GUANGZHOU, China, July 18, 2014 (GLOBE NEWSWIRE) -- Sungy Mobile Limited (Nasdaq:GOMO) ("Sungy Mobile" or the "Company"), a leading provider of mobile internet products and services globally with a focus on applications and mobile platform development, today announced that its board of directors (the "Board") has appointed Dr. Feng Li as an independent director, effective July 17, 2014. Dr. Feng Li will succeed Mr. Xiaosong Zhang in his role as the chairman of the audit committee of the Board and as a member of the compensation committee and nominating and corporate governance committee of the Board. Additionally, Mr. Xiaosong Zhang has resigned from the Board due to personal reasons, effective July 17, 2014.
Dr. Li is currently a professor of accounting with tenure at the University of Michigan's Stephen M. Ross School of Business. He has authored publications over a range of topics, including employee stock options, annual report readability, and earnings forecasts. Dr. Li has also participated in a variety of consulting projects for leading asset management firms and funds. Dr. Li has spoken as a distinguished guest at top universities, including Harvard and Stanford. Dr. Li received his Ph.D. in accounting and MBA from the University of Chicago, and received his bachelor's degree in economics from Fudan University in China.
Mr.Yuqiang Deng, Chairman and Chief Executive Officer of Sungy Mobile, stated, "We are excited to welcome Dr. Li to our board. His extensive knowledge of corporate finance and accounting will be a great asset for Sungy Mobile, as we strive to enhance our executive team, strengthen corporate governance practices and maximize shareholder value. We look forward to the immense expertise and fresh perspective he will bring to the Company and the board. In addition, we would also like to thank Xiaosong for his great service and contribution to the Company."
About Sungy Mobile Limited
Sungy Mobile Limited is a leading provider of mobile internet products and services globally with a focus on applications and mobile platform development. Sungy Mobile's platform product, GO Launcher EX, manages apps, widgets and functions on Android smartphones and serves as users' first entry point to their phones; it is the mobile access point from which many Android users are able to find new and innovative ways to customize their experience, download apps and interact with their mobile devices every day. For more information, please visit http://www.sungymobile.com.
Safe Harbor Statements
This press release contains forward-looking statements. These statements constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Further information regarding these and other risks is included in Sungy Mobile's filings with the U.S. Securities and Exchange Commission. Sungy Mobile 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 applicable law.
Investor Relations Contact: ICR, LLC Calvin Jiang Tel: +1-646-417-5388 Email: IR@sungymobile.com