BEIJING, July 6 /Xinhua-PRNewswire-FirstCall/ -- Vimicro International Corporation (Nasdaq: VIMC), a leading fabless semiconductor company that designs and develops multimedia semiconductor products and solutions, today announced the hiring of Quincy Tang as Vice President of Accounting and Chief Financial Officer. Mr. Tang is a fellow member of the Hong Kong Institute of Certified Public Accountants and has more than twenty years of executive financial experience.
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"We are very pleased to announce the appointment of Quincy Tang to our management team," commented John Deng, Chairman and Chief Executive Officer of Vimicro. "We believe his accounting, operational and strategic background will be highly valuable in leading our accounting team."
Prior to joining Vimicro, Tang served as the Chief Financial Officer of Monstermob Group Plc, a global mobile phone content provider listed on the Alternative Investment Market (AIM) of the London Stock Exchange. Previous to this position, he served as Finance Director of TOM Group Limited, the parent company of NASDAQ-listed TOM Online, Inc., a leading Chinese wireless Internet and web portal company. Tang began his career with Deloitte Touche Tohmatsu where he served as an auditor.
About Vimicro International Corporation
Vimicro International Corporation is a worldwide leading fabless semiconductor company that designs, develops and markets proprietary embedded multimedia signal processing chips and solutions that enable multimedia applications for mobile phones over 2.5G/3G networks and PCs over broadband Internet. Vimicro's ADSs, each of which represents four ordinary shares, are currently trading on the NASDAQ global market under the ticker symbol "VIMC."
Forward Looking Statements
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of 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," "confident" and similar statements. Among other things, the quotations from management in this announcement, as well as Vimicro's expectations and forecasts, contain forward-looking statements. Vimicro may also make written or oral forward- looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Vimicro's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward- looking statement, including but not limited to the following: our limited history of achieving net profit; our growth strategies; our future business development, results of operations and financial condition; our ability to develop and sell mobile multimedia processors that meet changing consumer preferences and industry standards; decrease in the demand for our notebook and PC camera multimedia processors and third-party image sensors which we bundle with some of our PC camera multimedia processors; our ability to secure sufficient foundry capacity in a timely manner; our ability to maintain existing customers and attract new customers; and the expected growth of the mobile multimedia processor market. Further information regarding these and other risks is included in our annual report on Form 20-F filed with the Securities and Exchange Commission. Vimicro does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of July 6, 2007, and Vimicro undertakes no duty to update such information, except as required under applicable law.
