DGAP-News: Joyou AG / Key word(s): Change of Personnel New CFO for Joyou AG 13.08.2014 / 12:54 --------------------------------------------------------------------- New CFO for Joyou AG Hamburg, 13 August 2014. Ms. Dorothy Wu (45) has been appointed as management board member and new Chief Financial Officer (CFO) of Joyou AG by the supervisory board as of 1 September 2014. Ms. Dorothy Wu holds a Master of Business Administration (MBA) and draws upon more than 20 years of experience in several executive positions in finance. Before joining Joyou, she served as Finance Director at Norit Group, and Pacific Finance Manager at GE Advanced Materials, COO of Fujian Septwolves Industry Co., Ltd. and amongst others, she was advisor at Warburg Pincus Asia LLC. Her predecessor, Mr. Zufang Li, has resigned from his position as CFO and management board member in consultation with the supervisory board. He will remain working during the hand-over period to ensure continuity and consistency of financial control and probity. Thereafter, if required, he will be retained in a consultative capacity for the Joyou Group. Mr. Jianshe Cai, CEO of Joyou AG, thanks Mr. Li for his outstanding work and unfailing commitment to the company. "Mr. Li started to work as a financial manager in 1991 for Joyou. During all these years we have appreciated his great efforts and helping to bring the company to the place it is today", says Cai. At the same time, Mr. Cai welcomes Ms. Wu as new CFO: "We are delighted to attract such an experienced person as Ms. Wu, who brings her financial experience gained from major multi-national corporations to assist Joyou moving its next growth level." About Joyou Joyou AG (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) is a leading manufacturer and supplier of bathroom fixtures and fittings. Based in Fujian Province, China, Joyou sells its products under the "JOYOU" brand name in its domestic market and selected international markets. Internationally, Joyou is also a private label supplier for international brands and trading companies around the world. In 2012 Joyou was the leading single-brand manufacturers of bathroom faucets in China in terms of revenues (according to BSRIA's China Bathroom Study 2013). Joyou has established an extensive distribution network in China with over 4,100 individual franchised retail stores as of 31 December 2013. For further information, please contact: Joyou AG Gasstraße 18, Haus 6A 22761 Hamburg Ian M. Oades, tel.: +86-595-8618 8887, [email protected] Kirchhoff Consult AG Jens Hecht, tel.: +49 40 60 91 86 0, [email protected] or visit the company website at: http://www.joyou.com Disclaimer concerning prognoses This communication contains forward-looking statements. Forward-looking statements are statements that are not historical facts instead they reflect Joyou's current views and expectations and the assumptions underlying them about future events. Forward-looking statements are subject to many risks and uncertainties. If any of such risks and uncertainties materialise or if the assumptions underlying any of Joyou's forward-looking statements are proving to be incorrect, Joyou's actual results may be materially different from those expressed or implied by such forward-looking statements. Joyou does not intend or assume any obligation to update these forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. --------------------------------------------------------------------- 13.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Joyou AG Gasstraße 18, Haus 6 A 22761 Hamburg Germany E-mail: [email protected],[email protected] Internet: www.joyou.de ISIN: DE000A0WMLD8 WKN: A0WMLD Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 282108 13.08.2014