Future FinTech Announces New Subsidiary for Cloud Mall; Shares Slide
Future FinTech Group Inc. (Nasdaq: FTFT), a financial technology company and producer of fruit-related products, announced today that it established a new subsidiary, Chain Cloud Mall Network Technology Ltd. with a new management team.
"We are very pleased to announce the establishment of our new subsidiary -- Chain Cloud Mall Network Technology Ltd.," said Yongke Xue, chief executive officer and chairman of Future FinTech, "It will provide the operation and system technical support for our Chain Cloud Mall to establish a global shared shopping mall of consumption and investment."
The company said the new management of the Chain Cloud Mall Network Technology is:
Zhengjun Mo, chief executive officer. He is in charge of the overall work of the company, as well as the marketing operation in China and greater China.
Yongning Jia, chairman. He is in charge of supporting technical systems for the platform and is in charge of the finance department.
Qiaoping Zheng, vice president. She is responsible for the Chain Cloud Mall marketing.
Shares of Future FInTech closed at 76 cents, down 2 cents per share.
Future FinTech is engaged in the research and development of digital asset systems based on blockchain technology and operates an incubator for application projects using blockchain technology. The company and its subsidiaries are developing blockchain technology and cryptocurrencies for a variety of B2B and B2C applications, including a variety of financial businesses and the distribution, marketing and sale of consumer products.
The company's Chain Cloud Mall is an e-commerce and shared platform of shopping and shared economy.
Alibaba's $13 Billion Secondary Listing Expected This Month
Cheetah Mobile Shares Sink 11% on Weak Revenue
BEST Posts Narrowed Losses, Lowers Full-year Outlook
Noah's Stock Down 5% on Third Quarter Results
Huami Sees Stock Drop Despite Beefy Profits Amid Tariff Uncertainty
Daqo Soars 10% on Polysilicon Sales, Higher Profit