Code Chain New Continent Limited Announces Executive Leadership Team to Enter Cryptocurrency Market

NEW YORK, Feb. 2, 2021 /PRNewswire/ -- Code Chain New Continent Limited (the "Company" or "Code Chain") (NASDAQ: CCNC), a leading eco-technology company, is pleased to announce the appointment of David Feng to the role of Co-Chief Executive Officer and Dr. Jianing (George) Yu to the role of Chief Operating Officer, effective immediately.

David Feng holds years of experience as a senior computer network security engineer. As the strategic expert and architect in Blockchain, he has applied for several patents on Blockchain core technology, artificial intelligence, and big data. For an extensive period of time, Feng has researched and explored how to apply Blockchain technology to computer network technology security. He continuously strives to explore the security, technical details, and application of Blockchain cryptocurrency. As a result, he often gets invited to provide e-currency consulting services on various topics like alternative currency planning, Bitcoin processing, compliance, monetization strategy, and risk management, and virtual currency platform.

Since 2006, he worked in the Henan Pingdingshan Branch of China Network Communications Corporation, where he was mainly responsible for the construction services of new countryside informatization. After founding Henan Jinyi Internet Technology Co. Ltd. in October 2008, he held the company's general manager's post by the end of October in 2014. From November 2014 to August, 2016, Feng worked as the technical director at Yikedao (Beijing) Technology Co., Ltd., where he deployed a home delivery application with online and offline services for convenience stores. Feng graduated from Nankai University as a postgraduate student in Internet Finance.

Dr. Jianing (George) Yu, Ph.D. is a respected economist who has achieved recognition for his study in the realm of the digital economy and Blockchain industry. Dr. Yu served as the director of the Institute of Industrial Economics at the Information Center of Ministry of Industry and Information Technology. While there, after having devoted many years to policy research, he was instrumental in the drafting and studying a wide range of policies. Dr. Yu founded Huobi University, an educational and research institution focusing on the frontier fields of new distributed business models, new applications of Blockchain technology, and new digital finance systems. Currently, Dr. Yu currently serves as the president of Huobi University, deputy director of the Blockchain Committee of the China Communications Industry Association, member of the China Computer Federation's Blockchain Committee, and special expert of the Blockchain Pilot Zone within the Hainan Pilot Free-Trade Port.

Dr. Yu's dedicated study makes him a top blockchain expert throughout the realm of IT. In addition to winning the Global Blockchain Leader award, he's been included among the "Top Ten Blockchain Figures in China" and was named the "Blockchain Industry Leader in China" in 2019. He has been invited to teach blockchain courses at some of the world's most prestigious schools, including Peking University, Tsinghua University, University of Hong Kong, and China Europe International Business School. Dr. Yu has also participated in CCTV's and BTV's blockchain programs. His views have been widely reported by CCTV (Focus Report and Economic News), Xinhua News Agency, Economic Daily, Economic Information Daily, China National Radio, People's Daily Online, CNR News, Coindesk, and other global media venues.

Dr. Wei Xu, Co-Chairman of the Company, commented, "I am excited to welcome Feng and Dr. Yu to our executive leadership team. As leaders in Blockchain and computer engineering industries, both Feng and Dr. Yu will bring significant Fintech and operational leadership experience to Code Chain. With their involvement, we expect to better achieve the Company's mission of cryptocurrency expansion through merging industry experts."

About Code Chain New Continent Limited

Founded in 2009, Code Chain New Continent Limited engages in the research, development, and sale of solid waste recycling systems for the mining and industrial sectors, the wholesale and sale of fuel materials, harbor cargo handling services and production and sales of coating materials in the PRC. It provides end-users in these markets with a clean alternative to traditional waste disposal by significantly reducing solid waste discharge into the environment and enabling such users to extract value from valuable metals and other industrial waste materials. Upon completion of Sichuan Wuge Network Games Co., Ltd. ("Wuge"), the Company has also diversified its business. Wuge was established in 2019 and is still in this early developing stage. Wuge produced electronic tokens that combine the five-W elements (when, where, who, why, what), geographic location via the Beidou satellite system and identity information using Code Chain technology. The electronic tokens are unique, tradable, and inheritable digital assets and cannot be tampered. The electronic tokens are based on and stored in the Code Chain system and can be used to monitor and document all kinds of consumer behaviors that involve code-scanning.

For more information about Code Chain New Continent, please visit www.tmsrholding.com.

Safe Harbor Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. These forward-looking statements may include, but are not limited to, statements containing words such as "may," "could," "would," "plan," "anticipate," "believe," "estimate," "predict," "potential," "expects," "intends", "future" and "guidance" or similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to change at any time. These forward-looking statements are based upon management's current expectations and are subject to a number of risks, uncertainties and contingencies, many of which are beyond the Company's control that may cause actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. The Company's actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including those described under the heading "Risk Factors" in the Company's public filings with the Securities and Exchange Commission, including the Company's annual report on 10-K. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable law.

SOURCE Code Chain New Continent Limited

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