On May-15-2023, Irrevocable Trust for Raymond Ni announced that on May 12, 2023, it determined to withdraw its slate of nominees for election to the Board of HF Foods Group Inc at the annual meeting and it will not be soliciting any proxies in connection with the election of directors at the annual meeting. Irrevocable Trust expressed that notwithstanding its withdrawal of director nominees, it intends to monitor the situation at the Company closely and are concerned that the current Board is prioritizing self-preservation over the best interests of stockholders. The Board's rejection of the Irrevocable Trust' nominations, without identifying any specific deficiencies in the nomination notice, has only strengthened Irrevocable Trust' concerns regarding the direction of the Company under its current leadership.

As such, Irrevocable Trust will not hesitate to take any actions that they believe are necessary to protect the best interests of stockholders.