Hong Kong – April 5, 2018 – Sharing Economy International, Inc. (“SEII” or “the Company”) (SEII), today announced that its Board of Directors has approved the establishment of an Advisory Board (“the Advisory Board”) which will provide professional advice for the Company on its future business development planning and execution. Mr. Daniel Lai, Mr. Alain Le Couédic, Dr. Lo Man Tuen, and Mr. Lee Yu Tai Desmond will serve as members of the Advisory Board effective April 1, 2018.
These four veteran professionals are of great value to the Company as their industry and business experience can guide SEII’s long-term business objectives and strategies. In addition, the Advisory Board will provide advice on significant corporate activities such as prospective mergers & acquisitions and corporate finance transactions. The Advisory Board will help the Company stay on track as it executes its comprehensive business transition from a traditional manufacturing company to a digital economy and highly technology-based business. The Company will continue to identify other suitable persons to join the Advisory Board and utilize their expertise to help the Company to achieve business growth.
Mr. Daniel Lai is a seasoned information technology (“IT”) professional. He was appointed program director of CoolThink@JC in April 2016 to support the steering committee in overseeing the program’s governance, implementation, coordination, alignment, monitoring, and stakeholder’s engagement. Mr Lai is a professor of practice in computing at Hong Kong Polytechnic University, having served as interim vice president of administration in 2015. He is a distinguished fellow, member of advisory council and past president of the Hong Kong Computer Society and a fellow of Hong Kong Institute of Engineers and Hong Kong Institute of Directors. Mr. Lai was government chief information officer of Hong Kong SAR government from January 2012 to January 2015. He was the head of information technology/CIO at MTR Corporation Ltd. from 1999 to 2011 where he led various business transformation initiatives. He held senior IT managerial positions at The Hong Kong Jockey Club (“HKJC”) in Hong Kong and Australia between 1978 and 1999 and played a key role in HKJC’s computerization journey. Mr Lai contributed significantly in promoting the development and application of IT in Hong Kong and the region. He has held many positions in public service and educational institutions. In recognition of his contributions to the development and promotion of IT, Mr Lai was awarded Bronze Bauhinia Star (BBS) in 2004 and appointed a justice of peace in 2001. He has also received many local, regional, and international CIO Awards. Mr. Lai has a master’s degree in technology management, management and computing from The Hong Kong Polytechnic University and a master’s degree in technology management from Griffith University.
Mr. Alain Le Couédic is a partner and vice president of Roland Berger Greater China. He focuses primarily on working with financial services clients in Greater China in the firm’s Financial Services Competence Center. Mr. Le Couédic has over 19 years of professional consulting experience and has been based in Hong Kong for the last 15 years. During this time, Mr. Le Couédic has helped clients solve issues related to strategy, organization, operations, mergers & acquisitions, and private equity. Prior to joining Roland Berger, Mr. Le Couédic was a partner and managing director of the Boston Consulting Group in their Financial Institutions Practice, and also led that firm’s organization practice in Greater China. Additionally, he served as the corporate banking segment head for Asia and headed their Hong Kong and Taipei offices. Prior to this, Mr. Le Couédic worked as a consultant of A. T. Kearney in its New York and Hong Kong offices. Mr. Le Couédic holds an MBA from Columbia Business School and an MS (Ingénieur) from Institut National Agronomique.
Dr. Lo Man Tuen serves as the chairman of Wing Li Group (International) Ltd., Wing Li Packaging Limited, Glory Sign International Limited and Wing Li Trading (China) Co Ltd. He has been an independent non-executive director at Hanergy Thin Film Power Group Limited (0566.HK) since September 2017, and has been a non-executive director of China Shandong Hi-Speed Financial Group Limited (0412.HK) since November 2017. Dr. Lo is also active in public service. He has served as president of Hong Kong Association for the Promotion of Peaceful Reunification of China in 2013. He is a member of the 12th National Committee of the Chinese People’s Political Consultative Conference. He has been the vice chairman of the subcommittee for Foreign Affairs of CPPCC National Committee since 1998. He was appointed as the vice-chairman of the All-China Federation of Industry and Commerce in 2013. Dr. Lo was also nominated as the honorary life chairman of the Chinese General Chamber of Commerce of Hong Kong in 2016. He obtained an honorary doctorate in philosophy from Armstrong University in the United States in 2006 and an honorary doctorate of management from Lincoln University in 2013.
Mr. Lee Yu Tai Desmond held academic roles in several tertiary educational institutions in Hong Kong such as The Chinese University of Hong Kong, the Hong Kong Polytechnic University and Lingnan University. He served as an executive director of Che Hon and Lucky Arrival Toy Manufacturing Co Ltd. In addition, he served as an elected member of the Hong Kong Legislative Council during the period of 1985 to 1988. Mr. Lee is currently serves as honorary consul for Fiji Islands in Hong Kong.
About Sharing Economy International Inc.
Sharing Economy International Inc., through its affiliated companies, designs, manufactures and distributes a line of proprietary high and low temperature dyeing and finishing machinery to the textile industry. The Company’s latest business initiatives are focused on targeting the technology and global sharing economy markets, by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models. Moreover, the Company will actively pursue blockchain technology in its existing and to-be-acquired business, enabling the general public to realize the beauty of resource sharing. For more information visit www.seii.com
Safe Harbor Statement
This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary and affiliated companies and certain potential transactions that they may enter into. 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 that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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 those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website, including factors described in “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K for the year ended December 31, 2016 and in our Form 10-Q for the quarter ended September 30, 2017. All forward-looking statements attributable to 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.
Sharing Economy International Inc.
Joseph Chow, Director of Investor Relations