Mercurity Fintech Holding Inc. (China)

The Company engages in the design, development, creation, testing, installation, configuration, integration, and customization of digital asset infrastructure solutions based on blockchain technologies in the British Virgin Islands and the Asia pacific region.
BUSINESS
Prior to July 2019, it provided integrated B2B services to food service suppliers and customers in China. After this divestment, the Company is no longer engaged in B2B services and its current principal business is focused on providing digital asset infrastructure solutions services based on blockchain technologies. The Company design and develop digital asset transaction platforms based on blockchain technologies for customers to facilitate asset trading, asset digitalization and cross-border payments and provide supplemental services for such platforms, such as customized software development services, maintenance services and compliance support services. The Company has also introduced a Defi platform at the end of 2020, using its technology, to provide communities with the infrastructure to swap digital assets.
The Group operates and manages its business as a single segment through the provision of design, development, creation, testing, installation, configuration, integration and customization of making fully operational software based on blockchain technologies and related services. The Group's revenues are derived from British Virgin Islands and Asia pacific regions, no geographical segments are presented.
HISTORY
2010 The Company started to operate a group buying and B2C e-commerce platform in China through Beijing Wowo Tuan Information Technology Co., Ltd. in March 2010.
2011
In order to facilitate investment in its company, we incorporated Wowo Limited in Cayman Islands as a holding company in July 2011.
The Company was incorporated in Cayman Islands on July 13, 2011.
2015
In April 2015, Wowo Limited completed the initial public offering and listed our ADSs on the Nasdaq Capital Market under the symbol “WOWO.”
In June 2015, the Company acquired Join Me Group (HK) Investment Company Limited to establish our food services industry B2B business.
2016
In June 2016, the Company changed the trading symbol for its ADSs listed on the Nasdaq Global Market to “JMU.”
On December 28, 2016, the Company changed its name from Wowo Limited to JMU Limited.
2019
In May 2019, the Company acquired Mercurity Limited and its subsidiaries and variable interest entity to start developing digital asset transaction platform and solutions based on blockchain technologies.
On May 21, 2019, the Company acquired Unicorn Investment Limited (“Unicorn”) and its subsidiaries and a VIE (“the Acquisition”). Pursuant to a share purchase agreement, the Company purchased all the issued and outstanding shares of Unicorn from its shareholder for the consideration of 632,660,858 newly issued ordinary shares of the Company. On that date, Unicorn, a developer of asset transaction platform products based on blockchain technologies, became a wholly owned subsidiary of the Company.
On July 22, 2019, the Company divested its B2B services to food service suppliers and customers by selling all the issued and outstanding shares of New Admiral Limited, or New Admiral, its former wholly-owned subsidiary operating the B2B business, to Marvel Billion Development Limited, or Marvel Billion.
2020
In February 2020, it changed the trading symbol for its ADSs listed on the Nasdaq Capital Market to “MFH.”
Prior March 1, 2020, the Company and its subsidiaries, variable interest entities (“VIEs”) and VIEs' subsidiaries were primarily engaged in the sale of rice, flavor, bean oil, seafood, wine and some other types of generic food and beverage products through its website www.ccjoin.com though operating a business-to-business (“B2B”) online e-commerce platform that provides integrated services to suppliers and consumers in the catering industry in the People's Republic of China (“PRC”).
On March 1, 2020, the Company acquired NBpay Investment Limited (“NBpay”) and its subsidiaries and a VIE (“the Acquisition”). Pursuant to a share purchase agreement, the Company purchased all the issued and outstanding shares of Unicorn from its shareholder for the consideration of 761,789,601 newly issued ordinary shares of the Company. On that date, NBpay, a developer of asset transaction platform products based on blockchain technologies, became a wholly owned subsidiary of the Company.
On April 30, 2020, the Company changed its name from JMU Limited to Mercurity Fintech Holding Inc.,