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Discontinued Operations
 6 Months Ended
Jun. 30, 2025
Discontinued Operations [Abstract]  
DISCONTINUED OPERATIONS

18. DISCONTINUED OPERATIONS

 

On March 7, 2024, Chain Cloud Mall Network and Technology (Tianjin) Co., Limited was dissolved and deregistered.

 

On September 4, 2024, Tianjin Future Private Equity Fund Management Partnership (Ltd Partnership) was dissolved and deregistered. The loss on disposal was $22.46.

 

On October 18, 2024, Nice Talent Asset Management Limited (“NTAM”) was disposed of for a consideration of $ 0.31 million (HK$2.40 million). The loss on disposal was $2.32 million.

 

On December 6, 2024, FTFT Super Computing Inc. was disposed of for a consideration of US$1.97 million, of which (i) the assumption of the obligations of FTFT Super Computing totaling $973,072.24 and (ii) $1,000,000 was paid to an account at Olshan Frome Wolosky LLP to satisfy, in part, the right of payment held by FT Global Capital, Inc. arising from the judgment entered in favor of FT Global and against the Company registered in the Southern District of New York. The gain on disposal was $3.42 million.

 

On February 3, 2025, FTFT UK LIMITED, FTFT Finance UK Limited, Future Fintech Digital Number One US, LP, Future Fintech Digital Number One Offshore, LLC(Cayman), Future Fintech Digital Number One GP,LLC (USA), FTFT Digital Number One, Ltd.(Cayman), Future FinTech Labs Inc, Future Fintech Digital Capital, FTFT CAPITAL INVESTMENTS, DigiPay FinTech Limited, DCON DigiPay Limited-JPN and Global Key Shared Mall Ltd were disposed of for a consideration of US$25,000 after a court auction sale. The gain of disposal was $28.24 million.

Loss from discontinued operations for the six months ended June 30, 2025 and 2024 was as follows:

 

   For the
three months ended
June 30,		   For the
six months ended
June 30,		 
   2025   2024   2025   2024 
REVENUES  $
     -
   $3,933,899   $
-
   $8,377,677 
COST OF SALES   
-
    2,597,596    
-
    5,365,196 
GROSS PROFIT   
-
    1,336,303    
-
    3,012,481 
                     
OPERATING EXPENSES:                    
General and administrative   
-
    1,963,481    
-
    4,194,238 
Research and development expenses   
-
    1,729    
-
    2,374 
Selling expenses   
-
    284    
-
    284 
Bad debt provision   
 
    40,911         116,266 
Total   
-
    2,006,405    
-
    4,313,162 
                     
OTHER INCOME (EXPENSE)                    
Interest income   
-
    15,273    
-
    29,207 
Interest expense   
-
    
-
    
-
    (716)
Other expense   
-
    (335,018)   
-
    (345,933)
Total   
-
    (319,745)   
-
    (316,742)
Loss from discontinued operations before income tax   
-
    (989,847)   
-
    (1,617,423)
Income tax provision   
-
    
-
    
-
    
-
 
Loss from discontinued operation before noncontrolling interest  $
-
   $
-
   $
-
   $
-
 
Gain on disposal of discontinued operations   
-
    
-
    28,238,122    645,437 
Less: net income (loss) attributable to non-controlling interests   
-
    (38,033)   1,866,066    (34,454)
INCOME (LOSS) FROM DISCONTINUED OPERATION  $
-
   $(951,814)  $26,372,056   $(937,532)

 

The major components of assets and liabilities related to discontinued operations are summarized below:

 

   June 30,
2025		   December 31,
2024		 
Cash and cash equivalents  $
      -
   $76,876 
Other receivables   
-
    200,269 
Advances to suppliers and other current assets   
-
    30,449 
Property, plant and equipment, net   
-
    134,553 
Right of use assets - operation lease   
-
    154,810 
Total assets related to discontinued operations  $
-
   $596,957 
           
Accrued expenses and other payables  $
-
   $301,807 
Amount due to related Party   
-
    29,036 
Lease liability - operation lease   
-
    154,810 
Total liabilities related to discontinued operations  $
-
   $485,653