Baijiayun Group Ltd Announces Change In Nasdaq Ticker Symbol to "RTC" Post Completion Of Merger

Baijiayun Group Ltd ("Baijiayun" or the "Company") (NASDAQ:FFHL) today announced that it will change its ticker symbol on the Nasdaq Capital Market from "FFHL" to "RTC." Trading under the new ticker symbol will begin at market opening on Friday, December 30, 2022.

Baijiayun announced the successful completion of the merger transaction (the "Transaction") between Baijiayun Limited and Fuwei Films (Holdings) Co., Ltd. ("Fuwei Films") and the appointment of a new board and management team on December 23, 2022. The Transaction was previously announced on July 19, 2022, and subsequently approved by the shareholders of Fuwei Films at an extraordinary general meeting held on September 24, 2022.

Mr. Gangjiang Li, chairman of the board and chief executive officer of the Company and founder of Baijiayun Limited, commented, "We are very excited to have our Company start trading under the new ticker 'RTC' on the Nasdaq today. With only five years of development, Baijiayun has rapidly grown to become one of the top players in the billion-dollar video cloud industry in China. As an integrated video-centric technology solution provider with advanced self-developed video technologies, Baijiayun will continue to expand our product portfolio spanning over Video SaaS/PaaS, Video Cloud and Software and Video AI and System Solutions with a view to achieving further breakthroughs." 

No action is required by the existing shareholders of Fuwei Films with respect to the ticker symbol change. The Company's Class A ordinary shares will continue to be listed on the Nasdaq and the CUSIP will be updated to G0704V 103.