GREAT NECK, N.Y., Nov. 1, 2021 /PRNewswire/ -- Sino-Global Shipping
America, Ltd. (NASDAQ: SINO) ("Sino-Global" or the "Company") today
announced that Mr. Lei Cao, Chairman and Chief Executive Officer of
Sino-Global, plans to step down from his role as Chief Executive
Officer effective November 1, 2021.
He will remain Chairman of the Board, ensuring a smooth transition,
having served as Chief Executive Officer since founding the Company
in 2001. To accelerate the Company's diversification and growth in
cryptocurrency and other new markets, the Company's Board of
Directors unanimously elected the Company's Vice President, Mr.
Yang "Leo" Jie to succeed Mr. Lei Cao effective November 1, 2021. Separately, the Company
announced its Acting Chief Financial Officer, Ms. Tuo Pan, has been appointed as its Chief
Financial Officer.
Mr. Lei Cao, Chairman and Chief Executive Officer of
Sino-Global, commented, "I am proud of everything we have achieved
over the past 20 years and Sino-Global's strong financial position.
Several quarters ago, we embarked on an ambitious strategic shift
designed to propel our company into the future of commerce, while
leveraging our extensive successes and global logistics network.
After considerable thought and planning, we believe it is the right
time to empower the next generation to execute the day-to-day
operations with tireless and relentless focus. Mr Yang 'Leo' Jie is
an outstanding executive who knows our business and will lead
Sino-Global in this rapidly evolving business environment. He has
worked closely with me and the Board over the past year and is the
right choice to guide Sino-Global into the new era. I am highly
confident Mr. Yang 'Leo' Jie has the insight and judgment to
deliver the leadership we need today and longer-term. In my
continuing role as Chairman, I look forward to partnering together
to build value for all shareholders."
Mr. Yang "Leo" Jie, Vice President and incoming Chief Executive
Officer of Sino-Global, commented, "Mr. Lei Cao has been a
remarkable leader and provided the vision and drive, establishing
Sino-Global as an important global shipping and logistics company.
His foresight in diversifying into the cryptocurrency market has
given us a meaningful competitive advantage and scalable platform
to accelerate growth. I appreciate Mr.Cao's confidence and the
support of the entire Board of Directors in electing me as Chief
Executive Officer, only the second in the Company's 20-year
history. I believe we have even greater opportunities ahead as we
shift our priority to the U.S., leverage our technology platform
and blockchain to develop new logistics methods, blockchain-related
businesses and complementary services."
Mr. Yang "Leo" Jie has served as Vice President of Sino-Global
since January 2021. He previously
served in management roles in both the U.S. and China. He received a bachelor's degree in
business management from the Beijing Finance and Trade Technology
College.
Acting CFO Appointed CFO
The Nominating/Corporate Governance Committee of the Board
nominated and the Board appointed Ms. Tuo
Pan as the Registrant's new Chief Financial Officer ("CFO")
effective immediately. Ms. Tuo Pan
previously served as the Company's Acting CFO, having worked with
the Company since October 2015. Ms. Tuo Pan holds a Bachelor's degree in Accounting
& Finance from Curtin University of
Technology in Australia,
and a Master's degree in Advance of Accounting from Curtin University of Technology in Australia.
About Sino-Global Shipping America, Ltd. (NASDAQ:
SINO)
Founded in the United States in
2001, Sino-Global Shipping America, Ltd. has been diversifying into
the cryptocurrency market, while continuing to support and grow its
shipping, chartering, logistics and related services business.
Headquartered in New York,
Sino-Global has offices in Los
Angeles, Mainland China, Australia, Canada and Hong
Kong. Additional information about Sino-Global can be found
on the Company's corporate website at www.sino-global.net.
Forward-Looking Statements
Certain statements made herein are "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate", "believe", "expect", "estimate", "plan", "outlook",
and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Such forward-looking statements include SINO's
estimated and future results of operations, business strategies,
competitive position, industry environment and potential growth
opportunities. In addition, there is uncertainty about the spread
of the COVID-19 virus and the impact it will have on SINO's
operations, the demand for SINO's products and services, global
supply chains and economic activity in general. Moreover, the value
of cryptocurrencies may fluctuate significantly over time, and the
success of the JV and its products are not assured. These
forward-looking statements reflect the current analysis of existing
information and are subject to various risks and uncertainties. As
a result, caution must be exercised in relying on forward-looking
statements. Due to known and unknown risks, our actual results may
differ materially from our expectations or projections. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
Additional information concerning these and other factors that
may impact our expectations and projections will be found in our
periodic filings with the SEC, including our Annual Report on Form
10-K for the fiscal year ended June 30,
2021. SINO's SEC filings are available publicly on the SEC's
website at www.sec.gov. SINO disclaims any obligation to update the
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE Sino-Global Shipping America, Ltd.