Hot News Buzz: Gridsum Holding Inc. (NASDAQ: GSUM)


Gridsum Holding Inc. (NASDAQ: GSUM) is with Insider ownership of 5.30% and institutional ownership counts to 40.60%. Shares float is 26.04M and outstanding shares are at 29.26M. The float short is currently 2.72% and short ratio is 1.41.Gridsum Holding Inc. notched a move of 7.42% to $3.33 for the day. The total traded volume was 105236. The stock had closed at $3.1 on the previous day.

Gridsum Holding Inc. (NASDAQ: GSUM) reported the appointment of two new independent directors, Mr. Dannis Cheuk Yin Lee and Mr. Feng Lu, to the Company’s board of directors (the “Board”), effective from April 1, 2019.  Mr. Lee will serve as the chair of the audit committee and a member of the compensation committee of the Board, and Mr. Lu will serve as a member of the audit committee and the chair of the nominating and corporate governance committee of the Board.

Mr. Lee brings to Gridsum more than 25 years of experience in accounting, management and public company board experience. He is managing director of DLK Advisory Limited, a company engaged in company positioning, investor communications and related advisory services, which he joined in 2010. Mr. Lee held management positions, including as the company’s executive director, chief financial controller and director of operations, at the Hong Kong-listed AMVIG Holdings Limited (Stock Code: 2300), a tobacco packaging business, from 2001 to 2010. Previously, Mr. Lee served as a senior audit manager of Arthur Andersen LLP from 1996 to 2001, and in accounting or audit roles for Philip Morris Asia Limited from 1995 to 1996, and Arthur Andersen LLP from 1992 to 1995. Mr. Lee is an associate member of the Hong Kong Institute of Certified Public Accountants and a member of the American Institute of Certified Public Accountants. Mr. Lee holds a bachelor’s degree in business administration from Texas A&M University. Mr. Lee is an independent director of Geely Automobile Holdings Limited, an automobile manufacturer listed on the Hong Kong Stock Exchange (Stock Code: 175), chairman of its audit committee and member of its remuneration and nomination committees. He is a member of the boards of directors of Tiangong International Company Limited, a manufacturer of special steel, cutting tools and titanium alloy (HKSE Stock Code: 826), Southern Energy Holdings Group Limited, a producer of anthracite coal (HKSE Stock Code: 1573), and CMBC Capital Holdings Limited, a financial services provider (HKSE Stock Code: 1141).

Mr. Lu has been a professor of the School of Government at Peking University since 2003. Prior to that, Mr. Lu had been an associate professor of the School of Public Policy and Management at Tsinghua University from 1999 to 2003. Mr. Lu also served as an officer at the Research Center of the Finance and Commerce Office of Beijing Municipal Government from 1984 to 1986, as an officer at the Finance and Commerce Bureau of the PRC State Economic Commission from 1986 to 1988, and as an officer at the Consumer Market Department and Comprehensive Planning Department of the PRC State Planning Commission from 1988 to 1991. Since 2008, Mr. Lu has served on the board of directors of Chery Automobile Co., Ltd., a China-based automobile manufacturer. Mr. Lu holds a bachelor’s degree in philosophy from the Central Institute of Nationalities of the PRC, and a Ph.D. degree in political science from Columbia University.

The Board has reviewed factors related to the independence of Mr. Lee and Mr. Lu, and has determined that each of them qualifies as an independent director for purposes of the rules of The Nasdaq Stock Market and Rule 10A-3 of the Securities Exchange Act of 1934. Mr. Lee and Mr. Lu replace Thomas A Melcher and Peter Andrew Schloss who resigned from the Board on March 30, 2019 and April1, 2019, respectively.

The stock made income -49.20M on sales of 73.80M. ROA sticks to -24.60% and ROI is -27.90%. Shares have moved -61.86% from its 1 Year high price and changed 158.14% from its 1 Year low price. The shares registered RSI (14) at 51.72 and ATR factor was seen at 0.35.

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