The encryption company FTFT acquires the Hong Kong and Shenzhen subsidiaries of Alpha Financial Limited

It is reported that Future FinTech Group Inc. (FTFT), a NASDAQ-listed encryption company, announced that its wholly-owned subsidiary FTFT HK has acquired its Hong Kong subsidiary Alpha HK and its Shenzhen subsidiary Alpha SZ through an equity transfer agreement with the Hong Kong licensed company Alpha Financial Limited. The specific amount of the acquisition has not been disclosed. Alpha HK holds the first category of “securities trading”, the second category of “futures contract trading” and the fourth category of “securities consulting” financial licenses issued by the Hong Kong Securities Regulatory Commission. Future FinTech Group Inc. is headquartered in Florida, the United States, and its business covers blockchain online mall, asset management, cryptocurrency mining, remittance, and cryptodata services. （prnewswire）

Interpretation of this information:

In this message, it is reported that Future FinTech Group Inc. has acquired its Hong Kong and Shenzhen subsidiaries through an equity transfer agreement with Alpha Financial Limited, a Hong Kong licensed company. This acquisition has not disclosed the specific amount of the valuation.

Alpha HK owned licenses for security trading, futures contract trading, and securities consulting, which is an important addition to Future FinTech Group’s services. Future FinTech Group is a NASDAQ-listed encryption company headquartered in Florida, United States. It has various business interests in blockchain online mall, asset management, cryptocurrency mining, remittance, and cryptodata services.

From the context, it seems that Future FinTech Group’s acquisition of these subsidiaries was intended to expand its reach in the financial industry. The acquisition of Alpha HK and Alpha SZ provides the company with access to their licenses, which will enable Future FinTech Group to offer a wider range of financial services to its clients.

Furthermore, the acquisition seems to be in line with Future FinTech Group’s overall vision of growing its business in the field of financial technology. The company provides a range of services to its clients that are centered on cryptocurrencies and blockchain technology. With this acquisition, Future FinTech Group could potentially leverage the resources of the Alpha HK and Alpha SZ subsidiaries to further develop its services in this area.

It is interesting to note that the specific amount of the acquisition has not been disclosed. This could be due to a number of reasons, including financial and competitive considerations. It is not uncommon for such details to be withheld from public reporting, and it could be assumed that this is a strategic move by the involved parties.

Overall, this announcement signals Future FinTech Group’s intentions to expand its footprint in the financial industry. The acquisition of Alpha HK and Alpha SZ has provided the company with valuable licenses, which will likely enable it to offer a more comprehensive range of financial services to its clients. It remains to be seen how this acquisition will impact Future FinTech Group’s services, but it is clear that the company is positioning itself to become a major player in the financial technology space.