Future FinTech Group (FTFT) Issues an Update of its Blockchain Division

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 an update of the Company's Blockchain Business Division. The division was established in December 2021 to manage its existing blockchain business to include its development as well as the execution of its strategic growth plan.

The new focus of the Blockchain Business Division will be to develop and grow new blockchain businesses such as high-performance computing, web3 technology, artificial intelligence (AI), and other blockchain related projects. The Blockchain Business Division will continue to manage its existing businesses to include coordinating its operations, developing business synergies and executing on its strategic growth plan.

Mr. Li Hu, CEO of Future FinTech, said, "We are actively developing an array of digital financial products and services by leveraging AI to expand our impact on the web3 industry, the next iteration of the internet that uses blockchain technology to empower users. Our Blockchain Business Division will integrate existing and new businesses with an expanded mandate which we believe solidifies our commitment to being a leader in the blockchain field."

Mr. Kai Xu has been appointed the President of the Blockchain Business Division, responsible for overseeing and directing the division's operations, including engagement with the expansion of web3. Mr. Xu has extensive experience in blockchain and big data. Mr. Xu was previously COO of the Company, a position in which he served until February 2020, and the vice president of the Company's blockchain division, and he also serves as the Deputy General Manager of FT Commercial Group Ltd., a wholly owned subsidiary of the Company,

Mr. Weifang Peng has been appointed the Vice President of the Blockchain Business Division, mainly responsible for the Company's blockchain computing power and web3 related business development. Mr. Peng entered the Bitcoin mining industry in September 2015 and has extensive industry experience. Mr. Peng was responsible for FTFT's global mining investment business from 2021 to 2022.

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