Fortune Valley Treasures, INC

Fortune Valley Treasures, Inc. reports the resignation of its CFO, Lin Kaihong, and the appointment of its CEO, Yuwen Li, as the new CFO, effective May 15, 2025.

Fortune Valley Treasures has identified material errors in its financial statements for the first two quarters of 2024 and will restate them, indicating a material weakness in internal controls.

Fortune Valley Treasures, Inc. has changed its independent registered public accounting firm from YCM CPA Inc. to Astra Audit & Advisory LLC.

Jianwei Lin has resigned from the board of directors of Fortune Valley Treasures, Inc. effective August 20, 2024, due to personal reasons.

Fortune Valley Treasures, Inc. announces the resignation of director Anthony S. Chan and the appointment of Fang Li as Chairman of the Audit Committee.

Fortune Valley Treasures, Inc. has appointed Fang Li as an independent director to fill a board vacancy, effective July 17, 2024.

Fortune Valley Treasures, Inc. experienced a substantial decrease in revenue and a net loss for the second quarter of 2024, primarily due to reduced sales volume and lower wine prices.

Fortune Valley Treasures, Inc. experienced a substantial decrease in revenue and a net loss in the first quarter of 2024, primarily due to lower sales volume and reduced wine prices.

Fortune Valley Treasures, Inc.'s 10-K filing details its registered common stock, corporate structure, and compliance with regulations, while also highlighting risks associated with its China-based operations.