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Future FinTech Signs License Agreement

2017-09-21 21:00
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XI'AN, China, Sept. 21, 2017 /PRNewswire/ -- Future FinTech Group Inc. (NASDAQ: FTFT) ("Future FinTech" or "the Company"), a financial technology company and integrated producer of fruit-related products, today announced that Xi'an Hedetang Nutritious Food Research Institute Co. Ltd. ("Hedetang Research"), a 73.42% owned subsidiary of the Company, and GlobalKey Supply Chain Ltd. ("GlobalKey"), a wholly owned subsidiary of the Company, signed a License Agreement with Shaanxi Entai Bio-Technology Co. Ltd. ("Entai Bio-Technology") to authorize Hedetang Research to be the sole global agent for one of Entai Bio-Technology's key products series, 'IB-LIVE', and GlobalKey to serve as the product's sole global operational platform with responsibility for marketing, sales, publicity and distribution.

"We are pleased to announce this license agreement as it broadens our lighter asset fintech business by utilizing our marketing expertise and distribution channels," said Mr. Hongke Xue, Chief Executive Officer of Future FinTech. "We believe that the agreement is a perfect fit with our strategic plan as it drives entry into a new high margin business by leveraging one of our core competencies while diversifying our revenue stream. This license agreement enables us to act as an agent for an outside party without assuming undue risk or adding to our asset structure, and it represents an important business segment for us in the future," Mr. Hongke Xue concluded.

'IB-LIVE' is a new generation of nutritious and healthy products for improving male sexual health. It has the technical support of Xi'an Botai Pharmaceutical Co., Ltd., a high-tech pharmaceutical company that performs R&D, manufactures and markets pharmaceuticals and provides consulting services, and the guidance of prominent specialists such as Professor Jihong Liang, one of China's top 10 experts in men's sexual health and who is the Vice Chairman of the Male Reproductive Medicine Branch of the China Sexology Association, a National Committee Member of the Andrology Branch of Chinese Medical Association, and a Managing Director of the China Sexology Association. It is also based on the theory of nitric oxide proposed by Dr. Louis Ignarro and Dr. Ferid Murad, co-recipients of the 1998 Nobel Prize winner in physiology or medicine. Their theories led to the development of erectile dysfunction as well as nutritional supplements designed for cardiovascular health and athletic performance. 'IB-LIVE' products are made of highly efficient bioactive peptides extracted using modern bio-engineering technology from a variety of marine organisms such as sea cucumbers and combined with green tea extract, leek seed extract and kiwi fruit seed extract.

The license agreement with Entai Bio-Technology calls for a refundable security deposit by Hedetang Research of RMB five million and a refundable security deposit by GlobalKey of RMB 10 million to secure the purchase rights to 'IB-LIVE' products and retain the substantial potential of this venture. According to the license agreement, revenue for GlobalKey from the sale of 'IB-LIVE' could reach RMB 120 million in the first year of operation. GlobalKey is currently focused on the off-line sales of IB-LIVE products. The Company will utilize its experience and expertise to develop the appropriate market strategy for this product and to crystallize its brand positioning to connect both online and off-line businesses through a vibrant e-commerce platform. The Company is intent upon using a wide variety of modern internet tools and tactics to help boost the visibility of the 'IB-LIVE' brand to achieve strong product sales growth. The sales team of GlobalKey is also preparing for the online sale of 'IB-LIVE' products, negotiating with the WeChat platform and several other e-commerce platforms.

Xi'an Hedetang Nutritious Food Research Institute Co. Ltd. was formerly known as Xi'an Hedetang Fruit Juice Beverages Co., Ltd. On August 10, 2017, the Company changed this subsidiary's name and extended its business scope beyond the functions of the original research center to include R&D, the pilot testing of nutritious foods, new product launches and other activities related to new product development. Hedetang Research participated in the R&D of the 'IB-LIVE' product.

GlobalKey Supply Chain Limited was formerly known as Shaanxi Quangoutong E-commerce Inc. On July 4, 2017, the Company also changed this subsidiary's name, and its current business scope to develop both online and offline sales of fruit juice, nutritious foods, and other fast-moving consumer goods. The entity will expand the sales and scope of the supply chain business, and manage outside parties' products to further promote the development of the fintech supply chain business.

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.

About Future FinTech Group Inc.

Future FinTech Group Inc. ("Future FinTech" or the "Company"), is an agricultural products company that utilizes financial technology solutions to operate and grow its businesses.  The Company is engaged in the production and sales of fruit juice concentrates, fruit beverages, and other fruit related products in China and certain overseas markets. The Company's fruit juice concentrates are sold to domestic customers and exported directly or via distributors. Its fruit juice products, "Hedetang" and "SkyPeople," are healthy and nutritious beverages and sold primarily in China. The Company leverages e-commerce and new technology platforms and is building 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/.

For more information, please contact:


  COMPANY

INVESTOR RELATIONS

     Cindy Liu, Investor Relations Manager

   David Rudnick, Account Manager

     Future FinTech Group Inc.

   Precept Investor Relations LLC

     Tel: China  +86-29-8187-8277

   Tel: US +1-646-694-8538

     Email: skypeople_annie@163.com

   Email: david.rudnick@preceptir.com

     Web: http://www.ftft.top


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Source: Future FinTech Group Inc.

Related stocks: NASDAQ-NMS:FTFT

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