富册金融科技 2023年度报告

FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the Transition Period from _________ to _________ Commission File Number 001-34502 Future FinTech Group Inc.(Exact name of registrant as specified in its charter) Florida98-0222013(State or other jurisdiction of(I.R.S. Employer incorporation or organization) Americas Tower, 1177 Avenue of The AmericasSuite 5100, New York, NY10036 (Address of principal executive offices)(Zip Code) Registrant’s Telephone Number:888-622-1218 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange onwhich registered Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in rule 405 of theSecurities Act. Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section15(d) of the Act. Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements forthe past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data Filerequired to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during thepreceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is notcontained herein, and will not be contained, to the best of Registrant’s knowledge, in definitive proxystatement or information statements incorporated by reference in Part III of this Form 10-K or anyamendment to this Form 10-K. Yes☐No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “largeaccelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” inRule 12b-2 of the Exchange Act. Large acceleratedfiler☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuantto Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’sassessment of the effectiveness of its internal control over financial reporting under Section 404(b) of theSarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued itsaudit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether thefinancial statements of the registrant included in the filing reflect the correction of an error to previouslyissued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recoveryanalysis of incentive-based compensation received by any of the registrant’s executive officers during therelevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the ExchangeAct). Yes☐No☒ The aggregate market value of voting and nonvoting stock held by non-affiliates of the registrant, basedupon the closing price of $1.30 per share for shares of the registrant’s Common Stock on June 30, 2023, thelast business day of the registrant’s most recently completed second fiscal quarter as reported by theNASDAQ Capital Market, was approximately $15.3 million. The number of shares of Common Stock outstanding as of April 12, 2024 was 19,985,410. FUTURE FINTECH GROUP INC. PART I1ITEM 1 – BUSINESS1ITEM 1A – RISK FACTORS23ITEM 1B – UNRESOLVED STAFF COMMENTS42ITEM 1C – CYBERSECURITY42ITEM 2 – PROPERTIES43ITEM 3 – LEGAL PROCEEDINGS43ITEM 4 – MINE SAFETY DISCLOSURES44PART II45ITEM 5 – MARKET FOR REGISTRANT’S COMMON EQUITY, RELATEDSTOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES45ITEM 6 – [RESERVED]45ITEM 7 – MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS46ITEM 7A – QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKETRISK55ITEM 8 – FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA55ITEM 9 – CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ONACCOUNTING AND FINANCIAL DISCLOSURE55ITEM 9A – CONTROLS AND PROCEDURES55ITEM 9B – OTHER INFORMATION56ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENTINSPECTIONS.56PART III57ITEM 10 – DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVE