富册金融科技 2024年度报告

FORM10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember 31,2024 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _________ to _________ Commission File Number001-34502 Future FinTech Group Inc.(Exact name of registrant as specified in its charter) Florida98-0222013(State or other jurisdiction of(I.R.S. Employer (Address of principal executive offices)(Zip Code) Registrant’s Telephone Number:888-622-1218 Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on whichregisteredCommon Stock, $0.001 par valueFTFTNasdaqCapital Market Securities registered pursuant to Section 12(g) of the Act:None(Title of class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in rule 405 of the Securities Act. Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(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 or 15(d) of the SecuritiesExchange 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 for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant 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 not contained herein, and will notbe contained, to the best of Registrant’s knowledge, in definitive proxy statement or information statements incorporated by referencein Part III of this Form 10-K or any amendment 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 reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☒ Accelerated filer☐Smaller reporting company☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant 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 Exchange Act). Yes☐No☒ The aggregate market value of voting and nonvoting stock held by non-affiliates of the registrant, based upon the closing price of$0.48 per share for shares of the registrant’s Common Stock on June 28, 2024, the last business day of the registrant’s most recentlycompleted second fiscal quarter as reported by the NASDAQ Capital Market, was approximately $7.54million. (The Companyeffected a 1 for 10 reverse stock split on April 1, 2025) The number of shares of Common Stock outstanding as of April 11, 2025 was3,050,770. Auditor Firm ID:6901Auditor Name:Fortune CPA, Inc.Auditor Location:California FUTURE FINTECH GROUP INC. PART I1ITEM 1 – BUSINESS1ITEM 1A – RISK FACTORS22ITEM 1B – UNRESOLVED STAFF COMMENTS39ITEM 1C –CYBERSECURITY39ITEM 2 – PROPERTIES40ITEM 3 – LEGAL PROCEEDINGS40ITEM 4 – MINE SAFETY DISCLOSURES41PART II42ITEM 5 – MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS ANDISSUER PURCHASES OF EQUITY SECURITIES42ITEM 6 – [RESERVED]43ITEM 7 – MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS43ITEM 7A – QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK53ITEM 8 – FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA53ITEM 9 – CHANGES I