Future FinTech Group Inc. Files 2023 Annual Report on Form 10-K
Ticker: FTFT · Form: 10-K · Filed: Apr 16, 2024 · CIK: 1066923
Sentiment: neutral
Topics: 10-K, Annual Report, Future FinTech Group, FTFT, SEC Filing
TL;DR
<b>Future FinTech Group Inc. has filed its 2023 annual report on Form 10-K, confirming compliance with SEC filing requirements.</b>
AI Summary
Future FinTech Group Inc. (FTFT) filed a Annual Report (10-K) with the SEC on April 16, 2024. Future FinTech Group Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is registered in Florida and its principal executive offices are located in New York, NY. Its common stock trades under the symbol FTFT on the Nasdaq Capital Market. The filing indicates the company has submitted all required reports for the preceding 12 months and the past 90 days. Future FinTech Group Inc. has submitted all Interactive Data Files required by Rule 405 of Regulation S-T.
Why It Matters
For investors and stakeholders tracking Future FinTech Group Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of the company's financial performance, operations, and risk factors for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks.
Risk Assessment
Risk Level: low — Future FinTech Group Inc. shows low risk based on this filing. The risk is low as the filing is a standard annual report (10-K) and does not indicate any immediate financial distress or significant new risks based on the provided header information.
Analyst Insight
Review the full 10-K filing to understand Future FinTech Group Inc.'s financial performance, operational details, and risk factors for fiscal year 2023.
Key Numbers
- 2023 — Fiscal Year End (Fiscal year ended December 31, 2023)
- 1231 — Fiscal Year End (Fiscal year end date)
- 001-34502 — Commission File Number (SEC file number for the registrant)
- 98-0222013 — IRS Number (Registrant's IRS Employer Identification Number)
- 10036 — ZIP Code (ZIP code for business and mail address)
- 888-622-1218 — Business Phone (Registrant's telephone number)
- 20240416 — Filing Date (Date the filing was made)
Key Players & Entities
- Future FinTech Group Inc. (company) — Filer name
- FTFT (company) — Trading symbol
- Nasdaq Capital Market (company) — Exchange where common stock is registered
- Florida (company) — State of incorporation
- New York (company) — Location of principal executive offices
- SkyPeople Fruit Juice, Inc (company) — Former company name
- ENTECH ENVIRONMENTAL TECHNOLOGIES INC (company) — Former company name
- CYBER PUBLIC RELATIONS INC (company) — Former company name
FAQ
When did Future FinTech Group Inc. file this 10-K?
Future FinTech Group Inc. filed this Annual Report (10-K) with the SEC on April 16, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Future FinTech Group Inc. (FTFT).
Where can I read the original 10-K filing from Future FinTech Group Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Future FinTech Group Inc..
What are the key takeaways from Future FinTech Group Inc.'s 10-K?
Future FinTech Group Inc. filed this 10-K on April 16, 2024. Key takeaways: Future FinTech Group Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023.. The company is registered in Florida and its principal executive offices are located in New York, NY.. Its common stock trades under the symbol FTFT on the Nasdaq Capital Market..
Is Future FinTech Group Inc. a risky investment based on this filing?
Based on this 10-K, Future FinTech Group Inc. presents a relatively low-risk profile. The risk is low as the filing is a standard annual report (10-K) and does not indicate any immediate financial distress or significant new risks based on the provided header information.
What should investors do after reading Future FinTech Group Inc.'s 10-K?
Review the full 10-K filing to understand Future FinTech Group Inc.'s financial performance, operational details, and risk factors for fiscal year 2023. The overall sentiment from this filing is neutral.
Key Dates
- 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
- 2024-04-16: Filing Date — Date the Form 10-K was officially filed with the SEC.
Filing Stats: 4,556 words · 18 min read · ~15 pages · Grade level 19.7 · Accepted 2024-04-16 12:10:38
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 par value FTFT Nasdaq Capital Market
- $1.30 — strant, based upon the closing price of $1.30 per share for shares of the registrant'
Filing Documents
- ea0203312-10k_future.htm (10-K) — 1602KB
- ea020331201ex4-3_future.htm (EX-4.3) — 11KB
- ea020331201ex14-1_future.htm (EX-14.1) — 86KB
- ea020331201ex19-1_future.htm (EX-19.1) — 42KB
- ea020331201ex21-1_future.htm (EX-21.1) — 12KB
- ea020331201ex23-1_future.htm (EX-23.1) — 3KB
- ea020331201ex23-2_future.htm (EX-23.2) — 2KB
- ea020331201ex31-1_future.htm (EX-31.1) — 12KB
- ea020331201ex31-2_future.htm (EX-31.2) — 12KB
- ea020331201ex32-1_future.htm (EX-32.1) — 4KB
- ea020331201ex32-2_future.htm (EX-32.2) — 4KB
- ea020331201ex97-1_future.htm (EX-97.1) — 30KB
- image_001.jpg (GRAPHIC) — 114KB
- image_002.jpg (GRAPHIC) — 1KB
- image_003.jpg (GRAPHIC) — 1KB
- image_004.jpg (GRAPHIC) — 4KB
- ex14-1_001.jpg (GRAPHIC) — 29KB
- ex19-1_001.jpg (GRAPHIC) — 24KB
- 0001213900-24-033265.txt ( ) — 9883KB
- ftft-20231231.xsd (EX-101.SCH) — 102KB
- ftft-20231231_cal.xml (EX-101.CAL) — 80KB
- ftft-20231231_def.xml (EX-101.DEF) — 467KB
- ftft-20231231_lab.xml (EX-101.LAB) — 805KB
- ftft-20231231_pre.xml (EX-101.PRE) — 466KB
- ea0203312-10k_future_htm.xml (XML) — 992KB
– BUSINESS
ITEM 1 – BUSINESS Overview Future FinTech is a holding company incorporated under the laws of the State of Florida. The Company historically engaged in the production and sale of fruit juice concentrates (including fruit purees and fruit juices), fruit beverages (including fruit juice beverages and fruit cider beverages) in the PRC. Due to drastically increased production costs and tightened environmental laws in China, the Company had transformed its business from fruit juice manufacturing and distribution to financial technology related service businesses. The main business of the Company includes supply chain financing services and trading in China, asset management business in Hong Kong and cross-border money transfer service in UK. The Company also expanded into brokerage and investment banking business in Hong Kong and cryptocurrency mining farm in the U.S. The Company had a contractual arrangements with a VIE E-Commerce Tianjin in China, which has generated minimal revenue and business since 2021 due to the negative impact caused by COVID-19. The Company started the process to close it down in November 2023 and completed deregistration and dissolution of the VIE with local authority on March 7, 2024. There are legal and operational risks associated with being based in and having a substantial majority of operations in China and Hong Kong. These risks could result in a material change in our operations and/or the value of our common stock or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of our shares to significantly decline or be worthless. In the past few years, the PRC government initiated a series of regulatory actions and statements to regulate business operations in China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision over China-based companies listed overseas using variable interest entity