GUANGZHOU, China, Oct. 17 /Xinhua-PRNewswire/ -- Guangzhou Global Telecom, Inc. (OTC Bulletin Board: GZGT), a mobile phone handset, pre-paid calling card distributor and provider of value-added mobile services in the PRC, today announced a double appointment of former Sancon Recovery Resources Inc (OTC Bulletin Board: SRRY) vice president, acting CFO and financial controller Richard Yan, to the role of chief financial officer and Jingda Ni, the company's current marketing manager, as General Manager.
"We are pleased to have Richard and Jingda on board as chief financial officer and general manager respectively," said Li Yankuan, chief executive officer of Guangzhou Global Telecom. "Richard's combination of management and financial expertise, global perspective and experience in dynamic organizations will bring real value to the company and shareholders, whereas Jingda's appointment is evidence of his significant role in the development of Guangzhou Global Telecom's expansion."
At Sancon Recovery Resources Inc, Richard was in charge of all traditional financial functions including strategic financial planning, financial performance management, treasury, taxation and internal auditing. Before that, Mr. Yan served a variety of positions, including CFO and financial controller at Hartcourt Companies Inc. Earlier in his career, Mr. Yan advanced rapidly at KPMG China and accumulated extensive experience in the areas of financial advisory, auditing and taxation.
Richard is a Certified Public Accountant of China and holds a Bachelor Degree in Economics and MBA from Shanghai JiaoTong University. He replaces Zhihan Hu, who was chief financial officer since 2005.
Jingda Ni joined Guangzhou Global Telecom in 2005 as marketing manager. He previously served as principal supervisor in charge of Marketing with Guangzhou YueShen TaiYang Technology Ltd., a former subsidiary of PacificNet Inc, and accumulated extensive telecommunications expertise and experience there. After playing a senior role in the planning and execution of PacificNet Inc.'s rapid growth in Guangzhou, Mr. Ni was head-hunted to become marketing manager at Guangzhou Global Telecom. His appointment as general manager is testimony of his strengths proven by the current successful expansion and growth of Guangzhou Global Telecom since its inception.
Jingda Ni succeeds Yiwen Wu, who served as general manager since 2005.
Both Richard Yan and Jingda Ni officially started their new roles on October 16, 2008.
About Guangzhou Global Telecom
Guangzhou Global Telecom, Inc. is a national mobile phone handset and pre-paid calling card distributor and provider of mobile handset value-added services. Maintaining cooperative relationships with China Telecom, China Mobile and China Unicom, the Company seeks to become the largest sales and distribution center of mobile phones, mobile phone parts and prepaid mobile phone cards in China. GTL plans to introduce new software and services through an expanded network of regional and neighborhood service centers, shops and virtual stores. For details, please visit our website at http://www.guangzhouglobaltelecom.com .
Safe Harbor Statement
Certain of the statements made in the press release constitute
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
For more information, please contact:
Glenn Yang
Tel: +86-139-2224-7039 or +65-9847-4716
Email: glennyang@guangzhouglobaltelecom.com
