Benzinga | Jul 16, 2020 07:55AM EDT

Future Fintech Announces The Acquisition Of Hong Kong Junxian Asset Management Company

Future Financial Technology Group, a leading blockchain e-commerce and financial technology company (NASDAQ:FTFT) (hereinafter referred to as "Future Financial Technology" , "FTFT" or "the company" announced today that following the press release issued on March 26, 2020, the company has signed a "Stock Exchange Agreement" with Hong Kong Lefeng Enterprise Co., Ltd. ("Hong Kong Lefeng") (below (Referred to as "agreement"), acquiring 90% of the outstanding shares of Hong Kong Junxian Asset Management Co., Ltd. (hereinafter referred to as "Hong Kong Junxian Assets") from Lefeng Hong Kong. Hong Kong Junxian Assets is an asset management company committed to achieving high reliability, absolute returns and multi-dimensional portfolio management in Hong Kong. It has category 4 "Securities Consulting" issued by the Hong Kong Securities and Futures Commission (SFC) and Class 9 "asset management" financial license; its current partners include major international banks; the team members include former senior executives of HSBC Bank and Hong Kong certified public accountants, and have extensive experience in asset management, investment banking and extensive contacts.