On February 22, 2021, the Board of Directors of HF Foods Group Inc. approved the terms of a Separation Agreement pursuant to which Zhou Min Ni has voluntarily resigned from his position as co-Chief Executive Officer and director and any position he holds with any of the company's subsidiaries, effective February 23, 2021 (Separation Date"). The company will provide Mr. Ni with payment of his wages through March 31, 2021. On February 22, 2021, the Board of Directors of the Company appointed Russell Libby as the new Chair of the Company's Board of Directors. Mr. Libby has served as a member of the Board of Directors since July 1, 2020.