Sky-mobi Limited Announces Appointment of New Independent Director
April 15 2013 - 8:00AM
Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI), a
leading mobile application store and mobile social network
community operator in China, today announced that its board of
directors has appointed Mr. Jimmy Lai, CPA, as the Company's
independent director and a member of the audit committee, effective
April 15, 2013. Mr. Lai succeeds Mr. Fan Bao who has resigned from
his position as independent director and a member of the audit
committee due to personal reasons.
Mr. Jimmy Lai has more than twenty years of finance and
leadership experience with leading gaming, mobile and technology
companies in the United States and China. Mr. Lai currently serves
as the CFO of Gamewave Group Ltd, the largest web game provider and
the leading provider of interactive entertainment services in
China. Previously, he served as the CFO for several US-listed and
private companies including Daqo New Energy Corp, a leading
polysilicon manufacturer based in China, Linktone Ltd, a leading
provider of interactive entertainment products and services in
China. Earlier in his career, he worked in various financial roles
at Semiconductor Manufacturing International Corp, one of the
leading semiconductor foundries in the world, and AMX Corp, a
leading system control company in the world. Mr. Lai received a MBA
degree from the University of Texas at Dallas, and a bachelor's
degree in statistics from the National Cheng Kung University in
Taiwan.
Michael Tao Song, Chairman and Chief Executive Officer of
Sky-mobi, stated, "We are excited about Mr. Lai's addition to our
Board and warmly welcome him to Sky-mobi. His wealth of financial
and industry experience in working with global and Chinese gaming
and mobile companies is a welcome addition, and will further
enhance our corporate governance practices and strategic planning
capabilities. We also wish to express our sincere gratitude to Mr.
Fan Bao for his service to Sky-mobi as our board member and wish
him continued success in his future endeavors."
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. In some cases, you can identify
forward-looking statements by such terms as "may," "will,"
''believes,'' ''expects,'' ''anticipates,'' ''intends,''
''estimates,'' "plans," "continues" or other similar expressions,
the negative of these terms, or other comparable terminology. Such
statements, including the statements relating to the Company's
business outlook, are subject to risks and uncertainties that could
cause actual results to differ materially from those projected.
Potential risks and uncertainties include the effectiveness,
profitability, and marketability of the Company's solutions; the
Company's limited operating history; measures introduced by the PRC
government and mobile network operators aimed at mobile
applications-related services; the Company's revenue
projections for future periods; the Company's ability to maintain
relationships with handset companies, content providers and payment
service providers; its dependence on mobile service providers and
mobile network operators for the collection of a substantial
majority of its revenues; billing and transmission failures, which
are often beyond the Company's control; its ability to compete
effectively; its ability to capture opportunities in the growing
smart phone market; its ability to obtain and maintain applicable
permits and approvals; general economic and business conditions;
the volatility of the Company's operating results and financial
condition; the Company's ability to attract or retain qualified
senior management personnel and research and development staff; and
other risks described in the Company's filings with the Securities
and Exchange Commission, including its annual report on Form 20-F
filed on June 29, 2012.These forward-looking statements are based
on current expectations, assumptions, estimates and projections
about the Company and its industry. 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.
About Sky-mobi Limited
Sky-mobi Limited operates the leading mobile application store
in China, measured by revenues in 2010, according to a report
commissioned by the Company and prepared by Analysys International
in July 2011, an independent research and advisory firm. The
Company works with handset companies to pre-install its Maopao
mobile application store on handsets and with content providers to
provide users with applications and content titles. Users of its
Maopao store can browse, download, and enjoy a range of
applications and content, such as single-player games, mobile
music, and books. The Company's Maopao store enables mobile
applications and content to be downloaded and run on various mobile
handsets with different hardware and operating system
configurations. The Company also operates a mobile social network
community in China, the Maopao Community, where it offers mobile
social games, as well as applications and content with social
network functions to its registered members. The Company is based
in Hangzhou, the People's Republic of China. For more information,
please visit: www.sky-mobi.com.
CONTACT: Sky-mobi Limited
Mr. Carl Yeung, CFO
Phone: + (86) 571-87770978 (China)
Email: investor.relations@sky-mobi.com
ICR Inc
Jeremy Peruski, Senior Vice President
Phone: + (1) (646) -915-1615 (US)
Email: investor.relations@sky-mobi.com
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