Next Technology Holding Inc
For the period ended Dec 31, 2023. Filed Apr 15, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 15, 2024
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10-K 1 nxtt_10k.htm ANNUAL REPORT
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
| For the fiscal year ended: December 31, 2023 | |
|---|---|
| 001-41450 | |
| ☐ | 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)
(Exact name of registrant as specified in its charter)
| Wyoming | N/A |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number)00-0000000 |
Room 519, 05/f Block T3 Qianhai Premier Finance Centre Unit 2 Guiwan Area, Nanshan District Shenzhen People’s Republic of China
(Address of principal executive offices) (Zip code)
+86 158 2117 2322
(Registrant’s telephone number, including area code) 100020
Securities registered pursuant to Section 12(b) of the Act:
Common Stock, no par value
Securities registered pursuant to Section 12(g) of the Act:
None
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 Securities Exchange 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 if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or an amendment to this form 10-K. Yes ☒ No ☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation 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 large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See definition of “large accelerated filer,” accelerated filer” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act:
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-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 for complying 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 is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐No ☒
As of April 15, 2023, there were 2,625,130 shares of common stock outstanding.
TABLE OF CONTENTS
| Cautionary Note Regarding Forward-Looking Statements | 3 | ||
|---|---|---|---|
| PART I | |||
| Item 1. | Business | 4 | |
| Item 1A. | Risk Factors | 24 | |
| Item 1B. | Unresolved Staff Comments | 24 | |
| Item 2. | Properties | 25 | |
| Item 3. | Legal Proceedings | 25 | |
| Item 4. | Mine Safety Disclosures | 26 | |
| PART II | |||
| Item 5. | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 27 | |
| Item 5A. | Selected Financial Data | 28 | |
| Item 6. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 28 | |
| Item 7. | Quantitative and Qualitative Disclosures about Market Risk | 33 | |
| Item 8. | Financial Statements and Supplementary Data | 33 | |
| Item 9. | Controls and Procedures | 33 | |
| Item 9A. | Other Information | 34 | |
| PART III | |||
| Item 10. | Directors, Executive Officers and Corporate Governance | 35 | |
| Item 11. | Executive Compensation | 41 | |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 41 | |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence | 44 | |
| Item 14. | Principal Accountant Fees and Services | 44 | |
| PART IV | |||
| Item 15. | Exhibits, Financial Statement Schedules | 45 | |
| SIGNATURES | 47 | ||
| FINANCIAL STATEMENTS | F-1 | ||
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