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.
WeTrade Group Inc. (WETG) announced a strategic partnership between Vmade Tech and Fulgent Life aimed at establishing a cross-border SaaS and payment integration solution. Vmade will create an independent overseas platform for Fulgent Life, targeting a GMV of US$50 million in 2023. The partnership will also promote 'Sober Rush', a product developed for alcohol-related recovery, which has received multiple patents, including a 20-year U.S. patent. Additionally, WTPay, WeTrade's cross-border financial service platform, is operational in several countries, enabling quick global fund collection.
WeTrade Group (NASDAQ: WETG) announced its demo version of a ChatGPT-style product is now available on Tencent's WeChat for internal testing, with plans for future commercialization. This product aims to enhance user interaction and will also be integrated into platforms like Alipay and Baidu. The ChatGPT-style technology will be utilized within WeTrade's YCloud system, providing digital service tools for the micro-business industry, aiming to reduce personnel costs and improve service efficiency. The company operates across four segments: YCloud, WTPay, Y-Health, and YG, focusing on diverse technology solutions.
WeTrade Group Inc. (NASDAQ: WETG) announced plans to enhance its YCloud services by integrating Baidu's ERNIE Bot, a ChatGPT-style product, via API. The integration aims to improve community marketing efficiency and user engagement. Baidu's ERNIE Bot is set for public release following internal testing in March 2023. WeTrade's existing offerings, including YCloud, WTPay, Y-Health, and YG, focus on various sectors such as micro-business, public health, and new energy. The company emphasizes the technological advancement of its platforms and their role in supporting digital transformation across industries.
WeTrade Group Inc. (NASDAQ: WETG) announced on February 8, 2023, plans to develop a ChatGPT-like product and integrate its technology into platforms such as WeChat and Alipay. The company aims to enhance user services and support leading Internet companies in China with AI-driven applications. With ChatGPT's rapid growth, boasting over 100 million monthly active users by January 2023, WeTrade recognizes this as a pivotal moment in tech development, focusing on delivering advanced digital services. Its SaaS offerings include YCloud, WTPay, Y-Health, and YG, targeting various sectors from marketing to public health.
WeTrade Group Inc. (NASDAQ: WETG) announced the establishment of a branch in Xiamen, China, to develop the "Green Planet·Renren Power Plant" project. This initiative connects producers and lessors of off-grid new energy equipment via a matchmaking platform in exchange for service commissions. The project involves partnerships with FHT Future Technology Ltd, Fujian Super Solar Energy Technology Co., Ltd, and Hangzhou Lvchi New Energy Co., Ltd. The TS-3500, an off-grid power supply equipment, is highlighted for its use in remote areas. CEO Hechun Wei emphasized the project's alignment with clean energy trends and global economic growth goals.
WeTrade Group Inc. (NASDAQ: WETG) has announced its collaboration with Fujian Super Solar Energy Technology Co., Ltd for its new energy business segment, YG. The partnership aims to provide digital transformation tools and technical support for the new energy industry, especially in the Middle East and Central Asia. The 'Green Planet, Renren Power Plant' project is set to commence global presales in February, with revenue calculated on March 16. This venture is part of WeTrade's strategy to enhance its market presence and capitalize on the growing demand for portable energy storage products.
WeTrade Group Inc. (NASDAQ: WETG) has entered a strategic cooperation agreement with Hangzhou Parallel Space Network Technology Co., Ltd. The collaboration aims to establish Parallel Space Intelligent Network Technology Co., LTD, focusing on the 'virtual human' technology in the meta-universe sector. This partnership reflects WeTrade's commitment to enhancing digital technology services and seizing opportunities in the growing virtual human industry. CEO Hechun Wei emphasized the expansion of virtual human applications across various sectors as a key growth area for the company.
WeTrade Group Inc. (NASDAQ: WETG) has announced a strategic partnership with Fujian Super Solar Energy Technology to develop and distribute portable energy storage products globally. This collaboration marks WeTrade's entry into the new energy market, capitalizing on growing demand amid climate change and power restrictions. The portable energy storage product, Venus Power, has gained popularity in China, offering features such as fast charging and solar panel compatibility. Management believes this move will enhance their market position and shareholder value.
WeTrade Group Inc. (NASDAQ: WETG) announced a strategic partnership with Fujian Kunyue Medical Supplies Co. Ltd. to enhance online sales through SaaS technology. Kunyue Medical, a leader in medical equipment production, has achieved over 50,000 daily online sales orders on Alipay's platform. This collaboration aims to facilitate Kunyue Medical's digital transformation and business growth. CEO Hechun Wei emphasized the importance of digitalization for traditional pharmaceutical companies to thrive in the competitive biopharmaceutical landscape.
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