TuanChe Limited Announces Appointment of Acting Chief Financial Officer

Rhea-AI Summary

TuanChe Limited (NASDAQ: TC), a prominent automotive marketplace in China, has appointed Mr. Wei Wen as the acting Chief Financial Officer, effective February 17, 2023. This interim role is part of the company's ongoing search for a permanent CFO. TuanChe connects automotive consumers with industry players, offering integrated marketing and transaction services through online and offline platforms. This strategic move aims to maintain operational efficiency during the transition period in leadership.

Positive

• Appointment of Wei Wen as acting CFO may provide continuity in financial management.
• Mr. Wei Wen's leadership could bring fresh perspectives during the transition.

Negative

• Ongoing search for a permanent CFO raises concerns about leadership continuity.
• Transition period might create uncertainty among investors regarding financial strategy.

BEIJING, Feb. 17, 2023 /PRNewswire/ -- TuanChe Limited ("TuanChe" or the "Company") (NASDAQ: TC), a leading integrated automotive marketplace in China, today announced that the board of directors of the Company has appointed Mr. Wei Wen, the Chief Executive Officer of the Company, as the acting chief financial officer of the Company, effective on February 17, 2023, while the Company continues its active search for the right candidate to join the Company as chief financial officer.

About TuanChe

Founded in 2010, TuanChe Limited (NASDAQ: TC) is a leading integrated automotive marketplace in China. TuanChe offers services to connect automotive consumers with various industry players such as automakers, dealers and other automotive service providers. TuanChe provides automotive marketing and transaction related services by integrating its online platforms with offline sales events. Through its integrated marketing solutions, TuanChe turns individual and isolated automobile purchase transactions into large-scale collective purchase activities by creating an interactive many-to-many environment. Furthermore, leveraging its proprietary data analytics and advanced digital marketing system, TuanChe's online marketing service platform helps industry customers increase the efficiency and effectiveness of their advertising placements.

For more information, please contact ir@tuanche.com.

For investor and media inquiries, please contact:

TuanChe Limited
Investor Relations
Tel: +86 (10) 6397-6232
Email: ir@tuanche.com

The Piacente Group, Inc.
Brandi Piacente
Tel: +1 (212) 481-2050
Email: tuanche@tpg-ir.com

View original content:https://www.prnewswire.com/news-releases/tuanche-limited-announces-appointment-of-acting-chief-financial-officer-301749617.html

SOURCE TuanChe Limited

FAQ

Who has been appointed as the acting CFO of TuanChe Limited?

Mr. Wei Wen has been appointed as the acting Chief Financial Officer of TuanChe Limited effective February 17, 2023.

What is the significance of Wei Wen's appointment as acting CFO for TuanChe Limited?

Wei Wen's appointment aims to ensure continuity in financial management while the company searches for a permanent CFO.

When did TuanChe Limited announce the appointment of its acting CFO?

TuanChe Limited announced the appointment of Mr. Wei Wen as acting CFO on February 17, 2023.

What challenges might TuanChe Limited face with the acting CFO role?

The company could face challenges related to leadership continuity and investor confidence during the search for a permanent CFO.