Kandi Announces Appointments of Interim Chief Financial Officer and Vice President of Finance
02/03/2019
Jinhua, China--(January 31, 2019) - Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the "Company," "we" or "Kandi"), announced today that Mr. Mei Bing, resignedfrom the Chief Financial Officerposition forhis personal reasons,to pursue other opportunities effective January 29, 2019. The board of directors approved his resignation. Mr. Mei’s resignation is not the result of any dispute or disagreement with the Company. The board has appointed Ms. Zhu Xiaoying as interim Chief Financial Officer, effective January 29, 2019. Additionally, the board has appointed Ms. Wang Yuanyao as Vice President of Finance, effective February 1, 2019.
Ms. Zhuhas beenengaged in the financial management industry for over 20 years. She hasextensive experience in the financial management of publicly traded companies. From October 2003 to June 2007, Ms. Zhu was the Chief Financial Officer of Zhejiang Kandi Vehicle Co., Ltd.; from June 29, 2007 to April 30, 2015, Ms. Zhu served as Kandi’sChief Financial Officer. After her time as Kandi’s Chief Financial Officer, she returned toZhejiang Kandi Vehicle Co., Ltd. as its Chief Financial Officer, where she is currently employed. Prior to 2003, Ms. Zhu served as afinancialmanager at Zhejiang YongKang Auto ManufacturingCompany. Ms. Zhu graduated from Hangzhou University of Electronic Technology with a degree in accounting in July 1992 and obtained the EMBA certificate from Hong Kong Polytechnic University in 2011. Ms. Zhu has obtained qualification certificate of the chief financial officer, the international registered internal auditor (CIA) qualification certificate, the CMMA international registered management accountant qualification certificate, and the national first-level credit manager qualification certificate in China.
Ms. Wang Yuanyao hasover 12 years ofexperience in the finance, audit, and investment fields with a focus on M&A, strategic planning, budgeting, business support, and internal controls. Prior to joining Kandi, Ms. Wang worked for KPMG (China) as an auditor from 2006 to 2011with extensive auditing experience for companies in theU.S.market in addition tosignificantinternal control experience incomplying withU.S.GAAP and the Sarbanes-Oxley Act. From 2011 to 2012, Ms.Wang served as finance manager of Owens Corning(NYSE: OC), a U.S. publicly traded company. After that, Ms.Wang served as Chief Investment Officer of Oriental Capitalfrom 2012 to 2014; Director of Kaihe Capitalfrom 2014 to 2016; andCFO of Shanghai Bojiang Capital and three subsidiaries owned by Fosun Groupfrom 2017 to 2018. Ms. Wangobtained a CIA certificate and has extensive experience inInternational Accounting Standards. Ms. Wang receiveda B.S. degree in Economics from Zhejiang University in Hangzhou, China and a M.S. degree from Norwegian Business School.
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi commented, “We are thankful forMr. Mei Bing’sgreat work as CFO over the past two yearsand wish him the best in his future endeavors. Ms. Zhu was the first CFO of the Company since it was listed in 2007. After her departure fromthe CFOpositionofthe Companyin May 2015, she continued to serve as the CFO of Zhejiang Kandi Vehicles Co., Ltd.,Kandi’swholly-owned subsidiaryuntiltoday.Beingan important member of our management team, Ms. Zhu has played a key role in the Company's financial management. We believe that Ms. Zhu is the most suitable interim CFO candidate and will lead our finance team to make greater contributions. Additionally, with Ms. Wang Yuanyao's extensive experienceinU.S. GAAP and Sarbanes-Oxley internal controls, their combined efforts and dedicationwill provide a seamless transition and help the Company achieve great results.”
Ms. Zhuhas beenengaged in the financial management industry for over 20 years. She hasextensive experience in the financial management of publicly traded companies. From October 2003 to June 2007, Ms. Zhu was the Chief Financial Officer of Zhejiang Kandi Vehicle Co., Ltd.; from June 29, 2007 to April 30, 2015, Ms. Zhu served as Kandi’sChief Financial Officer. After her time as Kandi’s Chief Financial Officer, she returned toZhejiang Kandi Vehicle Co., Ltd. as its Chief Financial Officer, where she is currently employed. Prior to 2003, Ms. Zhu served as afinancialmanager at Zhejiang YongKang Auto ManufacturingCompany. Ms. Zhu graduated from Hangzhou University of Electronic Technology with a degree in accounting in July 1992 and obtained the EMBA certificate from Hong Kong Polytechnic University in 2011. Ms. Zhu has obtained qualification certificate of the chief financial officer, the international registered internal auditor (CIA) qualification certificate, the CMMA international registered management accountant qualification certificate, and the national first-level credit manager qualification certificate in China.
Ms. Wang Yuanyao hasover 12 years ofexperience in the finance, audit, and investment fields with a focus on M&A, strategic planning, budgeting, business support, and internal controls. Prior to joining Kandi, Ms. Wang worked for KPMG (China) as an auditor from 2006 to 2011with extensive auditing experience for companies in theU.S.market in addition tosignificantinternal control experience incomplying withU.S.GAAP and the Sarbanes-Oxley Act. From 2011 to 2012, Ms.Wang served as finance manager of Owens Corning(NYSE: OC), a U.S. publicly traded company. After that, Ms.Wang served as Chief Investment Officer of Oriental Capitalfrom 2012 to 2014; Director of Kaihe Capitalfrom 2014 to 2016; andCFO of Shanghai Bojiang Capital and three subsidiaries owned by Fosun Groupfrom 2017 to 2018. Ms. Wangobtained a CIA certificate and has extensive experience inInternational Accounting Standards. Ms. Wang receiveda B.S. degree in Economics from Zhejiang University in Hangzhou, China and a M.S. degree from Norwegian Business School.
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi commented, “We are thankful forMr. Mei Bing’sgreat work as CFO over the past two yearsand wish him the best in his future endeavors. Ms. Zhu was the first CFO of the Company since it was listed in 2007. After her departure fromthe CFOpositionofthe Companyin May 2015, she continued to serve as the CFO of Zhejiang Kandi Vehicles Co., Ltd.,Kandi’swholly-owned subsidiaryuntiltoday.Beingan important member of our management team, Ms. Zhu has played a key role in the Company's financial management. We believe that Ms. Zhu is the most suitable interim CFO candidate and will lead our finance team to make greater contributions. Additionally, with Ms. Wang Yuanyao's extensive experienceinU.S. GAAP and Sarbanes-Oxley internal controls, their combined efforts and dedicationwill provide a seamless transition and help the Company achieve great results.”
