwise, except as required by law. A list and description of risks, uncertainties and other factors that could cause or contribute to differences in the Company's results can be found in its filings with the SEC, including its most recent Annual Report on Form 10-K and subsequent filings. The Company qualifies all of its forward-looking statements by these cautionary statements. 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Next Technology Holding Inc. By: /s/ Weihong LIU Name: WeihongLIU Title: Chief Executive Officer Dated: June 26, 2024 2

View Full Filing

View this 8-K filing on SEC EDGAR