---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-036750"
form_type: "8-K"
ticker: "NXTT"
cik: "0001784970"
company_name: "Next Technology Holding Inc."
filed_at: "2023-10-10T23:59:59+00:00"
generated_at: "2026-06-10T02:38:03.149475+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# WeTrade Board terminates $12M subscription, Bitcoin purchase; appoints two independent directors

## Summary
- Board terminated two Subscription Agreements (Sept 13 and Sept 25, 2023) initiated by former directors/officers for $12M and 6,000 Bitcoin at $30K/coin.
- Appointed Ting Li and Lihui Zhang as independent directors; Zhang named Audit Committee chair.
- Removed Hechun Wei as sole director of subsidiary WeTrade Bit; appointed Jianshuang Wang as sole director, CEO, CFO, and President.
- Terminated agreements had been unauthorized announcements; board reasserts control over capital allocation.

## SEC filing metadata
- accession: 0001493152-23-036750
- form_type: 8-K
- ticker: NXTT
- cik: 0001784970
- company_name: Next Technology Holding Inc.
- filed_at: 2023-10-10T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1784970/000149315223036750/0001493152-23-036750-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1784970/000149315223036750/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-036750
- JSON: https://secwatch.observer/filing/0001493152-23-036750.json
- Plain text: https://secwatch.observer/filing/0001493152-23-036750.txt

## Key facts
- Executive change
  Lihui Zhang was appointed as Independent Director and Chair of Audit Committee at Next Technology Holding Inc..
  - Action: appointed
  - Role: Independent Director and Chair of Audit Committee
  source text: and Lihui Zhang as an independent director of the Board of the Company and the chair of the Audit Committee.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1784970/000149315223036750/0001493152-23-036750-index.htm
- Executive change
  Ting Li was appointed as Independent Director at Next Technology Holding Inc..
  - Action: appointed
  - Role: Independent Director
  source text: On October 2, 2023, the Board of Directors of the Company appointed Ting Li as an independent director of the Board of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1784970/000149315223036750/0001493152-23-036750-index.htm
- Material Agreements
  Next Technology Holding Inc. terminated Subscription Agreements with Regulation S investors valued at $12 million (effective 2023-10-02).
  - Action: termination
  - Agreement: equity purchase
  - Counterparty: Regulation S investors
  - Value: $12 million
  - Effective: 2023-10-02
  source text: On October 2, 2023, the Board terminated the Subscription Agreements dated as of September 13, 2023 and the Subscription Agreement dated as of September 25, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1784970/000149315223036750/0001493152-23-036750-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.