NEW
YORK, Sept. 8, 2022 /PRNewswire/ -- Future
FinTech Group Inc. (NASDAQ: FTFT) ("hereinafter referred to as
"Future FinTech", "FTFT" or "the Company"), a blockchain
application technology developer and a fintech service provider,
announced today that on September 1,
2022, Future FinTech (Hong
Kong) Limited, a wholly owned subsidiary of the Company
("FTFT HK"), signed a Memorandum of Understanding for Equity
Acquisition (the "MOU") to acquire Alpha International Securities
(Hong Kong) Ltd. ("Alpha
Securities") from Alpha Financial Limited, a firm based in
Hong Kong. The purchase price and
acquisition terms of the acquisition are to be determined pending
due diligence and a financial audit of Alpha Securities by FTFT HK,
with a formal acquisition agreement to be executed within 60 days
after the parties are satisfied with the results of the due
diligence and a mutual agreement as to the terms of the
acquisition. The MOU stipulates that for a period of two months,
Alpha Financial Limited will not engage in activities with any
other party pursuant to the sale of Alpha Securities. The MOU
represents terms for a proposed transaction subject to definitive
documentation and is non-binding except for its 'Confidentiality
and Exclusivity' and 'Governing Law and Dispute Resolution'
sections.
Steven Xiang, General Manager of
Alpha Securities, stated, "Alpha
Securities mainly focuses on three financial services sectors: (1)
online brokerage services consisting of Hong Kong equities as well as US equities,
where we work with our partner, a US brokerage firm, (2) the
underwriting and distribution of securities for Hong Kong IPOs, and
(3) the underwriting of US dollar-based bonds issued by Chinese
municipal cities and companies in Hong
Kong. We hold Type 1 'Securities Trading', Type 2 'Futures
Contract Trading' and Type 4 'Securities Consulting' financial
licenses issued by the Hong Kong Securities and Futures
Commission."
Mr. Xiang continued, "The Alpha Securities management team has
substantial international financial markets experience and our
principal team members are from well-known financial institutions.
We have over 30,000 customer accounts and have underwritten 29 IPOs
in Hong Kong since July 2020. In terms of our offshore China US
dollar bond issuance, we underwrote approximately US$1.34 billion for nine municipal investment
funds and enterprises."
"Alpha Securities is committed to providing customers with a
full range of financial services in Hong
Kong including online brokerage services, IPOs, rights
issuances for listed companies, financial advisory services and US
dollar-based Chinese municipal and enterprise bond issuance
services among our other services," Alpha Securities' Mr. Xiang
concluded.
Shanchun Huang, Chief Executive
Officer of Future FinTech, commented, "We believe that this
potential acquisition will be synergistic with Nice Talent Asset
Management Limited ("NTAM"), our 90%-owned asset management
subsidiary also based in Hong
Kong, as well as other financial services businesses that we
are developing. We believe that Alpha Securities could also play an
important role in our continued transformation as we
internationalize and diversify our business and income flows. Our
objective is to become a
diversified fintech enterprise that optimizes current opportunities
and integrates them into a comprehensive and strategic business
platform."
About Future FinTech Group Inc.
Future FinTech Group Inc. is a blockchain application technology
developer and fintech service provider incorporated
in Florida. The Company's operations include a
blockchain-based online shopping mall platform, Chain Cloud Mall
("CCM"), supply chain financing services, asset management,
and cryptocurrency market data services. The Company is also
engaged in the development of blockchain based e-Commerce
technology and cryptocurrency mining, cryptocurrency investment
management as well as financial service technology and business.
For more information, please visit http://www.ftft.com/.
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, 2021 and our other reports and
filings with SEC. 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.
IR Contact:
Future FinTech Group Inc.
Tel: +1-888-622-1218
Email: ir@ftft.com
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SOURCE Future FinTech Group Inc.