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
partners and 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.
Johnson Lau
Chief Financial Officer
Tel: +86 (10) - 85870173 (China)
US: +1(646) - 5831616 (Voice mail)
Email: johnson@sgoco.com
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.