2023 Q4 - Annual Report

UNITEDSTATES SECURITIESANDEXCHANGECOMMISSIONWASHINGTON,D.C.20549 FORM20-F (MarkOne) ☐REGISTRATIONSTATEMENTPURSUANTTOSECTION12(b)OR12(g)OFTHESECURITIESEXCHANGEACTOF1934 OR oANNUALREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 ForthefiscalyearendedDecember31,2023OR ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 OR ☐SHELLCOMPANYREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 Dateofeventrequiringthisshellcompanyreport: ForthetransitionperiodfromtoCommissionfilenumber:001-38309 AGMGroupHoldingsInc. (ExactnameofRegistrantasspecifiedinitscharter) (TranslationofRegistrant’snameintoEnglish) BritishVirginIslands (Jurisdictionofincorporationororganization) c/oCreativeConsultants(HongKong)Limited Room1502-315/F.,ConnaughtCommercialBuilding,185WanchaiRoadWanchai,HongKong (Addressofprincipalexecutiveoffices) BoZhu,ChiefExecutiveOfficer +86-010-65020507 b.zhu@agmprime.com c/oCreativeConsultants(HongKong)Limited Room1502-315/F.,ConnaughtCommercialBuilding,185WanchaiRoadWanchai,HongKong (Name,Telephone,E-mailand/orFacsimilenumberandAddressofCompanyContactPerson)SecuritiesregisteredortoberegisteredpursuanttoSection12(b)oftheAct: TitleofeachclassTradingSymbol(s)Nameofeachexchangeonwhichregistered ClassAordinaryshares,parvalue $0.001pershare AGMH TheNasdaqStockMarketLLC(NasdaqCapitalMarket) SecuritiesregisteredortoberegisteredpursuanttoSection12(g)oftheAct:None SecuritiesforwhichthereisareportingobligationpursuanttoSection15(d)oftheAct:None Indicatethenumberofoutstandingsharesofeachoftheissuer’sclassesofcapitalorcommonstockasofthecloseoftheperiodcoveredbytheannualreport:24,254,842sharesofClassAordinarysharesand2,100,000sharesofClassBordinarysharesissuedandoutstandingasofDecember31,2023. Indicatebycheckmarkiftheregistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct. ☐Yes☒No Ifthisreportisanannualortransitionreport,indicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934. ☐Yes☒No Indicatebycheckmarkwhethertheregistrant:(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days. oYes☐No IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyeveryInteractiveDataFilerequiredtobesubmittedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitsuchfiles). oYes☐No Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,oranemerginggrowthcompany.Seedefinitionof“largeacceleratedfiler,”“acceleratedfiler,”and“emerginggrowthcompany”inRule12b-2oftheExchangeAct. Largeacceleratedfiler☐Acceleratedfiler☐Non-acceleratedfiler☒ Emerginggrowthcompany☐ IfanemerginggrowthcompanythatpreparesitsfinancialstatementsinaccordancewithU.S.GAAP,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandards†providedpursuanttoSection13(a)oftheExchangeAct.☐ Indicatebycheckmarkwhethertheregistranthasfiledareportonandattestationtoitsmanagement’sassessmentoftheeffectivenessofitsinternalcontroloverfinancialreportingunderSection404(b)oftheSarbanes-OxleyAct(15U.S.C.7262(b)bytheregisteredpublicaccountingfirmthatpreparedorissueditsauditreport.☐ IfsecuritiesareregisteredpursuanttoSection12(b)oftheAct,indicatebycheckmarkwhetherthefinancialstatementsoftheregistrantincludedinthefilingreflectthecorrectionofanerrortopreviouslyissuedfinancialstatements.☐ Indicatebycheckmarkwhetheranyofthoseerrorcorrectionsarerestatementsthatrequiredarecoveryanalysisofincentivebasedcompensationreceivedbyanyoftheregistrant’sexecutiveofficersduringtherelevantrecoveryperiodpursuantto§240.10D-1(b).☐ Indicatebycheckmarkwhichbasisofaccountingtheregistranthasusedtopreparethefinancialstatementsincludedinthisfiling: U.S.GAAP☒InternationalFinancialReportingStandardsasissuedOther☐ bytheInternationalAccountingStandardsBoard☐ If“Other”hasbeencheckedinresponsetothepreviousquestion,indicatebycheckmarkwhichfinancialstatementitemtheregistranthaselectedtofollow. ☐Item17☐Item18 Ifthisisanannualreport,indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b-2oftheExchangeAct). ☐Yes☒No TableofContents Page PARTI ITEM1. IDENTITYOFDIRECTORS,SENIORMANAGEMENTANDADVISERS 1 ITEM2. OFFERSTATISTICSANDEXPECTEDTIMETABLE 1 ITEM3. KEYINFORMATION 1 ITEM4. INFORMATIONONTHECOMPANY 42 ITEM4A. UNRESOLVEDSTAFFCOMMENTS 54 ITEM5. OPERATINGANDFINANCIALREVIEWANDPROSPECTS 55 ITEM6. DIRECTORS,SENIORMANAGEMENTANDEMPLOYEES 66 ITEM7. MAJORSHAREHOLDERSANDRELATEDPARTYTRANSACTIONS 76 ITEM8. FINANCIALINFORMATION 77 ITEM9. THEOFFERANDLISTING 78 ITEM10. ADDITIONALINFORMATION 79 ITEM11. QUANTITATIVEANDQUALITATIVEDISCLOSURESABOUTMARKETRISK 91 ITEM12. DESCRIPTIONOFSECURITIESOTHERT