Material Agreement (Form 8-K)

Item 1.01. Entry into a Material Definitive Agreement

Between June, 2025 and August, 2025, Next Technology Holding Inc., a Wyoming corporation (the "Company"), entered into four commercial customer agreements (each, an "Agreement") with customers in the hotel management, smart water-system management, and crypto mining industries. Under the Agreements, the Company agrees to provide AI-enabled monitoring and management systems, and relevant training and support services tailored to each customer's specific business needs, in exchange for service fees.

The Agreements provide for an aggregate committed contract value of approximately $12.59 million, consisting of recurring subscription and service fees to be paid by instalments over the contract term. Each Agreement includes customary service-level commitments, performance acceptance criteria, data-security and confidentiality covenants, payment terms, and termination rights. As of the date of this Current Report on Form 8-K, the Company has received approximately $5.09 million in service fees under the Agreements. In compliance with ASC 606, the Company recognized revenue of approximately $1.79 million with respect to the Agreements.

This summary of the Agreements does not purport to be complete and is qualified in their entirety by reference to the provisions of the respective Agreements, a copy of which is filed as Exhibits 10.1, 10.2, 10.3 and 10.4.

Item 8.01. Other Events

The Company continues to pursue a dual strategy of providing software development services and acquiring and holding bitcoin. The Company's AI-enabled software development services are primarily provided in Hong Kong, Singapore, and other Asian markets under a SaaS+AI model focused on customized development projects. Its platforms integrate cloud computing, big data, and AI algorithms to support industry-specific customized solutions with three core directions: 1) For the hospitality industry, develop AI-enabled security monitoring SaaS platforms; 2) For the water sector build smart water-energy synergy SaaS systems; 3) For the Bitcoin mining industry provide integrated solutions of liquid cooling hardware + SaaS group control management systems.

To support business development and expansion, the Company is scaling its organization. It currently employs 21 people, including an R&D team of approximately 10 engineers, and plans to expand to approximately 30 employees by the end of 2025.

As a result of the business expansion, the Company secured approximately $12.59 million in contracts in the first three quarters of 2025. Reference is made to the disclosure under Item 1.01 above, which is hereby incorporated in this Item 8.01 by reference. The Company is actively negotiating additional SaaS+AI contracts with an aggregate potential value of approximately $40 million which, if successfully executed, the Company believes will position it for further growth and expansion.