WeTrade Group Inc. Reports Third Quarter 2020 Unaudited Financial Results

BEIJING,Dec. 3,2020 -- WeTrade Group Inc. ("Wetrade" or the "Company") (US: WETG),an emerging growth company engaged in the business of providing technical services and solutions via its membership-based social e-commerce platform,today reports its unaudited financial results for the third quarter endedSeptember 30,2020.

Mr. Pijun Liu,Chief Executive Officer of Wetrade,commented,"We are very pleased to report our markets and businesses continue to prove resilient in the face of a challenging macro-environment of COVID-19. Our third quarter results were above our expectations across the group from the top line to the bottom line. Revenue and net income were recorded $2.01 million and $0.74 million respectively. Our Q3 gross margin reached 78.7%,proving our strong profitability."

Mr. Liu continued,"The competition among merchants on mainstream ecommerce platforms in China is intensifying,which creates opportunities for WeChat e-commerce(micro-business) and benefits its service providers like us. As a new decentralized model,WeChat e-commerce is the inevitable development of the next era and small and medium-sized merchants are the inevitable choice to seize traffic. Our customers are adapting to a new cadence in this environment,and we continue to adapt to support them in their evolving ways of working. The number of WeChat e-commerce users is expected to reach 100 million,200 million and 360 million by the end of 2020,2021 and 2022 respectively,demonstrating micro-business is a high-growth industry with a large total addressable market. To address this market,we independently developed a cloud intelligent system ("YCloud") for WeChat e-commerce through big data learning,social connection building,multi-channel data analysis,etc. We are engaging in providing better cloud intelligent solutions for micro-business users."

Mr. Kean Tat Che,Chief Financial Officer of Wetrade,"We are very pleased to see that the Company maintains a sustained and rapid development. The revenue growth this quarter mainly comes from the Company's technology and supply chain empowerment which enables customers to rapidly expand their consumer groups and establishing solid consumer base form a stable repurchase. YCloud in Q3 has served many customers including 12 million individuals,60,000 Wechat group owners and over 2,000 hotels. Looking forward,we will focus on in-depth empowerment of new applications in the vertical field of WeChat e-commerce business,providing more scene-based applications and seeking new partnerships to explore new opportunities."

Third Quarter of 2020 Financial Results

For the Three Months Ended September 30,

($ millions,except per share data)

2020

2019

% Change

Revenue

2.01

-

NM

Gross Profit

1.58

-

NM

Gross Margin

78.7%

-%

NM

Operations Profit/(Loss)

1.18

(0.11)

NM

Net Income/(Loss)

0.74

(0.11)

NM

Earnings/(Loss) Per Share

0.00

(0.00)

NM

*Notes: pp represents percentage points

Revenue

Total revenue was $2.01 million for the three months ended September 30,2020,compared with nil for the same period of last year,which was mainly due to increase in service revenue generated from auto-billing management system from micro-business users.

Cost of Sales

Total cost of sales was $0.43 million for the three months ended September 30,compared with nil for the same period of last year.

Gross profit and gross margin

Gross profit was $1.58 million for three months ended September 30,compared with nil for the same period of last year.

Gross margin was 78.7% for the three months ended September 30,compared with nil for the same period of last year.

Operations Profit/(Loss)

General and administrative expenses increased by $0.30 million,or 267.0%,to $0.41 million for the three months ended September 30,2020 from $0.11 million for the same period of last year. The increase was mainly due to increase in the payroll expenses as a result of 77 new staffs were recruited during the period.

Operations profit was $1.18 million for the three months ended September 30,compared with operations loss of $0.11 million for the same period of last year.

Net Income (loss)

Net income was $0.74 million for the three months ended September 30,compared with net loss of $0.11 million for the same period of last year. Basic and diluted earnings per share was nil for the three months ended September 30,compared with nil for the same period of last year.

Nine months ended September 30,2020 Financial Results

For the Nine Months Ended September 30,except per share data)

2020

2019

% Change

Revenue

2.89

-

NM

Gross Profit

2.37

-

NM

Gross Margin

82.2%

-%

NM

Operations Profit/(Loss)

1.76

(0.26)

NM

Net Income/(Loss)

1.31

(0.26)

NM

Earnings/(Loss) Per Share

0.00

(0.00)

NM

*Notes: pp represents percentage points

Revenue

Total revenue was $2.89 million for the nine months ended September 30,which was mainly from the service revenue generated from auto-billing management system from customers.

Cost of Sales

Total cost of sales was $0.52 million for the nine months ended September 30,compared with nil for the same period of last year.

Gross profit and gross margin

Gross profit was $2.37 million for nine months ended September 30,compared with nil for the same period of last year.

Gross margin was 82.2% for the nine months ended September 30,compared with nil for the same period of last year.

Operations Profit/(Loss)

General and administrative expenses increased by $0.36 million,or 142.0%,to $0.62 million for the nine months ended September 30,2020 from $0.26 million for the same period of last year. The increase was mainly due to increase in the payroll expenses as a result of 77 new staffs were recruited during the period.

Operations profit was $1.76 million for the nine months ended September 30,compared with operations loss of $0.26 million for the same period of last year.

Net Income/(loss)

Net income was $1.31 million for the nine months ended September 30,compared with net loss of $0.26 million for the same period of last year. Basic and diluted earnings per share was nil for the nine months ended September 30,compared with nil for the same period of last year.

Financial Condition

As of September 30,the Company had cash and cash equivalents for $6.79 million,compared to $6.59 million as of December 31,2019. Net cash used in operating activities was $1,042,610 for the nine months ended September 30,compared to $509 for the same period of last year. Net cash provided by financing activities was $0.84 millionfor the nine months ended September 30,compared to $0.22 million for the same period of last year.

About WeTrade Group Inc.

WeTrade Group Inc. is an emerging growth company engaged in the business of providing technical services and solutions via its membership-based social e-commerce platform and the Company targets to provide technical and auto-billing management services for 100 million micro-business users in China. Wetrade has conducted its business operations in mainland China and trial operation in Hong Kong,Philippines and Singapore. WeTrade has also formed the long-term technical cooperation with Yuetao App,Daren App,Yuebei App,Jingdong App,Yuedian App and Lvyue App. For more information,please visit http://www.wetradegroup.net.

Forward-Looking Statements

This press release contains information about the Company's view of its future expectations,plans and prospects that constitute forward-looking statements.Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including,but not limited to,risks and uncertainties associated with its ability to raise additional funding,its ability to maintain and grow its business,variability of operating results,its ability to maintain and enhance its brand,its development and introduction of new products and services,the successful integration of acquired companies,technologies and assets into its portfolio of products and services,marketing and other business development initiatives,competition in the industry,general government regulation,economic conditions,dependence on key personnel,the ability to attract,hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients,and its ability to protect its intellectual property.The Company's encourages you to review other factors that may affect its future results in the Company's annual reports and in its other filings with the Securities and Exchange Commission.

For more information,please contact:

WeTrade Group Inc.

ir@wetradegroup.net

Ascent Investor Relations LLC

Tina Xiao

+1-917-609-0333

tina.xiao@ascent-ir.com

WETRADE GROUP INC

BALANCE SHEETS

(All amounts shown in U.S. Dollars)

September 30,

2020

December 31,

2019

(unaudited)

(audited)

ASSETS

Current Assets:

Cash and Cash Equivalents

$

6,787,535

$

6,591,128

Accounts Receivables

1,030,920

-

Other receivables

276,400

-

Prepayments

197,097

-

Non current Assets:

Right of use assets

2,832,007

-

Intangible asset,net

77,196

-

Prepaid expense

10,327

-

Total Assets:

11,211,481

6,128

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:

Accrued expenses

220,412

32,000

Taxpayables

556,802

-

Amount due to related parties

416,500

1,754,515

Lease liabilities,current

304,973

-

Total Current Liabilities

1,498,687

1,786,non- current

2,581,882

-

Total Liabilities

4,080,569

1,515

Stockholders' Equity:

Common Stock; $0.00 per share par value; 305,451,498 issued and outstanding at September 30,

2020 and 300,222,000 issued and outstanding at December 31,2019*

-

-

Additional Paid in Capital

6,057,520

222,020

Share to be issued

-

5,000,000

Accumulated other comprehensive income (loss)

183,673

-

Retained Earning/ (Accumulated Deficit)

889,719

(417,407)

Total Stockholders' Equity

7,130,912

4,804,613

Total Liabilities and Stockholders' Equity

$

11,481

$

6,128

*Share and per share amounts have been retroactively adjusted to reflect the increased number of shares resulting from a 1:3 stock split.

WETRADE GROUP INC

STATEMENTS OF OPERATIONS

Unaudited

Three

Months

ended S

eptember

30

2020

Three

Months

ended

September

30

2019

Nine

Months

ended

September

30,

2020

From

inceptionto

September 30,2019

Revenue:

Service revenue,non-related party

518,269

-

$

518,269

-

Service revenue,related party

1,493,829

2,370,192

Total Revenue:

2,012,098

2,888,461

Cost of revenue

(427,647)

(515,195)

Gross Profit

1,584,451

-

2,373,266

-

Operating Costs and expenses:

General and Administrative

407,067

110,921

617,216

255,010

Operations Profit/ (Loss)

1,177,384

(110,921)

1,756,050

(255,010)

Other income/ (loss)

38,939

-

39,060

Net Profit/ (Loss) before Income Tax

1,216,323

(110,921)

1,795,110

(255,010)

Income tax expense

475,431

-

487,984

-

Net income (loss) attributable to noncontrolling interest

740,893

(110,307,126

(255,010)

Other Comprehensive Income (Loss)

Foreigncurrencytranslationadjustment

244,292

-

183,826

-

Total comprehensive Income (Loss)

985,185

(110,490,952

(255,010)

Basic and Diluted Net Income (Loss) per share:

0.00

(0.00)

0.00

(0.00)

Weighted average number of shares outstanding*; Basic and

Diluted

308,704,888

300,073,998

304,166,073

300,024,666

*Share and per share amounts have been retroactively adjusted to reflect the increased number of shares resulting from a 1:3 stock split.

WETRADE GROUP INC

STATEMENTS OF CASH FLOWS

From the

period

March 28,

2019

Forthe

Period

September

30,2020

(Inception)

to

September

30,2019

(unaudited)

(unaudited)

Cash Flows from Operating Activities:

Net Income/ (Loss)

$

1,126

(255,010)

Changes in Operating Assets and Liabilities:

Trade Receivables

(1,028,044)

-

Other receivables

(275,629)

-

Prepaid expenses

(206,845)

-

Amount due to related parties

(560,020)

144,501

Intangible assets

(76,980)

-

Accrued expenses

187,839

110,000

Taxpayables

555,248

-

Right of use assets

(824,106)

-

Lease liabilities

878,801

-

Net Cash Flows Used in Operating Activities:

(1,610)

(509)

Cash flow from financing activities:

Proceeds from issuance of common stock

835,500

222,020

Net cash provided by financing activities:

835,500

222,020

Effect of exchange rate changes on cash

403,517

-

Change in Cash and Cash Equivalents:

196,407

221,511

Cash and Cash Equivalents,Beginning of Period

6,128

-

Cash and Cash Equivalents,End of Period

$

6,535

221,511

Supplemental Cash Flow Information:

Cash paid for interest

$

-

-

Cash paid for taxes

-

-

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