Digital China Holdings Limited ("Digital China" or "the Company") (Stock code: 861.HK), a leading IT distribution and services company in the PRC, is pleased to announce following the Company’s interim Board meeting, the appointment of Mr. Andrew Y. YAN, Mr. CHEN Derek Zhiyong, Mr. LUO Hong and Mr. TANG Xudong as Non-executive Directors of the Company, effective 19 December 2007. Additionally, Mr. GUO Wei, the Company’s current President and CEO, was appointed Chairman of the Board effective 19 December 2007.
Mr. Andrew Y. YAN received a Bachelor degree in Engineering from the Nanjing Aeronautic Institute in the PRC in 1982, a Master degree in Sociology from Beijing University in 1986 and a second Master degree from Princeton University in International Political Economy in 1989. Mr. YAN is currently a Managing Partner of SAIF Partners (“SAIF”). Mr. YAN has been voted by the China Venture Capital association as “The Venture Investor of the Year” in both 2004 and 2007. Mr. Yan has also been selected as one of the “Fifty Finest Private Equity Investors in the World” by Private Equity International in 2007.
Mr. CHEN Derek Zhiyong graduated with a Bachelor of Science degree in Electrical Engineering from University of Illinois at Urbana-Champaign and obtained a Master of Business Administration from Columbia Business School. He joined SAIF Partners III L.P. in March 2004 and is currently a Director. Prior to joining SAIF Partners III L.P., Mr. Chen worked with CITIC Frontier China Research Limited as an Investment Analyst, Equity Research Associate with Thomas Weisel Partners, San Francisco (NASDAQ “TWPG”) and worked with Cisco Systems, Inc. and Procter & Gamble.
Mr. LUO holds a Bachelor’s degree in Electrical Engineering and a Master’s degree in Technology Management from School of Economics and Management of Tsinghua University, and a Master of Business Administration from Harvard Business School. Mr. LUO has been with Hony Capital Limited since 2004 and is currently the Managing Director of Hony Capital Limited. Prior to joining Hony Capital Limited, Mr. LUO was the Vice General Manager of Legend Capital Limited and General Manager of the Strategic Investment Department of Lenovo Group Limited (Stock Code: 992.HK).
Mr. TANG Xudong graduated from Central University for Nationalities in 1986 and received an EMBA degree from Cheung Kong Graduate School of Business in 2005. He joined Legend Holdings Limited in 1990 and he is currently the Vice President of Legend Holdings Limited and is a director of Raycom Real Estate Development Co. Ltd. and APLL-ZhiQin Co. Ltd. Mr. TANG has over 10 years of experience in corporate administration, business development, investment management, human resources management and legal affairs at the Group’s head office. He is also the vice president of the Beijing Intellectual Property Research Council.
Also effective 19 December 2007, Mr. LI Qin and Mr. ZENG Maochao retired from their positions as Executive Directors of the Company due to retirement and Mr. HUA Zhinian has resigned from his position as an Executive Director of the Company due to change in his job duties. Mr. LI Qin should ipso facto ceased to be the Chairman of the Board.
Mr. GUO Wei, Chairman and CEO of Digital China, commented, "We would like to express our gratitude to Mr. LI Qin, Mr. ZENG Maochao and Mr. HUA Zhinian for their valuable contribution to the Company over the years during their tenure of service. And we are also pleased to welcome Mr. Andrew Y. YAN, Mr. CHEN Derek Zhiyong, Mr. LUO Hong and Mr. TANG Xudong.”
About Digital China
Digital China Holdings Limited (“Digital China” or “the Group”; Stock Code: 861.HK) is a leading information technology company in China. Headquartered in Beijing, Digital China has regional centres in 19 major cities in China. Digital China focuses on three major business segments: Distribution of IT products; Systems Integration and IT services. Digital China distributes a vast range of IT products including PCs, servers, storage products, peripherals, networking products, mobile office equipment, wireless access equipment and software through a network of over 9,000 resellers and agents across the country. The Group has maintained its number 1 position in IT product distribution while it has increasingly focused on expanding into IT services. Featured products include self-developed and proprietary application packages such as Sm@rtBanking, Sm@rtBoss and CTAIS that are customized for specific industry needs, ranging from banking, and telecommunications to the government and public sectors.