Sino-global Discusses Transition Plan In Connection With Retirement Of Chief
Financial Officer Mr. Zhang Mingwei
BEIJING, Aug. 8, 2013
BEIJING, Aug. 8, 2013 /PRNewswire/ --Sino-Global Shipping America, Ltd.
(Nasdaq: SINO), a leading, non-state-owned provider of shipping agency
services operating primarily in China, today announced the planned retirement
of its long-term Chief Financial Officer, Mr. Zhang Mingwei. Mr. Zhang's
retirement is expected after the Company files its upcoming annual report.
Mr. Cao Lei, Sino-Global's Chief Executive Officer, stated, "We are extremely
appreciative of the years of dedication and service Mingwei has given to
Sino-Global. He was instrumental in many aspects of our Company even dating
back to our days before we were publicly held. On behalf of the board of
directors, shareholders and employees, we thank Mingwei for his guidance and
support and appreciate his counsel. We wish him well and expect a smooth
transition due to Mingwei's willingness to serve our Company through the
filing of the upcoming annual report. This advanced planning will allow us to
complete a thorough search for a qualified CFO to replace Mingwei. We plan to
confine our search to CPAs who have at least 15 years of experience with US
GAAP as an auditor or CFO for publicly traded companies. Given our
international focus and our future expansion plans, our new CFO will need to
be very familiar with mergers and acquisitions and cross-border transactions.
Experience with financial due diligence will also be important to ensure that
any acquisitions are well reviewed prior to completion. We have already begun
interviewing candidates and hope to advise shareholders of a hiring decision
in the near future."
About Sino-Global Shipping America, Ltd.
Registered in the United States in 2001 and with operations in mainland China,
Sino-Global is a leading, non-state-owned provider of high-quality shipping
agency services. With local branches in most of China's main ports and
contractual arrangements in all those where it does not have branch offices,
Sino-Global is able to offer efficient, high-quality shipping agency services
to shipping companies entering Chinese ports. With a subsidiary in Perth,
Australia, where it has a contractual relationship with a local shipping
agency, Sino-Global provides complete shipping agent services to companies
involved in trades between Chinese and Australian ports. Sino-Global also
cooperates with companies in Hong Kong, China, India, and South Africa to
offer comprehensive shipping agent services to vessels going to and from some
of the world's busiest ports.
Sino-Global provides ship owners, operators and charters with comprehensive
yet customized shipping agency services including intelligence, planning,
real-time analysis and on-the-ground implementation and logistics support.
Sino-Global has achieved both ISO9001 and UKAS certifications.
Forward Looking Statements
No statement made in this press release should be interpreted as an offer to
purchase any security. Such an offer can only be made in accordance with the
Securities Act of 1933, as amended, and applicable state securities laws. Any
statements contained in this release that relate to future plans, events or
performance are forward-looking statements that involve risks and
uncertainties as identified in Sino-Global's filings with the Securities and
Exchange Commission. Actual results, events or performance may differ
materially. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as the date hereof. Sino-Global
undertakes no obligation to publicly release the results of any revisions to
these forward-looking statements that may be made to reflect the events or
circumstances after the date hereof or to reflect the occurrence of
Michael Huang, Chief Operating Officer Stephen D. Axelrod, CFA
Sino-Global, Beijing Wolfe Axelrod Weinberger Assoc. LLC
+86-10-6439-1888 Tel. (212) 370-4500 Fax (212) 370-4505
SOURCE Sino-Global Shipping America, Ltd.
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