Ucommune Appoints Chief Financial Officer To “Power The Next Phase Of Growth”

Beijing-based coworking brand Ucommune is preparing to “power the next phase of growth”.
  • Beijing-based coworking brand, Ucommune, has appointed James Yan as Chief Financial Officer
  • Yan is expected to “power the next phase of growth” at the rapidly expanding company, which is valued at $1.7 billion
  • Ucommune’s global financial operations will be overseen by Yan along with fund deployment and mergers and acquisitions

Ucommune is pleased to announce the appointment of James Yan (Lingyang) as chief financial officer. The inclusion of James Yan into the ranks of senior management is expected to result in greater synergy and power the next phase of growth for this unicorn worth US$1.7 billion.

Ucommune has vested the responsibility of global financial operations to CFO James Yan. Besides the daily financial operations, James will be in charge of fund deployment to drive the brand’s expansion. He will deploy the tools of both organic growth, merger and acquisition (M&A) and other corporate action that would be in the best interest of the company in different jurisdictions.

“We are excited to have James on board. He is a valuable addition to our China office with his wealth of experience in both business and finance management across the diverse regions and industries in China,” said Dr. Mao Daqing, founder and Chairman of Ucommune. “Furthermore, he has a proven track record of effective leadership by energising teams to deliver innovative solutions to clients.”

James brings along 18 years of stellar service in the financial and accounting industries for both the Big 4 firms and also commercial companies. Notably, he held significant positions in the Initial Public Offering (IPO) of major Chinese companies such as Industrial and Commercial Bank of China (ICBC), CITIC Securities, Beijing Jingneng Clean Energy, China Energy Engineering Corporation (CEEC) and Air China.

In addition, he steered the annual audit and SOX404 internal control review service for United Continental Holdings (NYSE: UAL) during his tenure at EY in the United States. Forbes recognized ICBC as the ‘Biggest Public Company In The World In 2017’. The Financial Times noted that CITIC is the largest Chinese investment bank by revenue in 2017.

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“I look forward to working with my fellow colleagues to spread Ucommune’s smart solutions to a wider audience and continuously add value in our product offering,” said James Yan, CFO of Ucommune. “Business models are becoming increasingly sophisticated. Therefore, we are constantly on the hunt for more innovative, integrated solutions and the immense opportunities that comes along with it. I am committed to leading a team to continue exploring technology-empowered and community-oriented solutions.”

Prior to his appointment at Ucommune, James was audit partner at Deloitte Beijing for six years, preceded by ten years in EY Beijing and EY Houston. He holds a Bachelor of Arts Degree in International Finance from Capital University of Business and Economics, and a Master’s Degree in Accounting from University of International Business and Economics. He is a member of CICPA, AICPA, CFA and CIA, and an expert in PRC GAAP, IFRS and US GAAP.

Founded in 2015 by real-estate veteran Dr. Mao Daqing, Ucommune is a leading integrated coworking solution provider in China offering long-term and on-demand leasing, corporate-customization solutions, financing and professional services across a broad spectrum for small-to-large enterprises. Backed by renowned investors such as Sequoia Capital, Zhen Fund, Noah Wealth Management, and Sinovation Ventures, Ucommune posts a valuation of U.S. $1.7 billion after C round and acquisition of Woo Space, Wedo Space, and Workingdom, as of June 2018, and has grown to over 160 locations in over 36 cities globally. Its coverage includes but is not limited to Singapore, New York, Beijing, Taipei, Hongkong, and Shanghai, servicing over 7,000 enterprises and 120,000 individual members in total. Ucommune is the largest and most recognised coworking space brand in China.