HONG KONG, July 7, 2014 /PRNewswire/ -- SGOCO Group, Ltd.
(Nasdaq: SGOC), ("SGOCO" or the "Company"), a company focused on
product design, distribution and brand development in the Chinese
display market, today announced that the Board of Directors has
appointed Mr. Pruby He as an Independent Director of the Company,
as part of its initiative to attract talents from Internet industry
to the Board level, to replace Ms. Teresa
Hon, who had resigned from the Board for personal
reasons and confirmed no disagreements with the Company. The
appointment and resignation became effective on June 30, 2014.
Mr. He, aged 32, is an expert in the Internet industry and
has 10 years of experience in IT product development, media
strategy and marketing. In early 2014, he set up Bequ.com, a
China-based travel service
platform which is designed to provide professional travel
consultancy and extensive product line for individual needs. As the
founder and CEO of Bequ.com, Mr. He operated the business and
successfully raised funding from various private equity and venture
capitals. Prior to that, he served as General Manager of Micromega
Technology., Ltd. and Product Manager of Arrow Electronics,
STmicroelectronics and QQ.com from 2004 to 2012. He holds a
Bachelor degree in Electronic Engineering from the Chengdu University of Technology, China.
Regarding the change of the Board, Mr. David Xu, Director, President and CEO of SGOCO,
commented, "We are pleased to welcome Mr. He to join SGOCO's Board
with his excellent experience in the Internet business and strong
human relations. Mr. He has an extensive understanding of China IT
market and his joining of SGOCO will strengthen our
establishing e-commerce business partnership and Internet related
projects. We are confident that his experience and skills will be
valuable asset to SGOCO in order to carry out the strategy and
expand the market share in display and other industries."
He continued, "We would also like to express our gratitude to
Ms. Teresa Hon for her contribution
to the Company, especially the experience, skills and ideas that
she brought in our business, and we wish her success in the future
endeavors."
About SGOCO Group, Ltd.
SGOCO Group, Ltd. is focused on product design, brand
development and distribution in the Chinese display market,
including computer monitors, TVs and application specific products.
SGOCO sells its products and services in the Chinese market and
abroad. For more information about SGOCO, please visit our investor
relations website http://www.sgocogroup.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 and 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
trend and client mix; possibility of securing loans and other
financing without efficient fixed assets as collaterals; 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.