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Business Description
3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
BUSINESS DESCRIPTION

2. BUSINESS DESCRIPTION


Future FinTech Group Inc. (together with our direct or indirect subsidiaries, “we,” “us,” “our” or “the Company”) is a holding company incorporated under the laws of the State of Florida. The main business of the Company includes an online shopping platform, Chain Cloud Mall (CCM), which is based on blockchain technology; a cross-border e-commerce platform (NONOGIRL) which has started its trial operation in March 2020 and is expected for a formal launch in the third quarter of 2020; a blockchain-based application incubator and a digital payment system (DCON); and the application and development of blockchain-based e-commerce technology and financial technology.


Prior to 2019, the Company engaged in the production and sales of fruit juice concentrates, fruit juice beverages and other fruit-related products in the People’s Republic of China (“PRC”, or “China”), and overseas markets. Due to the drastically increased production cost and tightened environmental law in China, the Company has transformed its business from fruit juice manufacturing and distribution to a real-name blockchain e-commerce platform that integrates blockchain and internet technology from the end of 2018. On February 27, 2020 pursuant to a Share Transfer Agreement entered into by the Company’s subsidiary, HeDeTang Holdings (HK) Ltd (“Hedetang HK”), and New Continent International Co., Ltd. on September 18, 2019, the Company sold Hedetang HK and all its subsidiaries, which mainly engaged in fruit juice related business, to New Continent International Co., Ltd.


The Company’s activities are principally conducted by its subsidiaries operating in the PRC.