SGOCO Announces Three Management Promotions
BEIJING, March 10, 2014
BEIJING, March 10, 2014 /PRNewswire/ --SGOCO Group, Ltd. (Nasdaq: SGOC)
("SGOCO" or the "Company"), a company focused on product design, distribution
and brand development in the display market, today announced three management
promotions designed to support SGOCO's ongoing business development. The
promotions will bring additional expertise, depth and proven talent to the
core management team. Mr. Tony Zhong, Mr. Shibin Xie and Mr. Jinfeng Li were
promoted to Vice President of Finance, Vice President of Sales and Vice
President of Product Development, respectively, effective from January 1,
2014. Mr. Wei Zhong will report directly to Mr. Johnson Lau, the Chief
Financial Officer, and Mr. Shibin Xie and Mr. Jinfeng Li will report directly
to Mr. David Xu, the President and Chief Executive Officer.
"These new additions to the management team speak to our ability to develop
strong talent from within, and also positions SGOCO for greater success in the
near and long-term," said Mr. David Xu, President and CEO of SGOCO. "Having
worked with Mr. Zhong, Mr. Xie and Mr. Li in past years, they have been able
to prove their exceptional combinations of skill, intelligence, energy and
vision, I believe this move will expedite our business goals to expand our
product portfolio, sales channels and maintain our ambition to lead the
industry in profitability. 2013 was a year of transformation and investment
for SGOCO, and I believe our talented team will lead SGOCO to the next stage
of growth and profitability in 2014 and beyond."
Mr. Tony Zhong joined SGOCO in September 2011 as Finance Manager. Prior to
joining SGOCO, Mr. Zhong was a Financial Manager of China Hydroelectric
Corporation, an NYSE-listed company, from 2007 to 2011. Mr. Zhong started his
career in KPMG in Beijing from 2005 to 2006. He holds a Bachelor of Arts in
Finance, Accounting and Management from Nottingham University, UK, and a
Bachelor of Science in Applied Accounting from Oxford Brooks University, UK.
Mr. Shi-bin Xie, Vice President of Sales, joined SGOCO in July 2012. Mr. Xie
has over 15 years of experience in sales and marketing, specializing in
Chinese display products. From 2010 to 2012, Mr. Xie served as Vice President
of Sales in Shenzhen Dongqiao Huahan Technology Co., Ltd. From 2005 to 2010,
Mr. Xie served as the General Manager of Shenzhen Qinghua Ziguang Technology
Co., Ltd. Prior to that, Mr. Xie served sales and marketing manager roles in
various companies in China from 1997 to 2005. Mr. Xie holds a Bachelor of
Science in Engineering from the East China Institute of Technology.
Mr. Jinfeng Li, Vice President of Product Development, joined SGOCO in October
2013. Mr. Li has over 15 years' experience in the design and engineering of
electronic products. From 2010 to 2013, Mr. Li served as Vice President of the
Research and Development Centre in Shenzhen Dongqiao Huahan Technology Co.,
Ltd. Mr. Li served several engineer and product development manager roles in
various companies in China from 1997 to 2010. Mr. Li holds a Diploma in
Applied Electronics Technology from Central South University.
ABOUT SGOCO GROUP, LTD.
SGOCO Group Ltd. (NASDAQ: SGOC) offers innovative display products and
solutions to consumers and businesses in various industry verticals. By
collaborating with its brand partnersand utilizing comprehensive industry
knowledge in product development, SGOCO addresses customers' rapidly-changing
display needs by delivering highly intelligent products and solutions that
integrate hardware and software in SGOCO's own brand and licensed brands.
Leveraging on its highly integrated distribution channels, SGOCO primarily
targets China's rapidly-emerging tier three and four cities in China.SGOCO is
also regarded as a reliable brand developer. SGOCO was established in 2005 and
maintains its headquarters in Beijing, China. For more information about
SGOCO, please visit our investor relations website http://www.sgocogroup.com.
For investor and media inquiries, please contact:
SGOCO Group, Ltd.
Chief Financial Officer
Tel: +86 (10) - 85870173 (China)
US: +1(646) - 5831616 (Voice mail)
SAFE HARBOR AND INFORMATIONAL STATEMENT
This announcement contains "forward-looking" statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical fact, including, without
limitation, those with respect to the objectives, plans and strategies of the
Company set forth herein and those preceded by or that include the words
"believe," "expect," "anticipate," "future," "will," "intend," "plan,"
"estimate" or similar expressions, are "forward-looking statements".
Forward-looking statements in this release include, without limitation, the
effectiveness of the Company's multiple-brand, multiple channel strategy and
the transitioning of its product development and sales focus to a
"light-asset" model. Although the Company's management believes that such
forward-looking statements are reasonable, it cannot guarantee that such
expectations are, or will be, correct. These forward-looking statements
involve a number of risks and uncertainties, which could cause the Company's
future results to differ materially from those anticipated. These
forward-looking statements can change as a result of many possible events or
factors not all of which are known to the Company, which may include, without
limitation, requirements or changes adversely affecting the LCD and LED market
in China; fluctuations in customer demand for LCD and LED products generally;
our success in promoting our brand of LCD and LED products in China and
elsewhere; our ability to have effective internal control over financial
reporting; our success in designing and distributing products under brands
licensed from others; management of sales trends and client mix; possibility
of securing loans and other financing without fixed assets as collateral;
changes in government policy in China; the fluctuations and competition in
sales and sale prices of LCD and LED products in China; China's overall
economic conditions and local market economic conditions; our ability to
expand through strategic acquisitions and establishment of new locations;
compliance with government regulations; legislation or regulatory
environments; geopolitical events, and other events and/or risks outlined in
SGOCO's filings with the U.S. Securities and Exchange Commission, including
its annual report on Form 20-F and other filings. All information provided in
this press release and in the attachments is as of the date of the issuance,
and SGOCO does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
SOURCE SGOCO Group, Ltd.
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