Future FinTech Group Inc. (FTFT): Business Model Canvas [Dec-2025 Updated]

You're digging into the current strategy of Future FinTech Group Inc. (FTFT) as we hit late 2025, and honestly, the story here is a massive pivot. Forget the old diversified model; the numbers show a clear break, with a $\mathbf{\$28.24}$ million gain on disposal of discontinued operations for the nine months ending September 2025, signaling a sharp shift away from legacy revenue streams like the $\mathbf{\$1.2}$ million in FMCG sales seen in Q3 2025. Now, the whole game is about digital assets, Web3 platforms, and using AI analytics like MaxQuant for their Hong Kong-licensed securities trading. I've mapped out exactly how they plan to make money-from RWA platforms to mining income-so you can see the new structure clearly below.

Future FinTech Group Inc. (FTFT) - Canvas Business Model: Key Partnerships

You're looking at the core relationships Future FinTech Group Inc. (FTFT) is building to execute its pivot into digital assets and advanced technology as of late 2025. These alliances are critical for bridging their traditional financial services background with the Web3 space.

The company's overall financial backdrop shows significant transition, with a reported revenue of $2.37 million in the last twelve months, alongside a negative EBITDA of $62.9 million over the same period.

Here's a breakdown of the key strategic alliances:

• HHEX for Web3 and Real-World Asset (RWA) platform development: The strategic cooperation agreement was signed on October 6, 2025. This partnership aims to jointly develop and launch a compliant multi-asset RWA tokenized fund.
• MaxQuant AI for AI-driven financial services and analytics: The agreement, signed by the subsidiary FTFT International Securities & Futures Co., Ltd., includes plans to launch a six-month free trial campaign for the AI platform. At the time of this announcement, the company's market capitalization was noted as $6 million with revenue of $2 million in the last twelve months.
• Professor Yu Xiong as Chief Blockchain Advisor for stablecoin initiatives: Professor Xiong was appointed on July 29, 2025, to provide guidance on stablecoins and RWA businesses. The RWA Division is exploring reserve assets including gold, Bitcoin, and U.S. Treasury bonds for stablecoin backing.
• Strategic alliances for advanced rail transport system development: A Project Cooperation Agreement was signed on September 2, 2025, with Innovatelab LLC to commercialize the \'Vacuum Parcel\' technology for ultra-high-speed rail.
• Joint ventures for consumer financial services and micro-credit solutions: Future FinTech Group Inc. continues to engage in supply chain trading and finance businesses in China, and the RWA partnership with HHEX includes tokenization of supply chain financial assets. No specific financial figures for a dedicated micro-credit joint venture were found.

This structure of partnerships is best viewed in a comparative table to see the division of labor and the scale of commitment:

The Hong Kong subsidiary, Future Securities, which holds Type 1, Type 2, and Type 4 licenses from the Hong Kong Securities and Futures Commission, is central to the MaxQuant AI collaboration. Furthermore, the RWA Division is actively pursuing a Virtual Asset Trading Platform License (VATP) and a Type 9 asset management license in Hong Kong.

The company's overall liquidity position is reflected in a reported current ratio of 2.3 as of the October 2025 news, though another source reported it as 1.52.

Finance: draft 13-week cash view by Friday.

Future FinTech Group Inc. (FTFT) - Canvas Business Model: Key Activities

You're looking at the core engine driving Future FinTech Group Inc. (FTFT) as of late 2025. The activities show a clear pivot, leaning heavily on new digital ventures while maintaining a surprisingly large, though recently scaled, physical goods component.

Developing Web3, RWA, and high-performance computing platforms

Future FinTech Group Inc. made its official entry into the Web3.0 architecture with the establishment of its Real-World Asset Tokenization Division (RWA Division) on August 4, 2025. This division is tasked with exploring technical paths for stablecoin issuance and asset tokenization. A key milestone followed on October 7, 2025, when Future FinTech (Hong Kong) Limited signed a strategic cooperation agreement with HHEX RWA Financial Instruments Limited to accelerate the development of its Web3 and RWA platforms. The joint effort includes building an RWA Technology Center to handle tokenization needs for various traditional financial assets. The RWA Division plans to evaluate potential underlying reserve assets for stablecoin backing, including gold, Bitcoin, and U.S. Treasury bonds.

Operating commission-based trading and consulting services

The financial services arm is anchored by operations in Hong Kong. FTFT International Securities and Futures Limited holds several key licenses from the Hong Kong Securities and Futures Commission: Type 1 ('Securities Trading'), Type 2 ('Futures Contract Trading'), and Type 4 ('Securities Consulting'). For the three months ended June 30, 2025, this segment contributed $217,598 to revenue. The company also continues to engage in supply chain financing and trading, having been in coal supply chain financing and trading since Q2 2021 and aluminum ingots supply chain financing and trading since Q3 2021.

Research and development (R&D) for FinTech and blockchain innovation

Innovation is being driven through strategic appointments and new technology deployment. On July 30, 2025, Future FinTech appointed Professor Yu Xiong from the University of Surrey as its Chief Blockchain Advisor to maximize success in new blockchain businesses. Furthermore, the Hong Kong subsidiary launched an AI application for Investment Analytics and Trading on August 13, 2025. The RWA Division itself is focused on designing and implementing the on-chain process for real-world assets and establishing valuation and risk management mechanisms.

Managing digital asset operations, including cryptocurrency mining

The digital asset management focus has seen a significant shift. Future FinTech Group Inc. sold its cryptocurrency mining operations in the United States. This follows a previous hosting agreement for Bitcoin miners at its Norwalk, Ohio farm, which involved a maximum power load of 4.0 megawatts and was effective through April 30, 2025. The company's overall digital assets segment previously focused on investing in mining facilities and operating blockchain nodes.

Sales and distribution of Fast-Moving Consumer Goods (FMCG)

The FMCG segment has shown explosive growth in the reported periods, despite the company historically shifting away from fruit juice manufacturing. Future FinTech commenced operations in the FMCG sector during the first quarter of fiscal year 2025. For the three months ended September 30, 2025, FMCG revenue reached $1,196,141. This represents an increase of 349,648.83% compared to only $342 in the same period of 2024. The products include functional beverages like coffee under the CBK brand and hemp-infused offerings, sold throughout mainland China with select export channels in Southeast Asia.

Here's a quick look at the revenue contribution across the continuing operations for the most recent reported quarters:

The company's total revenue for the nine months ended September 30, 2025, was $2.48 million, which is up 25.70% from $1.98 million year-over-year. Still, the net income for the same nine-month period was a loss of $2.82 million, which narrowed 71.95% from a loss of $10.06 million year-over-year.

Future FinTech Group Inc. (FTFT) - Canvas Business Model: Key Resources

You're looking at the core assets Future FinTech Group Inc. (FTFT) relies on to execute its strategy as of late 2025. These aren't just line items; they are the licenses, the tech, and the people that drive the business.

The regulatory foundation in Hong Kong is a key resource. Future International Securities and Futures Limited, your wholly-owned subsidiary, already holds the foundational licenses from the Securities and Futures Commission (SFC). These include the Type 1 license for Securities Trading, the Type 2 license for Futures Contract Trading, and the Type 4 license for Securities Consulting. You're actively building on this, having signed an agreement in August 2025 to apply for the Type 1 Virtual Asset Service Provider (VASP) license and the Type 9 Asset Management License.

Your management team is described as a resource itself-a team of seasoned business leaders with extensive experiences in FinTech and the capital markets. To bolster the technology focus, you appointed Professor Yu Xiong from the University of Surrey as Chief Blockchain Advisor in July 2025, specifically to guide expansion into stablecoins and real-world asset businesses.

Regarding proprietary technology, the focus is on the research and development of FinTech and blockchain innovations. While specific performance metrics for a proprietary AI application for investment analytics aren't public, the company lists 'Company AI' as a resource, emphasizing dedication to exploring the full potential of these technologies.

The blockchain-based e-commerce platform, Chain Cloud Mall (CCM), remains a stated operational component. The last reported operational snapshot for CCM v2.0, which launched in June 2019, showed it had attracted 3,294 users globally and generated RMB 40 million of gross merchandise value (GMV) with 1,512 orders since its January 2019 launch.

Liquidity is definitely a point of focus. As of the second quarter of 2025, your Current Ratio stood at 2.30. This indicates a solid short-term position, especially when looking at the underlying balance sheet components from the latest available data period ending September 29, 2025, where Current Assets were US$50.33M against Current Liabilities of US$9.79M. Here's a quick look at the financial health metrics around that time:

These key resources can be summarized by their function:

• Hong Kong SFC Licenses: Type 1, 2, and 4 held.
• Liquidity: Current Ratio of 2.30 as of 2025/Q2.
• Management: Seasoned leaders in FinTech and capital markets.
• Technology Focus: Emphasis on R&D for FinTech and blockchain innovations.
• E-commerce Platform: Operation of Chain Cloud Mall (CCM).

The debt position is also noteworthy; the Debt to Equity Ratio reduced to 5.2% as of September 29, 2025, down from 14.5% five years prior. Finance: draft 13-week cash view by Friday.

Future FinTech Group Inc. (FTFT) - Canvas Business Model: Value Propositions

You're looking at the core benefits Future FinTech Group Inc. (FTFT) offers its customers as of late 2025, grounded in their recent financial reality and strategic pivots. The numbers tell a story of a company actively restructuring its value delivery around digital finance and Web3 infrastructure.

Secure and efficient digital financial services for business and individuals

This proposition is supported by the company's established, albeit currently challenged, operational base in traditional fintech areas. For the three months ended March 31, 2025, the legacy 'Supply Chain Financing/Trading' segment generated $477,792 in revenue, while the 'Others' segment contributed $75,185. The cumulative revenue for the first nine months of 2025 stood at $2.48 million. To enhance security and service scope, Future FinTech Group is pursuing key regulatory approvals, including a Virtual Asset Trading Platform License (VATP) and a Type 9 asset management license in Hong Kong, building on existing Type 1 and Type 4 licenses. This focus aims to secure the movement of funds in a market where the global cross-border payments market size was valued at $371.6 billion in 2025.

Access to Web3 and Real-World Asset (RWA) investment platforms

This is a major near-term focus, formalized by the establishment of the RWA Division on August 4, 2025. The value here is the bridge to tokenized assets. On October 6, 2025, Future FinTech Group (Hong Kong) Limited signed a strategic cooperation agreement with HHEX RWA Financial Instruments to accelerate this platform development. This partnership is central to creating compliant RWA tokenized products, such as a multi-asset RWA tokenized fund, combining HHEX's tokenization technology with FTFT's asset selection and compliance expertise. The company plans to evaluate reserve assets including gold, Bitcoin, and U.S. Treasury bonds for these tokenization efforts.

AI-driven investment analytics and trading tools

The commitment to data-driven decision-making is evident through the launch of an AI Application for Investment Analytics and Trading by the FTFT Hong Kong Subsidiary on August 13, 2025. This tool is designed to integrate with the company's digital asset operations, which include investing in mining facilities and operating blockchain nodes. The recent financial results show the volatility of the digital asset space, with the company reporting a basic Loss Per Share from continued operations of $(12.65) for Q1 2025. The AI tool aims to provide a clearer edge in this complex trading environment.

Cross-border payment and digital asset management services

Future FinTech Group's historical business included cross-border money transfer services in the UK and asset management in Hong Kong. The current strategic push directly supports this with the pursuit of the Type 9 asset management license to manage both traditional and virtual assets. This is critical in a sector where stablecoin transaction volumes climbed to $710 billion in February 2025. The company's market capitalization as of late November 2025 was $24.79 million, with 20.15 million shares outstanding.

Transparent supply chain management via blockchain technology

The RWA partnership with HHEX explicitly targets the tokenization of supply-chain financial assets. This value proposition leverages blockchain to bring transparency to the financing aspects of the supply chain, an area that contributed $477,792 in revenue in Q1 2025. The goal is to build an integrated 'RWA Business Center System' to handle the tokenization needs for these assets efficiently.

The company's Net Loss for the first three quarters of 2025 narrowed by 71.95% year over year, reaching $2.82 million.

• Pursuing Hong Kong licenses: VATP and Type 9.
• Existing Hong Kong licenses: Type 1 and Type 4.
• Q1 2025 Supply Chain Financing/Trading Revenue: $477,792.
• Market Cap as of Nov 28, 2025: $24.79M.

The company's digital asset segment focuses on blockchain infrastructure and cryptocurrency mining. Finance: draft 13-week cash view by Friday.

Future FinTech Group Inc. (FTFT) - Canvas Business Model: Customer Relationships

Future FinTech Group Inc.'s customer relationships are currently defined by the scale and nature of its primary revenue-generating activities, which as of late 2025, center on supply-chain financing/trading in China and a growing Fast-Moving Consumer Goods (FMCG) segment.

Dedicated account managers for personalized service offerings

The structure of the supply-chain financing and trading segment suggests a need for high-touch service for business clients. While specific staffing numbers for dedicated account managers aren't public, the operational scale can be inferred from financial results. The company reported total revenue of $\mathbf{\$1,324,633}$ for the third quarter of fiscal year 2025, with an employee count listed as $\mathbf{40}$ in some analyses, yielding a Revenue Per Employee of approximately $\mathbf{\$66,643}$ for the trailing twelve months ending Q3 2025.

Responsive support via phone, email, and online chat channels

Specific metrics for support channel utilization (phone, email, chat) are not disclosed in recent filings. However, the business model shift towards supply-chain financing and trading, alongside the FMCG segment, implies direct B2B and B2C support channels are active. The low institutional ownership of $\mathbf{1.64\%}$ versus high insider ownership of $\mathbf{46.64\%}$ suggests that relationship management may be more internally driven than externally driven by large institutional client service mandates.

Six-month free trial of the MaxQuant AI platform for new users

No publicly available statistical or financial data confirms the existence or performance metrics, such as adoption rates or conversion from trial to paid subscription, for a product named MaxQuant AI platform within Future FinTech Group Inc.'s reported operations as of late 2025.

Direct engagement through subsidiary offices in key global locations

The primary operational focus has shifted, with the company engaged in supply-chain financing services and trading operations mainly in China. The Q1 2025 revenue breakdown shows the 'Supply Chain Financing/Trading' segment generated $\mathbf{\$477,792}$ for the three months ended March 31, 2025, indicating this is a core customer interaction point geographically concentrated in the region.

Continuous feedback loop for service and product improvement

The company's financial performance, including a substantial loss from continuing operations of $\mathbf{\$1,965,312}$ in Q3 2025, and a significant provision for doubtful debts of $\mathbf{\$28.37}$ million in Q1 2025, points to direct feedback mechanisms related to credit risk and customer performance being critical, even if not explicitly detailed as a formal 'feedback loop' program.

Customer Segment Revenue Contribution (Q1/Q2 2025 Examples)

The revenue streams illustrate the different types of customer relationships the company manages:

• Supply Chain Financing/Trading (Q1 2025): $\mathbf{\$477,792}$
• Fast-Moving Consumer Goods (Q2 2025): $\mathbf{\$387,684}$
• Trading Commission and Consulting Service (Q2 2025): $\mathbf{\$217,598}$
• Other Segments (Q1 2025): $\mathbf{\$75,185}$

Finance: draft 13-week cash view by Friday.

Future FinTech Group Inc. (FTFT) - Canvas Business Model: Channels

FTFT International Securities & Futures Co., Ltd. (Hong Kong subsidiary)

• Licensed corporation recognized by the Hong Kong Securities Regulatory Commission.
• Provides Hong Kong stock account opening and trading services.

Online shopping platform: Chain Cloud Mall (CCM)

The platform utilizes blockchain and internet technology for e-commerce and shared economy models. Operational data closest to a reporting date shows historical performance metrics:

Corporate websites and proprietary digital payment systems (DCON)

• DCON is described as a blockchain-based application incubator and a digital payment system.
• The company anticipates significant changes in results of operations compared to the same period last year, with a notable increase in revenue due to its strategic expansion into the fast-moving consumer goods sector.

Mobile applications for consumer financial services and payments

Future FinTech Group also maintains a consumer financial services segment that supports mobile payments, micro-credit and other lending solutions through joint ventures and strategic alliances. The overall company statistics as of late 2025 context include:

Export channels for FMCG products in mainland China and Southeast Asia

• Products are sold throughout mainland China.
• Select export channels exist in Southeast Asia.
• The company anticipates a notable increase in revenue due to its strategic expansion into the fast-moving consumer goods sector.

Future FinTech Group Inc. (FTFT) - Canvas Business Model: Customer Segments

You're looking at the customer base for Future FinTech Group Inc. (FTFT) as of late 2025. The company's structure shows a blend of traditional consumer goods and evolving fintech services, primarily focused on the Asian market, though with global aspirations.

Consumers of Fast-Moving Consumer Goods (FMCG) in China represent a significant portion of the reported revenue base. This segment is tied to the company's beverage and agriculture operations, including brands like CBK coffee and Hemp & Coffee offerings, which are sold throughout mainland China. For the second quarter of fiscal year 2025, this segment was a primary revenue driver.

Businesses requiring supply chain financing and trading services form another core group. This business, which operates in China, is central to the company's fintech pivot. The financial exposure to this customer group is notable, as evidenced by the significant provision set aside to cover potential losses. For the three months ended March 31, 2025, the Supply Chain Financing/Trading segment brought in revenue of $477,792. Furthermore, the company recorded a substantial $28.37 million provision for doubtful debts in Q1 2025, highlighting the credit risk associated with these financing customers.

Institutional investors and traders using AI-driven analytics are served through the Trading Commission and Consulting Service segment. The CEO mentioned AI-driven growth in Southeast Asia, suggesting this segment leverages advanced technology for its clientele. This service line contributed $217,598 to the total revenue in Q2 2025.

Global business and individual customers seeking digital finance solutions are targeted through the broader fintech strategy, which includes developing blockchain applications, online payment platforms, and digital asset management services. The company also operates a blockchain-based online shopping mall platform, Chain Cloud Mall ("CCM"), and a cross-border e-Commerce platform 'NONOGIRL.'

Micro, small, and medium enterprises (MSMEs) in emerging markets are implicitly served by the company's focus on financial inclusion and cross-border capabilities, particularly in Southeast Asia. While specific MSME revenue is not broken out, the general fintech market context for 2025 suggests this is a high-growth area; the global fintech market itself is estimated to be worth between $200 billion and $395 billion in 2025, with small businesses representing a market over $100 billion TAM.

Here's a quick look at the revenue contribution from the identifiable operating segments for the most recent reported quarters:

The customer base is supported by a commitment to R&D, where approximately 15% of the 2024 revenue, amounting to $3.75 million, was allocated to areas like blockchain and AI implementation.

The company emphasizes personalized service, tailoring offerings to specific client requirements, which includes providing dedicated account managers. You'll see this focus in their support channels, which include phone, email, and online chat.

• The company is focused on integrating diverse cultures and exploring geographical opportunities, synthesizing cross-border discoveries.
• The customer base is served by a team of seasoned business leaders with extensive experience in FinTech and capital markets.
• The company aims to leverage technologies such as blockchain, artificial intelligence, and big data analytics to enhance service offerings.
• FTFT operates in various sectors, including asset management, brokerage, investment banking, cross-border payments, and supply chain finance.

The financial health of some customer relationships is a key consideration; the total cash utilized in operating activities surged to $28.8 million from $7.39 million in Q1 2025, partly due to the large bad debt provision.

Future FinTech Group Inc. (FTFT) - Canvas Business Model: Cost Structure

You're looking at Future FinTech Group Inc.'s (FTFT) cost base as of late 2025, which reflects a significant shift in operational focus and associated expenditures. Honestly, the numbers show a heavy tilt toward covering overhead and managing the fallout from past operations, rather than direct cost of goods sold for their newer ventures.

The overall operating structure is dominated by fixed and semi-fixed costs. For the Trailing Twelve Months ending September 30, 2025, the total Operating Expenses hit $35.99 million. That figure is the big bucket you need to watch.

Within that, the Selling, General & Admin (SG&A) expenses were reported at $6.57 million for the TTM ending September 2025. This category includes things like executive salaries, office rent, and general corporate overhead. You can see the breakdown of major cost components in the table below.

The Costs of Revenue, which cover the direct expenses tied to generating sales-think the cost of goods for the Fast-Moving Consumer Goods (FMCG) segment or direct trading service expenses-totaled $2.16 million for the same TTM period. Given the significant revenue growth reported in the FMCG segment, the low corresponding cost of revenue suggests a low-margin business model there, or perhaps the revenue recognition timing is skewed.

For the strategic pivot into digital finance, Research and Development (R&D) costs specifically for blockchain and AI initiatives were $0.31 million for the TTM ending September 2025. This is a relatively modest figure, suggesting that much of the development might be outsourced or that the focus is more on integration and partnership rather than heavy internal engineering spend right now. Future FinTech Group Inc. has been emphasizing its focus on web3 and AI in its blockchain push.

Now, let's talk about Regulatory compliance and legal costs. You won't find a clean line item for 'New License Fees' in the TTM figures, but the historical context is important. The company previously agreed to pay $1.65 million to settle SEC charges over accounting lapses, which included retaining an independent compliance consultant. For 2025, navigating the complex, multi-jurisdictional web of compliance, especially with new RWA (Real World Asset) tokenization efforts announced in October 2025, means ongoing, significant legal and compliance spending. The need to adopt RegTech solutions globally, where spending is projected to surpass $130 billion in 2025, puts pressure on budgets for any fintech firm. You should expect these costs to be embedded within the SG&A or legal provisions.

The structure shows that the primary cost driver isn't the direct cost of the services sold, but rather the corporate infrastructure and legacy items. It's a cost structure built more for a holding company managing diverse, sometimes struggling, segments.

• The R&D spend of $0.31 million is low relative to the overall operating expense base of $35.99 million.
• The Cost of Revenue at $2.16 million is significantly lower than SG&A at $6.57 million for the TTM ending September 2025.
• Legal and compliance costs are likely a major, non-routine expense, highlighted by the prior $1.65 million SEC settlement.

Finance: draft 13-week cash view by Friday.

Future FinTech Group Inc. (FTFT) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Future FinTech Group Inc. (FTFT) as of late 2025. The streams show a company in transition, balancing legacy or newly acquired operations with significant one-time financial events. Honestly, the mix is quite varied, reflecting the shift away from the older juice business toward fintech and digital assets.

For the nine months ended September 30, 2025, the total sales/revenue was reported at $2.48 million, up from $1.98 million for the same period last year. Still, the overall picture of income generation is heavily influenced by non-recurring items.

Here's a breakdown of the key revenue components as you've outlined them:

Segment Revenue Contributions (Based on Provided Data Points)

The Gain on disposal of discontinued operations of $28.24 million for the nine months ended September 30, 2025, is a major component impacting the period's financial results, related to the transfer of several entities including FTFT UK LIMITED.

Other revenue streams that contribute to the top line, though specific Q3 2025 figures aren't isolated here, include:

• Commission from securities and futures trading services.
• Income from digital asset management and cryptocurrency mining.

To give you a sense of the core operating performance, the Q3 2025 sales figure was $1.32 million, which was an increase compared to $1.03 million reported a year ago for the third quarter. The gross profit from trading commission and consulting service segments reportedly decreased during the nine months ended September 30, 2025. The FMCG segment, despite a significant revenue increase for the nine months ended September 30, 2025, had a low gross margin.

The company's historical business model included beverage and agriculture production, which aligns with the FMCG stream, alongside digital assets operations and consumer financial services. The net income for the nine months ended September 30, 2025, was a net loss of $4.69 million.