BEIJING, April 13, 2024 (GLOBE NEWSWIRE) — Fang Holdings Restricted (OTC: SFUNY) (“Fang” or the “Firm”), a number one actual property Web portal in China, immediately introduced adjustments in its board of administrators (the “Board”) and administration.
Change in Board of Administrators
Mr. Yu Huang (“Mr. Huang”), a director of the Board, has resigned from the Board, efficient from April thirteenth, 2024. Mr. Huang’s resignation didn’t end result from any disagreement with the Firm on any matter regarding the Firm’s operations, insurance policies or practices. Fang thanks Mr. Huang for his efforts and contributions to the Firm.
Upon the effectiveness of Mr. Huang’s resignation, the Board will consist of 5 administrators, together with three impartial administrators.
Adjustments in Administration
Resignation of Chief Monetary Officer
Mr. Peng Cui has resigned from the place of Chief Monetary Officer, efficient April fifteenth, 2024. Peng Cui has been a valued member of the manager crew and has contributed considerably to the corporate’s monetary stability throughout his tenure.
The choice to resign comes after Peng Cui has determined to pursue new alternatives that align together with his skilled aspirations. The corporate respects his resolution and needs him the most effective in his future endeavors.
“I need to thank Peng for his management and his many contributions to Fang by this era of unprecedented change. He has performed an vital function serving to the corporate to get by the powerful occasions whereas constructing a robust finance crew with deep experience, and I stay as assured as ever in the way forward for Fang,” mentioned Board Chairman, Richard Jiangong Dai, “On behalf of the Board of Administrators and all Fang stakeholders, I need to want Peng all the most effective in his future endeavors.”
Fang has initiated a seek for a brand new Chief Monetary Officer and can contemplate each inside and exterior candidates. Fang Holdings Restricted stays dedicated to its strategic objectives and continues to give attention to delivering worth to its shareholders.
About Fang
Fang operates a number one actual property Web portal in China when it comes to the variety of web page views and guests to its web sites. Via its web sites, Fang offers primarily advertising, itemizing, leads era and monetary companies for China’s fast-growing actual property and residential furnishing and enchancment sectors. Its user-friendly web sites help energetic on-line communities and networks of customers looking for data on, and value-added companies for, the true property and residential furnishing and enchancment sectors in China. Fang presently maintains roughly 70 workplaces to give attention to native market wants and its web site and database comprises actual property associated content material masking 658 cities in China. For extra details about Fang, please go to http://ir.fang.com.
Protected Harbor Statements
This press launch comprises forward-looking statements throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934, as amended. Such forward-looking statements are made below the “protected harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995.
All statements apart from statements of historic reality on this announcement are forward-looking statements, together with however not restricted to, the approval and the consummation of the Proposed Transaction or any various transaction. These forward-looking statements could be recognized by terminology akin to “will,” “expects,” “is anticipated to,” “anticipates,” “purpose,” “future,” “intends,” “plans,” “believes,” “are more likely to,” “estimates,” “might,” “ought to” and related expressions. Ahead-looking statements contain inherent dangers and uncertainties and are based mostly on present expectations, assumptions, estimates and projections about Fang and the business, and relate to occasions that contain recognized or unknown dangers, uncertainties and different components, all of that are tough to foretell and plenty of of that are past Fang’s management, which can trigger its precise outcomes, efficiency or achievements to vary materially from these within the forward-looking statements. Additional data relating to these and different dangers, uncertainties or components is included in Fang’s filings with the U.S. Securities and Change Fee. Fang doesn’t undertake any obligation to replace any forward-looking assertion on account of new data, future occasions or in any other case, besides as required below regulation. Though Fang believes that the expectations expressed in these forward-looking statements are affordable, it can’t guarantee you that its expectations will turn into appropriate, and buyers are cautioned that precise outcomes might differ materially from the anticipated outcomes.
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