XML 50 R35.htm IDEA: XBRL DOCUMENT
v3.23.1

Subsequent Events | 12 Months Ended
--- | ---
Dec. 31, 2021
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | 29. SUBSEQUENT EVENTS On March 9, 2022, in order to make full use of the company’s idle funds and improve the income of company funds, it lent US$5 million to Wintus (China) Ltd. for a period of 6 months with an annual interest rate of 10%. On March 9, 2022, in order to incentivize the management team of the supply chain business, stock option incentive plan was set up by Fuce Future Supply Chain (Xi’an) Co., Ltd. Upon meeting the condition for the grant of the first option which is the annual profit before tax of Fuce Future Supply Chain (Xi’an) Co., Ltd. (“Fuce Future”, formerly known as Future Digital Tech (Xi’an) Co., Ltd.) reaching RMB15 million (approximately $2.3 million) during any year before the 5th anniversary of March 9, 2022, Fuce Future will grant its management team an option to purchase up to 6.25 million shares of Fuce Future at an exercise price per share discussed below. Fuce Future currently has a total registered capital of RMB 50 million and is wholly owned by Future FinTech (Hong Kong) Limited (“FTFT HK”), which is a wholly owned subsidiary of the Company. Upon meeting the condition for the grant of the second option which is the annual profit before tax of Fuce Future reaching RMB 30 million (approximately $4.6 million) during any year before the 5th anniversary of March 9, 2022, Fuce Future will grant to its management team an option to purchase up to 8.04 million shares of Fuce Future at an exercise price per share discussed below. The exercise period of these two options is 5 years from the date of grant. And the exercise price of these options is the Fuce Future’s original registered capital price per share for RMB 1 per share plus interest which is original registered capital price per share multiplied by the annualized 8% interest according to the exercise time. On March 9, 2022, Fuce Future rewarded its management team with cash bonus of RMB 223,400 which is approximately 10% of its profit before tax from 2021 and FTFT HK granted an option to management team of Fuce Future to purchase 5 million shares of Fuce Future from FTFT HK for RMB 5 million and the option can be exercised in three years. On March 9,2022 Future Supply (Chengdu) Co., Ltd and Future Big Data (Chengdu) Co., Ltd. rewarded to their respective management teams with cash bonus which is approximately 3% of their respective profits before taxes from 2021.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration