BEIJING, Dec. 30,
2022 /PRNewswire/ -- Baijiayun Group Ltd ("Baijiayun"
or the "Company") (Nasdaq: FFHL) today announced that it will
change its ticker symbol on the Nasdaq Capital Market from "FFHL"
to "RTC." Trading under the new ticker symbol will begin at market
opening on Friday, December 30,
2022.
Baijiayun announced the successful completion of the merger
transaction (the "Transaction") between Baijiayun Limited and Fuwei
Films (Holdings) Co., Ltd. ("Fuwei Films") and the appointment of a
new board and management team on December
23, 2022. The Transaction was previously announced on
July 19, 2022, and subsequently
approved by the shareholders of Fuwei Films at an extraordinary
general meeting held on September 24,
2022.
Mr. Gangjiang Li, chairman of the board and chief executive
officer of the Company and founder of Baijiayun Limited, commented,
"We are very excited to have our Company start trading under the
new ticker 'RTC' on the Nasdaq today. With only five years of
development, Baijiayun has rapidly grown to become one of the top
players in the billion-dollar video cloud industry in China. As an integrated video-centric
technology solution provider with advanced self-developed video
technologies, Baijiayun will continue to expand our product
portfolio spanning over Video SaaS/PaaS, Video Cloud and Software
and Video AI and System Solutions with a view to achieving further
breakthroughs."
No action is required by the existing shareholders of Fuwei
Films with respect to the ticker symbol change. The Company's Class
A ordinary shares will continue to be listed on the Nasdaq and the
CUSIP will be updated to G0704V 103.
About Baijiayun Group Ltd
Baijiayun is a video-centric technology solution provider with
core expertise in SaaS/PaaS solutions. Baijiayun is committed to
delivering reliable, high-quality video experiences across devices
and localities and has grown rapidly since the inception in 2017.
Premised on its industry-leading video-centric technologies,
Baijiayun offers a wealth of video-centric technology solutions
including Video SaaS/PaaS, Video Cloud and Software, and Video AI
and System Solutions. Baijiayun is catered to the evolving
communications and collaboration needs of enterprises of all sizes
and industries, which makes Baijiayun a one-stop video-centric
technology solution provider.
Safe Harbor Statement
This press release contains certain "forward-looking
statements." These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Statements that are not historical facts, including
statements about the parties' perspectives and expectations, are
forward-looking statements. The words "will, " "expect, " "believe,
" "estimate, " "intend, " "plan" and similar expressions indicate
forward-looking statements.
Such forward-looking statements are inherently uncertain, and
shareholders and other potential investors must recognize that
actual results may differ materially from the expectations as a
result of a variety of factors. Such forward-looking statements are
based upon management's current expectations and include known and
unknown risks, uncertainties and other factors, many of which are
hard to predict or control, that may cause the actual results,
performance, or plans to differ materially from any future results,
performance or plans expressed or implied by such forward-looking
statements. The forward-looking information provided herein
represents the Company's estimates as of the date of this press
release, and subsequent events and developments may cause the
Company's estimates to change. The Company specifically disclaims
any obligation to update the forward-looking information in the
future. Therefore, this forward-looking information should not be
relied upon as representing the Company's estimates of its future
financial performance as of any date subsequent to the date of this
press release.
A further list and description of risks and uncertainties can be
found in the documents that the Company has filed or furnished, or
may file or furnish with the U.S. Securities and Exchange
Commission, which you are encouraged to read. Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those indicated or anticipated by such forward-looking
statements. Accordingly, you are cautioned not to place undue
reliance on these forward-looking statements. Forward-looking
statements relate only to the date they were made, and the Company
undertakes no obligation to update forward-looking statements to
reflect events or circumstances after the date they were made
except as required by law or applicable regulation.
Investor / Media
Contact:
Crocker Coulson
CEO, AUM Media,
Inc.
(646) 652
7185
crocker.coulson@aummedia.org
Company Contact:
Yong Fang
CFO, Baijiayun Group Ltd
(267)-939-5080
fangyong@baijiayun.com
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SOURCE Baijiayun Group Limited