UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On December 19, 2024, Fortune Valley Treasures, Inc., a Nevada corporation (the “Company”), entered into a Stock Purchase Agreement (the “DaXing SPA”) with Lin Yumin (“Purchaser”), pursuant to which Purchaser would purchase 100% ownership of a subsidiary of the Company, DaXingHuaShang Investment Group Limited, a Seychelles corporation, including all of its subsidiaries (collectively, “DaXing”). The purchase price under the DaXing SPA for 100% ownership of DaXing is $250,000, payable by Purchaser by delivery of a $250,000 principal amount promissory note (the “Lin Note”). The Lin Note bears interest at eight percent (8%) per annum, with principal and accrued interest due December 31, 2025.
The foregoing descriptions of the DaXing Agreement and the Lin Note are qualified in their entireties by the full text of the DaXing Agreement and the Lin Note, which are filed as Exhibits 10.1 and 10.2, respectively, to, and incorporated by reference in, this Current Report.
Item 2.01 Completion of Acquisition or Disposition of Assets.
The information contained above in Item 1.01 is hereby incorporated by reference into this Item 2.01.
On December 31, 2024, the closing under the DaXing Agreement was completed.
Item 9.01. Financial Statements and Exhibits.
| Exhibit No. | Description | |
| 10.1* | Stock Purchase Agreement dated December 19, 2024, between the Company and Lin Yumin | |
| 10.2* | Promissory Note dated December 31, 2024, $250,000 principal amount, Lin Yumin as maker, in favor of the Company | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL Document) |
* Filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Dated: January 13, 2025.
| FORTUNE VALLEY TREASURES, INC. | ||
| By: | /s/ Yuwen Li | |
| Name: | Yuwen Li | |
| Title: | Chief Executive Officer | |