SHENZHEN, China, July 17,
2024 /PRNewswire/ -- BAIYU Holdings, Inc. ("BAIYU" or
the "Company") (Nasdaq: BYU), a leading B2B bulk commodity
e-commerce platform and supply chain service provider, today
announced that its board of directors (the "Board") has appointed
Ms. Rongrong (Rita) Jiang as the
successor to Mr. Xiangjun Wang to
serve as an independent director, and a member of the Audit
Committee of the Board (the "Audit Committee"), the Compensation
Committee of the Board (the "Compensation Committee"), and the
Nominating and Governance Committee of the Board, respectively,
effective July 15, 2024.
Ms. Rongrong (Rita) Jiang has
over a decade of expertise in entrepreneurship, senior executive
management, corporate finance, management consulting, and venture
capital investment. As a founding partner of Ginger Capital LLC
since April 2011, Ms. Jiang has been
instrumental in providing comprehensive investment and strategic
advisory services, focusing on market expansion, cross-border
M&A, financial reporting, IPO preparation, and strategic
partnerships. Additionally, she serves as the Chief Financial
Officer for Broad Capital Acquisition Corp, a NASDAQ-listed blank
check company. Ms. Jiang co-founded Whitestone Investment
Management LLC in April 2015, where
she leads early-stage venture investments in technology companies
worldwide, fostering cross-border collaborations and mentoring
startups. Her previous roles include being a director at Woodlake
Group, Executive Vice President of Finance at V Media Corp., and
Vice President at Hayden Communications International. Ms. Jiang
has also held board positions at Bionik (China) Medical Technology Co., Ltd, and Jade
International Financing and Leasing Co., Ltd. She holds a CFA
charter, a Bachelor of Science from the University of Science and
Technology of China, and a Master
of Science in Chemistry from Northwestern
University, Chicago.
Ms. Renmei Ouyang, Chief
Executive Officer of the Company, commented: "On behalf of the
Board and the management team, I would like to thank Mr.
Xiangjun Wang for his tremendous
efforts as the independent director of Board and member of the
respective committees. At the same time, we warmly welcome Rita to
join us and are confident that her demonstrated expertise,
extensive experience and deep insight in the capital markets will
be invaluable to the Company. We firmly believe that the new
appointment is not only crucial but pivotal for enhancing our
company's transparency and bolstering our public image."
Ms. Rongrong (Rita) Jiang, the
independent director of the Board, stated, "I am delighted to join
BAIYU. I look forward to working closely with the management team
and respective committees to sustain financial prudence and
compliance, fair and attractive compensation, health and robust
governance, to drive growth, profitability and create more values
for the Company's shareholders."
About BAIYU Holdings, Inc.
BAIYU Holdings, Inc. (NASDAQ: BYU) is a leading B2B bulk
commodity e-commerce platform and supply chain service provider.
Currently, the Company is focused on expanding its new business in
photovoltaic, energy storage power, and fast-charging power
stations, along with services for the new energy industry. The
Company's business involves investing in fast-charging power
stations, commercial power stations, and offering integrated new
energy solutions and operations that encompass photovoltaic, energy
storage, and fast-charging power stations. It offers comprehensive
solutions and operations for global new energy storage systems and
specialized sectors. With a central focus on new energy and an
orientation towards integrated power systems, the Company is
dedicated to fields like clean energy, smart power, intelligent
photovoltaic, and the operation and maintenance of fast-charging
station outlets. For more information, please visit
www.baiyuglobal.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events 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 "approximates," "assesses," "believes," "hopes," "expects,"
"anticipates," "estimates," "projects," "intends," "plans," "will,"
"would," "should," "could," "may" or similar expressions. The
Company undertakes no obligation to update or revise publicly any
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 and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and other
filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
BAIYU Holdings, Inc.
Investor Relations Department
Email: ir@baiyuglobal.com
Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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SOURCE BAIYU Holdings, Inc.