Fortune Valley Treasures restates Q1 and Q2 2024 financials due to accounting errors

Fortune Valley Treasures, Inc.

Errors found in trial balances for subsidiary Dongguan Fusheng Drinking Water Co., affecting undistributed profits.
Company will restate quarterly reports for March 31 and June 30, 2024; those statements should no longer be relied upon.
Restatement expected to materially impact previously reported balance sheets and income statements.
Management continues to report material weakness in internal control over financial reporting related to the errors.
Discussed matters with independent auditor Astra Audit & Advisory LLC.

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