BEIJING, March 1, 2017 /PRNewswire/ -- VisionChina Media
Inc. ("VisionChina Media" or the "Company") (Nasdaq: VISN), one of
China's largest out-of-home
digital television advertising networks on mass transportation
systems, today announced that Mr. Arthur Wong has
resigned as an independent member of the Company's Board of
Directors, (the "Board"), Chairman
of the Audit Committee, a member of
the Compensation
Committee and the Corporate Governance and Nominating
Committee due to personal reasons,
effective January 15, 2017.
Mr. Limin Li, Chairman and Chief
Executive Officer of VisionChina Media, commented, "On behalf of
the Board, I would like to thank
Mr. Arthur
Wong for his significant contributions to the Company for the past six years. We wish him
all the best in his future
endeavors. "
About VisionChina Media Inc.
VisionChina Media Inc. (Nasdaq: VISN) operates an out-of-home
advertising network on mass transportation systems, including buses
and subways. As of September 30,
2016, VisionChina Media's advertising network included
approximately 58,365 digital television displays on mass
transportation systems in 14 of China's economically prosperous cities,
including Beijing, Guangzhou and Shenzhen, as secured by exclusive agency
agreements or joint venture contract. VisionChina Media has the
ability to deliver real-time, location-specific broadcasting,
including news, stock quotes, weather and traffic reports, and
other entertainment programming.
In addition, VisionChina Media, through its consolidated
affiliate Qianhai Mobile, has secured exclusive concession rights
for bus Wi-Fi services in 25 cities across China, including Shanghai, Shenzhen, Guangzhou and Tianjin, covering approximately 80,000 buses.
Currently, Qianhai Mobile provides free Wi-Fi Internet services on
over 35,000 buses under the brand name "VIFI," spanning over 15
million commuters and providing over 6 million Wi-Fi service
sessions per day.
For more information, please visit
http://www.visionchina.cn.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in 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" and similar statements.
Among other things, the quotations from management in this press
release contain forward-looking statements. Such statements involve
certain risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements.
Further information regarding these and other risks is included in
the Company's filings with the U.S. Securities and Exchange
Commission, including its registration statement on Form F-1 and
its annual report on Form 20-F. 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 applicable law.
For investor and media inquiries, please contact:
In China:
Ms. Shuning Yi
Investor Relations Department
VisionChina Media Inc.
Tel: +86 134-2090-9426
E-mail: shuning.yi@visionchina.cn
Mr. Ross Warner
The Piacente Group, Inc.
Tel: +86 (10) 5730-6200
E-mail: visionchina@tpg-ir.com
In the United
States:
Mr. Alan Wang
The Piacente Group, Inc.
Tel: +1 212-481-2050
E-mail: visionchina@tpg-ir.com
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SOURCE VisionChina Media Inc.
