Kandi Announces Appointments of New Chief Strategy Officer and Chief Financial Officer
November 14 2016 - 8:32AM
Kandi Technologies Group, Inc. (the "Company" or "Kandi")
(NASDAQ:KNDI) today announced two new executive appointments to
help support its continuing rapid growth. Kandi’s board of
directors has appointed Mr. Wang Cheng (Henry) as the Company’s new
Chief Strategy Officer and Mr. Mei Bing as the Company’s Chief
Financial Officer, with both appointments effective immediately.
Mr. Wang, who is resigning as our Chief
Financial Officer in order to assume the position of Chief Strategy
Officer, has 20 years of experience in operations, strategy,
financial management, and mergers and acquisitions. Going forward,
he will be responsible for driving Kandi’s corporate strategy and
implementing investment decisions.
Mr. Mei is a seasoned financial executive with a
distinguished career of more than 15 years as an executive with
Fortune 500 companies, large multinational enterprises, and middle
market companies, including public companies, in both the U.S. and
China. Before joining Kandi, Mr. Mei served as the Chief Financial
Officer and board secretary of Skystar Bio-Pharmaceutical Company,
a leading publicly traded biotechnology company based in
China, from 2011 through 2016. From 2015 through
2016, he also served as an independent non-executive
member of the board of directors and as chairman of the audit
committee of PharmaMax Corporation, also based in China. From 2006
through 2011, Mr. Mei served as the Chief Financial Officer of
Avineon, Inc., a multinational technology company located in the
U.S., where he managed the Company’s global financial operations in
North America, Asia and Europe. Prior to his service Avineon, Inc.,
he served as Controller of Arrowhead Global Solutions, Inc. (now
part of Harris Corporation), a U.S.-based global provider of
satellite communications to remote and harsh environments. Mr. Mei
has also served as the Controller of both PICS, Inc. and Thompson
Hospitality Corporation, a member of the Compass Group family
of companies, located in the U.S. Mr. Mei received a B.S.
degree in Economics from Zhejiang University in Hangzhou, China and
holds an M.B.A. degree from The Fuqua School of Business at Duke
University, where he graduated with distinction as a Fuqua
Scholar. Mr. Mei is a Certified Public Accountant (CPA) in
the State of Maryland, a Certified Management Accountant (CMA), a
Chartered Global Management Accountant (CGMA), and a Certified
Valuation Analyst (CVA).
Mr. Hu Xiaoming, Chairman and Chief Executive
Officer of Kandi commented, “We are delighted to have Mr. Mei Bing
join our management team as Kandi’s new Chief Financial Officer.
Mr. Mei brings extensive experience in financial management,
capital markets, and accounting under both international and
Chinese standards. His impressive international and financial
background together with his strong leadership skills will enable
him to play a key role in establishing strong financial
capabilities for Kandi and reinforcing our leading market position.
Additionally, we greatly appreciate the contributions Mr. Wang
(Henry) Cheng made to the Company as its former Chief Financial
Officer, and in particular his important commitment to improving
the Company’s financial transparency and efficiency. Mr. Wang will
now assist us in exploring new opportunities to maintain
profitability and help us develop strategic initiatives for our
sustainable growth. Mr. Wang will continue to be a key member of
our management team and we believe he will meet our expectations
and help us accelerate our growth.”
About Kandi Technologies Group,
Inc.
Kandi Technologies Group, Inc. (KNDI),
headquartered in Jinhua, Zhejiang Province, is engaged in the
research and development, manufacturing and sales of various
vehicle products. Kandi has established itself as one of China's
leading manufacturers of pure electric vehicle ("EV") products
(through its joint venture), EV parts and off-road vehicles. More
information can be viewed at the Company's corporate website at
http://www.kandivehicle.com. The Company routinely posts important
information on its website.
Safe Harbor Statement
This press release contains certain statements
that may include "forward-looking statements." All statements other
than statements of historical fact included herein are
"forward-looking statements." These forward-looking statements are
often identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions, involving known and
unknown risks and uncertainties. Although the Company believes that
the expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including the risk factors discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on the SEC's website (http://www.sec.gov).
All forward-looking statements attributable to the Company or
persons acting on its behalf are expressly qualified in their
entirety by these risk factors. Other than as required under the
securities laws, the Company does not assume a duty to update these
forward-looking statements.
Follow us on Twitter: @Kandi_Group
Company Contact:
Ms. Kewa Luo
Kandi Technologies Group, Inc.
Phone: 1-212-551-3610
Email: IR@kandigroup.com
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