On April 18, 2023, Hinman Au, a member of the Board of Directors of MMTEC, Inc. tendered his resignation to the Board. His departure was for personal reasons and not for any disagreement with the Company, its Board or management. The resignation became effective upon the Board's acceptance thereof, which occurred on April 18, 2023.

The Company appointed Min Kong to fill the Board vacancy on April 18, 2023. Mr. Kong has served as the Company Chief Financial Officer since January 2018. Between June 2015 and January 2018, Mr. Kong served as the Institutional Business Director of Gujia (Beijing) Technology Co.

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