ZHENGZHOU, China, March 23, 2011 /PRNewswire-Asia-FirstCall/ -- ZST
Digital Networks, Inc. (Nasdaq: ZSTN) ("ZST" or the "Company"), a
major developer, manufacturer and supplier of digital and optical
network equipment to cable system operators and provider of GPS
tracking devices and support services for transport-related
enterprises in China, today
announced the appointment of Mr. Henry
Ngan to the position of Chief Financial Officer ("CFO").
Mr. Ngan replaces Dr. John
Chen, who resigned on the date of Mr. Ngan's appointment.
Dr. Chen will continue to work with the ZST Digital Board of
Directors and its senior management team to ensure a smooth
transition.
Mr. Bo Zhong, Chairman and Chief
Executive Officer of ZST Digital, said, "I am pleased to welcome
Henry to the ZST Digital management team. He brings with him
seventeen years of experience in security analysis, portfolio
management, accounting, auditing, consulting and senior corporate
management roles, including his most recent position as Chief
Financial Officer of Nasdaq-listed Highpower International Inc. His
extensive Wall Street background, combined with financial expertise
gained in both China and the US,
make him ideally suited to lead ZST Digital's finance function. I
look forward to working closely with Henry as we continue to
capitalize on the growth opportunities in the commercial GPS and
IPTV markets in Henan province. In
addition, I would like to thank John
Chen for his dedication and support during a period of rapid
growth for ZST Digital. His significant contribution to the
development of our financial reporting and investor relations
functions are appreciated, and I wish him the best in his future
endeavors."
Dr. John Chen commented, "I would
like to thank Chairman Zhong and the ZST Digital Board for the
opportunity to work in such a dynamic and rapidly growing company.
I have full confidence in the Company's ability to continue
executing on its strategic and financial objectives, and I look
forward to working with management to ensure a successful
transition."
Mr. Henry Ngan, CFO of ZST
Digital, said, "I am delighted to join the ZST Digital management
team as the Company enters its next phase of growth. The
Company has demonstrated a clear track record of financial and
operational execution, with opportunities for continued expansion
in the rapidly growing market for commercial GPS products and
services. In my role as CFO, I look forward to enhancing ZST
Digital's financial functions while continuing to create value for
all stakeholders."
Prior to joining ZST Digital, Mr. Ngan served as Chief Financial
Officer and Corporate Secretary of Highpower International, Inc.
(formerly Hong Kong Highpower Technology, Inc. – NasdaqGM: HPJ)
from 2009 to 2011, where he was responsible for leading the finance
department in all aspects of corporate financial reporting and
strategic planning. Prior to joining Highpower International, Inc.,
Mr. Ngan worked on Wall Street as an equity analyst in both buy-
and sell-side research from 2002 to 2008 for Brean Murray & Carret, Buckingham Research
Group and Robotti & Co. Mr. Ngan received a Bachelor's degree
in Accounting from the University at
Albany, State University of New
York (Cum Laude), and an MBA in Finance, and Information and
Communication Systems from Fordham
University. Mr. Ngan is also a Certified Public
Accountant licensed in the state of New
York.
About ZST Digital Networks, Inc.
ZST Digital Networks, Inc. (Nasdaq: ZSTN) is a China-based company, principally engaged in
(1) supplying digital and optical network equipment and providing
installation services to cable system operators in China and (2) providing GPS location and
tracking services to local logistics and transportation companies
in China. The Company has
developed a line of IPTV devices that are used to provide bundled
cable television, Internet and telephone services to residential
and commercial customers. The Company has assisted in the
installation and construction of over 400 local cable networks in
more than 90 municipal districts, counties, townships, and
enterprises. The Company has also launched a commercial line of
vehicle tracking devices utilizing our GPS tracking technologies
and support services for transport-related enterprises to track,
monitor and optimize their businesses. For more information
about ZST Digital Networks, Inc., please visit
http://www.shenyangkeji.com.
"Safe Harbor" Statement
This release contains certain "forward-looking statements"
relating to the business of the Company and its subsidiary
companies. These forward-looking statements are often identified by
the use of forward-looking terminology such as "believes, expects"
or similar expressions. Such forward looking statements involve
known and unknown risks and uncertainties, including, but not
limited to, our ability to maintain and increase revenues and sales
of our products; our ability to develop and market new products;
our strategic investments and acquisitions; compliance and changes
in the laws of the People's Republic of
China (the "PRC") that affect our operations; our ability to
obtain all necessary government certifications and/or licenses to
conduct our business; and other risk factors detailed in reports
filed with the Securities and Exchange Commission from time to
time. Investors should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. The Company's actual results could differ materially
from those anticipated in these forward-looking statements as a
result of a variety of factors, including the factors discussed
above and in the Company's periodic reports that are filed with the
Securities and Exchange Commission and available on its website
(http://www.sec.gov). All forward-looking statements attributable
the Company or to 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.
Contacts:
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Investor Relations
(HK):
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Mahmoud Siddig
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Taylor Rafferty
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Tel:
+852-3196-3712
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Email:
zstdigital@taylor-rafferty.com
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Investor Relations
(US):
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Bryan Degnan
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Taylor Rafferty
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Tel: +1 (212)
889-4350
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Email:
zstdigital@taylor-rafferty.com
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Investor Relations
(US):
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BPC Financial
Marketing
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John Baldissera
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Tel:
+1-800-368-1217
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SOURCE ZST Digital Networks, Inc.