On July 1, 2015, Mr. Wei Li resigned as President, Chief Executive Officer and Chief Operating Officer and Mr.
Steven Ning Ma resigned as Chief Financial Officer of Kiwa Bio-Tech Products Group Corporation. To the knowledge of the Company's executive officers, the resignations of Mr. Li and Mr. Ma are not the result of any disagreement with the Company on any matter related to the Company's operations, policies or practices. Effective as of July 1, 2015 upon the resignations of Mr. LI and Mr. Ma, the Company appointed Mr. Jimmy Ji Zhou as the Company's President, Chief Executive officer and interim Chief Financial Officer. Mr. Zhou was employed by AXA Advisors LLC ("AXA") in California as a financial advisor from 2000 to 2007. He became a Certified Estate Planner (CEP) and a Registered Financial Consultant (RFC) with AXA in 2005.