Next Technology Holding Inc. Faces Delisting Notice
Ticker: NXTT · Form: 8-K · Filed: Jan 10, 2025 · CIK: 1784970
| Field | Detail |
|---|---|
| Company | Next Technology Holding INC. (NXTT) |
| Form Type | 8-K |
| Filed Date | Jan 10, 2025 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, regulatory-filing
TL;DR
Next Tech (formerly WeTrade) got a delisting notice. Big trouble ahead?
AI Summary
Next Technology Holding Inc. (formerly WeTrade Group Inc.) filed an 8-K on January 10, 2025, reporting a notice of delisting or failure to meet continued listing requirements as of January 7, 2025. The company is incorporated in Wyoming and its principal business address is in Shenzhen, China.
Why It Matters
This filing indicates potential delisting from a stock exchange, which could significantly impact the liquidity and valuation of the company's shares.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to investors.
Key Players & Entities
- Next Technology Holding Inc. (company) — Filer
- WeTrade Group Inc. (company) — Former name of filer
- January 7, 2025 (date) — Date of earliest event reported
- January 10, 2025 (date) — Filing date
- 001-41450 (other) — SEC File Number
FAQ
What specific listing rule or standard has Next Technology Holding Inc. failed to satisfy?
The filing does not specify the exact listing rule or standard that Next Technology Holding Inc. has failed to satisfy, only that a notice has been issued.
What is the effective date of the delisting notice?
The earliest event reported is January 7, 2025, which is the date as of which the company is reporting the notice of delisting or failure to satisfy a continued listing rule.
What actions, if any, does the company plan to take in response to this notice?
The provided text of the 8-K filing does not contain information about the company's planned actions in response to the delisting notice.
Has the company previously changed its name?
Yes, Next Technology Holding Inc. was formerly known as WeTrade Group Inc., with a name change date of April 2, 2024. It also had prior name changes from WeTrade Group Inc. in 2019 and 2024.
Where is Next Technology Holding Inc. incorporated and what is its business address?
The company is incorporated in Wyoming (WY) and its business address is RM 519, 05/F, BLOCK T3, QIANHAI PREMIER STREET 2, FINANCE CENTRE UNIT 2, GUIWAN AREA, NANSHAN DISTRICT, SHENZHEN, F4, 518000.
Filing Stats: 985 words · 4 min read · ~3 pages · Grade level 13 · Accepted 2025-01-10 07:17:59
Filing Documents
- ea0227304-8k_nexttech.htm (8-K) — 28KB
- 0001213900-25-002330.txt ( ) — 197KB
- nxtt-20250107.xsd (EX-101.SCH) — 3KB
- nxtt-20250107_lab.xml (EX-101.LAB) — 33KB
- nxtt-20250107_pre.xml (EX-101.PRE) — 22KB
- ea0227304-8k_nexttech_htm.xml (XML) — 4KB
01. Notice of Delisting or Failure to
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 7, 2025, Next Technology Holding Inc (formerly known as WeTrade Group Inc. (the "Company")) received a written notice from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it was not in compliance with the rules for continued listing as set forth in Nasdaq Listing Rules 5620(a) and 5810(c)(2)(G) because the Company has not yet held an annual meeting of stockholders for the fiscal year ended as of December 31, 2023 within 12 months of the year end. The Company has 45 days to submit a plan to regain compliance. If that plan is accepted by Nasdaq, then the Company may be granted an exception of up to 180 calendar days from the fiscal year end, or until June 30, 2025, to regain compliance. The Company intends to submit a compliance plan within the specified period. While the compliance plan is pending, the Company's securities will continue to trade on Nasdaq. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.
Forward-Looking Statements
Forward-Looking Statements The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not a compliance plan with Nasdaq and regaining compliance with the requirements of Listing Rule 5620(a). These statements are based on various assumptions and on the current expectations of the Company's management and are not predictions of actual performance. These forward-looking a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including the risk that the Company is unable to submit a compliance plan to Nasdaq within the specified period, or that the compliance plan is not accepted by Nasdaq, and other documents of the Company filed, or to be filed, with the Securities and Exchange Commission. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that the Compa
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NEXT TECHNOLOGY HOLDING INC. Date: January 10, 2025 By: /s/ Wei Hong Liu Name: Wei Hong Liu Title: Chief Executive Officer 2