SGOCO Group appoints Dominic Li to the Board as Independent Director

– CHINA, Shanghai – SGOCO Group, Ltd. (Nasdaq: SGOC), a company focused on product design, distribution and brand development in the Chinese display, computer and virtual reality product markets as well as energy saving products and services, today announced that the Board of Directors of the Company has appointed Mr. Li, Wang Tai Dominic (“Dominic Li”) as the director of the Company, effective on October 16, 2017, to replace Mr. Kim Sing (Eric) Cheng, who notified the Company his resignation from the Board, effective on October 16, 2017. Mr. Eric Cheng indicated his resignation is for personal reason and not due to any disagreement with the Company.

Mr. Dominic Li, age 34, is the founder and Chief Executive Officer of The Dessert Kitchen, a global dessert franchise with over 30 franchise stores worldwide. Mr. Li has extensive experience in managing franchising businesses, forming strategic allegiances, building and maintaining important supply and distribution networks, implementing marketing and business expansion strategies through traditional media as well as crowdfunding platforms. Mr. Li also has over 10 years of manufacturing and trading experience in Greater China Region and worked closely with factories and distributors, utilizing e-commerce technology and social media platforms. Mr. Li holds a degree in Criminology from the University of Western Sydney, Australia.

The Board determines based on its investigation and the information supplied to the Board with respect to Mr. Li that he is “independent” under the independence requirements of Rule 10A-3 promulgated under the Securities Exchange Act of 1934 and as defined by NASDAQ Rule 5605(a)(2), and that Mr. Li does not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director.

Mr. Shi-Bin Xie, Chief Executive Officer of SGOCO, commented, “we would like to welcome Dominic Li to the SGOCO Board. We are confident that his professional background and industry expertise will prove valuable as the Company continues to market and expand its products and services in China. I also want to thank Mr. Eric Cheng for his contributions during his tenure as a director of the Company and wish him success in his future endeavors.”

About SGOCO Group, Ltd.

SGOCO Group, Ltd. is focused on product design, brand development and distribution in the Chinese display, computer and visual reality (“VR”) product markets as well as energy saving products and services. SGOCO sells its products and services in the Chinese market and abroad.

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