BEIJING, March 5, 2019 /PRNewswire/ -- AirMedia Group Inc.
("AirMedia" or the "Company") (Nasdaq: AMCN), an operator of
out-of-home advertising platforms in China targeting mid-to-high-end consumers as
well as a first-mover in the travel Wi-Fi market, today announced
the appointment of Mr. Li Xin as
chief financial officer (the "CFO") of the Company, effective
March 1, 2019.
Mr. Li Xin has extensive
experience in the management of companies and connections in the
investment sector. Prior to joining the Company, Mr. Li was an
assistant to president and the CFO of Grass Green Group, where he
led several investment and M&A projects, both domestically and
internationally. Before joining Grass Green Group, Mr. Li was a
managing director of CICFH Fund Management Co., Ltd. (the "CICFH")
and concurrently served as CFO of the fund's portfolio company in
2016 and 2017. Prior to joining CICFH, Mr. Li held senior
professional positions in several large investment institutions.
Mr. Li received a MBA degree from Duke
University in 2006 and a bachelor's degree in international
finance and accounting from Tsinghua University in 1999.
"It's my great honor to join AirMedia and I look forward to
working with its management and finance team. AirMedia has made a
lot of achievements in aviation Internet market which has laid a
solid foundation for the future development. " Mr. Li
said,"AirMedia has a clear vision for its future development and I
hope to help the Company to meet its strategic objectives."
Mr. Herman Guo, CEO of AirMedia Group commented ," We are
pleased to have such an experienced professional as Mr.
Li Xin to join the Company and its
management team, and I expect to leverage Mr. Li's substantial
financial and business expertise in his current position with
AirMedia. Mr. Li will be an important supplement to the Company and
its management team," Mr. Guo continues, " Mr. Li will contribute
on the Company's financial strategy helping AirMedia to advance
further in the aviation Internet market."
About AirMedia Group Inc.
Incorporated in 2007 and headquartered in Beijing, China, AirMedia Group Inc. (AMCN) is
an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as
well as a first-mover in the travel Wi-Fi market. AirMedia sells
advertisements on the routes operated by several Chinese airlines
and also has concession rights to operate the Wi-Fi systems on
trains administered by several railway administrative bureaus in
China. For more information,
please visit http://www.airmedia.net.cn.
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements, including but not limited to, the Company's business
strategies and initiatives as well as the Company's business plans;
the Company's future business development, results of operations
and financial condition; expected changes in the Company's revenue
and certain cost or expense items; trends and competition in
China; general economic and
business conditions in China; and
other risks detailed in the Company's filings with the Securities
and Exchange Commission. These forward-looking statements involve
known and unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results.
For more information, please contact:
Director, Investor Relations
AirMedia Group Inc.
SOURCE AirMedia Group Inc.