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  4. [8-K] Future FinTech Group Inc. Reports Material Event

Future FinTech (FTFT) changes auditors after going concern and control weakness

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Future FinTech Group Inc. changed its independent auditor after its Audit Committee dismissed Fortune CPA Inc. on July 6, 2026 and appointed Wei, Wei & Co., LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2026.

Fortune’s audit reports on the Company’s consolidated financial statements for the years ended December 31, 2024 and December 31, 2025 included an explanatory paragraph about the Company’s ability to continue as a going concern. The Company and Fortune reported no disagreements on accounting or auditing matters, but disclosed a material weakness in internal control over financial reporting related to insufficient staff with U.S. GAAP and SEC reporting expertise. Fortune provided a letter to the SEC, filed as Exhibit 16.1, addressing these disclosures.

Positive

  • None.

Negative

  • None.
Item 4.01 Changes in Registrant's Certifying Accountant Governance
The company changed its independent auditing firm, which may involve disagreements on accounting matters.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Auditor dismissal date July 6, 2026 Effective date Audit Committee dismissed Fortune CPA Inc.
New auditor engagement date July 6, 2026 Date Wei, Wei & Co., LLP appointed for 2026 fiscal year
Fiscal year-end 2024 December 31, 2024 Year for which Fortune’s report included going concern paragraph
Fiscal year-end 2025 December 31, 2025 Year for which Fortune’s report included going concern paragraph
Exhibit 16.1 date July 6, 2026 Date of Fortune CPA Inc. letter to the SEC
going concern financial
"contained an explanatory paragraph regarding the Company's ability to continue as a going concern"
Going concern is the accounting assumption that a company will keep operating and meeting its obligations for the foreseeable future. The phrase matters most when a company or its auditors disclose substantial doubt about it, a formal warning that the business may not have enough resources to continue without raising money, restructuring, or selling assets. That language in a filing or press release signals elevated financial risk.
material weakness in internal control over financial reporting financial
"existence of a material weakness in internal control over financial reporting as of December 31, 2024 and December 31, 2025"
independent registered public accounting firm financial
"Fortune as the Company’s independent registered public accounting firm"
An independent registered public accounting firm is an outside accounting company officially registered with the government regulator to examine and report on a public company's financial records and controls. Investors treat its reports like an impartial inspector’s certificate — they add credibility to financial statements, help spot errors or misleading claims, and reduce the risk that shareholders are relying on unchecked or biased numbers.
Audit Committee financial
"the Audit Committee of the Board of Directors (the “Audit Committee”) of Future FinTech Group Inc."
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
Regulation S-K regulatory
"no reportable events (as described in Item 304(a)(1)(v) of Regulation S-K)"
A set of U.S. Securities and Exchange Commission rules that tell public companies which narrative and qualitative details must be disclosed in filings, such as risk factors, management discussion, executive pay, legal proceedings and business description. Think of it as a standardized checklist or blueprint that ensures investors get the same types of background information from every company so they can compare risks, management quality and strategy before making investment decisions.
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FAQ

What auditor change did Future FinTech Group (FTFT) disclose in this 8-K?
Future FinTech’s Audit Committee dismissed Fortune CPA Inc. as its independent registered public accounting firm on July 6, 2026 and appointed Wei, Wei & Co., LLP as the new auditor for the fiscal year ending December 31, 2026, effective the same date.

Did Future FinTech (FTFT) report disagreements with its former auditor Fortune CPA Inc.?
The company reported no disagreements with Fortune CPA Inc. on accounting principles, financial statement disclosure, or auditing scope and procedures during its two most recent fiscal years and through July 6, 2026, as defined under Item 304(a)(1)(iv) of Regulation S-K and related instructions.

What accounting issues did Future FinTech (FTFT) highlight about prior audits?
Fortune’s audit reports for the years ended December 31, 2024 and December 31, 2025 included an explanatory paragraph about Future FinTech’s ability to continue as a going concern, and identified a material weakness in internal control over financial reporting related to insufficient U.S. GAAP and SEC reporting expertise.

What material weakness in internal controls did Future FinTech (FTFT) disclose?
Future FinTech disclosed a material weakness in internal control over financial reporting as of December 31, 2024 and December 31, 2025, relating to insufficient staff with appropriate knowledge, training, and experience in U.S. GAAP and SEC reporting, a condition that continued through the interim period before Fortune’s dismissal.

Did Future FinTech (FTFT) consult Wei, Wei & Co. before appointing them auditor?
The company stated it did not consult Wei, Wei & Co., LLP on matters described in Item 304(a)(2)(i) or 304(a)(2)(ii) of Regulation S-K during its two most recent fiscal years or the period from January 1, 2026 to July 6, 2026 prior to their engagement.

What exhibits did Future FinTech (FTFT) include with this 8-K filing?
Future FinTech included Exhibit 16.1, a letter from Fortune CPA Inc. dated July 6, 2026 addressed to the SEC regarding the company’s disclosures, and Exhibit 104, the cover page interactive data file embedded within the Inline XBRL document associated with this report.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 6, 2026

 

Future FinTech Group Inc.

(Exact name of registrant as specified in its charter)

 

Florida   001-34502   98-0222013
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)

 

02B-03A, 23/F, Sino Plaza, 255-257 Gloucester Road

Causeway Bay, Hong Kong

(Address of principal executive offices, including zip code)

 

852 -21141970

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.001 per share   FTFT   Nasdaq Capital Market

  

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

Item 4.01 Changes in Registrant’s Certifying Accountant.

 

Dismissal of Fortune CPA Inc.

 

On July 6, 2026 (the “Effective Date”), the Audit Committee of the Board of Directors (the “Audit Committee”) of Future FinTech Group Inc. (the “Company”) approved the dismissal of Fortune CPA Inc. (“Fortune”) as the Company’s independent registered public accounting firm. Fortune has served as the independent registered public accounting firm for the Company since August 2023.

 

Fortune's audit reports on the Company’s consolidated financial statements as of and for the fiscal years ended December 31, 2025 and December 31, 2024 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles, except that the audit reports on the consolidated financial statements of the Company for the fiscal years ended December 31, 2025 and December 31, 2024 contained an explanatory paragraph regarding the Company's ability to continue as a going concern.

 

During the Company’s two most recent fiscal years and the subsequent interim period through July 6, 2026, there were (i) no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions thereto) with Fortune on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreement, if not resolved to the satisfaction of Fortune, would have caused it to make reference to the subject matter of the disagreement in their reports on the financial statements for such years, and (ii) no reportable events (as described in Item 304(a)(1)(v) of Regulation S-K), except for the existence of a material weakness in internal control over financial reporting as of December 31, 2024 and December 31, 2025 and through the subsequent interim period preceding the dismissal, relating to insufficient staff with the appropriate level of knowledge, training and experience in U.S. GAAP and SEC reporting requirements, as previously disclosed in the Company’s Annual Reports on Form 10-K for the fiscal years ended December 31, 2024 and December 31, 2025. In connection with the material weakness described above, the Audit Committee discussed the subject matter of such reportable event with Fortune, and the Company has authorized Fortune to respond fully to the inquiries of the Company’s successor accountant, Wei, Wei & Co., LLP (“Wei, Wei & Co.”), concerning the subject matter of such reportable event.

 

The Company provided Fortune with a copy of the disclosures made in this Item 4.01 no later than the date of the filing of this Current Report on Form 8-K and requested Fortune to furnish it with a letter addressed to the SEC, stating whether Fortune agrees with the statements made by the Company and, if not, stating the respects in which it does not agree. A copy of Fortune’s letter to the SEC dated July 6, 2026 regarding these statements is filed as Exhibit 16.1 to this Current Report on Form 8-K.

 

Appointment of Wei, Wei & Co., LLP

 

On July 6, 2026, the Audit Committee approved the engagement of Wei, Wei & Co. as the Company’s independent registered public accounting firm, effective immediately, and also approved Wei, Wei & Co. to act as the Company’s auditor for the fiscal year ending December 31, 2026, effective as of July 6, 2026.

 

During the Company’s two most recent fiscal years and the subsequent period from January 1, 2026 to July 6, 2026, the Company did not consult with Wei, Wei & Co. regarding any of the matters or events set forth in Item 304(a)(2)(i) or 304(a)(2)(ii) of Regulation S-K.

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits

 

Exhibit No.   Exhibit Title or Description
16.1   Letter from Fortune CPA Inc. dated July 6, 2026.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  Future FinTech Group Inc.
   
Date: July 9, 2026 By: /s/ Hu Li
  Name:  Hu Li
  Title: Chief Executive Officer

 

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Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

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