BEIJING, Nov. 14, 2011 /PRNewswire-Asia-FirstCall/ –
Yucheng Technologies Limited (NASDAQ: YTEC) today announced it has
added three new members, Mr. Yingjun
Li, Mr. Zhengong Chang, and Ms. Ning
Jia, to its board of directors.
Mr. Yingjun Li has spent nearly
40 years at China Construction Bank ("CCB") where he had various
roles including president of Liaoning provincial branch and Neimeng
provincial branch. Mr. Li is currently a distinguished specialist
at CCB headquarter. Mr. Li is a certified senior accountant and
certified senior banking specialist.
Mr. Zhengong Chang is the chairman of Beijing Fuyuejiasheng
Investment Co., Ltd. Mr. Chang spent over twenty years in
the United States and Canada before he returned to China in 2010. Prior to his return, Mr. Chang
was the president of CBL Data Recovery Technologies Inc. in
Toronto, Canada, and co-chairman
of Federation of Sino-Canadian Business Marketing Association. Mr.
Chang received his Master Degree in Computer Science from
Stevens Institute of Technology in
New Jersey.
Ms. Ning Jia joined the School of
Economics and Management of Tsinghua University as an associate
professor in accounting and financial management in January 2008. Ms. Jia received her Ph.D. in
accounting and Master Degree in statistics, both from Stanford University, and Bachelor Degree in
computer science from University of
Minnesota.
Mr. Li Liao, our board member for
over five years, has resigned from the board due to personal
reasons.
The board of directors now consists of seven directors,
including Mr. Weidong Hong, Chairman
and Chief Executive Officer; Mr. Shuo
Zeng, Chief Operating Officer; and independent directors Mr.
Jeffrey R Williams, Mr. Tianqing
Chen, Mr. Yingjun Li, Mr.
Zhengong Chang, and Ms. Ning
Jia.
Along with the new addition to our board, we also made changes
to various subcommittees of the board.
The Audit Committee is now chaired by Mr. Yingjun Li and consists of Mr. Jeffrey R
Williams and Ms. Ning Jia.
The Strategy Committee is chaired by Mr. Weidong Hong and consists of Mr. Shuo Zeng, Mr. Jeffrey R Williams, and Mr.
Yingjun Li.
The Nominating Committee is chaired by Mr. Tianqing Chen and consists of Mr. Jeffrey R
Williams and Mr. Zhengong Chang.
The Compensation Committee is chaired by Mr. Jeffrey R Williams
and consists of Mr. Zhengong Chang and Mr. Tianqing Chen.
"We are thankful to the support and services Mr. Li Liao provided to the company in the last five
years," Commenting on the changes, Weidong
Hong, Chairman and Chief Executive Officer of the company
stated, "At the same time, we are delighted to have the three new
member join our Board. I believe they can bring extensive
experience and knowledge to help our board in many areas including
corporate governance, accounting & financial management,
business development, and operation management."
About Yucheng Technologies Limited
Yucheng Technologies Limited (NASDAQ:YTEC) is a leading IT
service provider to the Chinese financial service providers.
Headquartered in Beijing, China,
Yucheng services clients from its nationwide network with
approximately 2,500 employees. Yucheng provides a comprehensive
suite of IT solutions to Chinese Banks including: (i) Channel
Solutions, such as e-banking and call centers; (ii) Business
Solutions, such as core banking systems and loan management; and
(iii) Management Solutions, such as risk analytics and business
intelligence. Yucheng has been ranked in the Global FinTech 100
survey of top technology partners to the financial services
industry for in 2007, 2008, and 2009. The independent research firm
IDC also has named Yucheng the No. 1 market share leader in
China's Banking IT solution market
in 2010. For more information about Yucheng Technologies Limited,
please visit www.yuchengtech.com.
Safe Harbor Statement
This press release includes forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 that involve risks and uncertainties.
Forward looking statements are statements that are not historical
facts. Forward-looking statements generally can be identified by
the use of forward looking terminology, such as ''may,'' ''will,''
''expect,'' ''intend,'' ''estimate,'' ''anticipate,'' ''believe,''
''project'' or ''continue'' or the negative thereof or other
similar words. Such forward-looking statements, based upon the
current beliefs and expectations of Yucheng's management, are
subject to risks and uncertainties, which could cause actual
results to differ from the forward looking statements. The
following factors, among others, could cause actual results to
differ from those set forth in the forward-looking statements:
current dependence on the PRC banking industry demand for the
products and services of Yucheng; competition from other service
providers in the PRC and international consulting firms; the
ability to update and expand product and service offerings;
retention and hiring of qualified employees; protection of
intellectual property; creating and maintaining quality product
offerings; operating a business in the PRC with its changing
economic and regulatory environment; and the other relevant risks
detailed in Yucheng filings with the Securities and Exchange
Commission. The information set forth herein should be read in
light of such risks. Yucheng assumes no obligation to update the
information contained in this press release.
For investor and media inquiries, please contact:
In China:
Mr. Steve Dai
Yucheng Technologies Limited
Tel: +86-10-5913-7889
Email: investors@yuchengtech.com
SOURCE Yucheng Technologies Limited
