VST Appoints Industry Experts as Directors to Strengthen Corporate Governance and Usher Business Into New Era

VST Holdings Limited
2016-05-31 19:22 2324

HONG KONG, May 31, 2016 /PRNewswire/ -- VST Holdings Limited ("VST ECS", "VST Holdings" or "the Company", HKSE stock code: 00856.HK), the largest supply chain services platform of information technology and communication product solutions in the Asia Pacific, today announced that the Company has appointed Mr. Li Yue and Mr. Yao Jie as Executive Directors of the Company, and Mr. Hung Wai Man and Mr. Wang Xiaolong as Independent Non-Executive Directors of the Company with immediate effect.

Mr. Li Yue is currently the Vice President -- Channel Sales of VST Computers (H.K.) Limited, a subsidiary of the Company. Mr. Li is responsible for the Company's Hong Kong business.

Mr. Yao Jie is currently the Senior Vice President -- Strategy and Investment of the Company. Mr. Yao is mainly responsible for strategy development, merger and acquisition projects and investment, brand communication as well as corporate social responsibility of the Company. Prior to joining the Company, Mr. Yao served as Executive Director and President of New Energy Exchange Limited, which is a subsidiary of China Merchants New Energy Group, and Chief Communications Officer and Spokesperson of United Photovoltaics Group Limited, a Hong Kong listed company under China Merchants Group, responsible for investor relations management and capital market practices. Mr. Yao served as Chief Representative and General Manager of Investor Relations at China XLX Fertiliser Limited, the largest private-owned urea producer in the PRC, responsible for investor relations and offshore fundraising. Mr. Yao has more than 15 years of extensive experience in listed company management, investor relations, capital market fundraising as well as brand communications. Currently, Mr. Yao is Chairman of Peking University Hong Kong Alumni Association, Secretary General of Peking University HK Entrepreneurs Finance & Investment Club, Chairman of Partnership Committee of Hong Kong Investor Relations Association (HKIRA) and Founding Member of Chinese Financial Association of Hong Kong (HCFA).

Mr. Hung Wai Man, JP, is currently the President of Hong Kong Internet Professional Association, Executive Chairman of Chinese Big Data Society, Academic Committee Member of PanGoal Institution and Principal Liaison Officer for Hong Kong, Shenzhen Qianhai Authority. Mr. Hung is a professional ICT investor. He has worked in the computer industry for almost 30 years. A well-known figure in the industry, Mr. Hung has extensive experience in management consulting, project management and outsourcing services. Mr. Hung is a Chartered Information Technology Professional and a fellow of the British Computer Society, the Chartered Management Institute, U.K., the Hong Kong Institute of Directors, the Hong Kong Computer Society and the Internet Professional Association.

Mr. Wang Xiaolong is currently the Vice Chairman of China Trustee Association, Council Member of China Wealth Management 50 Forum (CWM50), Vice Chairman of the Academic Committee of CWM50, the Executive Director and Vice President of Beijing Enterprises Holdings Limited, and President and Vice Chairman of Beijing International Trust and Investment Corporation Limited which is now transformed to Beijing International Trust Co. Ltd. Mr. Wang joined the National Economic System Reform Committee (NESRC) as Director of the Research Office, later he was promoted to be Department Director. He also acted as Deputy Director, Executive Deputy Director of Beijing New-Tech Industry Development Zone. Mr. Wang was appointed as Director, Deputy General Manager of Hong Kong Jing-Tai Industrial (Group) Company Limited, General Manager and Chairman of the Board of Hong Kong Jing-Tai Finance Company Limited, Board Director and President of Hong Kong Jing-Tai Securities Company Limited, and the Board Chairman of Hong Kong Jing-Tai Industry Investment Company Limited. Mr. Wang accumulates a rich and sound experience in finance, trusts, securities and investment funds and enjoys a good reputation in those areas. Mr. Wang has extensive experience in many different industries and areas, such as a variety of investments, merging and acquisition, debt issuances, restructurings, IPOs and more.

Mr. Li Jialin, Chairman of the Board and Chief Executive Officer of VST ECS, said: "On behalf of the Board of Directors, I would like to extend a warm welcome to the four professionals, Mr. Li Yue, Mr. Yao Jie, Mr. Hung Wai Man and Mr. Wang Xiaolong. The Company has recorded profits every year since it was established 25 years ago and its CAGR for revenue and profit growth since listing were 35% and 41%, respectively. The Company achieves a strong cash flow and unit profitability.

"The four new members of the Board have extensive experience in areas of sales management, capital market investment and financing, brand building, Internet as well as cultivating government relationships with sound reputation and network resources. We believe the Board, with its new members, will direct the Company to further enhance the level of corporate governance and provide solid support for the Company's strategic development of 'technology products + financing + internet value-added services' and thus, usher the Company's business into a new era."

About VST Holdings Limited (Hong Kong Stock Code: 00856)

Established in 1991, VST Holdings Limited ("VST ECS", HKSE: 00856.HK) is the largest supply chain services platform of information technology and communication product solutions in the Asia Pacific. VST ECS' CAGR for revenue and profit growth since listing in 2002 were 35% and 41% respectively. In 2015, it achieved a sales breakthrough of HKD45 billion. VST ECS diversifies its business into three major business segments: Product distribution, supply chain services, enterprise-level systems and IT value-added services. VST ECS' diversified products portfolio spanning into 6 fields, including cloud computing, mobile internet, system equipment, software, information security, as well as computers, computer accessories and peripherals. Recently, VST ECS is also establishing its presence in supply chain financing services. VST ECS has over 140 world-renowned upstream strategic partners and over 35,000 downstream channel partners. VST ECS currently has 81 offices in nine countries, namely China, Thailand, Malaysia, Singapore, Indonesia, Cambodia, Myanmar, Laos and the Philippines. For more information, please visit the Company's website:

Source: VST Holdings Limited
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