ETAO Announces Appointment of Ryoshin Nakade as ETAO Japan president

NEW YORK, Dec. 21, 2023 /PRNewswire/ -- The board of directors (the "Board") of ETAO International Co. Ltd. (the "Company") approved the appointment of Ryoshin Nakade, as ETAO Japan president of the Company, effective on November 22, 2023. Wensheng (Wilson) Liu, Chairman and CEO of ETAO stated, "We are thrilled about ETAO's new appointment of Ryoshin Nakade as ETAO Japan president. With the support of Mr. Ryoshin Nakade, ETAO would scale up its 'Buy Build and Expand' and 'Online Merging Offline 'strategy in Asian market quickly. We hope that in turn would speed up the development and market penetration of ETAO's integrated healthcare services for global customers."

Since September 2018, Mr. Ryoshin has served as the chairman of the Tokyo Robot Co., Ltd, a company focuses on the artificial intelligence technology development. From April 2021 to March 2022, Mr. Ryoshin was a founding member of Lawyer Corporation AURA. Mr. Ryoshin has also been a researcher focus on industry economics and upgrade at Japan University of Economics since October 2022. Mr. Ryoshin attended Toyo University from April 1990 to March 1994 and received his bachelor's degree in law. He attended National Ibaraki University from April 2012 to March 2014 and obtained his master's degree in agriculture. From April 2015 to March 2020, he attended the National Tokyo University of Agriculture and Technology and received his Ph.D in agriculture.

About ETAO International Group

ETAO International Group ("ETAO"), a Cayman Islands company, aims to be the leading digital healthcare group providing telemedicine, hospital care, primary care, pharmacy, and health insurance covering all life stages of patients. ETAO became a public company listed in Nasdaq through merging with Mountain Crest Acquisition Corp. III (MCAE) on Feb 21, 2023. "ETAO" brand means "Best Medical Way" with transformative medical care and unparalleled service. As a holding company with no material operations of its own, ETAO conducts substantially all of the operations through five variable interest entities ("VIEs") located in China, which have entered into a series of the VIE Agreements with certain indirect subsidiaries of ETAO. For accounting purposes, ETAO is the primary beneficiary of the VIEs' business operations through the VIE Agreements, which enable ETAO to consolidate the financial results in its consolidated financial statements under U.S. GAAP for four of the VIEs and for the one remaining VIE, in which ETAO does not own a majority interest, its financial statements will not be consolidated with the financial statements of ETAO. ETAO aims to provide best-in-class internet medical services, such as artificial intelligence and big data technologies, to improve health care delivery and quality in specialized clinics and hospital settings. ETAO's is in the process of building a platform that is seamlessly integrated based on its ability to combine technology and health sciences.

Media Contact:
Wilson Liu
Tel:347-306-5134, wilson.liu@etao.world

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SOURCE ETAO International Co., Ltd.