On April 21, 2022, Mr. Minghua Cheng tendered his resignation as a member of the board of directors (the “Board”) of Fortune Valley Treasures, Inc. (the “Company”), effective April 21, 2022. Mr. Minghua Cheng's resignation was for personal reasons and was not due to any disagreement with the Company, its management or the Board. The Board accepted Mr. Minghua Cheng's resignation on April 21, 2022.