Energy 1 Corp. announces change to board composition - Liu Yicheng, Cao Yilin and Zhang Jinyuan has officially joined the board

SHANGHAI, July 16, 2021 /PRNewswire/ -- As a global innovative technology service company, Shanghai Yicheng Culture Communication Co., Ltd announced the acquisition of Energy 1 Corporation. (Stock Code: EGOC), which is headquartered in Nevada, USA. Shanghai Yicheng Culture Communication Co., Ltd has acquired 100% of the equity interest of the target company. Pursuant to the agreement of the party, Energy 1 Corp. has held a board meeting and announced that from 13 July 2021 onwards, Mr. Liu Yicheng (originally Liu Chuanyi) has been appointed as the chairman of the board, Mr. Cao Yilin (originally Cao Zhong) and Mr. Zhang Jinyuan (originally Lianzhong) as the directors. As at the date of this announcement, Mr. Liu Yicheng has become the largest shareholder of EGOC. This announcement will take effect from 13 July 2021.

The board of EGOC would like to warmly welcome Mr. Liu Yicheng, Mr. Cao Yilin and Mr. Zhang Jinyuan to join the board. Mr. Liu Yicheng, the new chairman of the board, is currently the chairman of the board of Shanghai Yicheng Culture Communication Co., Ltd and its subsidiaries. He has accumulated numerous years of practical experiences in various industries. The business development of the group mainly focuses on medical health, innovative retail and scientific and technological research and development. In this board resolution, Mr. Liu has been appointed as chairman of the board with a service contract beginning from 13 July 2001. Mr. Liu's presence in Energy 1 Corp. board would be a milestone for the company.

Mr. Cao Yilin, the new member of the board, is an e-commerce entrepreneur who born in the 80s. He has profound experience in new retailing under innovative e-commerce. He has founded Guangzhou Zhongxiang Network Technology Co., Ltd. and dreams of making countless of Chinese women to have a successful career and a happy family, meanwhile achieving self-actualization and creating social value. He established the e-commerce platform, TaoLinDi in 2019, mainly selling daily necessities, cosmetics, health food and other essential goods. In just two years, the platform has more than 1.6 million registered users, over 5 million active users, nearly 800 service providers, covering 280 + cities and regions in China. The total GMV of the platform's has exceeded 170 million.

"It is a great honor to join Energy 1 Corp (EGOC) as a member of the board. I appreciate Mr. Liu Yicheng's outstanding leadership and vision. In future, we will become a family. TaoLindi platform will be fully merged to Shanghai e-Cheng Culture Communication Co., Ltd. by integrating the businesses of both sides, in order to be inclusive and innovative. I look forward to working and growing together, most importantly, contributing to the development of the company," expressed Mr. Cao Yilin, the executive chairman of the smart retail of Guangzhou Zhongxiang Network Technology Co.

"I am extremely grateful for the full support from various social actors. As the incumbent chairman of the board of EGOC, the change of the board and the addition of distinguished individuals will inject huge resources and vitality into EGOC and Shanghai Yicheng Culture Communication Co., Ltd., as well as excellent experience in the corporate governance. Their successful experiences will accelerate our growth and lead the development of the company. The binding and integration of the two companies will take Shanghai e-Cheng Culture Communication Co., Ltd. to a higher level. I look forward to working with them to continue to lead the new journey of the platform innovatively in the future," remarked Mr. Liu Yicheng, the new chairman of the board of directors of EGOC responded to the board of EGOC.

Besides the changes of the board composition of EGOC, there are changes in senior management corresponding strategic adjustments. Ms. Gu Juan, the former senior manager of Shanghai Yicheng Culture Communication Co., Ltd., has been appointed as the Secretary of the board; Mr. Liu Chuangong (originally Liu Tao) as the chief financial director of the group, and Sun Peng as the chief marketing officer of the group.

Up till now, Shanghai e-Cheng Cultural Communication Co., Ltd. has entered a new phase in the U.S. capital market. As a comprehensive cross-sector group integrating health industry, smart retail industry and biotechnology, Shanghai e-Cheng Cultural Communication Co., Ltd. will expand its global business. Furthermore, we will continue to provide better services to users and create greater user value, as well as delivering a concept of good life and service to give back to the community.

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SOURCE Energy 1 Corp.