BEIJING, Jan. 5, 2015 (GLOBE NEWSWIRE) -- ChinaNet Online Holdings, Inc. (Nasdaq:CNET) ("ChinaNet" or the "Company"), a leading B2B (business to business) Internet technology company providing online-to-offline (O2O) sales channel expansion services for small and medium-sized enterprises (SMEs) and entrepreneurial management and networking services for entrepreneurs in the People's Republic of China, announced today that the Board of directors has appointed Mr. Qiu Chang as an independent director.
Mr. Chang is currently a Principal with Sansar Capital focused on special investment opportunities in TMT and healthcare industries and board directors for several organizations. Prior to joining Sansar in 2007, Mr. Chang in 2001 founded FORUN Technologies, a boutique research and consulting firm, established a multi-year track record in selecting winning investments in China, and was ranked as a top analyst by Wall Street Journal Best of Street Annual Analyst Survey. Prior to founding FORUN, Mr. Chang worked as a Business Intelligence Specialist and Market Strategy Analyst at IBM, and as a Principal Investigator and a scientific researcher in several companies and universities. Mr. Chang received an MBA from Columbia Business School, a Ph.D. in Applied Physics from Colorado School of Mines, and a B.S. in Physics from Wuhan University in China.
"We are looking forward to working with Mr. Chang and benefiting from his significant experience in finance and technology, as we continue to focus on our growth with new products and services targeted at China's SMEs," said George Chu, ChinaNet Online's Chief Operating Officer.
About ChinaNet Online Holdings, Inc.
The Company, a parent company of ChinaNet Online Media Group Ltd., incorporated in the BVI ("ChinaNet"), is a leading digital B2B (business to business) Internet technology company focusing on providing O2O sales channel expansion service for small and medium-sized enterprises (SMEs) and entrepreneurial management and networking service for entrepreneurs in China. The Company, through certain contractual arrangements with operating companies in the PRC, provides Internet advertising and other services for Chinese SMEs via its portal websites, 28.com, Liansuo.com and Chuangye.com, TV commercials and program production via China-Net TV, and in-house LCD advertising on banking kiosks targeting Chinese banking patrons. Website: http://www.chinanet-online.com.
This release contains certain "forward-looking statements" relating to the business of ChinaNet Online Holdings, Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ChinaNet's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting ChinaNet will be those anticipated by ChinaNet. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ChinaNet undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.