Future FinTech Announces Changes to its Management and Board of Directors

Rhea-AI Summary

Future FinTech Group Inc. (NASDAQ: FTFT) announced significant changes to its management and Board of Directors on June 30, 2025. The company reported the resignations of Mr. Ming Yi (CFO), Mr. Fuyou Li (Chairman of the Board), and Ms. Ying Li (Director and Vice President), effective June 20, 2025.

To fill these positions, FTFT appointed Ms. Ting (Alina) Ouyang as the new CFO and Board Director, and Mr. David Xu as the new Chairman of the Board on June 26, 2025. Ms. Ouyang, 40, previously served as the company's Financial Controller and brings over 10 years of senior financial management experience. Mr. Xu, 38, comes with extensive experience in financial services and investment banking, having worked at China CITIC Bank and China Construction Bank.

CEO Li Hu expressed confidence that the new leadership will help drive the company's global business plan and enhance long-term value for stakeholders.

Positive

• Internal promotion of Ms. Ouyang to CFO demonstrates succession planning and continuity
• New CFO brings over 10 years of senior financial management experience and CMA certification
• New Chairman brings extensive experience in IPOs and capital markets from major Chinese banks
• Departing executives left without any disagreements on company operations or policies

Negative

• Simultaneous departure of three key executives (CFO, Chairman, and Vice President)
• Significant leadership transition may create temporary organizational adjustments

NEW YORK, June 30, 2025 /PRNewswire/ -- Future Fintech Group Inc. (NASDAQ: FTFT), (hereinafter referred to as "Future FinTech", "FTFT" or the "Company"), a comprehensive financial and digital technology service provider, today announced certain changes to its management and Board of Directors.

On June 20, 2025, Mr. Ming Yi resigned from his position as the Chief Financial Officer of the Company, Mr. Fuyou Li resigned from his position as the Chairman of the Board and as a member of the Board's audit and compensation committees, and Ms. Ying Li resigned from her positions as a director of the Board and the Vice President of the Company. The resignations of Mr. Ming Yi, Mr. Fuyou Li and Ms. Ying Li from these positions were not a result of any disagreement with the Company on any matter related to the operations, policies, or practices of the Company. To fill these vacancies, on June 26, 2025, the Company's Board of Directors appointed Ms. Ting (Alina) Ouyang as a director of the Board and the Chief Financial Officer of the Company, and Mr. David Xu as the Chairman of the Board and as a member of the Board's audit and compensation committees of the Company.

Ms. Ting Ouyang, age 40, has served as the Financial Controller of the Company since August 2020. Ms. Ouyang also served as Internal Control Manager of the Company from September 2020 to December 2023. Prior to that, Ms. Ouyang served as the Chief Financial Officer of Wealth Index Capital Group from March 2016 to September 2020. Ms. Ouyang is a Certified Management Accountant (CMA) in the United States. Ms. Ouyang has over 10 years of senior financial management experience and is proficient in financial disclosures, ESG reporting, and investor relations for public companies listed in China, the United States, and Hong Kong. She has led multiple cross-border mergers and acquisitions as well as financing projects and is fluent in English and Mandarin. Ms. Ouyang obtained her Bachelor's degree in Business Administration from Beijing Union University in 2008.

Mr. David Xu, age 38, has extensive experience in financial services, enterprise management and investment banking. From July 2022 to May 2025, Mr. Xu served as a middle and senior manager at China CITIC Bank, a comprehensive financial services provider, where he was responsible for assisting companies in going public. From June 2020 to July 2022, he served as a middle manager at China Construction Bank, where he focused on helping companies secure funding and complete initial public offerings. Mr. Xu has been deeply involved in the public exchange listings of several prominent companies in both China and the overseas capital markets. He possesses in-depth knowledge of the listing procedures, regulatory frameworks and market environments across major international capital markets. Mr. Xu obtained his Master's degree in Business Administration from The Australian National University in 2020 and his Master's degree in Law from the University of International Business and Economics in 2011.

Mr. Li Hu, CEO of Future FinTech, said, "First and foremost, we want to express our deepest appreciation to our departing colleagues, Mr. Fuyou Li, Mr. Ming Yi and Ms. Ying Li. Their extensive professional knowledge and practical experience have been instrumental in driving our company forward, and their contributions will always be remembered."

"We are also excited to introduce our new CFO, Ms. Ting Ouyang. Since joining our team in 2020, Ms. Ouyang has been an invaluable asset. Her deep expertise in financial management and her proven track record will play a pivotal role in executing our cost-optimization strategies and enhancing our overall financial management efficiency."

"Additionally, we warmly welcome Mr. David Xu as the new Chairman of the Board. With his demonstrated leadership skills and deep experience in financial strategy, we are confident that his insights will help to shape and guide our global business plan. His understanding of capital markets and investment structures will add great value to our long-term goals."

"I firmly believe that under the new leadership of our board, we will embark on a new chapter of growth, ensure sustainable development and significantly increase the Company's long-term value for all stakeholders," CEO Li Hu concluded.

About Future Fintech Group Inc.

Future FinTech Group Inc. (NASDAQ: FTFT) is a comprehensive financial and digital technology service provider. The Company, through its subsidiaries, conducts brokerage and investment banking services in Hong Kong, and engages in supply chain trading and finance businesses in China and efficient digital financial services. For more information, please visit www.ftft.com.

Safe Harbor Statement

Certain statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements regarding our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors that may be beyond our control, which may cause the actual results, performance, capital, ownership, or achievements of the Company to be materially different from those implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements by our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions relating to the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, the risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2024 and our other reports and filings with the SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise, or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements are otherwise made.

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SOURCE Future FinTech Group Inc.

FAQ

Who are the new executives appointed at Future FinTech (NASDAQ:FTFT)?

FTFT appointed Ms. Ting (Alina) Ouyang as CFO and Board Director, and Mr. David Xu as Chairman of the Board on June 26, 2025.

Why did the executives resign from Future FinTech (FTFT)?

According to the announcement, the resignations of Mr. Ming Yi, Mr. Fuyou Li, and Ms. Ying Li were not due to any disagreements with the company regarding operations, policies, or practices.

What is Ting Ouyang's background at Future FinTech?

Ms. Ouyang has served as FTFT's Financial Controller since August 2020 and Internal Control Manager from September 2020 to December 2023. She is a Certified Management Accountant with over 10 years of senior financial management experience.

What is David Xu's professional experience before joining FTFT?

Mr. Xu previously worked as a senior manager at China CITIC Bank (2022-2025) and at China Construction Bank (2020-2022), focusing on IPOs and company funding.

When did the management changes at Future FinTech (FTFT) take effect?

The resignations took effect on June 20, 2025, and the new appointments were made on June 26, 2025.