Future FinTech announces leadership changes at executive and board levels

NEW YORK - Future FinTech Group Inc. (NASDAQ:FTFT), a micro-cap company with a market value of $5.65 million that has seen its stock decline over 76% in the past year, has appointed new leadership following multiple resignations from its executive team and board, according to a press release statement issued Monday. InvestingPro data shows significant volatility in the company’s recent performance.

The company named Ting (Alina) Ouyang as its new Chief Financial Officer and board director, while David Xu has been appointed Chairman of the Board. These appointments come after Ming Yi resigned as CFO, Fuyou Li stepped down as Board Chairman, and Ying Li left her positions as director and Vice President.

According to the company, all three resignations, which occurred on June 20, were not the result of any disagreements regarding company operations, policies, or practices. The new appointments were made on June 26.

Ouyang, 40, has served as Financial Controller of Future FinTech since August 2020 and previously held the position of Internal Control Manager from September 2020 to December 2023. She is a Certified Management Accountant with over 10 years of senior financial management experience.

Xu, 38, brings experience from previous roles at China CITIC Bank and China Construction Bank, where he focused on helping companies secure funding and complete initial public offerings.

Li Hu, CEO of Future FinTech, expressed appreciation for the departing executives and confidence in the new leadership team.

Future FinTech Group Inc. describes itself as a comprehensive financial and digital technology service provider that conducts brokerage and investment banking services in Hong Kong and engages in supply chain trading and finance businesses in China.

In other recent news, Future FinTech Group Inc. has announced a 1-for-10 reverse stock split, which took effect on April 1, 2025. This corporate action reduced the number of authorized common shares from 60 million to 6 million and decreased the issued and outstanding shares from approximately 30.08 million to about 3.01 million. The reverse stock split was primarily undertaken to ensure compliance with NASDAQ’s minimum bid price requirement. Additionally, Future FinTech recently regained compliance with NASDAQ’s listing standards, meeting the $1.00 minimum closing bid price condition for 15 consecutive business days. This achievement allows the company to maintain its listing on the NASDAQ Capital Market. The company’s Board of Directors approved the reverse stock split without shareholder approval, in line with the Florida Business Corporation Act. Future FinTech’s preferred shares remain unaffected by this change. These developments reflect the company’s ongoing efforts to align with NASDAQ requirements and maintain its market presence.

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