On March 4, 2020, the board of directors of Future FinTech Group Inc. received the resignation of Mr. Yongke Xue from his position as the Chief Executive Officer of the Company. Mr. Xue's decision to resign is not because of any disagreement with the company, its management or its other directors. On March 4, 2020, the Board received the resignation of Mr. Zhi Yan from his position as a member of the Board.

Mr. Yan's decision to resign is not because of any disagreement with the Company, its management or its other directors. On March 4, 2020, the board appointed Mr. Shanchun Huang (also known as Shawn Shanchuan Huang) as the company's Chief Executive Officer and a member of the Board to fill the vacancies created by the resignation of Mr. Xue and Mr. Yan. Mr. Huang has served as the president of Wealth Index (Beijing) Fund Management Co.

Ltd.