CHANGYOU ALLIANCE GROUP LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1039) VOLUNTARY ANNOUNCEMENT INTRODUCTION TO MANAGEMENT TEAM AND MAJOR SHAREHOLDERThis announcement is made by Changfeng Axle (China) Company Limited (the "Company") on a voluntary basis. The purpose of this announcement is to keep the shareholders and potential investors of the Company informed of the management team structure of the Company and its subsidiaries following the Acquisition Completion on 25 March 2015. Capitalised terms used herein shall have the same meanings as those defined in the circular of the Company dated 17 February 2015 unless otherwise specified.
Introduction to Management Team 1. Ge Lingyue ( itlftl ) - Chief Executive Officer of OPCo
Mr. Ge graduated from the Graduate School of the Academy of Social Sciences. He has found a number of enterprises since 1992 and undertaken the system-integration and software development of Hainan Province's postal savings computer network (Green Card Engineering Project). As a senior advisor to the first chairman of China United Telecommunications Corporation ("China Unicom"), he had directly involved in the preparatory work and sponsorship of China Unicom, and participated in the planning and design of China Unicom's nationwide fiber optic network and GSM mobile communications network, and successfully launched a satellite-based GSM mobile network via the transmission of the Signaling System 7 (SS7) satellite communications network, filling the gap of shortage in terrestrial transmission resources during the early stage of China Unicom. Mr. Ge had also joined the effort with the former director of the Technology Division of Ministry of Radio, Film and Television, participating in the design and planning of the national cable fiber network. Since 2000, Mr. Ge has been mainly engaging in the planning and investment of large-scale projects in the satellite mobile broadcasting, radio and television media and mobile internet industries. He has jointly invested US$100 million and established China Mobile Broadcasting Satellite Corporation (CMBSat) in Hong Kong with Echostar Corporation (the largest satellite-broadcasting TV operator of the U.S.) and is currently the chairman of the board of CMBSat. Mr. Ge has also cooperated with China Telecom Group, through their jointly established company Zhongwei Mobile Multimedia Network Limited* ( 9=m��$)J$1m��l&0PJ ),
investing in the construction and operation of a satellite-plus-terrestrial satellite mobile multimedia
1
broadcasting network, planning to provide the majority of mobile phone and car users with satellite mobile multimedia content delivery, high-precision location-based and real-time data broadcasting services.
Mr. Li, holder of a master's degree in Automatic Control Engineering of Northwestern Polytechnical University, has working experience of 15 years in the IT industry. Prior to joining OPCo, he worked for IBM Corporation as Senior Managing Consultant of the Greater China Software Group. Before that, Mr. Li had respectively worked for companies at home and aboard including Oracle, BEA Systems, Huawei and Red Flag Linux, participated in core technology sectors and taken various senior positions in the areas including hardware and software development, project implementation, technical service, business advisory and pre-sale solutions. Mr. Li has comprehensive and in-depth experience and track record in hardware and software product development, design of large-scale solution, implementation of complex system, project team leadership as well as customer technical sales. Mr. Li has also gained extensive experiences in a wide range of industries, including telecommunications, banking, retail, automotive, aerospace, manufacturing, public security, transportation, smart cities, car and goods networking. Mr. Li has experience in a variety of industries, technology adoption and development ability in customers and marketing. Given his multi-business hands-on experience, Mr. Li possesses great ability in exploring new clientele and market, and thorough understanding of the current, prospects and transformation of the traditional industry, resource integration and model innovation of the internet sector, evolution, integration and actual application of the IT technology.
3. Han Yong ( .fl� ) - Senior Vice President of OPCoMr. Han has more than 25 years of experience in the operation and management of import and export business, and had directly in charge of a garment and accessories factory, and is familiar with the entire process from raw materials to finished product, particularly on quality control of the production on every aspect. Furthermore, Mr. Han is strong at business negotiations, as an expert member on behalf of the local textile and apparel industry, he had participated in several textile and apparel Sino-US and Sino- EU bilateral negotiations. Mr. Han possesses extensive experience and skills in handling various types of complicated business issues.
4. Li Bin ( �� ) - Vice President, Purchasing and Sales of OPCo
Mr. Li has working experience of 17 years in the retail industry, with extensive experience in the senior management as well as grass-roots work. Mr. Li had worked for the operations and procurement system of Carrefour for nearly 10 years, possessing overall management capabilities including precise judgment of the retail industry, management of the supply chain of various types of consumer goods, determining category management objectives, working out solutions for supplier management, leading procurement team to negotiate with suppliers, introducing new products, management of commodity inventory, negotiating and concluding contracts and transaction prices. Mr. Li is capable of analyzing and discovering problems in any process within a relatively short period of time, determining effective solutions, while meeting control and business performance targets.
2
Mr. Liu graduated from the Business Administration School of Beijing University of Science and Technology, with more than 10 years of experience in procurement management, with focus primarily on marketing, channel development, dealer management and product management. Mr. Liu has extensive experience in the marketing field and possesses excellent management skills. Mr. Liu had served as managing director for Yihaodian ( -J!t$ ) and also product managing director for AmazonJoyo, mainly responsible for determining product category, proper operational strategy and management practices in accordance with the company's business strategy, and according to the market and customer needs, formulating management strategies in relation to product selection, pricing, contracts, inventory as well as working capital.
6. Tang Peng ( �Hl ) - Vice President, Marketing of OPCoMr. Tang, holder of a master's degree in Business Administration (MBA), has 18 years of experience in the marketing field. He had served Electrolux Electric (China) as product market managing director, vice president of the digital marketing division of Hui Qi* ( 'l'M(�i'l1')), and as senior vice president of China for Orange Sky Golden Harvest Group. Mr. Tang has professional and hands-on experience in brand and public relations management, market operations as well product management, and track record in turning results from losses to profit-making, and significantly expanding the market share of the company.
7. Liu Xiangchen ( �mE2 ) - Director, Foreign Cooperation of OPCoMr. Liu, holder of a master's degree of St. Petersburg State University, has working experience of 6 years in the ecological construction, channel and strategic cooperation of the IT industry. Prior to joining OPCo, Mr. Liu served as business development manager for Alibaba, was responsible for the design and landing of the big-scale cooperation on data business, assisting partners in the design and set-up execution path of the new cloud-based business model, construct the cloud computing ecosystem, and develop cloud-based solutions and partnership of PaaS, SaaS and cloud-based services. During the period when he worked for IBM, Mr Liu was responsible for the mobile solutions partnership business of China and Web Sphere strategic partnership business of Northern China, implementing market-access strategy and marketing plan with cooperative partners based on the common value positioning and technology programs.
8. Li Derong ( ��� ) - Director of Supply Chain of OPCo
Mr. Li, graduated from the School of Business Administration, Harbin University of Commerce. Since 2000, Mr. Li has accumulated 15 years of experience primarily in the logistics management business. From 2010, Mr. Li served as the managing director of logistics management for Suning Tesco E-commerce, in charge of the overall supervision and control through an integrated system and solution from planning of distribution, inventory analysis and procurement, transportation to timely delivery, reduction of the defect rate, systemic team management and optimization of the key metrics and workflow, thus has had improved both of the general efficiency and degree of customer satisfaction.
3
"Starr Investments Cayman V, Inc.," an investment SPV incorporated in the Cayman Islands is an indirect wholly-owned subsidiary of Starr International Company, Inc. ("Starr International"). Starr International is a private holding company of insurance and investment entities around the world. The Chairman of Starr International is Mr. Maurice R. Greenberg. The ultimate beneficial owner of Starr International is Starr International Foundation, a charitable foundation organized under the laws of Switzerland. The Starr Foundation was founded by Mr. Cornelius Vander Starr in 1955.
In March 2015, Century East Network Limited became a 51% owned subsidiary of the Company. Starr International's investment SPV collectively holds 14.66% of the Company, the third largest shareholder of the Company.
With a history of one hundred years of experience and a group with a professional team, Starr companies long-term focuses on the insurance company, the insurance agency business, the insurance industry and the global investment. Starr Companies distinguishes itself in the international financial market with its globalization history and multinational operation, especially in Asia and other developing countries. Since 2006, Starr has invested more than US$ 1 billion on private equity and direct investment in Asia market and focus on high-tech industries such as healthcare, pharmaceutical, retail, environment protection, new energy and logistics. Since 2007, Starr has invested over US$600 million in China domestic projects.
In Sept 2014, Starr Investments made private equity investment on Century East Network Limited, the operating company of CCIGMALL.com. CCIGMALL.com sets up a direct path between pre-identified overseas suppliers, distributors and domestic retailers and constructs e-commerce cloud intelligence supply chain platform. Fortunet E-commerce Group also entered into an agreement with CHINAUMS to leverage its network to promote the CCIGMALL.com platform terminal to the millions of retailers of the latter.
The rapid growth of China e-commerce market and huge demand from China consumers for foreign high quality authentic imported goods will provide solid foundation for company's growth. Besides, the Group is managed by a team with extensive industry insights and operational experience in telecommunications, information technology and e-commerce industry through their previous positions at various prestigious corporations.
4
Starr companies will leverage its decade's investment and insurance experience in Europe and US, global networks and resources to support business development of the Company.
By Order of the Board
Chairman
Hong Kong, 14 April 2015
As at the date of this announcement, the executive Directors of the Company are Mr. Cheng Jerome, Ms. Wu Ching and Mr. Yuan Weitao; the non-executive Directors of the Company are Ms. Dong Ying, Dorothy, Mr. Feng Xiaohui and Mrs. Guo Yan; and the independent non-executive Directors of the Company are Mr. Wong Chi Keung, Mr. Liu Erhfei and Mr. Chan Chi Keung Alan.
* For illustration purpose only
5
|
distributed by
|
