Next Technology Holding Inc.

For the period ended Sep 30, 2025. Filed Oct 8, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 8, 2025

NXTT$4.89+3.8%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Financial Statements

CONDENSED CONSOLIDATED BALANCE SHEETS

	As of September 30, 2025	As of December 31, 2024
(Audited)
ASSETS
Current assets:
Cash and cash equivalents	$12,357,568	$668,387
Digital assets	666,804,429	78,322,430
Accounts receivable, net	69,747	1,800,000
Prepayments and other current assets	306,720	12,125,500
Total current assets	679,538,464	92,916,317
Non-current assets:
Investment in associate company	—	—
Total non-current assets	—	—
Total assets	$679,538,464	$92,916,317
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$—	$730,000
Contract liabilities	3,370,542	—
Amount due to related parties	264,887	972,000
Income tax payable	130,415	130,415
Other payable	2,187,320	1,221,337
Total current liabilities	5,953,164	3,053,752
Non-current liabilities:
Deferred tax liabilities	98,478,710	8,234,503
Total non-current liabilities	98,478,710	8,234,503
Total liabilities	$104,431,874	$11,288,255
Stockholders’ Equity:
Common stock: no par value; 2,865,730 and 34,882 issued and outstanding on September 30, 2025 and December 31, 2024, respectively*	270,890,679	71,718,790
Retained earnings	304,215,911	9,909,272
Total Stockholders’ Equity	$575,106,590	$81,628,062
Total Liabilities and Stockholders’ Equity	$679,538,464	$92,916,317

*	On September 16, 2025, the Company effected a 200-for-1 reverse stock split of its common stock, resulting in the consolidation of every two hundred issued and outstanding shares into one share. The reverse stock split reduced the number of outstanding shares from approximately 566,265,135 to approximately 2,865,730.

CONDENSED CONSOLIDATED STATEMENTS OF

OPERATIONS AND COMPREHENSIVE INCOME(LOSS)

	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2025	2024	2025	2024
Revenue:
Service revenue	$1,788,205	$—	$1,788,205	$—
Total service revenue	1,788,205	—	1,788,205	—
Cost of revenue	(981,356)	—	(981,356)	—
Gross Profit	806,849	—	806,849	—
Operating expenses:
General and administrative expense	(488,975)	(566,983)	(1,194,795)	(1,242,128)
Selling expense	(276,068)	—	(276,068)	—
Share-based compensation expense	(44,367,409)	—	(44,367,409)	—
Total operating expenses	(45,132,452)	(566,983)	(45,838,272)	(1,242,128)
Loss from operations	(44,325,603)	(566,983)	(45,031,423)	(1,242,128)
Other income, net	34,736,876	2,303,789	430,398,332	17,899,568
(Loss) income before income taxes	(9,588,727)	1,736,806	385,366,909	16,657,440
Income tax expenses	(7,303,523)	(364,730)	(90,244,207)	(2,666,078)
Net (loss) income from continuing operation	$(16,892,250)	$1,372,076	$295,122,702	$13,991,362
Net income from discontinued operation(a)	—	6,296	—	6,296
Total comprehensive (loss) income	(16,892,250)	1,378,372	295,122,702	13,997,658
Net (loss) income per share, basic and diluted from continuing operation	$(6.86)	$39.33	$171.85	$517.80
Net comprehensive income per share, basic and diluted from discontinued operation	—	0.18	—	0.23
Weighted-average shares outstanding, basic and diluted*	2,461,018	34,882	1,717,348	27,021

*	On September 16, 2025, the Company effected a 200-for-1 reverse stock split of its common stock, resulting in the consolidation of every two hundred issued and outstanding shares into one share. The reverse stock split reduced the number of outstanding shares from approximately 566,265,135 to approximately 2,865,730.

(a)	In July 2024, the Company dissolved its subsidiary, WeTrade Technology (Shanghai) Co., Ltd. in the PRC, which qualified as a discontinued operation under ASC 205-20. The Company retrospectively adjusted the above comparative statements of change in stockholders’ equity for the three and nine months ended September 30, 2024. (Note 18)

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY

For the Three Months ended September 30, 2025

Common Stock · Additional Paid in · Retained · Total Shareholder
	Shares*	Amount	Capital	Earnings	Equity
Balance as of June 30, 2025	2,181,326	$—	$217,676,957	$321,924,224	$539,601,181
Net loss for the period	—	—	—	(16,892,250)	(16,892,250)
Share-based compensation to advisors	350,000	—	44,367,409	—	44,367,409
Issuance of common shares and pre-funded warrants from securities purchase agreement	300,000	—	8,030,250	—	8,030,250
Common stock issuance from fractional share elimination	34,404	—	816,063	(816,063)	—
Balance as of September 30, 2025	2,865,730	$—	$270,890,679	$304,215,911	$575,106,590

For the Three Months ended September 30, 2024

Common Stock · Additional Paid in · Retained · Total Shareholder
	Shares*	Amount	Capital	Earnings	Equity
Balance as of June 30, 2024	34,882	$—	$71,718,790	$979,012	$72,697,802
Net income for the period	—	—	—	1,372,076	1,372,076
Gain from discontinued operation(a)	—	—	—	6,296	6,296
Balance as of September 30, 2024	34,882	$—	$71,718,790	2,357,384	74,076,174

For the Nine Months ended September 30, 2025

Common Stock · Additional Paid in · Retained · Total Shareholder
	Shares*	Amount	Capital	Earnings	Equity
Balance as of December 31, 2024	34,882	$—	$71,718,790	$9,909,272	$81,628,062
Stock issued for the acquisition of Bitcoin during the period	2,146,444	—	145,958,167	—	145,958,167
Net income for the period	—	—	—	295,122,702	295,122,702
Share-based compensation to advisors	350,000	—	44,367,409	—	44,367,409
Issuance of common shares and pre-funded warrants from securities purchase agreement	300,000	—	8,030,250	—	8,030,250
Common stock issuance from fractional share elimination	34,404	—	816,063	(816,063)	—
Balance as of September 30, 2025	2,865,730	$—	$270,890,679	$304,215,911	$575,106,590

For the Nine Months ended September 30, 2024

Common Stock · Additional Paid in · (Accumulated Deficits)/ Retained · Total Shareholder
	Shares*	Amount	Capital	Earnings	Equity
Balance as of December 31, 2023	13,126	$—	$56,348,650	$(11,640,274)	$44,708,376
Stock issued during the period	21,756	—	15,370,140	—	15,370,140
Net income for the period	—	—	—	13,991,362	13,991,362
Gain from discontinued operation(a)	—	—	—	6,296	6,296
Balance as of September 30, 2024	34,882	$—	$71,718,790	2,357,384	74,076,174

*	On September 16, 2025, the Company effected a 200-for-1 reverse stock split of its common stock, resulting in the consolidation of every two hundred issued and outstanding shares into one share. The reverse stock split reduced the number of outstanding shares from approximately 566,265,135 to approximately 2,865,730.

(a)	In July 2024, the Company dissolved its subsidiary, WeTrade Technology (Shanghai) Co., Ltd. in the PRC, which qualified as a discontinued operation under ASC 205-20. The Company retrospectively adjusted the above comparative statements of change in stockholders’ equity for the three and nine months ended September 30, 2024. (Note 18)

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.**

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	For the Nine Months ended September 30,
	2025		2024(a)
Cash Flows from Operating Activities:
Net income from continuing operation		$295,122,702		$13,991,362
Net income from discontinued operation		—		6,296
Fair value gain on digital assets		(430,398,332)		(17,899,568)
Deferred tax expenses		90,244,207		2,666,078
Share-based compensation expense		44,367,409		—
Changes in Operating Assets and Liabilities:
Accounts receivables		1,730,253		1,000,000
Prepayments and other current assets		(306,720)		—
Accounts payable		(730,000)		(800,000)
Director fee payable		(707,113)		92,000
Contract liabilities		3,370,542		—
Accrued expense and other payable		965,983		943,832
Net cash flows provided by continued operating activities:		3,658,931		—
Net cash flows provided by discontinued operating activities:		—		—
Net cash flows provided by operating activities:		3,658,931		—
Cash flow from Investing activities:
Net cash flows provided by continued investing activities:		—		—
Net cash flows provided by discontinued investing activities:		—		—
Net cash flows provided by investing activities:		—		—
Cash flow from financing activities:
Net proceeds from issuance of common shares and pre-funded warrants from securities purchase agreement		8,030,250		—
Net cash flows provided by continued financing activities		8,030,250		—
Net cash flows provided by discontinued financing activities:		—		—
Net cash flows provided by financing activities:		8,030,250		—
Change in Cash and Cash Equivalents:		11,689,181		—
Cash and Cash Equivalents, Beginning of the Period		668,387		668,387
Cash and Cash Equivalents, End of the Period		$12,357,568		$668,387
Supplemental Cash Flow Information:
Cash paid for interest		$—		$—
Cash paid for income taxes		$—		$—
Supplemental disclosure of non-cash financing activities:
Issuance of common stock to acquire digital assets		$145,958,167		$—
Advance payment for acquisition of digital assets		$12,125,500		$—
Received of operating assets and repayment of liabilities through former executives and other third parties		$1,243,690		$512,808
Repayment of other payable through issuance of common stock		$—		$1,380,000
Repayment of former executives through issuance of common stock		$—		$594,140

(a)	In July 2024, the Company dissolved its subsidiary, WeTrade Technology (Shanghai) Co., Ltd. in the PRC, which qualified as a discontinued operation under ASC 205-20. The Company retrospectively adjusted the above comparative statements of cash flows for the nine months ended September 30, 2024. (Note 18)

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.