Form 8-K - Current report

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 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): December 13, 2023

 

WeTrade Group Inc.

 

(Exact name of Company as specified in charter)

 

Wyoming		001-41450		N/A
(State or other jurisdiction of		(Commission File Number)		(I.R.S. Employer
incorporation or organization)				Identification Number)

 

Room 519, 05/F Block T3

 

Qianhai Premier Finance Centre Unit 2

 

Guiwan Area, Nanshan District, Shenzhen, China 518000

 

[phone]

 

(Address, including zip code, and telephone number, including area code, of principal executive offices)

 

Wyoming Registered Agent

 

1621 Central Ave Cheyenne, Wyoming 82001

 

(Name, address, including zip code, and telephone number, including area code, of agent for service)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company 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		WETG		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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On December 13, 2023, Ms. Annie Huang tendered her resignation as a Chief Financial officer of WeTrade Group Inc. (the “Company”), effective from December 13, 2023. Ms. Huang’s resignation was not result of any disagreement with the Company’s operations, policies or procedures.

 

On December 13, 2023, approved by the Board of Directors, the Nominating Committee and the Compensation Committee, Mr. Ken Tsang was appointed as the Chief Financial Officer of the Company, effective December 13, 2023.

 

The biographical information of Mr. Ken Tsang is set forth below:

 

Mr. Tsang is a fellow member of Association of Chartered Certified Accountants (“ACCA”) and member of Hong Kong Institute of Certified Public Accountants (“HKICPA”) with more than 15 years experiences in accounting, audit and assurance services with several listed and private companies operating in USA, Hong Kong and Mainland China. He has wide variety of industries experiences, including property developer, hotel and property management, investment companies, licensed corporations, entertainment solution companies, finance lease, factoring, general trading and manufacturing. Mr. Tsang also has extensive experiences in the capital market work and was engaged in several transactions and initial public offering in Hong Kong and USA. Mr. Tsang graduated with a bachelor’s degree at University of Hull, United Kingdom.

 

Mr. Tsang does not have a family relationship with any director or executive officer of the Company. He has not been involved in any transaction with the Company during the past two years that would require disclosure under Item 404(a) of Regulation S-K.

 

Mr. Tsang entered into an employment agreement with the Company and agreed to receive an annual compensation of $24,000, effective December 13, 2023. The employment agreement is qualified in its entirety by reference to the complete text of the agreement, which is filed hereto as Exhibits 10.1.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.		Description
10.1		Employment Agreement between Wetrade Group Inc. and Ken Tsang, dated December 13, 2023
104		Cover Page Interactive Data File (embedded within the Inline XBRL Document).

 

 

 

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.

 

	WETRADE GROUP INC.
Date: December 14, 2023	By:	/s/ Dong Li Cheng
	Name:	Li Cheng Dong
	Title:	Chairman of Board

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 10.1 

 

WeTrade Group Inc

 

Service Contract

 

This employment contract is made between WeTrade Group Inc. (a company incorporated in Wyoming, United States of America, hereafter the “Company”) at the address of Room 519, 05/F Block T3, Qianhai Premier Finance Centre Unit 2, Guiwan Area, Nanshan District, Shenzhen, China 518000. and Ken, Tsang (Identity Card No.) (the “CFO”) at the address of Flat B, 38/F, Tower East, Chelsea Court, 100 Yong K Road, Tsuen Wan, Hong Kong. The Employer and the Employee understand and agree to observe the terms of employment set out in this employment contract. Both parties understand that this employment contract is governed by the laws of Hong Kong (collectively, the “Legislation”).

 

1.

This services contract shall be for 24 months commencing on December 13, 2023 (day/month/year) (the “Contractual Period”).

 

2.

The person shall be employed by the Company as Chief Financial Officer to work under this employment contract, and date of this employment contract shall be December 13, 2023 (day/month/year)).

 

3.

The total monthly director remuneration shall be USD$2,000 will be effective from December 13, 2023. All of these are payable in the equivalent amount of either in Hong Kong Dollars. Any variances are mainly due to fluctuation of currency exchange.

 

4.

The Company shall comply with the provisions of the Employee’ Compensation Ordinance. The Eomployee shall be entitled to the rights, benefits and protection provided under the Employee’ Compensation Ordinance.

 

5.

The Employee shall and takes the full responsibility for proactively declaring and paying personal income tax according to the requirements of the relevant tax authorities in Hong Kong.

 

6.

Either party may terminate this employment contract under the following circumstances:

		(a) Resignation of Employee.
		(b) Expiration of Employee services contract.

 

7.

The Company shall provide a copy of this Employee service contract signed by both parties to the Employee for his/her retention.

 

8.

Any variation, amendment, cancellation or addition to any terms of this service contract (including the Schedule) must not extinguish or reduce any right, benefit or protection conferred upon the Employee by this service contract, and must be duly signed by both parties, otherwise it shall be void. The Company shall provide a copy of the amendments duly signed by both parties to the Employee for retention.

 

9.

This contract is governed by and shall be interpreted in accordance with Hong Kong law and the Company and the Employee hereby submit to the non-exclusive jurisdiction of the Hong Kong courts in connection with any matters arising hereunder.

 

IN WITNESS THEREOF, the Parties have hereby duly executed this Agreement on December 13, 2023.

 

Signature of Employee		Signature of Company’s representative
Name: Ken, Tsang		Name: Li Cheng, Dong
ID No.:		Post: Chairman
Date: December 13, 2023		Date: December 13, 2023

 

 

Cover	Dec. 13, 2023
Entity Addresses [Line Items]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Dec. 13, 2023
Entity File Number	001-41450
Entity Registrant Name	WeTrade Group Inc
Entity Central Index Key	0001784970
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	WY
Entity Address, Address Line One	Room 519, 05/F Block T3
Entity Address, Address Line Two	Qianhai Premier Finance Centre Unit 2
Entity Address, Address Line Three	Guiwan Area, Nanshan District, Shenzhen
Entity Address, City or Town	1621 Central Ave Cheyenne
Entity Address, Country	CN
Entity Address, Postal Zip Code	518000
City Area Code	852
Local Phone Number	[phone]
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	WETG
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Other Address [Member]
Entity Addresses [Line Items]
Entity Address, State or Province	WY
Entity Address, Postal Zip Code	82001

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