Fortune Valley Treasures, Inc. announced on June 25, 2024, Ms. Chaoping Chen tendered her resignation as a member of the board of directors of the company, effective immediately. Ms. Chen?s resignation was for personal reasons and was not the result of any disagreement with the Company?s management or the Board. On June 25, 2024, Mr. Kaihong Lin tendered his resignation as a director of the Company.

Mr. Lin?s resignation as a director was for personal reasons and was not the result of any disagreement with the Company?s management or the Board. Mr. Lin will continue to serve as the Chief Financial Officer of the Company. Effective June 28, 2024, the Board has accepted the resignations of Ms. Chaoping Chen and Mr. Kaihong Lin.

Effective June 28, 2024, the Board has elected Mr. Haibo Hong as a director of the Company to fill the vacancy created by Mr. Lin?s resignation. Mr. Haibo Hong has served as the General Manager of Dongguan Kedao Catering Culture Co. Ltd. from April 2020 to May 2024.

He had been the General Manager of Dongguan Xishun Energy Investment Co. Ltd. from March 2010 to March 2020. Mr. Hong graduated from Hunan Yongzhou Vocational and Technical College with an Associate degree in Pharmacy.