Core Points - WeTrade has launched the Trading Blitz Race 2025, a live trading competition with a total prize pool of $200,000 [1][3] - The competition runs from May 1 to July 31, 2025, with the grand champion receiving $100,000 and weekly prizes of $2,000 for highest weekly profit and largest trading volume [3][4] - A new feature this year is free real-time copy trading, allowing non-participating traders to follow the top 20 traders' strategies without fees [4][7] Company Overview - WeTrade is a globally recognized financial broker founded in 2015, known for its innovative online trading services and commitment to excellence [9] - The company offers ultra-low spreads, flexible leverage options, and strong capital security, earning awards such as Most Trusted Broker and Best Loyalty Program Broker [9] - WeTrade plans to expand its competition series and educational initiatives to empower more traders in global markets [8]

Bitcoin Holdings and Strategy - As of December 31, 2024, the Company has accumulated Bitcoin holdings valued at $78,322,430, with a fair value gain of $53,332,430 since the original cost basis of $24,990,000[20]. - The Company purchased Bitcoin worth $24,990,000 during the year, resulting in a total of 833 Bitcoin held[20]. - The fair value of the Company's Bitcoin holdings increased by $10,147,576 from December 31, 2022, to December 31, 2023[20]. - The Company plans to continue its strategy of acquiring Bitcoin using liquid assets exceeding working capital requirements and may engage in capital raising transactions to fund additional purchases[17]. - The Company views its Bitcoin holdings as trading assets and has not set a specific target for the amount of Bitcoin to hold, indicating a flexible approach based on market conditions[18]. - The Company may periodically sell Bitcoin for corporate purposes, including treasury management and tax benefit strategies[19]. - The company holds substantially all of its Bitcoin in custody accounts at institutional-grade custodians, with a strategy to acquire Bitcoin using liquid assets exceeding working capital requirements[60]. - The company entered into an Amended BTC Trading Contract to purchase up to 5,167 BTC at US$30,000 per BTC over a 12-month period, indicating a strategic move to expand its digital asset holdings[197]. Regulatory Environment - The regulatory environment in Hong Kong currently does not impose significant restrictions on the Company's operations, but future changes in PRC laws could impact its business[21]. - The Company is not currently required to obtain regulatory approvals from PRC authorities for its operations in Hong Kong, but future changes in regulations could pose risks[31]. - The evolving regulatory landscape for digital assets may affect the Company's operations, as different jurisdictions have varying approaches to the legality and regulation of Bitcoin and other digital assets[35]. - The company's business operations are not currently impacted by the cryptocurrency restrictions imposed by the Chinese government[42]. - The People's Bank of China has issued multiple notices emphasizing that Bitcoin is a virtual commodity and prohibiting financial institutions from providing Bitcoin-related services[43][44]. - The most recent regulatory measure from the People's Bank of China bans overseas cryptocurrency exchanges from providing services to residents in mainland China[45]. - The U.S. federal government is actively considering regulatory measures for digital assets, including the potential creation of a U.S. CBDC[49]. - The European Union's Markets in Crypto Assets Regulation became effective in June 2023, with various requirements phasing into effect through 2024[50]. - The SEC has filed complaints against major cryptocurrency exchanges, alleging violations related to the operation of unregistered securities exchanges[50]. - Binance Holdings Ltd. agreed to pay $4.3 billion in penalties to resolve a multi-year investigation by U.S. regulatory agencies[50]. - The SEC is evaluating the definition of "exchange" to encompass trading systems for digital asset securities, which could significantly impact digital asset trading venues[49]. - The U.S. Treasury Department's Office of Foreign Assets Control has updated advisories regarding the use of virtual currencies and has engaged in enforcement actions against digital asset exchanges[41]. - Future changes in business strategies could expose the company to evolving PRC Crypto Restrictions, potentially impacting operations[48]. Financial Performance - For the fiscal year ended December 31, 2024, total revenue was $1.80 million, a decrease of 28% from $2.50 million in 2023[173]. - Gross profit for 2024 was $1.07 million, down from $1.43 million in 2023, reflecting a decline in service revenue[172]. - General and administrative expenses decreased significantly to $1.09 million in 2024 from $2.67 million in 2023, a reduction of approximately 59%[175]. - Other income surged to $43.19 million in 2024, compared to $4.39 million in 2023, primarily due to Bitcoin value appreciation[177]. - The company reported a net income from continuing operations of $21.54 million for 2024, a substantial increase from $3.02 million in 2023[172]. - An impairment of long-term investment of $13.40 million was recognized in 2024 following the acquisition of 20% of an associate company[176]. - Total assets as of December 31, 2024, amounted to US$92.92 million, up from US$48.93 million in 2023, with digital assets increasing from US$35.14 million to US$78.32 million[182][183]. - The company reported total liabilities of US$11.29 million in 2024, compared to US$4.22 million in 2023, with deferred tax liabilities of US$8.24 million[182][183]. - Cash and cash equivalents remained stable at US$668,387 for both 2024 and 2023, despite fluctuations in cash flows from operating activities[184]. - The company had net cash flows used in continued operating activities of US$0 in 2024, a recovery from US$12.70 million in 2023[184][186]. - Cash flows used in continued investing activities were nil in 2024, contrasting with US$37.12 million in 2023, primarily due to significant Bitcoin acquisitions[188]. - The total stockholders' equity increased to US$81.63 million in 2024 from US$44.71 million in 2023, reflecting strong financial growth[182][183]. Corporate Governance and Legal Matters - The Company remains under the control of its current board of directors, consisting of Lichen Dong (Chairman), Tian Yang, Mahesh Thapaliya, and Jianbo Sun[82]. - On April 8, 2024, the Chancery Court dismissed the plaintiffs' case with prejudice, allowing the Company to reserve its right to seek fees[82]. - The Company faced a new lawsuit on September 6, 2024, in the Wyoming State District Court, seeking inspection of certain corporate records[83]. - The Company opposed a motion for preliminary injunction filed on December 9, 2024, asserting it was without merit[84]. - The Company moved to dismiss a case in the NY Court on September 9, 2024, citing unauthorized guarantees as null and void[85]. - The company has not declared or paid any dividends to shareholders as of the date of the annual report, and there are no current cash management policies in place[53]. - The company has not made any distributions of dividends or assets among the holding company or subsidiaries as of the date of the annual report[53]. - The company is subject to the Holding Foreign Company Accountable Act, which could lead to delisting if its auditor cannot be inspected for two consecutive years[51]. - A temporary restraining order was granted on November 7, 2023, to prevent unauthorized individuals from claiming to act on behalf of the company[133]. - A derivative lawsuit was filed on September 28, 2023, but was dismissed without prejudice on October 18, 2023[131]. Employee and Operational Matters - The company currently has 6 full-time employees across various functions, including 2 in technology and 2 in the financial department[73]. - The company has not formed any employee union or association and maintains a good working relationship with its employees[74]. - The company has complied with local regulations regarding social security and employee insurance[113]. - The company has established procedures for managing cybersecurity risks, including regular risk assessments and employee training[125]. - The company has not identified any significant cybersecurity risks that could materially affect its business strategy or financial condition[127]. - Inflation has not materially affected the company's business or operational results[190]. - No changes in internal control over financial reporting that materially affected the company during the most recently completed fiscal quarter[209]. Taxation - The Enterprise Income Tax rate for resident enterprises is set at 25%[104]. - The VAT rate for taxpayers selling goods is 17%, with specific rates for other services[106]. - The applicable VAT rate for the company is currently 6%, and the income tax rate is 25%[107]. - The company is eligible for receiving tax refunds according to certain favorable government policies starting from 2021[107]. - The Hong Kong profits tax is imposed at rates of 8.25% on assessable profits up to HKD 2,000,000 and 16.5% on profits over HKD 2,000,000[120]. - The Hong Kong stamp duty is currently charged at an ad valorem rate of 0.1% on the higher of the consideration or market value of shares, totaling 0.2% for a typical transaction[121]. Management Experience - Weihong Liu, the CEO, has over 10 years of experience in investment and research in crypto assets and blockchain technology[214]. - Nan Ding, the COO, has over 24 years of operational management experience in cross-border investment and international trade[215].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ NEXT TECHNOLOGY HOLDINGS INC (Exact name of small business issuer as specified in its charter) Wyoming (State or other jurisdiction of in ...

Financial Performance - The company reported a net loss from continuing operations of $6,916,679 for the three months ended June 30, 2024, compared to a loss of $166,294 for the same period in 2023[14]. - As of June 30, 2024, the company reported a net profit of $12,629,816, a significant improvement compared to a net loss of $302,775 for the same period in 2023[21]. - Basic and diluted net profit per share was $3.52 for the period ended June 30, 2024, compared to a loss of $0.29 in the same period of 2023[51]. Assets and Liabilities - Total current assets increased to $64,657,906 as of June 30, 2024, compared to $49,064,580 at the end of 2023, representing a growth of approximately 32%[9]. - Total liabilities remained stable at $5,934,111 as of June 30, 2024, compared to $4,350,496 at the end of 2023, indicating a slight increase in financial obligations[9]. - Stockholders' equity rose to $72,119,795 as of June 30, 2024, up from $44,714,084 at the end of 2023, reflecting an increase of approximately 61%[9]. - The company held cash in bank amounting to $668,387 as of June 30, 2024[57]. - Accounts receivables stood at $1,130,665 as of June 30, 2024, slightly down from $1,133,117 at the end of 2023[62]. Digital Assets - The company anticipates continued growth in digital assets, which amounted to $50,733,354 as of June 30, 2024, up from $35,137,576[9]. - The company's digital assets had a carrying value of approximately $50,733,354 as of June 30, 2024, up from $35,137,576 at December 31, 2023[34]. - The gain on digital assets during the period was $15,595,778, compared to a gain of $10,147,576 for the previous year[34]. - Digital assets holdings increased to $50,733,354 as of June 30, 2024, up from $35,137,576 at the end of 2023, with a gain of $15,595,778 recognized in the first half of 2024[60]. - The company held approximately 833.19 bitcoins as of June 30, 2024, consistent with the previous reporting period[34]. Shareholder Information - The company issued 4,351,280 common shares during the period, increasing total shares outstanding to 6,976,410[16]. - The weighted-average common shares outstanding increased to 3,590,757 for the period ended June 30, 2024, up from 1,054,530 in the prior year[51]. - The amount due to shareholders was $607,197 as of June 30, 2024, reflecting advances and professional expenses paid on behalf of shareholders[67]. - The company has issued a total of 6,976,410 shares with no par value as of June 30, 2024, following various share issuances and a reverse stock split[76]. Operational Insights - The company experienced a significant other income of $15,595,778 for the six months ended June 30, 2024, compared to a loss of $8,423,620 in the previous period[14]. - The company reported net cash flows used in operating activities of $(529) for the six months ended June 30, 2024, compared to $(648,252) for the same period in 2023[21]. - Future strategies include exploring new manufacturing partnerships and expanding market presence, although specific numerical targets were not disclosed[4]. - The company provides AI-enabled software development services, focusing on various SaaS solutions for businesses[24]. - The company plans to continue its strategy of acquiring bitcoin with liquid assets exceeding working capital requirements[25]. - The company has not set a specific target for the amount of bitcoin it seeks to hold, indicating a flexible approach based on market conditions[25]. Regulatory and Market Context - The RMB to USD exchange rate was 7.22 as of June 30, 2024, compared to 7.09 as of December 31, 2023[38]. - The company is subject to U.S. Federal tax laws and has not recognized an income tax benefit for its operating losses in the United States due to the expectation of not commencing active operations there[77]. - The company is classified as a "smaller reporting company" under Regulation S-K, thus not required to disclose certain market risk information[96].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ NEXT TECHNOLOGY HOLDINGS INC (Exact name of small business issuer as specified in its charter) Wyoming (State or other jurisdiction of incorp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ NEXT TECHNOLOGY HOLDING INC (FORMERLY KNOWN AS WETRADE GROUP INC) | --- | --- | |----------------------------------------------------------------- ...

WeTrade (NASDAQ:WETG) stock is falling on Monday after the technical services and solutions company announced plans to change its name and the ticker for its shares.WeTrade reveals in a filing with the Securities and Exchange Commission (SEC) that it has secured approval from a majority of shareholders for this change. The company notes that this will see it change its name from WeTrade to Next Technology.To go along with this name change is a ticker change for shares of WETG stock. The company says that it ...

Core Viewpoint - WeTrade Group Inc. and Beijing YueShang Digital Technology Group Co., Ltd. have jointly declared that the announcement regarding the sale of their companies is false, and they will pursue legal action against WeTrade Group Inc. for economic compensation [1] Group 1: WeTrade Information Technology Limited - WeTrade Information Technology Limited is a technology research and development company focused on the WTPay business of WeTrade Group Inc., with its core product VCard covering 15 countries globally [2] - The company is also a significant partner in Ping An Bank's financial business [2] Group 2: Beijing YueShang Digital Technology Group Co., Ltd. - Beijing YueShang Digital Technology Group Co., Ltd. operates in various sectors including YCloud, Y-Health, and YG [3][4] - YCloud provides a micro business cloud intelligent system aimed at enhancing user marketing relationships and profit management through advanced technology and big data analysis, leading in the domestic micro commerce industry [3] - Y-Health focuses on global public health, particularly in testing, epidemic prevention, daily health, and traditional Chinese medicine, with investments in Jiqing Biotechnology and partnerships with several healthcare companies [4] - YG offers tools and technical support for the digital new energy industry in the Middle East and Central Asia, collaborating with multiple domestic new energy enterprises [4]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ WETRADE GROUP INC (Exact name of small business issuer as specified in its charter) Wyoming (State or other jurisdiction of incorporation ...

Financial Performance - Net income from continuing operations for the three months ended June 30, 2023, was $26,079, compared to a loss of $452,139 for the same period in 2022[11]. - Total service revenue for the three months ended June 30, 2023, was $603,343, down from $1,451,459 in the same period last year, representing a decline of approximately 58.4%[11]. - Operating expenses for the three months ended June 30, 2023, were $822,220, compared to $1,827,438 for the same period in 2022, a decrease of about 55.1%[11]. - The company reported a gross loss of $94,582 for the three months ended June 30, 2023, compared to a gross profit of $1,355,510 in the same period last year[11]. - Total comprehensive loss for the three months ended June 30, 2023, was $(637,193), compared to a loss of $(1,365,792) for the same period in 2022[11]. - As of June 30, 2023, the net loss from operations was $958,761, compared to a net profit of $140,177 for the same period in 2022[21]. - The company reported a net loss of $926,518 for the six months ended June 30, 2023, compared to a net income of $274,871 in the same period of 2022[118]. - Total revenue for the six-month period ended June 30, 2023, was $603,343, a decrease of approximately 83.2% from $3,590,411 in the same period of 2022[120]. Assets and Liabilities - Total current assets decreased from $34,215,145 to $30,741,321, a decline of approximately 13.5%[10]. - Total liabilities decreased from $4,509,731 to $3,541,531, a reduction of about 21.5%[10]. - Total assets decreased from $46,229,241 to $42,421,096, a decline of approximately 8.7%[10]. - Accumulated deficits increased from $(1,714,110) to $(3,917,104) over the six months ended June 30, 2023[10]. - The total cash and cash equivalents at the end of the period were $20,004,914, a decrease from $20,025,480 at the beginning of the period[21]. - Loan receivables increased significantly to $7,220,242 as of June 30, 2023, compared to $1,614,841 as of December 31, 2022[87]. - Cash on hand as of June 30, 2023, was $20,004,914, primarily due to the uplisting to the Nasdaq and a public offering that generated net proceeds of $37,057,176[130]. Revenue and Expenses - The company incurred a cost of revenue of $1,005,089 for the six months ended June 30, 2023, compared to $768,587 in 2022, indicating an increase in expenses related to system development[119]. - General and administrative expenses decreased to $1,501,985 for the six months ended June 30, 2023, from $2,619,894 in 2022, a reduction of approximately 42.5%[123]. - Service revenue from non-related parties was $566,813 for the six months ended June 30, 2023, down from $3,302,074 in 2022, reflecting a decline of about 82.8%[120]. YCloud System and Market Strategy - The market for individual micro-business owners is projected to reach 330 million users by the end of 2023[24]. - The YCloud system integrates multiple payment methods, allowing micro-businesses to manage transactions through platforms like Alipay and WeChat[27]. - The company aims to establish global strategic cooperation with various social media platforms through the YCloud system[24]. - The YCloud system provides AI-driven recommendations and management tools to enhance user experience and operational efficiency[30]. - The company has established trial operations in Hong Kong, expanding its market presence beyond mainland China[24]. - The total order amount processed through the YCloud system is directly entered into the platform for fund collection, enhancing financial management for users[27]. - The company plans to shift its SAAS, blockchain, and WT Pay services from the PRC to overseas markets in 2023[120]. Internal Controls and Compliance - The company conducted an evaluation of its internal control over financial reporting as of June 30, 2023, and concluded that it did not maintain effective internal control due to material weaknesses identified[138]. - Management identified material weaknesses related to internal audit functions and lack of segregation of duties within accounting functions[139]. - The company believes that its financial statements and other information presented are materially correct despite the identified weaknesses[138]. - There were no changes in internal control over financial reporting that materially affected the company's controls during the most recently completed fiscal quarter[142]. - Management plans to implement procedures to assure proper transaction initiation, asset custody, and transaction recording by separate individuals[140]. Stock and Share Information - The total issued and outstanding shares of the company's common stock decreased from 195,057,503 to 1,054,364 shares following a 1 for 185 Reverse Stock Split approved on June 9, 2023[146]. - The Reverse Stock Split aims to help the company regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share[147]. - The weighted-average common shares outstanding decreased to 172,526,771 from 231,052,498 year-over-year[62]. Accounting Policies - The company applies ASC 606 for revenue recognition, which involves a five-step model for recognizing revenue[39]. - The company has adopted ASU 2016-02 for leases, requiring recognition of operating and financing lease liabilities on the balance sheet[53]. - The company does not anticipate any material impact from recently issued accounting pronouncements that are not yet effective[135].