MDJM LTD Announces Appointment of Dr. Pei-Kai Cheng as Expert Committee Member to Strengthen Cultural Initiatives in the UK

Rhea-AI Summary

MDJM (Nasdaq: MDJH), a global culture-driven asset management company, has appointed Dr. Pei-Kai Cheng to the Expert Committee of its UK subsidiary, MD Local Global Dr. Cheng, a distinguished scholar with a Ph.D. from Yale and postdoctoral research at Harvard, will play a important role in MDJM's cultural projects in the UK. His expertise is expected to enhance strategic planning, design, construction, and operation of these initiatives.

Dr. Cheng's appointment aims to promote cultural value, integrate resources, and advance cultural education. MDJM will compensate him with company shares. This move aligns with MDJM's ongoing projects like TestBed2 in Chongqing and collaboration with Miansu artist Mingyuan Chen, focusing on urban renewal and traditional Chinese art in modern contexts.

Positive

• Appointment of highly qualified expert Dr. Pei-Kai Cheng to strengthen cultural initiatives
• Potential enhancement of MDJM's ongoing and future cultural projects in the UK
• Compensation through company shares aligns Dr. Cheng's interests with MDJM's success

Negative

• None.

News Market Reaction

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On the day this news was published, MDJH declined 2.34%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

LETHAM, Scotland, Aug. 12, 2024 /PRNewswire/ -- MDJM LTD (Nasdaq: MDJH) (the "Company" or "MDJM"), an integrated global culture-driven asset management company, announced today the appointment of Dr. Pei-Kai Cheng to the Expert Committee of its wholly owned subsidiary, MD Local Global Limited, a United Kingdom Company. Dr. Cheng's involvement marks a significant enhancement to MDJM's ongoing cultural projects in the UK, where his expertise will play a crucial role in the strategic planning, design, construction, and operation of these initiatives.

Dr. Pei-Kai Cheng, a highly respected scholar, holds a Ph.D. in History from Yale University and completed postdoctoral research at Harvard University. Throughout his distinguished career, Dr. Cheng has served at prestigious institutions such as New York University, Yale University, and the University of Hong Kong. His leadership roles include serving as Chairman of the Hong Kong Intangible Cultural Heritage Advisory Committee and Chairman of the Hong Kong Branch of the Chinese Folk Literature and Art Association. His research encompasses the history of Chinese cultural consciousness, artistic creation, appreciation, and the intricate relationship between cultural aesthetics and artistic criticism.

Dr. Cheng's appointment is expected to provide substantial support to MDJM's UK cultural projects. His expertise is expected to be instrumental in promoting the cultural value and appreciation of these projects, in order to facilitate the integration of cultural and artistic resources, and advancement of cultural education initiatives. Additionally, it is anticipated that Dr. Cheng will play a key role in fostering East-West cultural exchange, further contributing to MDJM's vision for global cultural and artistic dialogue. MDJM will compensate Dr. Cheng through the issuance of company shares, as consideration for his contributions to the Company's cultural initiatives.

As MDJM continues to advance its new business initiatives, the Company is gradually implementing projects, such as TestBed2 in Chongqing, which focuses on urban renewal and cultural integration, the commencement of which was announced on July 8, 2024, and its collaboration with Miansu artist Mingyuan Chen, announced on April 24, 2024, which highlights traditional Chinese art in modern contexts. Dr. Cheng's expertise is expected to  help elevate these ongoing and future projects, to aid in their successful realization and enhance their global cultural impact.

"We are privileged to have Dr. Pei-Kai Cheng join our team. We anticipate that his profound knowledge and experience in Chinese culture will be invaluable as we continue to develop our cultural projects," said Mr. Siping Xu, Chairman and Chief Executive Officer of MDJM. "MDJM remains committed to expanding its cultural business, with plans to launch exhibitions, forums, art product trading, cultural tourism, and education initiatives through collaborations with global cultural figures."

About MDJM LTD

MDJM LTD is a global culture-driven asset management company focused on transforming historical properties into cultural hubs that blend modern digital technology with rich historical value. The Company is actively expanding its operations in the UK, where it is developing projects such as Fernie Castle in Scotland and the Robin Hill Property in England. These properties are being remodeled into multi-functional cultural venues that will feature fine dining, hospitality services, art exhibitions, and cultural exchange events. As part of its broader strategy, MDJM is positioning itself as a hub for artisan exchanges, art shows, and sales, leveraging its historical properties as platforms for promoting Eastern and Western cultural exchanges. This initiative reflects the Company's commitment to furthering its global market expansion and enhancing its cultural business footprint. For more information regarding the Company, please visit http://ir.mdjmjh.com.

Forward-Looking Statements

This announcement contains forward-looking statements. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's annual report on Form 20-F and its other filings with the U.S. Securities and Exchange Commission.

Investor Contact:

Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386

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SOURCE MDJM LTD

FAQ

Who is Dr. Pei-Kai Cheng and what is his role in MDJM (MDJH)?

Dr. Pei-Kai Cheng is a distinguished scholar with a Ph.D. from Yale University. He has been appointed to the Expert Committee of MDJM's UK subsidiary, MD Local Global , to strengthen the company's cultural initiatives in the UK.

How will Dr. Cheng's appointment impact MDJM's (MDJH) cultural projects?

Dr. Cheng's expertise is expected to enhance strategic planning, design, construction, and operation of MDJM's cultural projects in the UK. He will help promote cultural value, integrate resources, and advance cultural education initiatives.

What are some of MDJM's (MDJH) ongoing cultural projects?

MDJM's ongoing projects include TestBed2 in Chongqing, focusing on urban renewal and cultural integration, and a collaboration with Miansu artist Mingyuan Chen, highlighting traditional Chinese art in modern contexts.

How will MDJM (MDJH) compensate Dr. Cheng for his contributions?

MDJM will compensate Dr. Cheng through the issuance of company shares as consideration for his contributions to the Company's cultural initiatives.