On April 26, 2021, Ms. Yvonne Wang was removed as a Chairwoman and director of Kiwa Bio-Tech Products Group Corporation by the consent of the holders of a majority of the votes entitled to be cast on the matter and the approval of the majority of the directors of the Company. Immediately thereafter, the Board appointed Mr. Wade Li as a Chairman and director of the Company to be effective immediately. There was not any matter of dispute between the Company and Ms. Wang. Mr. Wade Li was one of the founders of Kiwa Bio-Tech Products Group Corporation in 1999. Previously, he was employed by the People’s Insurance Company of China. In 1989, he established Xinhua International Market Development Co. Ltd. and served as its President, investing in a variety of growth industries companies of high-tech, pharmaceutical, medical, real estate and related enterprises.