BlueCity’s Chief Financial Officer Announces Immediate Resignation

BlueCity has announced the resignation of its CFO Ben Zhiyong Li who is leaving the role with immediate effect due to personal reasons. However, he will remain with the company for the next six months and serve as a financial adviser.

Junchen Sun, BlueCity’s Vice President of Finance, will assume the role of acting CFO.

Founder and CEO Baoli Ma said in a statement: “On behalf of the Board of Directors and management team, I would like to express our sincere gratitude to Mr. Li for all his contributions to the company, which includes leading our IPO and Nasdaq listing in July 2020.

“We recognize the critical role he played in growing and strengthening our business and wish him continued success in his future endeavours.”

Junchen Sun joined BlueCity in February 2017 having previously served as financial controller at MicroMedia Holdings Limited from 2015.

Baoli Ma added: “Since joining us four years ago, Mr. Sun has developed into a key contributor to BlueCity’s financial and business operations. With his extensive experience in financial management and capital operations, we believe Mr. Sun is well positioned to move into the acting CFO role immediately.”

BlueCity completed its IPO in July last year, becoming the first LGBTQ social network to be listed on the Nasdaq. It is continuing to explore potential options to expand its portfolio following the acquisitions of LESDO and Finka.

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