GlobeNewswire Inc | Sep 28, 2020 04:30AM EDT

September 28, 2020

HONG KONG, Sept. 28, 2020 (GLOBE NEWSWIRE) -- UCLOUDLINK GROUP INC. (uCloudlink or the Company) (NASDAQ: UCL), the worlds first and leading mobile data traffic sharing marketplace, today announced recent role changes for its senior management. Xinquan (Victor) Xu, currently Co-Chief Sales Officer, will assume the role of Chief Sales Officer and President of Marketing and Sales. Zhu Tan, currently Chief Strategy Officer, will assume the role of Vice President of Marketing and Sales. Finally, Wen Gao, currently Chief Sales Officer, will assume the role of Chief Strategy Officer.

These changes took effect on September 25, 2020.

The move to restructure these management roles was designed to better align senior leadership positions with the strategic development needs of our business, as the Company continues its endeavors to improve managerial and operational efficiency, explore market opportunities worldwide, and deliver sustainable growth, said Chaohui Chen, Director and CEO of uCloudlink. I am confident uCloudlink will continue to succeed as we execute on our long-term growth plan to redefine the mobile data connectivity experience and capture the tremendous business opportunities globally.

About UCLOUDLINK GROUP INC.

uCloudlink is the worlds first and leading mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Companys products and services deliver unique value propositions to mobile data users, handset and smart-hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative cloud SIM technology and architecture, the Company has redefined the mobile data connectivity experience by allowing users to gain access to mobile data traffic allowance shared by network operators on its marketplace, all while providing reliable connectivity, high speeds and competitive pricing.

For more information, please visit: http://ir.ucloudlink.com

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, expects, anticipates, future, intends, plans, believes, estimates, confident and similar statements. uCloudlink may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about uCloudlinks beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: uCloudlinks strategies; uCloudlinks future business development, financial condition and results of operations; uCloudlinks ability to increase its user base and usage of its mobile data connectivity services, and improve operational efficiency; competition in the global mobile data connectivity service industry; changes in uCloudlinks revenues, costs or expenditures; governmental policies and regulations relating to the global mobile data connectivity service industry, general economic and business conditions globally and in China; the impact of the COVID-19 pandemic to uCloudlinks business operations and the economy in China and elsewhere generally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Companys filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and uCloudlink undertakes no duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

UCLOUDLINK GROUP INC.Bob ShenTel: +852-2180-6111E-mail: ir@ucloudlink.com

The Piacente Group, Inc.Yang SongTel: +86-10-6508-0677E-mail: UCL@tpg-ir.com

In the United States:The Piacente Group, Inc. Brandi PiacenteTel: +1-212-481-2050E-mail: UCL@tpg-ir.com