Next Technology Holding Inc. - WETG STOCK NEWS

Welcome to our dedicated page for Next Technology Holding news (Ticker: WETG), a resource for investors and traders seeking the latest updates and insights on Next Technology Holding stock.

Next Technology Holding Inc. (symbol: WETG), known as WeTrade Group Inc., is a global diversified Software as a Service (SaaS) technology service provider dedicated to offering technical support and digital transformation tools for enterprises across various industries. The company operates through four primary business segments: YCloud, WTPay, Y-Health, and YG.

YCloud is a micro-business cloud intelligent system designed to serve the global micro-business industry. It leverages big data analysis and leading technology to enhance users' marketing relationships and commission profit management. YCloud also boosts customers' revenue through multi-channel data statistics, AI fission, management, and improved supply chain systems.

WTPay is an independently developed service supporting multiple online payment methods and eight mainstream digital wallets in over 100 countries. It helps customers quickly realize global collection and payment business.

Y-Health focuses on the public health sector, engaging in the development of businesses for biological health and medical enterprises. This segment primarily concentrates on epidemic detection and prevention, daily healthcare, traditional Chinese medicines, and other health-related products.

YG is the new energy business segment, providing tools and technical support for the digital new energy industry in the Middle East and Central Asia.

Recently, WeTrade Group announced several significant developments:

• The launch of a large-scale language model generated by artificial intelligence, enhancing technical reserves in AI and increasing application of large model technology for industry applications.
• The financial results for fiscal year 2022 showed a decrease in revenue from operations primarily due to the reduction in Gross Merchandise Volume for the YCloud system amid the COVID-19 pandemic. However, service revenues from third parties increased, indicating a focus on diversifying revenue sources.
• The establishment of a wholly-owned subsidiary, WeTrade Bit Technology Limited (WBT), in Hong Kong, although it faced issues with unauthorized commercial contracts.
• Management changes, with a new board of directors and the appointment of Lina Jiang as the CEO and Xiaodong An as the acting CFO.
• A derivative lawsuit filed by certain shareholders against former directors and officers, seeking to confirm the validity of recent appointments and invalidate certain private placement transactions.
• The launch of the Yuetao Haowu APP, a discount shopping platform for consumers, representing a significant upgrade in WeTrade's China business sector. This platform aims to drive company growth through consumer-end business development.
• A kickoff meeting for China's new business launch, featuring the Yuetao Haowu Mini program, aimed at saving money and making money through membership-based shopping.

WeTrade Group Inc. continues to expand its global footprint by enhancing its core business segments and exploring new opportunities in AI technology, public health, and digital new energy. For more information, please visit https://ir.wetg.group.

Forward-Looking Statements: This overview contains forward-looking statements, including the company's expectations, plans, and prospects. Actual results may differ materially due to various factors, including market conditions, regulatory changes, and operational performance. Please refer to the company's annual reports and filings with the Securities and Exchange Commission for additional information.