Hongliang Liu
About Hongliang Liu
Hongliang Liu (age 37) is Chief Technical Officer (CTO) of Next Technology Holding Inc. (NXTT), appointed March 1, 2025. He is a technical leader in SaaS and next‑generation MaaS (Model‑as‑a‑Service), with prior roles as Technical Expert at Chint Group Corp (since 2022) and Postdoctoral Researcher/Technical Lead at Ningshui Group (2017–2021). He holds a Ph.D. in Electrical Engineering from the University of Technology of Compiègne (Sorbonne University Group) earned in 2017, with multiple patents and contributions to standardization committees . Company performance context: NXTT’s FY2024 revenue was $1.80M (down from $2.50M in FY2023) while net income from continuing operations rose to $21.54M (from $3.02M), driven largely by fair value gains on digital assets; the last reported share price was $2.44 on Dec 31, 2024, and $0.28 on Apr 23, 2025, which led to a reverse split proposal to maintain Nasdaq listing compliance .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Chint Group Corp | Technical Expert (R&D Division) | 2022–present | Led multiple high‑priority initiatives; delivered solutions that set new industry benchmarks . |
| Ningshui Group | Postdoctoral Researcher and Technical Lead | 2017–2021 | Drove advanced technology development; led teams to significant breakthroughs . |
External Roles
| Organization/Body | Role | Years | Notes |
|---|---|---|---|
| Standardization Committees | Contributor | Various | Played a pivotal role shaping industry standards; multiple patents attributed to his work . |
Fixed Compensation
- Not disclosed in the 2024 NEO compensation table; Mr. Liu is not listed among Named Executive Officers (NEOs) for FY2024, and no salary/bonus amounts for the CTO are presented in the DEF 14A .
Performance Compensation
- No individual performance-based award detail (RSUs/PSUs/options, metrics/targets/payouts) is disclosed for Mr. Liu in the latest proxy or 10-K. The 2025 Equity Incentive Plan (if approved) enables options, stock appreciation rights, restricted stock/RSUs, and performance share awards for employees and directors, administered with committee discretion over vesting and performance measures .
Equity Ownership & Alignment
| Metric | As of Record Date | Notes |
|---|---|---|
| Shares beneficially owned | 0 | Listed executives/directors as a group held 0 shares; individual executive holdings not presented, implying Mr. Liu held 0 shares as of Apr 23, 2025 . |
| Ownership % of outstanding | 0.00% | Based on 436,265,135 shares outstanding on the record date . |
| Pledged/hedged | Prohibited | Company policy prohibits short sales, hedging, derivatives, and pledging of company stock by directors and executive officers . |
| Insider trading controls | Insider Trading Policy | Policy governs trading windows and restrictions; filed as an exhibit to the FY2024 10-K . |
| Clawback | Mandatory | Incentive Compensation Recovery Policy adopted in 2024; mandatory recoupment of incentive-based pay after restatements, regardless of misconduct . |
Employment Terms
- Start date and tenure: CTO role effective March 1, 2025 .
- Contract term/renewal, severance, non‑compete/non‑solicit, and garden leave: Not disclosed for the CTO in public filings reviewed .
- Change‑of‑control economics (plan-level): Under the proposed 2025 Equity Incentive Plan, upon termination without cause or for good reason within 12 months after a change‑in‑control, options/SARs become fully exercisable and RSU restrictions lapse; performance awards may be settled based on actual/target outcomes at committee discretion. The plan also permits cash‑out/cancellation in connection with a change‑in‑control and binds successors to obligations .
- Award mechanics: Non‑transferability (except by will/descent); options/SAR exercise price ≥ fair market value; 10‑year maximum terms; RSUs and restricted stock subject to vesting; performance awards with committee‑set goals and periods .
- Plan share pool: Up to 80,000,000 common shares authorized for grants under the 2025 Equity Incentive Plan (subject to stockholder approval) .
Performance & Track Record
Company operating results and balance sheet context:
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenue ($USD) | $2,500,000 | $1,800,000 |
| Net income from continuing operations ($USD) | $3,020,459 | $21,543,250 |
| Digital assets fair value ($USD) | $35,137,576 | $78,322,430 |
| Total assets ($USD) | $48,931,463 | $92,916,317 |
| Shares outstanding (context) | — | 436,265,135 (as of Mar 27, 2025) |
Additional developments affecting execution risk and trading dynamics:
- Material weaknesses in internal control over financial reporting (lack of US GAAP expertise, segregation of duties, review levels); disclosure controls deemed not effective as of FY2024 .
- Nasdaq minimum bid price deficiency notice (April 14, 2025) with a 180‑day compliance period to Oct 13, 2025; board pursuing measures to regain compliance .
- Board proposed reverse stock split (ratios between 1‑for‑10 and 1‑for‑250) to support regaining/maintaining listing compliance; closing price noted at $0.28 on the record date .
- Large unregistered equity issuance tied to 5,000 BTC acquisition on March 12, 2025 (Shares + Warrants exercised immediately by sellers), increasing outstanding shares materially .
Compensation Committee Analysis
- Committee composition: Jianbo Sun (Chair), Lichen Dong, Tian Yang, and Mahesh Thapaliya; all independent under Nasdaq rules .
- Responsibilities: Approves/oversees executive and director compensation, long‑term incentive/equity plans, and advisor independence; committee concluded programs do not create material adverse risk .
Investment Implications
- Alignment and retention: As of the record date, Mr. Liu held no shares, and his cash/equity compensation is undisclosed—current “skin in the game” appears limited; adoption and use of the 2025 Equity Incentive Plan will be important to introduce equity‑based alignment and retention hooks (with double‑trigger vesting protection in change-of-control) .
- Trading overhangs: The March 2025 BTC transaction involved immediate warrant exercises resulting in substantial share issuance, potentially elevating supply and pressure; reverse split discretion may further affect liquidity and investor base composition .
- Governance and controls: Material weaknesses in ICFR and ineffective disclosure controls elevate execution/reporting risk; monitor remediation progress and any equity grants to Mr. Liu that tie pay to software delivery KPIs (AI/SaaS growth, product milestones) given his role .
- Listing risk: Bid‑price deficiency and reverse split proposal reflect near‑term listing risk; outcomes of say‑on‑pay and equity plan votes will signal shareholder support for incentive alignment .