NEW YORK, July 14, 2017 /PRNewswire/ -- Wecast Network, Inc. (NASDAQ: WCST) ("Wecast" or the "Company"), announced today that the Company's new corporate name, Seven Stars Cloud Group, Inc. will officially be effective Monday, July 17, 2017.
Additionally, effective Monday July 17, 2017, upon the market's open, the Company's common shares will continue trading on the Nasdaq Stock Market under its new trading symbol, "SSC" with no change to the Company's share structure.
Outstanding stock certificates will not be affected by the name change and will not need to be exchanged. All stock trading, filings and market-related information will be reported under the new corporate name and trading symbol.
As stated by CEO Bing Yang in June, "While a corporate name change has already recently occurred, the recent dynamic shift in corporate strategy that the company has undergone since that time, requires a name that will more accurately reflect the Company's new strategy and business. The Company selected a name that could better encompass and further establish its identity in the industry and to more accurately represent its portfolio of cloud-based solutions and services aimed at Chinese and global businesses and enterprises. Even more, the new name both references and will benefit from the established goodwill and brand recognition from our Chairman Bruno Wu's Sun Seven Stars Media Group conglomerate, one of the biggest private media and investment companies in Asia."
About Wecast Network, Inc. (http://corporate.wecastnetworkinc.com)
Wecast Network (NASDAQ: WCST) is aiming to be the leading provider of total B2B business solutions for today's constantly evolving business landscape. With a focus on 'BASE' technology and infrastructure (Blockchain, Artificial Intelligence, Supply Chain & Exchanges) to power our V PaaS (Virtual Platform as a Service), WCST is creating a closed trade ecosystem for buyers and sellers designed to eliminate supply chain and transactional middlemen and create a more direct and margin-expanding trading path for principals. WCST is applying BASE + V PaaS to focus on 3 Core Cloud Areas: I. Brand, Content & Intellectual Property Cloud; II. Product Sales Cloud; III. Transactional Finance Product Cloud. With the three clouds functioning both independently and interdependently, Wecast is creating a vertical, transactional and flexible platform for today's global enterprises.
The Company's mission and vision is to be the world's leading cloud-based, total B2B enterprise solution & platform provider that empowers businesses to grow with Big Data technology.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Wecast Network, Inc.
SOURCE Wecast Network, Inc.