Corporate Governance - Future FinTech Group Inc.

Corporate Governance

BOARD OF DIRECTORS

Yongke Xue, Permanent Honorary chairman

Mr. Yongke Xue is the founder of Future Fintech Group, who led the company to a successful listing on NASDAQ in 2010. With his keen business sense and bold decision-making ability, he has successfully grasped business opportunities time and again, and has made a global layout in the field of financial technology and made the asset scale reach billions.

Mr. Yongke Xue graduated from the National University of Defense Technology majoring in metal materials and heat treatment and studied at Xi'an Jiaotong University for his Ph.D. In 2015, Mr. Xue Yongke co-authored with Mr. Li Fuyou's book "Research on the Efficiency, Influence, and Development of Private Investment in Western China" in China's Private Capital Research Series, which was publicly released, and was widely praised in the industry, not only providing entrepreneurs with a wealth of case studies and practical suggestions, but also providing social capital with a wealth of information. The book is widely praised in the industry, which not only provides rich cases and practical suggestions for the entrepreneurs, but also provides theoretical help for the social capital's development investment and economic construction in the west.

While realizing his career plan, Mr. Xue Yongke has not forgotten to give back to the society. Mr. Xue Yongke has initiated the establishment of "Heide Tang Scholarship Foundation", "Hope Primary School" and other public welfare projects, which have made great contributions to the education of more young people in the poor mountainous areas of the Yi ethnic minority.

At 13:14 on November 24, 2023, Mr. Yongke Xue passed away at the age of 57 due to illness. The Board of Directors of the Group decided to confer Mr. Yongke Xue as the permanent honorary chairman of Future FinTech Group in recognition of his outstanding contributions.

Fuyou Li, Director and Chairman of the Board

Mr. Fuyou Li has served as a member of the Board and a member of the audit and compensation committees of the Board since May 8, 2015. Mr. Li was appointed as the Chairman of the Board on June 23, 2021. Mr. Li graduated from Xi’an Jiaotong University with a doctor’s degree in economics. He has taught international finance as a professor at Xi’an Jiaotong University since 2000. The Board believes his qualifications, professional background and expertise in international finance are important to the Company and the Board.

Shanchun Huang, Director and Chief Executive Officer

Mr. Shanchun Huang has served as the Chief Executive Officer of the Company and a member of the Board since March 4, 2020. He served as the president of Wealth Index (Beijing) Fund Management Co., Ltd., which provides private equity fund management service, from March 2011 to March 2020, and as the president of Wealth Index (Beijing) International Investment Consulting Co., Ltd., which provides investment management and consulting services for non-securities related business, from August 2004 to March 2020. From May 2001 to June 2004, Mr. Huang was the vice president of Zhejiang Geely Holding Group Corporation, a global automobile company headquartered in Hangzhou, China. Mr. Huang graduated from Hefei Staff University of Science and Technology in July 1986, majoring in news collection and editing. The Board believes that Mr. Huang’s significant experience in investment and management will be an asset to the Company and the Board.

YING LI, Director

Ms. Ying Li, age 33, has served as a director of Alpha International Securities (HONG KONG ) Limited since September 9, 2020 and as a director of Alpha International Financial Holdings Limited since February 5, 2020. Ms. Li has served as the vice president of the Company and a director of Future FinTech (Hong Kong) Limited, a wholly owned subsidiary of the Company, since July 2016. From October 2011 to December 2019, Ms. Li served as the secretary of the Board of the Company. Ms. Li received her bachelor’s degree in English from Xi`an International Studies University in July 2010. The Board believes that Ms. Li’s extensive business and operational knowledge of the Company qualifies her as a member of the Board.

Johnson Lau, Director

On December 23, 2014, the Board appointed Johnson Lau as a member of the Board of Directors of the Company. Mr. Lau is also the Chairman of Audit committee of the Board and a member of the Compensation Committee of the Board.

Mr. Lau is the Chief Financial Officer of Dafy Holdings Limited, a company listed in Hong Kong Stock Exchange Limited (HKEX: 1826.HK) since August 2018. Mr. Lau is a Certified Public Accountant of the Hong Kong Institute of Certified Public Accountants and CPA Australia. Mr. Lau has over 20 years of experience in the accounting profession. Mr. Lau started his career in Deloitte in Hong Kong and Beijing from 1997 to 2004. Prior to joining Dafy Holdings Limited in 2018, Mr. Lau worked in various public companies in the United States and England as Director of Finance and CFO for over ten years. Mr. Lau was the chief financial officer and was subsequently an executive director of Haike Chemical Group Limited, a company listed on the London Stock Exchange (LSE code: HAIK), from December 2006 to March 2009. Mr. Lau subsequently resigned as chief financial officer and was redesignated as a non-executive director of Haike Chemical Group Limited in March 2009 and retired as a non-executive director in January 2010. From April 2009, Mr. Lau was employed by Auto China International Limited, a company listed on the NASDAQ Capital Market and subsequently quoted on the OTC Markets (OTC: AUTCF) as chief financial officer. He was redesignated as the director of finance in July 2009 and subsequently departed in June 2013. From June 2010 to January 2013, Mr. Lau was an independent director of Lizhan Environmental Corporation. Mr. Lau was the chief financial officer of SGOCO Group, Ltd. (NASDAQ: SGOC) from July 2013 to June 2015. Mr. Lau was the chief financial officer of China Golden Classic Group Limited (HKEX: 8281.HK) from July 2015 to July 2018. He was an independent non-executive director of Winshine Science Company Limited (HKEX: 209.HK) from October 2017 to April 2019. Mr. Lau holds a bachelor degree in commerce from Monash University, Australia. The Board believes that Mr. Lau’s extensive knowledge and experience in accounting and his public company experience is important to the Company’s internal controls and financial reporting and its status as a US publicly traded company.

Mingjie Zhao, Director

Mr. Mingjie Zhao was appointed as a member of the Board and Chairman of the Compensation Committee and a member of Audit Committee of the Board on July 15, 2020. Mr. Zhao has served as a director of New York Hua Yang, Inc. since April 2018. From July 2016 to March 2018, Mr. Zhao served as Chief Executive Officer of TD Holdings, Inc. (formerly known as China Commercial Credit Inc. and Nasdaq: CLG). Mr. Zhao was the Chief Operating Officer and a director of New York Hua Yang, Inc. from September 2011 to July 2016. Mr. Zhao obtained his Master of Business Administration degree from University of Bridgeport in Connecticut in May 2003 and his Bachelor of Science degree from China Eastern Normal University in Shanghai, China in July 1985. The Board believes that Mr. Zhao’s experience and extensive knowledge in management and public company is essential to the Company.

MANAGEMENT TEAM

Honorary Chief Economist

Finn Erling Kydland (born 1 December 1943) is a Norwegian economist known for his contributions to business cycle theory. He is the Henley Professor of Economics at the University of California, Santa Barbara. He also holds the Richard P. Simmons Distinguished Professorship at the Tepper School of Business of Carnegie Mellon University, where he earned his Ph.D., and a part-time position at the Norwegian School of Economics (NHH). Kydland was a co-recipient of the 2004 Nobel Memorial Prize in Economics with Edward C. Prescott, "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles."

June 17, 2021, Dr. Kydland joined Future Fintech Group as Honorary Chief Economist.

Shanchun Huang, Director and Chief Executive Officer

Ola J. Lind, Chief Strategy Officer

Mr. Lind is an award-winning digital transformation start-up entrepreneur with an established track record in developing and implementing new technology strategies in the mobile, blockchain and cyber-security industry over a 20+ year span. From 2000 through 2021, Mr. Lind was a co-founder of six start-ups on four continents. His achievements include:

Winner of "Best Digital Start-Up" at 4YFN Mobile World Congress Americas in 2017, San Francisco

Winner of "Mobile, Media & Gaming" category, and Runner-Up at Echelon Asia Top 100 Startup, in 2017.
In addition to being appointed CEO of FTFT Capital, Mr. Lind continues to serve as a Director of FTFT Capital, overseeing its global cryptocurrency market data platform FTFTX, and has been in this position from April of 2021 to the present. Prior to this, Mr. Lind was Director of Business Development at Dotlines Group in Singapore from September 2017 to April of 2021, where he was responsible for implementing digital services and products for international expansion. Mr. Lind was also Director of Strategy for Onliner (Laos) Co., Ltd in Laos from October 2018 to April of 2021, where he implemented digital e-wallet and payment gateway strategies.

Ming Yi, Chief Financial Officer

On November 30, 2020, the Board of the Directors appointed Mr. Ming Yi as the Chief Financial Officer (“CFO”) of the Company.

Mr. Yi, age 41, has served as an independent director of Hudson Capital Inc. (Nasdaq: HUSN) since March 31, 2020. Mr. Yi was the Chief Financial Officer of SSLJ.com Limited from July 2018 to July 2019. From June 2011 to August 2018, Mr. Yi was the Chief Financial Officer and a board member of Wave Sync Corp. (formerly known as China Bio-Energy Corp). From September 2009 to April 2011, he served as a senior manager at Qi He Certified Public Accountants Co. Ltd. Form July 2007 to August 2010, Mr. Yi was a senior auditor at Ernst & Young. Mr. Yi received his Bachelor of Science degree in Accounting from School of Business Administrations of Liaoning University in 2004 and his Master of Science degree in Accounting and Finance from Victory University, Australia in 2006. Mr. Yi is a Certified Public Accountant in Australia.

Iris Zhao, Chief Investment Officer

Ms. Iris Zhao has 10 years of experience in building and advising corporations through M&A and capital market transactions globally. Ms. Zhao is responsible for managing and coordinating company’s investment, liquidity and asset liability management in order to optimize investment performance within the risk management guidelines. At the same time, to monitor company’s portfolio of assets, devise strategies for growth, act as the liaison with investors, and recognize and avoid serious risks. Ms. Zhao is proficient in road-shows presentation, structuring and negotiating transactions and terms with international investment communities, governmental authorities and corporate finance.

Ms. Zhao served as the Managing Partner of Wealth Index (Beijing) Fund Management Co., Ltd., which is a top financial advisory service corporation which focuses on financial advisory, private equities investment and investment banking businesses. From January 2011 to February 2019, Ms. Zhao was in charge of international business planning and developing, investor relationship support and relationships with global investors.

In her early career, Ms. Zhao worked at SUNTV Video LTD as a Specialist in NYC. She brings experience of the media, business negotiation, and is familiar with international business activities. Bachelor of finance of New York City University and Montana State University. MBA from UP Diliman. Awarded Bachelor of Science with highest honor in Finance. Appointed to Beta Gamma Sigma, international association of elite business schools. Ms. Zhao is the Dame of Grace of the Order of Saint Lazarus of Jerusalem, and the first Commander of the Grand Priory of China.

Peng Lei, Chief Operating Officer

On August 2, 2023, the Company appointed Mr. Peng Lei as the Chief Operating Officer (“COO”) of the Company.

Lei Peng, male, 46 years old, is an experienced senior financial manager with more than 20 years of experience in a series of fields including finance, banking, investment funds and corporate structure. Mr. Lei has served as the general manager of FTFT Business Management Co., Ltd. since February 2022, and the president of the China Financial Division of Future FinTech Group. From July 2019 to July 2022, he initiated the establishment of Xi'an Dingtaiheng Supply Chain Management Co., Ltd. and Ningbo Tielin Supply Chain Management Co., Ltd. and served as the general manager to develop the financial business of the coal supply chain. He served as the president of Xi'an Zhonglou Sub-branch of Shanghai Pudong Development Bank for one month, participated in the preparation of almost all equity investment funds in Shaanxi Province at that time, and successfully managed 6 of them. From February 2003 to April 2010, he successively served as the customer manager and assistant to the general manager of the fourth corporate business department of Xi'an Branch of Shanghai Pudong Development Bank. From July 1999 to February 2003, he worked in the International Business Department of Xi'an South Street Sub-branch of CCB, mainly responsible for foreign exchange accounting, foreign exchange loans and foreign exchange trade financing. In September 2011 and July 2009, Mr. Lei received a Ph.D. and a master's degree in Finance from the School of Economics and Finance, Xi'an Jiaotong University, respectively; in July 1999, he received a bachelor's degree in International Finance from the School of Management, Xi'an Jiaotong University.

Yongke Xue, President

Mr. Yongke Xue served as a member of the Board from February 26, 2008 to June 23, 2021 and as the Chairman of the Board from January 31, 2018 to June 23, 2021 and from February 26, 2008 to September 2, 2016. Mr. Xue served as our Chief Executive Officer from January 31, 2018 to March 4, 2020. Mr. Xue also served in that position from February 26, 2008 to February 18, 2013, and from December 24, 2014 to September 2, 2016. Mr. Yongke Xue served as the director of SkyPeople Juice Group Co., Ltd. from December 2005 to February 2020. Mr. Xue graduated from Xi’an Jiaotong University with an MBA in 2000. Mr. Xue graduated with a Bachelor’s degree in Metal Material& Heat Treatment from National University of Defense Technology in July 1989.