BEIJING, June 20 /Xinhua-PRNewswire/ -- Hurray! Holding Co., Ltd.
(Nasdaq: HRAY), a leader in artist development, music production and wireless music distribution and other wireless value-added services in China, today announced that its President, Chief Operating Officer, and acting Chief Financial Officer Sean Wang will, effective June 20, 2008, resign from his position as President, Chief Operating Officer, and acting Chief Financial Officer of the company. Following his resignation, Ms. Xiaoqing Guo, currently Vice President and Financial Controller of the company, will assume the role of acting Chief Financial Officer of the company.
(Logo: http://www.prnasia.com/sa/200611091912.jpg )
"Sean Wang has contributed significantly to help us execute our strategy to become a leading entertainment content production and distribution house in China. I wish him well in his future endeavors," remarked QD Wang, Chairman and Chief Executive Officer of the company.
"I thank QD Wang and the board for entrusting me with these vital responsibilities, and moving forward, I am confident that Hurray! will achieve further success to become a leading entertainment content production and distribution house in China," commented Sean Wang.
About Hurray! Holding Co., Ltd.
Hurray! is a leader in artist development, music production and offline distribution in China through its record labels Huayi Brothers Music, Freeland Music, New Run Entertainment, and Secular Bird. The Company, through (Fly Songs), also organizes concerts and other music events in China.
Hurray! is also a leading online distributor of music and music-related products such as ringtones, ringbacktones, and truetones to mobile users in China through the full range of wireless value-added services platforms over mobile networks and through the internet.
The Company also provides a wide range of other wireless value-added services to mobile users in China, including games, pictures and animation, community, and other media and entertainment services.
Forward-looking Statements
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward- looking statements by terminology such as "will," "expects," "believes" and similar statements. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: continued competitive pressures in China's wireless value-added services market; changes in technology and consumer demand in this market; the risk that Hurray! may not be able to control its expenses in future periods; Hurray!'s ability to succeed in the music development, production and distribution business, with which it has only limited experience; changes in the policies of the mobile operators in China or the laws governing wireless value-added services; the state of Hurray!'s relationships with China's mobile operators and the risk that Hurray! may be subject to further sanctions and penalties from them in future periods; and other risks outlined in Hurray!'s filings with the Securities and Exchange Commission, including its registration statement on Form F-1, as amended. Hurray! does not undertake any obligation to update this forward-looking information, except as required under applicable law.
For more information, please contact:
Christina Low F.S.
Investor Relations Officer
Tel: +86-10-8455-5566 x5532
Email: IR@hurray.com.cn
