Effective April 9, 2021, the Board of Directors of Fortune Valley Treasures, Inc. appointed Bulin Wang, Bin Li, Jianwei Lin, Yumei Liu, Chaoping Chen and Ramesh Ruben Louis to the Board of the Registrant as independent directors. In addition, the Board also appointed Minghua Cheng as a director of the Registrant. Mr. Lin, Ms. Liu and Mr. Louis will each serve on the Board's Audit Committee; Dr. Li, Ms. Liu and Mr. Wang will each serve on the Compensation Committee; and Dr. Li, Ms. Chen and Mr. Wang will each serve on the Nominating and Corporate Governance Committee. Each such director is independent under the rules of the SEC and NASDAQ. Mr. Lin will serve as the chair of the Audit Committee, Dr. Li will chair the Nominating and Corporate Governance Committee, and Mr. Wang will chair the Compensation Committee.