BEIJING, March 11, 2021 /PRNewswire/ -- AirNet Technology
Inc., formerly known as AirMedia Group Inc. ("AirNet" or the
"Company") (Nasdaq: ANTE), an in-flight solution provider on
connectivity, entertainment, and digital multimedia
in China, today announced a change in its management.
Mr. Xin Li has tendered his
resignation as the chief financial officer of the Company,
effective from March 5, 2021. Mr.
Li's resignation was due to personal reasons, and did not result
from any disagreement nor dispute with the Company, its management,
board of directors (the "Board") or any committee of the
Board, on any matter relating to the Company's operations,
policies or practices. The Board has accepted Mr. Li's resignation
and appointed Mr. Herman Man Guo,
chairman and chief executive officer of the Company, as its interim
chief financial officer until a suitable candidate for chief
financial officer is identified. Furthermore, the Board has
approved a consultancy agreement engaging Mr. Li as a consultant to
the Company until September 4,
2021.
"On behalf of the board of directors and management, I would
like to thank Mr. Li for all his contributions to the Company and
wish him the very best in the future," commented Mr. Herman Man Guo, chairman and chief executive
officer of the Company. "In the meantime, the Company will look for
the suitable candidate for chief financial officer during this
transition period."
About AirNet Technology Inc.
Incorporated in 2007 and headquartered
in Beijing, China, AirNet provides in-flight solutions to
connectivity, entertainment and digital multimedia in China.
Collaborating with our partners, AirNet empowers Chinese airlines
with seamlessly immersive Internet connections through a network of
satellites and land-based beacons, provides airline travelers with
interactive entertainment and a coverage of breaking news, and
furnishes corporate clients with advertisements tailored to the
perceptions of the travelers. For more information, please visit us
at http://ir.ihangmei.com
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of 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," "is expected to," "anticipates," "aim," "future,"
"intends," "plans," "believes," "are likely to," "estimates,"
"may," "should" and similar expressions. The Company may also make
written or oral forward-looking statements in its reports filed
with, or furnished to, the U.S. Securities and Exchange Commission,
in its annual reports 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 the Company's beliefs
and expectations, are forward-looking statements. Forward-looking
statements are based upon management's current expectations and
current market and operating conditions, and involve inherent risks
and uncertainties, all of which are difficult to predict and many
of which are beyond the Company's control, which may cause its
actual results, performance or achievements to differ materially
from those in the forward-looking statements. Potential risks and
uncertainties include, but not limited to the following: its
ability to achieve and maintain profitability; its ability to
continuously improve its solutions and services enabling inflight
connectivity; its ability to compete effectively against its
competitors; the expected growth in consumer spending, average
income levels and advertising spending levels; the growth of the
inflight connectivity industry in China; and government policies affecting the
inflight connectivity industry in China. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
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SOURCE AirNet Technology Inc.