Risk Factors Update Summary
- The company completed acquisitions of a money transfer company in the UK and a brokerage and investment banking firm in Hong Kong in 2023.
- The company shifted its business focus from fruit juice manufacturing to financial technology services.
- The number of full-time employees decreased from 80 to 66, and part-time employees decreased from 25 to 3.
- The company acquired Alpha International Securities and Futures Ltd., expanding its financial services.
- The company's president now beneficially owns 652 shares, up from 602 shares, representing 18% of outstanding common stock.
- The company completed the deregistration and dissolution of a VIE, impacting its revenue streams.
- The company started a coal supply chain financing service and trading business in 2021.
- The company's asset management business contributed 59% of revenues in 2023, down from 78.75% in 2021.
- The company transitioned from a member-based to a sale agent-based e-commerce platform.
- The company's subsidiary, FTFT Finance, has over 500,000 customers and operates in the remittance market.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1066923&owner=exclude
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