XI'AN, China, Jan. 4, 2018 /PRNewswire/ -- Future FinTech Group Inc. (NASDAQ: FTFT) ("Future FinTech" "FTFT" or "the Company"), a financial technology company and integrated producer of fruit-related products, today announced that it received a 5% equity interest in Nova Realm Limited ("Nova Realm"), which has been gifted to the company by Mr. Yongke Xue, a Director of Future FinTech. Nova Realm is a blockchain technology research and development company registered in the United Kingdom. Nova Realm developed Nova Realm City ("NRC"), which it believes to be the first-ever blockchain technology value community registered with real name users and delivers asset-based digital services to global blockchain projects and provides a platform for members to communicate and participate in these projects. Mr. Yongke Xue personally acquired 60% of the equity interest of Nova Realm and has generously gifted 5% of which to FTFT.
Mr. Hongke Xue, Chief Executive Officer of Future FinTech, commented, "We are very grateful for the gift from Mr. Yongke Xue and are excited about this new opportunity to further explore our financial technology business which is a core element of our new strategic plan. We view the equity interest as an opportunity to engage the blockchain sector and to grow by leveraging this evolving technology. Our goal is to accelerate the application of blockchain technology and to bring practical blockchain technologies to the lives of real people."
"With my gift of the equity stake, I believe that the Company will be able to access Nova Realm City's technical expertise and knowhow in blockchain cryptography, with the ability to select promising projects for the application of blockchain technology. I believe that Future Fintech will be able to utilize Nova Realm City's technical capabilities with its advantages as a public company to develop blockchain applications which will create a competitive advantage for the Company in the fintech sector," said Mr. Yongke Xue, a Director of Future FinTech.
In recent years, as an Internet database technology, the Company believes that blockchain has become a highly attractive niche in the innovation and application of information technology due to its unique mechanism of securing trust among partners as well as its application in many industries. The Company believes that blockchain technology is just beginning to scale and is currently attracting a high degree of global focus and attention as more and more industries seek to utilize its digital ecology and revolutionary capabilities. The Company believes that the unique features of the Nova Realm City community validates FTFT's equity position in Nova Realm. These include the community's core values of equality, mutual benefit, openness and transparency in terms of its blockchain utilization.
"We believe that blockchain technology is a disruptive technology that will change the way that companies and people interact, and we welcome the challenges and opportunities of this new platform," Mr. Hongke Xue, Chief Executive Officer of Future FinTech concluded.
About Nova Realm Limited
Nova Realm Limited ("Nova Realm") is a blockchain technology research and development company registered in the United Kingdom. Nova Realm developed Nova Realm City ("NRC"), which it believes to be the first-ever blockchain technology value community registered with real name users and which delivers asset-based digital services to global blockchain projects. NRC's mission represents the first interaction community with a real-name registration system in the world.
The operation of the NRC community is ensured through blockchain technology where the legitimate allocation of community funds is safeguarded through multiple signatures and the community's major events are decided through a voting mechanism. For more information, please visit Nova Realm's Chinese website at http://www.nrc.one/.
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech", "FTFT" or the "Company"), is a fintech company that is developing an operational platform to utilize blockchain technology to participate in the shared economy, as well as for the distribution, marketing and sales of various products. The Company's legacy business is the production and sales of fruit juice concentrates, fruit beverages, and other fruit related products in China and certain overseas markets, and FTFT is utilizing fintech solutions to operate and grow this business. The Company is also developing a regional agricultural products commodities market with the goal to become a leader in agricultural finance technology. For more information, please visit http://www.ftft.top/.
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, 2016 and otherwise in our SEC reports and filings, including the final prospectus for our offering. 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.
For more information, please contact:
Cindy Liu, Investor Relations Manager
Future FinTech Group Inc.
Tel: China + 86-29-8187-8277
SOURCE Future FinTech Group Inc.