BEIJING, Oct. 25, 2016 /PRNewswire/ -- Dehaier Medical
Systems Limited (Nasdaq: DHRM) (the "Company") announced that its
Board of Directors has approved changing the Company's name to
Lianluo Smart Limited to reflect the Company's focus on smart
wearable devices. In connection with the name change, the Company's
Nasdaq stock ticker will change from DHRM to LLST. The Company has
also appointed new officers and directors to better align
management with the Company's ambition in the field of smart
wearable devices.
The Change of the Company's name shows a more interactive and
solid relationship with Hangzhou Liaison Interactive Information
Technology Co., Ltd. ("Liaison Interactive") that will leverage
Liaison Interactive's resources,
promote the development of the Company's intelligent medical
business, accelerate its industrial layout on intelligence medical
market, and further optimize its overall business strategies to
increase market penetration and acceptance.
To support the Company's new focus on smart wearable devices,
the Board has nominated and elected three new Directors. Former
directors Mr. Xiaoguang Shen, Mr. Genhui Chen and Ms.
Huili(Alisa) Li have resigned, and
the Board has nominated and elected Mr. Zhitao He, Mr. Zhiqiang(Richard) Chang and Mr. Bin Pan as
Directors. Mr. Pan's term will expire at the annual shareholder
meeting to be held in 2017, and both Mr. He's and Mr. Chang's terms
will expire at the 2018 annual shareholder meeting.Mr. Zhitao He will serve as the Company's new
Chairman of the Board, with former Chairman Mr. Ping Chen remaining as CEO and a member of the
Board.Mr. Chang and Mr. Pan are independent directors. Both Mr.
Chang and Mr. Pan will serve as members of the Audit, Compensation
and Nominating Committees, with Mr. Chang chairing the Compensation
Committee and Mr. Pan chairing the Nominating Committee. Ms.
Hui Zhou has been appointed as the
new CFO.
The Company's Chairman of the Board, Mr. Zhitao He, is also the Chairman of the Board of
Liaison Interactive, a China-listed company. Mr. Zhitao He successfully led Liaison Interactive
to list on China'sA share market
(ticker: 002280). Mr. Zhitao He was
named one of the "10 Top Entrepreneurs of Post-1980s" by Hurun
Report and "Top Ten Entrepreneurial Leader of Listed Companies"
by Securities Times. In the past two years, under his
leadership, Liaison Interactive has moved into the field of smart
hardware, including the purchase of
leading American electronics online
retailer Newegg(http://www.newegg.com), investments in American
virtual reality ("VR") device manufacturer Avegant(www.avegant.com)
and hardware corporation Razer(http://www.razerzone.com), and
promotion ofthe world's biggest VR Operating System OSVR in
China together with Razer. This
investment plan has allowed Liaison Interactive to become a closed
loop of "Software and Hardware + Platform + Channels".
Mr. Richard Chang has been CEO of
Beijing Zhineng Technology Co., Ltd. in Beijing China since October 2015. Prior to that position, he served
as a Key Account Manager and Business VP at AREVA Inc. in
Beijing, China from 2013 through
October 2015 and Chief Representative
and Regional VP at Ventyx Inc. in Atlanta, Georgia from July 2009 to July
2013. Mr. Chang earned a master's degree in computer science
in 1997 from the University of Texas as
Dallas, a master's degree in
automation in 1990 from Shanghai Jiaotong University and a
bachelor's degree in automation in 1985 from the same school.
Mr. Bin Pan is the Chairman of Shanghai Hubo Investment
Management Co.,Ltd. He is also the independent director of Hangzhou
Liaison Interactive Information Technology Co. Ltd., Shanghai Yaoji
Playing Card Co.,Ltd, Shenzhen Prolto Supply Chain Management Co.,
Ltd and Shanghai Zhixin Electric Co.,Ltd. Mr. Pan is a partner in
Shanghai Capital Law&Partners law firm since
June, 2004. He used to be the vice-president at the investment
banking division of China Southern Securities Co., Ltd. from
March,1997 to June, 2004. Mr. Pan earned his master's degree in
International Economic Law from Shanghai University of International Business
and Economics in 1997 and his bachelor's degree in 1994 from
Huazhong University of Science and Technology University.
New CFO Ms. Hui Zhou has 10 years
of professional accounting and auditing experience. She previously
worked for Ernst&Young, and has strong expertise in US GAAP,
PRC GAAP and IFRS. She led the auditing work of many multinational
corporations and prepared initial public offerings fora variety of
companies. She deeply understands Nasdaq trade requirements for
listed companies.
The Board of Directors believes that this strategic personnel
adjustment will reflect the Company's determination in the business
transition. Mr. Zhitao He has
extensive experience in enterprise management and sharp foresight
in development of smart hardware ecosystem. The Company believes
that the addition of Mr. Zhitao He
will bring new opportunities in the Company's strategic transition
and development of the Company's smart wearable device business.
Ms. Hui
Zhou's abundant experience in financial management
and professional ability will be a tremendous asset for the
Company.
Finally, the Company has announced that its Annual General
Meeting will be held on December 20,
2016. Management looks forward to sharing the Company's strategy and
development plan with share holders
during this meeting. The Company will continue to take full
advantage of our considerable resources in the medical device
industry, consolidate existing B2B2C business and expand our market
share. Meanwhile, the Company will leverage the field of wearable devices,
which has a potentially large customers base. The Company will
constantly update core algorithm based on big data and continue to
research and develop wearable products with combination of software
and hardware.The Company's business now covers multiple areas,
including health management, family healthcare, long-distance
treatment and sport and fitness management.
About Dehaier Medical Systems Ltd.
Dehaier Medical develops, markets and sells medical products,
including medical devices and wearable sleep respiratory products
in China and international
markets. The company develops and assembles its self-branded
medical devices and sleep respiratory products from third-party
components. Dehaier is committed to becoming the solution provider
of medical smart wearable devices and professional services.
Dehaier is transforming from a traditional medical equipment
supplier to a high-tech enterprise in the field of mobile medical
and smart wearable devices. The main business of Dehaier is
providing overall solutions including accurate screening, efficient
treatment and treatment evaluation for obstructive sleep apnea
syndrome ("OSAS") patients. With the cutting-edge
photoplethysomography analysis technology and state-of-the-art
sleep diagnosis device, Dehaier made the first application of cloud
technology in sleep medicine by managing to upload patients'
records, patient information management, and analysis to the cloud.
Dehaier Medical provides sleep diagnostic products and services for
inpatients and outpatients in Chinese medical institutions
including chronic diseases therapy departments in public hospitals,
patients in private physical examination centers and VIP customers
of life insurance companies. Dehaier Medical's technology is based
on six patents and eleven software copyrights. More information may
be found at http://www.dehaier.com.cn.
About Hangzhou Liaison Interactive Information
Technology Co. Ltd.
Liaison Interactive, formerly known as Beijing Digital Grid
Technology Co., Ltd. was founded in 2007 as a leading mobile
Internet product and services provider in the industry. On
October 24, 2014, China Securities
Regulatory Commission approved the asset restructuring application
of Beijing Digital Grid Technology Co., ltd. and the listed company
Hangzhou New Century Information Technology Co., Ltd. After the
restructuring, listed entity Liaison Interactive (002280) became
China's first listed mobile
Internet company. Liaison Interactive has three core business
units. Digital Grid Department focuses on innovations in products
and technologies. Interactive Entertainment Department focuses on
mobile game developing and operating. Intelligent Hardware
Department focuses on one of most important business strategies
striving to be a world-class developer. Based in Beijing, Liaison Interactive has set up
subsidiaries and branches in Shanghai, Guangzhou, Hong
Kong, Shenzhen,
Hangzhou, Nanjing, Shenyang and the U.S. For more information,
please visit http://www.lianluo.com.
For more information, please contact:
Dehaier Medical Systems Limited
Mary Li
+86 10-5166-0080 ext. 211
investors@dehaier.com.cn
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SOURCE Dehaier Medical Systems Limited