New York, Feb. 18, 2020 (GLOBE NEWSWIRE) — BOQI International Medical Inc. (NASDAQ: BIMI) (“BIMI” or the “Company”) today announced the appointment of Mr. Xiaoping Wang as Chief Operating Officer (“COO”). As COO, Mr. Wang has responsibility for the company’s supply chain and sourcing operations, demand planning, distribution, information technology, business process management, corporate real estate, asset protection and sustainability.Prior to joining BOQI International Medical, Mr. Xiaoping Wang has 15 years of executive experience in pharmaceutical companies. Mr. Wang is the Founder, Chairman and CEO of Chongqing Guanzan Technology Co., Ltd. (“Chongqing Guanzan”), and Chongqing Shude Pharmaceutical Co., Ltd. (“Chongqing Shude”) He utilized his expertise to scale the two companies and opened up significant distribution channels. Prior to this role, he also served as the National Sales Director of Fujian Hongcheng Bio-Medical Co., Ltd.As a result of an internal restructuring, Chongqing Shude is now a subsidiary of Chongqing Guanzan. BOQI International Medical has entered into a stock purchase agreement to acquire Chongqing Guanzan. The acquisition is progressing smoothly and is expected to close on or before April 20, 2020. After the acquisition close, Mr. Wang will continue serving as Chairman and CEO of Chongqing Guanzan, in addition to his role as COO of BOQI International Medical.“As a seasoned expert and trusted leader of the pharmaceutical industry, Mr. Wang is uniquely qualified to drive even greater strategic prioritization, productivity and accountability within BOQI International Medical,” said Mr. Tiewei Song, Chief Executive Officer and President of BOQI International Medical Inc. “His lengthy and successful career in pharmacy chain and supply chain operations will be of great value to BOQI International Medical as we grow our current services, expand our geographic reach and diversify our healthcare offerings.”“BOQI International Medical is poised to expand its online and offline business. I’m honored to join the team at such a pivotal time,” explained Mr. Xiaoping Wang. “Along with Mr. Tiewei Song and the rest of the executive team, I look forward to realizing our strategic vision and significantly accelerating our ability to meet the demand of the market.”About BOQI International Medical Inc.BOQI International Medical Inc. (formerly known as NF Energy Saving Corporation) (NASDAQ: BIMI) was founded in 2006. In February 2019, the Board of Directors of the company was reorganized following efforts led by Mr. Yongquan Bi, the company’s new Chairman, with a renewed focus on the health industry. The company is now transforming from a provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to a medical and health service provider. BOQI International Medical Inc. offers a broad range of consumer-directed health products and related services, including medical, pharmacy and behavioral health plans, chronic disease management services, and health information technology products and services. BOQI International Medical Inc. is community-based and locally focused, engaging consumers with more affordable, accessible, simple and seamless care they need when and where they need it.Safe Harbor StatementThe statements contained herein that are not historical facts are considered “forward-looking statements.” Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” or “anticipates” or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, statements regarding the efficacy of investment in research and development are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the effect of political, economic, and market conditions and geopolitical events; legislative and regulatory changes that affect our business; the availability of funds and working capital; the actions and initiatives of current and potential competitors; investor sentiment; and our reputation. We do not undertake any responsibility to publicly release any revisions to these forward-looking statements to take into account events or circumstances that occur after the date of this report. Additionally, we do not undertake any responsibility to update you on the occurrence of any unanticipated events, which may cause actual results to differ from those expressed or implied by any forward-looking statements. The factors discussed herein are expressed from time to time in our filings with the Securities and Exchange Commission available at http://www.sec.gov.IR Contact:
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