("Regal" or the "Company") (OTCBB: RGLG) is pleased to introduce
its new management team, now poised to drive forward the
development of Regal's recent acquisition of RFID technology assets
in China, as well as evaluate accretive opportunities that meet the
Company's corporate mission.
Mr. Su, who now assumes the role of Chairman, graduated with an
engineering degree in 1986 from Nanjing Institute of Technology,
Department of Radio Engineering and subsequently received his MBA
from Tsinghua University. As quoted in the Chinese media, Mr. Su
was an "R&D backbone for China Aerospace Science and Technology
Corporation" in the space and satellite industries, where he served
as Chief Engineer at the Xi'an Satellite Measurement & Control
Center, which center managed the flight of Chinese ballistic
missiles. He has been acknowledged by local media to be
instrumental in the development of domestic synchronous and
earth-orbiting satellites in China and specifically, the
development of the Shenzhou Spaceship master control satellites,
used by the Chinese government to support its manned spaceflight
program. He has previously acted as the Vice General
Manager-Project Development for Shenzhen GrenTech Corp. Ltd (GRRF),
a public company trading on NASDAQ and a leading developer of radio
frequency ("RF") technology and provider of wireless coverage
products and services in China. Since founding DDCT Technology Co.
Ltd. in 2006, his initial foray into the RFID industry and funded
by both its founders and the Shenzhen Bureau of Science and
Technology with RMB5 million (US$735,000) in registered capital,
Mr. Su has been awarded two RFID invention patents in China and in
May 2009, Mr. Su spearheaded an RFID technology initiative for the
promotion of RFID applications in the health, education and
livestock tracking industries in the city of Fuzhou, Jiangxi
Province.
Mr. Tang Jun, our Chief Technology Officer, obtained a master's
degree in engineering in 1985 and a doctor's degree in engineering
in 1988 from the University of Electronic Science and Technology of
China. In 2005, he obtained an MBA degree from China Europe
International Business School. Between 1988 and 1992, Mr. Tang
participated in the broadband optical communication project under
China's 7th 5-year plan and the project won first prize in
technological advancement from the Ministry of Electronics
Industry. In 1996, he co-founded Whole Wise Science &
Technology Co., Ltd., subsequently listed on the Shanghai Stock
Exchange in 2002 (stock code: 600503). In 2003, he led a 100-strong
R&D team at Telthink Network Technologies Co., Ltd., a
subsidiary of Fujian Guomai Technologies, Inc., to help boost
telecom service software sales and laid a foundation for its
subsequent listing on the Shenzhen Stock Exchange (stock code:
002093). Mr. Tang joined DDTC in early 2009 to help oversee the
company's production and operations and contribute to building the
company's core competencies and increasing its market
competitiveness in research and development, production and sales,
human resource and logistics management.
Mr. Tao Wenlong, our Chief Operating Officer at UHF Logistics,
graduated from the Radio Engineering Department of Nanjing
Institute of Technology in July 1986. Between 1986 and 1999, Mr.
Tao acted in various positions in the R&D Department of Kunming
Shipping Equipment Group, culminating in his position as Deputy
Chief Engineer of the R&D department. During his tenure, he was
focused on the research and development of automation systems for
tobacco machinery and developed the first Centralized Monitoring
System for the tobacco production process, which achieved multiple
Science and Technology Advancement Awards. In 1995, Mr. Tao was
awarded "Outstanding Young Scientists of the China Shipbuilding
Industry Corporation", and went to the U.S. and U.K. to further
cooperative research. From 1999, Mr. Tao initially acted as Chief
Engineer (and subsequently became General Manager) of Kunming
Xingaoyuan Science & Technology Co., Ltd, where he has been
responsible for R&D and marketing of automation system and
communication software management for tobacco machinery. During
this time, Mr. Tao presided over the development of a national
level Flavor Compound Center and a Grade Ration Feed System, which
were awarded Technology Advancement Second Awards twice by the
Yunnan branch of China National Tobacco Corporation, and acquired
five Software copyrights successfully. In 2000, Mr. Tao was awarded
the title of "SIEMENS EXPERT" by Siemens China Ltd. Since becoming
General Manager of Kunming Xingaoyuan Science & Technology Co.,
Ltd. in 2005, Mr. Tao has expanded corporate revenues from RMB4
million four years ago to over RMB40 million today. Mr. Tao also
masterminded the first application of RFID in the tobacco industry,
Tobacco Grade Storage Management System, which system has
established the foundation for wider RFID application in the
sector.
Further information:
Please feel free to call Investor Communications toll-free on
1-888-367-3077.
About Regal Group, Inc.
Regal Group, Inc. is a publicly traded company with headquarters
in Phoenix, Arizona. Regal is strategically positioning itself in
key industry sectors in China and recently completed the
acquisition of UHF Logistics Ltd., a HK-incorporated holding
company, which, through its wholly owned Chinese operating
subsidiaries, is focused on the development, marketing and
implementation of UHF RFID products and solutions in China since
2006. Regal trades on the NASDAQ OTC BB under the ticker symbol:
RGLG.
Forward-Looking Statements & Risks
Statements in this news release that are not historical facts are
forward-looking statements that are subject to risks and
uncertainties. Words such as "expects," "intends," "plans," "may,"
"could," "should," "anticipates," "likely," "believes" and words of
similar import also identify forward-looking statements.
Forward-looking statements are based on current facts and analyses
and other information that are based on forecasts of future
results, estimates of amounts not yet determined and assumptions of
management, including, but not limited to, the Company's belief
that Regal can identify and successfully negotiate business
prospects in Asia, and that the Company can successfully operate
such prospects. Actual results may differ materially from those
currently anticipated due to a number of factors and risks beyond
the reasonable control of the Company.
In addition to the risks associated with forward-looking
statements, statements in this news release are subject to
additional risks, which include, among others, the corporate
disclosure, governance and regulatory requirements of the Peoples'
Republic of China (the "PRC"), and PRC regulations relating to,
among others, cross-border mergers and acquisitions, product
liability and currency exchange rates. Even though the transaction
is completed, anticipated synergies or other intended benefits of
the transaction may not be realized, and the prospects of the
combined entity will remain subject to all the general risks
associated with the RFID industry, the public securities markets
and risks related to doing business in China, such as the PRC's
economic, political and social environment, and matters relating to
PRC taxes, repatriation of profit and currency conversion,
acquisition and appropriation of land use rights, foreign
investments, permits and business licenses, employment contracts,
government intervention, shareholders' rights and enforcement of
judgments, as well as the developing PRC legal system. The Company
cautions that the foregoing list of material risks is not
exhaustive.
When relying on the Company's forward-looking statements and
information to make decisions, investors and others should
carefully consider the foregoing factors and other uncertainties
and potential events. Additional information on risks and other
factors that may affect the business and financial results of the
Company can be found in filings of the Company with the U.S.
Securities and Exchange Commission. The Company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date
hereof.
Contact: Regal Group, Inc. Investor Communications Toll-Free:
1-888-367-3077
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