DGAP-Adhoc: Powerland AG: Mr. Jiang Ya Chen appointed new CFO of Powerland AG

Powerland AG / Key word(s): Change of Personnel

16.07.2013 10:35

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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Mr. Jiang Ya Chen appointed new CFO of Powerland AG

- Experienced financial expert with German-Chinese background

Frankfurt / Main, 16 July 2013 - The Supervisory Board of Powerland AG
(ISIN DE000PLD5558 / Prime Standard), the leading Chinese manufacturer of
exclusive handbags and leather goods in the luxury segment, has appointed
Mr. Jiang Ya Chen as the company's new Chief Financial Officer with today's
Supervisory Board resolution. As of 16 July 2013 Mr. Jiang Ya Chen will
take over responsibility. Mr. Cai Qingsheng, who held the CFO position on
an interim basis following the departure of Kelvin Ho, will in his capacity
as Chief Accounting Officer of Powerland AG report to Mr. Jiang Ya Chen.

'We are delighted that with Jiang Ya Chen we are able to welcome an
experienced financial expert as new CFO and member of the Management Board
of Powerland AG', says Dr. Peter Diesch, Chairman of the Supervisory Board
of Powerland AG. 'With his German-Chinese background and excellent
knowledge and expertise in accounting and controlling, finance as well as
audit and internal control, Jiang Ya Chen is perfectly suited to strengthen
the finance and controlling team inside Powerland, support Powerland's
growth strategy and help to further advance the company.'

Before joining Powerland, Mr. Jiang Ya Chen (born 1969) was a Partner and
Head of China at Diverso Innovation Fund, a fund specializing in
investments in European medium-sized businesses, and based in Shanghai.
Before that, he was from 2003 to 2009 Co-Founding Partner of a financial
advisory group specializing in accounting, risk management and corporate
finance as well as auditing processes. Mr. Jiang Ya Chen has an in-depth
knowledge of these areas, which are essential for the position as CFO. He
began his career in the Corporate Finance Division of KPMG in Berlin from
1996 until 2003, where he managed numerous German-Chinese transactions,
among other things. He studied Banking and Commercial Law at Freie
Universität Berlin and finished his studies with the degree 'Diplom
Kaufmann' in 1995, and thus speaks excellent German and English in addition
to his Chinese mother tongue.

Besides Powerland, Mr. Jiang Ya Chen serves as Board Director and Chairman
of the Audit Committee of Golden Shell Photographic Equipments, Shanghai,
one of the world's largest manufacturer of professional flash equipment and
photographic studio lighting products.

For more information, please contact:

Powerland AG
Jiangbin He
Investor Relations Director
Lyoner Strasse 14
60528 Frankfurt am Main
Germany
Phone: +49 (0) 69 66 554 - 459
Fax: +49 (0) 69 66 554 - 276
eMail: ir@powerland.ag
Home: http://www.powerland.ag

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Language: English
Company: Powerland AG
Lyoner Straße 14
60528 Frankfurt am Main
Germany
Phone: +49 69 - 66554-459
Fax: +49 69 - 66554-276
E-mail: ir@powerland.ag
Internet: www.powerland.ag
ISIN: DE000PLD5558
WKN: PLD555
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service

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