Cloopen Group appoints Pengfei Yuan, Ye Yuan, Lei Du, Yuanqi Wang, Ming Zhao and Zi Yang to its Board of Directors

– China, Beijing –  Cloopen Group Holding Limited (OTC: RAASY) today announced the appointments of Pengfei Yuan, Ye Yuan, Lei Du, Yuanqi Wang, Ming Zhao and Zi Yang to its Board of Directors, effective November 30, 2023.

These changes are consecutive to the resignations from the Board of Changxun Sun, Yipeng Li, Xiegang Xiong, Kui Zhou, and Qingsheng Zheng effective from November 30, 2023.

Mr. Changxun Sun, Mr. Yipeng Li, and Mr. Xiegang Xiong will continue to serve as CEO, CFO, and CPO and CTO of the Company, respectively, following their resignation from the Board.

Mr. Cheng Luo, a director and the CEO’s assistant, has been appointed to succeed Changxun Sun as the Chairman of the Board.

Following the preceding changes, the Board currently consists of ten members, including Mr. Cheng Luo, Mr. Pengfei Yuan, Mr. Ye Yuan, Mr. Lei Du, Mr. Yuanqi Wang, Mr. Ming Zhao, and Mr. Zi Yang, and three independent directors, Mr. Adam J. Zhao, Mr. Ziguang Gao, and Mr. Tim Yimin Liu.

About Pengfei Yuan

Mr. Pengfei Yuan has served as our financial director since November 2014. Before joining us, Mr. Yuan served as the financial manager at the finance department of Dongtian Fashion (Beijing) Culture Communications Co., Ltd. from December 2013 to November 2014. Mr. Yuan served as the budget director at the finance department of China Putian Information Industry Co., Ltd. from October 2011 to November 2013. Mr. Yuan also served as a senior consultant at CaseWare Software Development (Beijing) Co., Ltd. from August 2010 to September 2011, and as a senior auditor at Baker Tilly China Certified Public Accountants from November 2005 to August 2010.

Mr. Yuan received his bachelor’s degree in accounting from Beijing Forestry University in July 2006. Mr. Yuan is a member of the Chinese Institution of Certified Public Accountants.

About Ye Yuan

Mr. Ye Yuan has served as VP at HongShan since October 2019. Before joining HongShan, Mr. Yuan worked as a managing director at Zhongrong International Trust Co. Ltd. from October 2013 to October 2019. From July 2011 to October 2013, Mr. Yuan served as a vice investment director at JD Capital.

Mr. Yuan received his bachelor’s degree in financial economics from Erasmus Universiteit Rotterdam in the Netherlands 2008.

About Lei Du

Mr. Lei Du has served as VP at HongShan since April 2016. Before joining HongShan, Mr. Du worked as a Director at Kunwu Jiuding Investment Holdings Co., Ltd. from February 2012 to March 2016. Before that, Mr. Du served as a staff accountant at Ernst &Young from December 2009 to June 2011 and as a presidential assistant at Xueda Education Group from June 2011 to February 2012.

Mr. Du received his bachelor’s degree in accounting from Peking University in July 2009.

About Yuanqi Wang

Mr. Yuanqi Wang has served as a director of cross-border operations of Hunan Hisun Mobile Pay IT Limited since March 2023. From December 2021 to February 2023, Mr. Wang served as a product manager of Beijing Hisunsray Information Technology Co., Ltd. Before that, Mr. Wang served as a research and development specialist at Houghton Street Media Co., Ltd. from March to November 2021. From July 2018 to March 2021, Mr. Wang served as an investment associate at JIC Huawen Investment Limited.

Mr. Wang received his bachelor’s degree in economics from Peking University in July 2015, and his master’s degree in management from Tsinghua University in July 2018.

About Ming Zhao

Mr. Ming Zhao has served in various positions at Hi Sun Advanced Business Solutions (BJ) Ltd. since January 2003, with his current role as the chairman of the board of directors. Before that, Mr. Zhao served as a branch general manager at the Shenzhen Branch of Aude Computer Systems Co., Ltd. from June 2000 to January 2003. Mr. Zhao also served as an independent director of China Science Publishing & Media Ltd. (SHEX: 601858) from February 2018 to February 2023.

Mr. Zhao received his bachelor’s degree in engineering from Anhui University in July 2000, a master’s degree in management science and engineering from the Chinese Academy of Science in July 2012, and a doctorate in management science and engineering from the Chinese Academy of Science in July 2016.

About Zi Yang

Mr. Zi Yang has served as a legal counsel of Trustbridge Partners since March 2018. Before joining Trustbridge, Mr. Yang was a senior associate of Fangda Partners from August 2014 to March 2018. From June 2013 to August 2014, Mr. Yang served as an in-house legal counsel of Green Woods Assets. Mr. Yang also served as a lawyer at JunHe Law Offices from September 2011 to June 2013. Mr. Yang served as our director from July 2019 to February 2021.

Mr. Yang received his bachelor’s degree in law in 2008 and master’s degree in law in 2011 from the East China University of Political Science and Law, and his LL.M from the University of Wisconsin-Madison in 2010.

About Cloopen Group Holding Limited

Cloopen Group Holding Limited is a leading multi-capability cloud-based communications solution provider in China offering a full suite of cloud-based communications solutions, covering communications platform as a service (CPaaS), cloud-based contact centers (cloud-based CC), and cloud-based unified communications and collaborations (cloud-based UC&C). Cloopen’s mission is to enhance the daily communication experience and operational productivity of enterprises. Cloopen aspires to drive the transformation of the enterprise communications industry by offering innovative marketing and operational tactics and SaaS-based tools.

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