Yosen Group Welcomes a New Independent Director to Further Build a Competitive Cross-Border O2O Platform

YIWU, China, Sept. 23, 2015

Mr. Er came from Transocean Oil Private Limited ("Transocean Oil") which is an independent licensed bunker supplier and trader accredited by the Maritime Port Authority of Singapore (MPA) to provide bunkering services to international ships calling at Singapore and other ports in the region.  Mr. Er, as a Director, focused on both local and regional strategic investment opportunities, drove business diversification and regional business expansion.  Transocean Oil was ranked No. 3 in the total volume of bunker sold for 2014.  

Before Transocean Oil, Mr. Er dedicated 13 years in the banking and insurance business, involved in private banking, high net worth business development, as well as bancassurance channel business and other insurance services like group and life insurance.  He built very extensive experience with not only sales, administration and operations, but also green field project development and risk management.

Mr. Er served as a Director of Bank of Singapore ("BOS"), a wholly-owned private banking subsidiary of OCBC Bank (Oversea-Chinese Banking Corporation Ltd).  There Mr. Er was responsible for the collaboration on assets under management between BOS and Great Eastern Life Assurance Co Ltd ("GEL"), another subsidiary of OCBC Bank and the second largest financial services group in Southeast Asia by assets, achieved long-term sustainable growth in the private banking business by increasing client acquisition and product penetration, and enhanced client relationship through active advisory, asset allocation and portfolio management.

Before joining BOS, Mr. Er served in GEL for more than 10 years, starting as Chief Representative in GEL's Shanghai office, setting up the first foreign joint venture life insurance company in Chongqing, and later became GEL China's Chief Operating Officer.

Mr. Freddy Er's joining Yosen's Board of Directors came shortly after the Company's announcement of an ex-Alibaba senior manager Mr. Liang Yao came on board as the Chief Operating Officer, indicating Yosen's another significant maneuver to continuously transform and rebrand itself to a comprehensive cross border import & export O2O platform.  The Company is confident that Mr. Er's solid experience with one of the world's leading transportation players will benefit Yosen's international trade business by strengthening its logistics leg, while Mr Er's extensive banking experiences will likely add another competitive edge for Yosen via enhancing the potential in its supply chain financing.

"Mr. Er is a perfect fit for us at the right time", commented Yosen's CEO Mr. Zhenggang Wang, "While Yosen has gradually executed our new positioning to build both off-line and on-line cross border trade channels, we believe Mr. Er will lend us his strategic leadership and the ability to bring new and innovative ideas leveraging on our company's strengths.  Mr. Er's rich business experience in logistics, bank financing, acquisitions and joint ventures, his proven track record of success, plus an extensive China network across the southern, northern and western regions are very valuable to us."