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. (NASDAQ: WETG) plans to expand into the hospitality and residential sectors, anticipating a recovery as China eases COVID restrictions. The company aims to introduce its YCloud system to enhance its market presence. With international travel returning and demand for offline shopping rising, particularly in hospitality, WeTrade sees significant opportunities. The company has noted positive developments through its three major business segments: YCloud, WTPay, and Y-Health, and is drafting a talent blueprint to support its growth strategy.
WeTrade Group Inc. (NASDAQ: WETG) announced insights from founder Dai Zheng at the World Internet Conference, emphasizing the digital economy's role in global growth. Zheng noted that advancements in SaaS and big data are opening opportunities for Chinese companies to expand overseas. WeTrade aims to assist these businesses through digital transformation and risk mitigation. The company operates three segments: YCloud, WTPay, and Y-Health, focusing on micro-business solutions, global payments, and public health respectively.
WeTrade Group Inc. (NASDAQ: WETG) will participate in the 2022 World Internet Conference, specifically in the session 'Bridging the Digital Divide.' Founder Dai Zheng is set to speak on 'industry innovation driven by the digital economy.' The conference will take place from November 9-11, 2022, in Wuzhen, Zhejiang province, with nearly 2,000 representatives from over 120 countries gathering to discuss various topics across 20 subforums. WeTrade focuses on SaaS solutions, including its segments YCloud, WTPay, and Y-Health, aimed at enhancing digital transformation and global health.
WeTrade Group Inc. (NASDAQ: WETG) announced its global health business development plan, Y-Health, focusing on biotechnology and healthcare. The initiative aims at infectious disease prevention and includes partnerships with several companies to create monkeypox test kits. Since August 2022, collaborations with Jiqing Biomedical, Parkway Medical, MobiLab, and Zhixun Biotechnology have been established. The company also emphasizes enhancing cooperation within Y-Health to support biotechnology globally.
WeTrade Group Inc. (NASDAQ: WETG) launched its global payment system, WTPay, on October 18, 2022, during a press conference in Singapore. The Company also unveiled its health business development plans, which include initiatives under its Y-Health sector focused on biotechnology and healthcare. WTPay supports various online payment methods across 100+ countries, enhancing global payment operations for customers. The press conference featured key executives discussing the future prospects of WTPay, YCloud, and Y-Health.
WeTrade Group Inc. (NASDAQ: WETG) has formed strategic alliances with Second Pay Financing Inc., Manny's Money Remittance and Forex Services Inc., Supay Fintech Ltd., and Web3zero Limited to enhance their global e-commerce and payment capabilities. The agreements aim to share resources, develop user bases, and establish standards in social e-commerce and fintech. CEO Pijun Liu emphasizes the importance of these partnerships in improving payment flexibility and brand awareness, which could bolster shareholder value. The company operates in SaaS, focusing on YCloud, WTPay, and Y-Health services.
WeTrade Group Inc. (NASDAQ: WETG) has appointed Hanfeng Li as Vice President and President of the WTPay Business Segment. This strategic move aims to enhance the company’s global financial technology initiatives. Li brings extensive experience from his tenure at Tencent and Alipay, focusing on global payment systems. The company anticipates a trial launch of WTPay, designed for international payment solutions, supporting various online and digital wallet transactions across 100 countries. The leadership change is expected to optimize WeTrade's international development strategy.
WeTrade Group Inc. (NASDAQ: WETG) announced the launch of its self-developed global payment tool, WTPay, set for October 14, 2022. The tool supports multiple payment methods and aims to meet over 60% of worldwide enterprise payment needs. WeTrade has entered strategic agreements with four leading payment companies to enhance its global outreach. Initial promotions will target markets in the United States, Singapore, Australia, Philippines, and Indonesia.
WeTrade Group Inc. (NASDAQ: WETG) announced a press conference for the launch of its WTPay Global Collection and Payment System in Singapore on October 18, 2022. This system facilitates global payment solutions including order collection, remittance, and currency exchange across over 100 countries and supports multiple payment methods. CEO Pijun Liu emphasized WTPay's coverage of over 60% of global enterprise needs, targeting initial promotion in the U.S., Singapore, Australia, Philippines, and Indonesia. WeTrade aims to innovate within the micro-business market using its YCloud system.
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