NQ Mobile Inc. announced certain changes to its Board of Directors and provided a status update on its 2013 annual audit. Two new independent Directors, Messrs. Max Yao and Justin Chen, have been appointed to the Board and the Audit Committee, effective July 6, 2014.

Mr. Max Yao will also serve as Chair of the Audit Committee of the Board. Ms. Ying Han, the current Chair of the Audit Committee has informed the Board that she would be stepping down from the Board due to personal reasons not related to her role at the company effective on July 6, 2014. There are no disagreements between Ms. Han in her capacity as Chair of the Audit Committee and the company.

In addition, in an effort to enhance shareholder representation, the Company appointed Mr. Taek Kwon, Managing Partner of Toro Investment Partners, LP, as an adviser to the Board and is committed to adding a shareholder representative as an independent director as soon as practicable. Prior to founding Toro, Mr. Kwon was a managing director of TPG Capital focused on the global technology, media and travel sectors.