BEIJING, May 24, 2023
/PRNewswire/ -- TuanChe Limited ("TuanChe" or the "Company")
(NASDAQ: TC), a leading integrated automotive marketplace
in China, today announced a change in its board of directors
(the "Board").
Mr. Fei Han tendered to the Board
his resignation as an independent director of the Board, a member
of the Audit Committee of the Board and a member of the Nominating
and Corporate Governance Committee of the Board for personal
reasons, effective from May 24, 2023.
Mr. Fei Han's resignation did not
result from any disagreement with the Company on any matter
relating to the Company's operations, policies or practice.
The Board appointed Mr. Tong Zhang as an independent director of
the Board, a member of the Audit Committee of the Board and a
member of the Nominating and Corporate Governance Committee of the
Board, effective from May 24, 2023.
Upon the effectiveness of Mr. Fei
Han's resignation and the appointment of Mr. Tong Zhang, the
Board consisted of five directors, including three independent
directors. As a foreign private issuer, the Company is permitted to
rely on home country practice under the Nasdaq Stock Market Rules
with respect to its board and committee composition.
Mr. Tong Zhang has over 10 years of experiences in the fields of
vehicle trading, e-commerce and technology research, particularly
with respect to vehicle electrification, vehicle intelligence and
V2X (vehicle-to-everything) technologies. Since 2015, Mr. Tong
Zhang has served as vice president of the Automotive Intelligent
Industry Research Institute of the Ministry of Industry and
Information Technology, where he also serves as the secretary
general of the Automotive Intelligent Services Consortium and
focuses on the integration of domestic and foreign advanced
technologies in the automotive industry, promoting the innovative
development and transformation of automotive services. Prior to
that, Mr. Tong Zhang served as the deputy director of the China
Automobile Dealers Association from 2012 to 2015, where he
participated in and presided over the drafting and promulgation of
the first national standard in the domestic automobile dealing
industry for used car inspection. Mr. Tong Zhang received his
bachelor's and master's degrees in economics and management from
Beijing Administration College in 2002 and 2004, respectively.
Mr. Wei Wen, Chairman and Chief
Executive Officer of TuanChe, commented, "We appreciate Mr.
Fei Han's contributions and wish him
the best in his next endeavor. We welcome Mr. Tong Zhang to our
Board. Mr. Tong Zhang is well qualified to serve as an independent
director of the Board and possesses substantial experience in
vehicle trading, technologies and services. We believe Mr. Tong
Zhang's impressive track record of success can effectively
facilitate our operating objectives and targets."
About TuanChe
Founded in 2010, TuanChe Limited (NASDAQ: TC) is a leading
integrated automotive marketplace in China. TuanChe offers
services to connect automotive consumers with various industry
players such as automakers, dealers and other automotive service
providers. TuanChe provides automotive marketing and transaction
related services by integrating its online platforms with offline
sales events. Through its integrated marketing solutions, TuanChe
turns individual and isolated automobile purchase transactions into
large-scale collective purchase activities by creating an
interactive many-to-many environment. Furthermore, leveraging its
proprietary data analytics and advanced digital marketing system,
TuanChe's online marketing service platform helps industry
customers increase the efficiency and effectiveness of their
advertising placements.
For more information, please contact ir@tuanche.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements include,
without limitation, the Company's business plans and development
and business outlook, which can be identified by terminology such
as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "potential," "continue," "is/are
likely to" or other similar expressions. Such statements are based
upon management's current expectations and current market and
operating conditions, and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control. Further information regarding these and other risks,
uncertainties or factors is included in the Company's filings with
the U.S. Securities and Exchange Commission. The Company does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events or otherwise, except as
required under law.
For investor and media inquiries, please contact:
TuanChe Limited
Investor Relations
Tel: +86 (10) 6397-6232
Email: ir@tuanche.com
The Piacente Group, Inc.
Brandi Piacente
Tel: +1 (212) 481-2050
Email: tuanche@tpg-ir.com
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SOURCE TuanChe Limited