Item 1.01 Entry into a Material Definitive Agreement.

The information set forth in Item 1.02 below is hereby incorporated by reference into this Item 1.01.

Item 1.02 Termination of a Material Definitive Agreement.

As previously disclosed, on January 6, 2021, Fortune Valley Treasures, Inc. (the "Company"), along with Daxing Huashang (Hong Kong) Investment Co., Ltd, a Hong Kong company and a wholly-owned subsidiary of the Company ("DILHK"), entered into an equity interest transfer agreement (the "Equity Transfer Agreement") with Valley Holdings Limited ("Valley Holdings"), a Hong Kong company, and Angel International Investment Holdings Limited ("Angel International"), a shareholder owning 70% of the equity interest in Valley Holdings. Valley Holdings owns approximately 88% of the equity of Valley Foods Holdings (Guangzhou) Co., Ltd., a food wholesale and food additives production and sales company in China. Under the Equity Transfer Agreement, DILHK agreed to purchase Angel International's 70% equity in Valley Holdings in exchange for shares of common stock of the Company.

On July 8, 2022, the Company, DILHK, Angel International and Valley Holdings entered into a termination agreement (the "Termination Agreement") pursuant to which the parties agreed to terminate the Equity Transfer Agreement. The Equity Transfer Agreement was terminated effective as of July 8, 2022 and the parties have no further rights or obligations under the Equity Transfer Agreement. The parties further agreed to waive their rights to any claims that may arise under the Equity Transfer Agreement. As of the date of the Termination Agreement, no equity interest of Valley Holdings had been transferred to DILHK.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits.



Exhibit No.   Description
   10.1         Termination Agreement dated July 8, 2022 (English translation)
    104       Cover Page Interactive Data File (embedded within the Inline XBRL
              document)

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