BEIJING, Sept. 10, 2012 /PRNewswire/ -- China Digital TV Holding Co., Ltd. (NYSE: STV) ("China Digital TV" or the "Company"), the leading provider of conditional access ("CA") systems to China's expanding digital television market, today announced the appointment of Mr. Tianxing Wang as Chief Technology Officer, effective September 10. Mr. Wang succeeds Mr. Jian Han, who has taken over as Chief Executive Officer of Cyber Cloud, a subsidiary of China Digital TV. "We are delighted to announce the promotion of Mr. Tianxing Wang to CTO, where he will oversee our scientific and technological development," said Mr. Jianhua Zhu, China Digital TV's chairman and chief executive officer. "During his 15 years at China Digital TV, Tianxing has made an indispensable contribution to the development of our CA products. His deep industry knowledge and experience in research and development will ensure we continue to develop best-in-industry solutions and services for our clients." Mr. Wang has served as China Digital TV's chief scientist since 2007. From 1998 to 2007 he served as the Company's director of software technology, overseeing the design and development of its industry-leading CA products, including the establishment of its DVB-C based CA system infrastructure, as well as other CA-related protection technology based on its IPTV, CMMB and DRM solutions. Mr. Wang earned his BS and MS in computer science and technology from Tsinghua University. About China Digital TV Founded in 2004, China Digital TV is the leading provider of CA systems to China's expanding digital television market. CA systems enable television network operators to manage the delivery of customized content and services to their subscribers. China Digital TV conducts substantially all of its business through its PRC subsidiary, Beijing Super TV Co., Ltd., and its affiliate, Beijing Novel-Super Digital TV Technology Co., Ltd., as well as subsidiaries of its affiliate. For investor and media inquiries, please contact:In China:Nan Hao China Digital TVTel: +86.10.6297.1199 x 9780Email: firstname.lastname@example.orgJosh GartnerBrunswick Group LLCTel: +86.10.5960.8600Email: email@example.comIn the US:Cindy ZhengBrunswick Group LLP Tel: +1.212.333.3810Email: firstname.lastname@example.org
China Digital TV Holding (STV) rose on Wednesday after the company declared a special cash dividend of 50 cents a share on its ordinary shares. Each of China Digital's American Depositary Shares (ADS) represents one ordinary share. Shareholders of record as of the close of business on April 14 will be eligible to receive the dividend, which should be paid on or around May 9. This is the fifth time the company has declared a dividend since its IPO in 2007. "China Digital TV is always looking to provide excellent value to our shareholders and we believe that a special dividend is a prudent use of cash at this time," said Chairman and CEO Jianhua Zhu in a statement. "Our balance sheet and revenue remain strong enough to support our continued focus on R&D and other long-term objectives."