FAB Universal announced the appointment of Steve Sun as Chief Operating Officer, a new position at the company. Mr. Sun will be responsible for the management of FAB Universal's day-to-day operations and will be based in Beijing. Mr. Sun, (52), has over twenty-five years of broad-based management and operations experience with emerging growth companies.

Mr. Sun is currently a director and chairman of the investment committee of Concord Medical Services Holdings Limited, a publicly traded healthcare company based in Beijing, China. Mr. Sun currently serves as an independent director of Karen International Holdings Ltd., a real estate and leather company listed on the Hong Kong Stock Exchange.