Bullish indicating open at $55-$60, IPO prices at $37
NEW YORK - Lotus Technology Inc. (NASDAQ:LOT), a global provider of intelligent and luxury mobility solutions, announced today the appointment of Mr. Daxue Wang as its new Chief Financial Officer (CFO), effective immediately. According to InvestingPro data, Wang joins at a challenging time, with the company reporting revenue of $1.01 billion in the last twelve months despite facing profitability headwinds. Mr. Wang, with a rich background in finance, has held executive roles at several corporate and financial institutions, including Radar Auto, Zhejiang Kangsheng, and international firms like Morgan Stanley and Citi Group.
The company's board of directors has also welcomed Ms. Catherine Cai as an independent director and member of various committees. Ms. Cai, with over thirty years of experience in investment banking, has served in senior positions at UBS, Citigroup, and Bank of America Merrill Lynch.
These appointments follow the resignation of Mr. Alexious Lee from the CFO position for personal reasons on Sunday. Mr. Lee will continue to serve as a member of the board.
CEO Mr. Qingfeng Feng expressed his confidence in Mr. Wang's capabilities to drive financial excellence at Lotus Technology. Chairman Mr. Donghui Li highlighted Ms. Cai's investment banking expertise as a valuable asset to the company's shareholders.
Lotus Technology, with operations in the UK, the EU, and China, focuses on producing luxury lifestyle battery electric vehicles and advancing automobility technologies such as electrification and digitalization.
The information for this article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.